Showing posts with label townhouses. Show all posts
Showing posts with label townhouses. Show all posts

Jul 1, 2014

Manhattan Market Report | Second Quarter 2014

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 Manhattan Market Report | Second Quarter 2014
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      Overall, the market-wide cost for Manhattan’s homes increased 20% in average sale price, 6% in median sale price, and 15% in average price per square foot versus Second Quarter 2013. The average price per square foot reached $1,286 this quarter, a new peak. 



Highlights of Manhattan Second Quarter 2014 Market Report:

·         Inventory Starting to Turn Around.  Although the number of properties listed for sale remains low (52% below the peak in Q1 2009), inventory rose for the second quarter in a row.

·         Limited Supply Buoys Prices.  inventory was up, but its overall continued depressed level maintained competitive conditions among those in the market to purchase.

·         Slower Activity in Bread-and-Butter Sales.  In Manhattan, one- and two-bedroom units are the primary drivers of residential sales activity, but they are occurring with decreasing frequency.  (see Sales by Price Category, p. 6.)  

·         Luxury Sales Grow Disproportionate.  Activity at the high end continued to be robust, and grew as an overall percentage of the market.  Properties above $3M now account for 12% of sales (up 3% from a year ago), and 26% of available inventory (up 4%).

·         Price Per Square Foot Sets New Record.  The focus on high-end sales drove the average price per square foot for Manhattan real estate up to $1,286.


The Second Quarter described signs of buyer fatigue and caution, particularly amongst prospective buyers of small units.  With prices at their peak, there is less incentive to become a first-time buyer, or to trade up from a starter home. 

Sellers act now and price it right. 

Each market segment and neighborhood has it's own nuances. If you're thinking about buying or selling a home, or would like to discuss the market or this report please contact me.
 

For the complete Corcoran Manhattan Second Quarter Report including neighborhood reports.














Apr 14, 2014

East Harlem | Manhattan Neighborhood

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Metro North Railroad Station at 125th Street & Park Avenue

 
'There is a rose in Spanish Harlem
A red rose up in Spanish Harlem
It is a special one, it's never seen the sun
It only comes out when the moon is on the run
And all the stars are gleaming
It's growing in the street right up through the concrete
But soft and sweet and dreamin'

Ben E King 
"Spanish Harlem" 





Manhattan Neighborhood | East Harlem

El Barrio (Spanish Harlem) SpaHa (East/Spanish Harlem) community stretches from First Avenue to Fifth Avenue and from East 96th Street to East 125th Street.

Rich in history and residential charm, the diverse East Harlem neighborhood offers those in search of a new apartment or townhouse plenty to peruse. Housing stock runs the gamut from row houses to studios, from one-and two-bedroom co-ops to renovated tenements.

A big draw in East Harlem is space — apartments often come with a dining room, an outdoor garden, or even parking. Large rental complexes like Hampton Court (complete with gyms, garden decks and retail shopping) are now being joined in East Harlem by luxury condos offering views of the East River, the George Washington and RFK (Triborough) Bridges.

Lexington Hill Condominium (103/104th Streets)
East Harlem’s cornucopia of food, culture and lively street life reflects its history. From the exclusive Rao’s Restaurant, founded in 1896, and Patsy’s Pizzeria, established in 1933 in part of Old Little Italy, to modern-day bodegas and botanicas, shopping and dining in this neighborhood continue to evolve even as the Uptown apartments do.

On the artsy side of East Harlem, provocative murals by celebrated artist James De La Vega — some commissioned, some not — dot the neighborhood and the living legacy of Salsa greats continues at venues such as Creole, a jazz/supper club, and Orbit, a bar/restaurant that hosts open mic nights in its jazz and cabaret schedule.


East Harlem residents enjoy the East River Plaza on 116th Street off the FDR Drive that opened in ’09. If you want to stock your home with everything, big companies that will be offering their wares for sale in East Harlem include Target, Marshall’s, Best Buy and Manhattan’s first Costco. Other neighborhood attractions include the Museum of the City of New York, El Barrio Museum, Central Park East and North Meadows.

Easy access to get out-of-town. There's a Metro-North Railroad Station at 125th Street with a 4-5-6 Lexington Avenue subway stop and easy access to the FDR Drive and the west side via cross town bus on 125th Street. Easy access to La Guardia airport from 125th Street airport bus.

