Price: $589,000
Maintenance: $1,036.17
Financing: 80%
Tax Deduction: 51%
Ross Ellis
Halstead Property, LLC
tel: 212.317.7828
e-mail Ross
View Listing Here
Saturday, July 23, 2011
NEW TO MARKET Spacious One Bedroom COOP Near Time Warner Center NYC
Spacious, sunny and bright one bedroom/one bath home faces a lovely wide tree-lined street with southern exposure. Completely renovated grey marble bathroom with glass enclosed doors, pedestal sink and Toto toilet. Beautiful wood floors, large living room with fabulous custom maple wood built-ins, and a lovely dining area, four large closets and very large master bedroom — large enough to add your home office. This spectacular residential 24-hour doorman building conceals a private magnificently landscaped 2.5 acre private garden, has a parking garage, dry cleaner and tailor on premises, is pet friendly, and offers bicycle storage and large storage lockers. Laundry on premises. Steps to Lincoln Center, Time Warner Center which houses Whole Foods among some excellent restaurants, The Rose Jazz Theatre, Central Park, and upscale shops at Columbus Circle. Primary transportation hub for buses and subways @ Columbus Circle. Pied A Terres welcome.
Price: $589,000
Maintenance: $1,036.17
Financing: 80%
Tax Deduction: 51%
Ross Ellis
Halstead Property, LLC
tel: 212.317.7828
e-mail Ross
View Listing Here
Price: $589,000
Maintenance: $1,036.17
Financing: 80%
Tax Deduction: 51%
Ross Ellis
Halstead Property, LLC
tel: 212.317.7828
e-mail Ross
View Listing Here
Sunday, July 3, 2011
It's Here! New York Restaurant Week Summer 2011: July 11th - 24th
If you live in Manhattan you already know about NY Restaurant Week. If you're new to Manhattan or thinking about relocating to this great city, New York Restaurant Week is definitely something you want to know about!
Every year, twice a year, New Yorkers and those visiting Manhattan get the opportunity to dine in some of the "best of the best" restaurants for a three course prix-fixe lunch at the amazing price of $24.07. Some restaurants even offer a three course prix-fixe dinner for $35.00.
This summer's Restaurant Week takes place between July 11th -24th.
Dine at the best New York City restaurants with the best chefs! Whether it's at 21 Club, Abboccato Ristorante, Ai Fiori, AJ Maxwells Steakhouse, Aquavit, Arabelle, Artisanal Fromagerie, Bistro and Wine Bar, Asia de Cuba, Atlantic Grill, Aureole, B. Smiths Restaurant, Bar Boulud, Barbetta Restaurant, Barbuto, Ben Bensons Steak House, Benoit Restaurant, Bice Ristorante, BLT Bar & Grill, Blue Fin, Blue Smoke, Blue Water Grill, Bocca Restaurant, Bond 45, Brasserie, Brasserie 8 ½, Ca Va Brasserie by Todd English, Café Boulud, Capsouto Frères, Carlyle Restaurant, Chez Josephine, Chin Chin Restaurant, Cipriani Dolci, Cipriani Wall Street, Circus Restaurant, Club A Steakhouse, Colicchio & Sons Tap Room, Craftbar, David Burke Townhouse, Esca, Fishtail by David Burke, Fives at Peninsula New York, Forty Four, Gotham Bar and Grill, Indochine, Industria Argentina. Isabellas Joe Allen, JoJo, Le Cirque, Le Perigord, LEcole, Restaurant of French Culinary Institute, Loeb Central Park Boathouse Restaurant, Lupa Osteria Romana, Mesa Grill, Michaels Restaurant, Modern-Bar Room, Morimoto, Mr. Chow New York-57th Street, Mr. Chow New York-Tribeca, Nice Matin, Nobu New York City, Nougatine at Jean Georges, Ocean Grill, One if by Land, Two if by Sea, Orso, Osteria del Circo, Palm Court at Plaza, Palm Restaurant, Patroon Restaurant , Perry St., Persephone, Plaza Food Hall by Todd English, Post House, Primehouse New York, Quality Meats, Red Rooster Harlem, Redeye, Remi Restaurant, River Café, Riverpark-A Tom Colicchio Restaurant , Russian Tea Room, Sant Ambroeus-West Village, Spice Market New York, Stadium Grill by David Burke, TAO Asian Bistro, Terrace in the Sky, Tribeca Grill, Union Square Café, Victors Café, Water Club, or any of the other restaurants offered, you can't go wrong. You'll not only save a lot but have a gastronomic feast.