There currently are approximately 40 active apartments for sale in East Harlem. Ranging from $139,000 for a 2 bedroom, 1 bath, 5th floor walk-up to $2,980,000 for a 3 bedroom. 3.5 bath, 2849 square foot penthouse at the Crown Condominium.

Currently there are approximately 10 residential buildings (single family, multi family, mixed use and income properties) for sale in East Harlem ranging from $1,150,000 for a two family house to an 8-story income property delivered vacant under construction condo for $15,550,000.


                                                                                             There is a rose in Spanish Harlem...




Dec 26, 2011

Riverside Drive - Upper West Side

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Riverside Drive Apartments and Townhouses
The Normandy


Along Riverside Drive on the Upper West Side, there are some grand scale apartment buildings with magnificent river views to match the street's name.

Riverside Drive in the 70s, 80s and 90's have their share of “Classic Six” prewar apartments and “Classic Seven,” apartments two and three bedroom apartments with formal dining rooms and maid's rooms.

Riverside Drive is one of Manhattan's most desirable neighborhoods. Many of the pre-war apartments have direct Hudson River and Riverside Park views.

Riverside Park is widely regarded as Manhattan's most spectacular waterfront park. As one of only 10 officially designated scenic landmarks in the City of New York, it has a long and storied history.
Riverside Drive, Riverside Park, Hudson River
40 Riverside Drive
In 1865 a scenic drive and park was built on Manhattan's Upper West Side.

The development of the park encouraged the construction of mansions along the drive.

Today Riverside Drive is made up of handsome grand prewar buildings, mansions and townhouses.

Current available apartments for sale on Riverside Drive range from small studios in the mid $200,000's to a 4 bedroom 3 bath pre-war coop for $3,450,000 to an Eight bedroom 4742 square foot post war condo asking $10 million.

Current available townhouses for sale on Riverside Drive are a Single family 7500 gross square foot  26' 3" x 54'6 six story home asking $12, 500 to Multi-Family 9400 square foot 32' x55' 5story building with elevator asking $17,000,000.

Contact me at 917-312-0924 if you're interested in purchasing an apartment or townhouse on Riverside Drive or if you are thinking about selling your home on Riverside Drive.

Nov 19, 2011

The Dillon - 425 West 53rd - Townhouse Units

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The Dillon, a new development, 83-unit condominium at 425 West 53rd Street between Ninth and 10th avenues, had a broker party recently to debut its townhouse units and showcase its penthouses.

Developed by SDS Procida and marketed by Corcoran Sunshine Marketing Group, the Dillon is 60 percent sold, including one of the nine townhouses. The available units range from a 565-square-foot studio priced at $595,000, to a four-bedroom townhouse spanning 2,750 feet and priced at $4.15 million.

Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape.

The  designer apartments' walls, hand-painted by New York painter Mark Chamberlain in colorful stripes and honeycomb patterns. BMWs were temporarily on display in the garage to show off the underground parking.

Designed to suit the needs of diverse city lifestyles, amenities at The Dillon include a 24-hour attended lobby and a serene, landscaped garden terrace accessible via the residents’ lounge. Ideal for entertaining, the lounge is equipped with a service bar and a private dining room with catering kitchen. And a state-of-the-art fitness center with windows overlooking the garden terrace is adjacent to the children’s playroom.

The midtown Clinton "Hells Kitchen location is within walking distance of Midtown’s business center, Central Park and Hudson River Park, Times Square, Lincoln Center, Time Warner Center, MoMa and other myriad cultural and dining venues.

Click here to receive listings via email at The Dillon or any Manhattan New Developments.

Nov 9, 2011

Upper West Side - Is Green the new Brownstone?

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Upper West Side Brownstones in Fall Colors

West 80's, Upper West Side, Manhattan
(iPhone photo: ©Mitchell Hall)

Sep 14, 2011

Manhattan Brownstones

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Brownstone Townhouses

New Yorkers lived in Townhouses during the 19th century.
19th Century Single Family Townhouses were made of Brownstone and Limestone.

The luxury apartment building was actually invented in New York in the late 19th century. In 1890 The Dakota was the first luxury apartment building in Manhattan. By 1930, 90% percent of Manhattanites lived in apartments.

West 88th Street Townhouse - Park Block

The Townhouse Market today is very desirable as single family homes and multi-family income producing rental buildings for investors.


May 5, 2010

New Development: The Dillon - 425 West 53rd Street

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Townhouses and Condominiums

Sales are underway at The Dillon, a sophisticated mix of residences that defy the cookie-cutter mold.

Smith-Miller + Hawkinson Architects’ AIA award-winning design integrates Flats, Duplexes, Penthouse Duplexes and nine triplex Townhouses within a dynamically-folded glass façade.

The 83 homes have been woven together in 54 unexpected ways—each floorplan reflecting innovation in design and optimizing the flow of light, air and living space.

Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape.

Designed to suit the needs of diverse city lifestyles, amenities at The Dillon include a 24-hour attended lobby and a serene, landscaped garden terrace accessible via the residents’ lounge. Ideal for entertaining, the lounge is equipped with a service bar and a private dining room with catering kitchen. And a state-of-the-art fitness center with windows overlooking the garden terrace is adjacent to the children’s playroom.

And enjoy the convenience and culture of The West Side Arts District, a dynamic neighborhood retaining the spirit of old New York - its vitality, its diversity - and thriving with the pulse and the vibrancy of the new. Live within walking distance of Midtown’s business center, Central Park and Hudson River Park, Times Square, Lincoln Center, Time Warner Center, MoMa and other myriad cultural and dining venues.

Current available units range in price from $740,000 for a 665 square foot 1 bedroom 1.5 bath home to $3,250,000 for a 2,274 square foot 5 bedroom 4 bath bedroom home.

updated post November 19 2011

Click here to receive listings via email at The Dillon or any Manhattan New Developments.

Feb 24, 2010

Loan on West 86th St. Townhouses on the Market

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iPhone photo: courtesy of Mitchell Hall

According to the Real Deal the $25.1 million first mortgage secured by three adjacent buildings at 272-276 West 86th Street is on the market.The loan was used to refinance 272 West 86th Street and aquire 274 and 276 West 86th Street, as well as fund tenant buyouts and pre-development costs at the properties. The pre-war walk up buildings are each 5 stories and have a combinred 18,645 square feet spread out over 30 units. The lot allows for 61,290 buildable square feet.

At the same time, community efforts are underway to Save the West 86th Street Townhouses. A petition to NYC Landmarks Preservation Commission was created by West End Preservation Society.

These four West 86th Street Gilbert townhouses are built in the French Neo-Renaissance style with delightful details worked into their stone facades. These buildings exhibit rounded bays running up three stories of the buildings, petite balconies, intricate floral swags atop the tall windows and mirror-image placement with respect to one another. This unique architectural design allows each of the four structures to be differentiated from the other yet at the same time exhibits a smooth, sensuous curve when viewing the four together. West 86th Street was once all townhouses from Central Park West to Riverside Drive. There are community efforts to designate all of West 86th Street a historic district.

sign the petition

Aug 31, 2009

Soho Mews: Townhouses designed by Hearst Magazines

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Hearst Magazines, has partnered with developer United American Land LLC and Corcoran Sunshine Marketing Group to present the third annual “Designer Visions” program, a residential development initiative in New York City.

Hearst titles House Beautiful, Town&Country and Veranda will each design a townhouse at Soho Mews, a modern, elegant condominium designed by renowned architecture firm Gwathmey Siegel & Associates and located in Manhattan’s trendy Soho neighborhood.

This year, Designer Visions’ theme is “Cinema Style,” since great films, both current and classic, and their characters often inspire the world of interior design. The magazines and their respective designers have each chosen an iconic film which will be reflected in their residence’s décor as follows:

Hearst Magazines will host an opening night event for Designer Visions: Cinema Style on October 13, followed by other events through the month of December. Opening a few weeks earlier will be the Esquire Apartment, a.k.a. the magazine’s “ultimate bachelor pad,” also located at Soho Mews. This marks the first time that Designer Visions and the Esquire Apartment, now in its seventh year, have each found a unique space within the same residence.

The townhouses range in size from 2,877 square-feet to 3,855 square-feet. Once unveiled, buyers will have the opportunity to purchase these signature living spaces.

This year, for the first time, Hearst Magazines has partnered with Fine Living Network (FLN) to produce a one-hour television special that will offer viewers nationwide a behind-the-scenes look at the three Designer Visions residences and the inspiration behind them. The special, hosted by FLN’s style expert Lloyd Boston, will premiere January 25, 2010, at 8pm ET.

Soho Mews comprises two condo buildings; one with an entrance on West Broadway and the second which fronts Wooster Street. They are connected by a 4,000 sq.-ft. garden designed by the award-winning Peter Walker & Partners Landscape Architecture, which was recently honored with the winning design for the World Trade Center Memorial, among other accolades.

The property features 59 lofts, 5 spacious townhouses and 4 wrap-around penthouses, all with 10-foot ceilings. The building’s ample amenities include concierge service provided by Luxury Attaché, in-building art information advisory service by Yvonne Force Villareal and Doreen Remen’s Art Production Fund, special shopping privileges, updates and other perks from Fort Street Studio, Moss and Centovini, as well as a state-of-the-art fitness center and 24-hour doorman and porter service.

Current available apartments for sale at Soho Mews range in price from $2,325,000 to $11,550,000. Current available apartments for rent at Soho Mews range from $7,000/month to $20,000/month.

For more information about sales and rentals at Soho Mews or any other Manhattan project please contact me at mhall@corcoran.com

May 29, 2009

Neighborhood Report: Hamilton Heights

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Hamilton Grange
Hamilton Heights is located between 145th and 155th Street. Hamilton Heights in Upper Manhattan was the home of Alexander Hamilton from 1802 - 1804. 
Alexander Hamilton was the first United States Secretary of the Treasury, a Founding Father, and political philosopher. 


His Manhattan home Hamilton Grange has recently been moved from Convent Avenue to St. Nicholas Park.


Today Hamilton Heights is mostly a housing fusion of palatial 19th century brownstones, spacious pre-wars and tenement walk-ups.


Developers have converted brownstone, shells of buildings and narrow vacant lots into condominium apartments. For Manhattan home buyers, Hamilton Heights provides an opportunity to live in a neighborhood with small-scale buildings. 

Zoning does not allow for very large buildings. These apartments, typically floor-throughs and duplexes come with town house amenities, like terraces, gardens, fireplaces, and uncommonly good light for Manhattan.



A diversified mix of Buyers are coming to Hamilton Heights for the neighborhood’s history, the houses, brownstones and new condos that cost much less than they would a mile to the south.


Currently there are approximately 110 active apartment listings in Hamilton Heights. Prices range from a $125,000 for an HDFC (income cap retrictions) 2 bedroom coop to a $2,125,000 8 room four bedroom 3 bath, 2250 square foot pre-war coop.


There are currently about 45 active building listings in Hamilton Heights. Prices range from $695,000 for a 5 floor building to $3.2 million for a multi-family building.

IF you would like to receive apartment and townhouse listings in Hamilton Heights click here.
Click here to find out how much your home is worth in today's market?

Related nyc Blog estate posts:
Washington Heights 



 

Jun 29, 2007

New Manhattan Avenue Historic District

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Manhattan Avenue Historic District
The Landmarks Preservation Commission recently created a new historic district in Morningside Heights on the Upper West Side.
The newly created historic district is comprised of 40 buildings on Manhattan Avenue between 104th and 106th Streets. Unlike many of Manhattan's earlier row houses, which were primarily built with brownstone facades in the classical style, the structures in the new Manhattan Avenue district combine Gothic, Queen Anne and Romanesque features.
Originally called "New" Avenue when it was created in 1868, Manhattan Avenue starts at 100th Street and continues to 125th street where it merges with St. Nicholas Avenue.
Manhattan Avenue irregularly divides Morningside Heights and West Harlem. Morningside is West of Manhattan Ave including Columbia University, Saint John the Divine and Morningside Park. To the East of Manhattan Ave but west of Frederick Douglas Boulevard (AKA Central Park West below 110th Street.) is considered West Harlem.
New York City now has 87 historic districts. The new designation means property owners need to get the Landmarks Commission approval for changes to building exteriors.
For more information about Morningside Heights click here.
To search MLS IDX listings in Morningside Heights and West Harlem click here.
To receive Morningside Heights, West Harlem or any other Manhattan listings by email click here.

Jun 1, 2007

Manhattan Neighborhood: Harlem

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(updated 10/1/2011) 
Harlem was established in 1658 by the Dutch and named Nieuw Harlem after the Dutch city of Harlem. This large section of Manhattan real estate has a deep spirit, culture and history.

Harlem passed through several historic periods - as a high-society area of New York for wealthy upper class and middle class white residents...as a fashionable district for blacks during a period known as the "Harlem Renaissance"...as one of the hottest night club playgrounds for audiences who came uptown to see the all black revues to gangsters and entertainers in grand style at the famous night spots.

Beginning in the 1870s Harlem was the site of a massive wave of development which resulted in the construction of numerous new single-family row-houses, tenements, and luxury apartment houses, New York's black middle class began moving to Harlem.
During the "Harlem Renaissance" of the 1920s, Harlem became the urban cultural center of black America, with its center around 135th Street between Lenox and Seventh Avenues.

Affluent African-Americans began moving to "Sugar Hill" in the late 1920s. "Sweet and Expensive," signifying that one had arrived, economically and socially Sugar Hill was celebrated for its exclusivity and status. The Hill attracted those with talent, money, education, and social prominence.


  • East Harlem/El Barrio (Spanish Harlem) community stretches from First Avenue to Fifth Avenue and from East 96th Street to East 125th Street.
  • Central Harlem stretches from Central Park North to the Harlem River and from Fifth Avenue to St. Nicholas Avenue.
  • West Harlem, including Hamilton Heights and Sugar Hill, stretches from 123rd to 155th Streets and from St. Nicholas Avenue to the Hudson River
For the last few years there has been another wave of development and construction in Harlem. New condo development has surged in Harlem like the rest of Manhattan and there appears to be enough demand by buyers to meet supply.

111 Central Park North

A luxury glass condo at 111 Central Park North currently has 2 available 3 bedroom apartments for sale for $2,399,000 and $2,690,000. (Oct 1, 2011)

Recent sales data: A 4 bedroom 4.5 bath 2897 square foot Penthouse recently sold for $4,525,000. (Oct 1, 2011)

It appears Central Park North is getting numbers equivalent to prices on Central Park West, Central Park South and Upper 5th Avenue. Harlem condos typically sell for $550 to $800 per-square-foot. Townhouses run $350 to $500 a square foot if it requires no renovation. If it's a shell, and one can still be found it's about $250 to $300 a square foot.

A diversified mix of New Buyers think Harlem is an exciting place to live because it is still on the island and they are priced out of downtown. They are coming to Harlem for the neighborhood's history and the immaculate houses on Strivers Row and new condos all over Harlem. The fixer-upper brownstones that were a steal have been gone for a couple of years now. Most Townhouse owners have cashed out already. Many have been renovated and many sellers have priced them too high. 

Developers have converted brownstone, shells of buildings and narrow vacant lots into condominium apartments. For Manhattan home buyers, this new wave of condo conversion in Harlem provides an opportunity to live in a neighborhood with small-scale buildings. Harlem zoning does not allow for very large buildings. These apartments, typically floor-throughs and duplexes come with town house amenities, like terraces, gardens, fireplaces, and uncommonly good light for Manhattan.  

There are new condo townhouses from Morningside to amilton Heights. Many of the new construction condos are on Frederick Douglas Boulevard.

New larger buildings with doormen and other amenities have gone up on Harlem's Avenues. Many of the new developments are along Frederick Douglas Boulevard.
88 Morningside venue88 Morningside Avenue
88 Morningside Avenue, Harlem, Morningside Heights is a new construction condo set among tree lined streets and pre-war buildings directly opposite Morningside Park. Current available apartments at 88 Morningside range from a 625 square foot one bedroom to a 1300 square foot Three bedroom 2 bath home for just under $900,000. (Oct 1, 2011)

  
The Dwyer Condos - Warehouse Lofts at 123rd Street
 
The Dwyer condos at 123rd and St. Nicholas are more like downtown loft buildings.
Harlem is a location with history, spirit, culture and affordability. 

Harlem may be the neighborhood you are looking for. 

All the new construction in Harlem it hasn't lost its old historic flavor. There are still many prewar buildings and beautiful 19th century townhouses featuring fireplaces and molding and lovely backyards.

Harlem is home to Columbia University and the world renowned Apollo Theater where such greats as Duke Ellington, Count Basie, and Aretha Franklin performed. One of the area's most notable attractions is the Cathedral of St. John the Divine. This awesome Episcopal cathedral, on 112th Street near Columbia University, is exceptional in its melding of Gothic, Byzantine and Romanesque architecture. More and more businesses are flocking in to meet the needs of this resurrected neighborhood.


So take the A train up to Harlem and enjoy the history and affordable housing!



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This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions. This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

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