New York City Restaurant Week Summer 2011 to view restaurants and make reservations visit nycgo.com/restaurant week
If you're thinking of moving to Manhattan, it's not only a great way to try out our incredible restaurants, but it will help you relax over a sumptuous meal after browing apartments all day to decide where you want to live.
NYC Restaurant Week Tips:
Research - Get recommendations from friends and search the Internet for ratings. Most of the participating restaurants are the best that New York has to offer.
Reservations should be made in advance. DO Reserve Early - Normally, getting a reservation at these restaurants is difficult. Plan ahead. Reservations early in the week are usually easier than Thursdays or Fridays. Call to see if there were any cancellations as well.
Dress Code - When dining in New York's best restaurants, dress your best.
Tip Higher - Tipping more than 20% will get you first-class service that New Yorkers expect from these top restaurants.
Friday, July 1, 2011
Manhattan Residential Sales Prices Up 4 Percent
After a slight drop in prices at the beginning of the year, the Manhattan real estate market has stabilized in the past three months, with prices rising slightly and sales volume increasing with an expected spring surge in home buying.
Market reports that the city’s largest brokerage firms released today showed that the increase in the average sale price was largely attributed to more robust sales of larger and more expensive apartments, while studio and one-bedroom sales lagged slightly.
The 2nd Quarter 2011 market reports were release today by all of the major residential firms in Manhattan showing the average Manhattan apartment sale price of $1,430,432 was up 5 percent from last quarter and up 4 percent from the same period in 2010.
According to the report, sales over $5 million, particularly coop sales over $10 million were responsible for driving the average price higher. The median price, which measures the middle of the market and is not as impacted by high-end sales, fell 1 percent over the past year to $835,000. At 2,115, the number of reported sales was down 7 percent from a year ago.
The average price for coops sold during the second quarter of 2011 was up 14 percent from a year ago, to $1,214,047; this was due to increased sales in 3-bedroom and larger apartments. On the East Side, average price for all sizes apartments except two-bedrooms rose, led by three-bedroom and larger apartments which were up 15 percent over last year. Prices for all sizes of apartments, except those 3-bedrooms and larger, were down slightly on the West Side. In both the Midtown East & West markets condo prices were steady and co-op prices rose for prewar and dropped for postwar. Downtown prices rose for all size categories except one-bedrooms. The average condominium price was $1,670,908, down just 1 percent from a year ago.
Data from sister firms Halstead Property and Brown Harris Stevens show mixed but healthy indicators. In a still strict lending environment, it comes as little surprise that the best performing sectors of the market -- the top end of the market where buyers are wealthiest, and the bottom end of the new development market where units qualify for Federal Housing Authority-approved loans -- were those where financing came easiest.
According to a Bloomberg news report, lenders are easing credit requirements on jumbo loan limits and narrowing the gap on rates compared with government-backed loans.
Manhattan’s residential market is definitely looking up.
See Halstead Property’s 2nd Quarter 2011 Market Report
For more information or a consultation feel free to email me at Halstead Property
Ross Ellis is a proud member of the Real Estate Board of New York
Market reports that the city’s largest brokerage firms released today showed that the increase in the average sale price was largely attributed to more robust sales of larger and more expensive apartments, while studio and one-bedroom sales lagged slightly.
The 2nd Quarter 2011 market reports were release today by all of the major residential firms in Manhattan showing the average Manhattan apartment sale price of $1,430,432 was up 5 percent from last quarter and up 4 percent from the same period in 2010.
According to the report, sales over $5 million, particularly coop sales over $10 million were responsible for driving the average price higher. The median price, which measures the middle of the market and is not as impacted by high-end sales, fell 1 percent over the past year to $835,000. At 2,115, the number of reported sales was down 7 percent from a year ago.
The average price for coops sold during the second quarter of 2011 was up 14 percent from a year ago, to $1,214,047; this was due to increased sales in 3-bedroom and larger apartments. On the East Side, average price for all sizes apartments except two-bedrooms rose, led by three-bedroom and larger apartments which were up 15 percent over last year. Prices for all sizes of apartments, except those 3-bedrooms and larger, were down slightly on the West Side. In both the Midtown East & West markets condo prices were steady and co-op prices rose for prewar and dropped for postwar. Downtown prices rose for all size categories except one-bedrooms. The average condominium price was $1,670,908, down just 1 percent from a year ago.
Data from sister firms Halstead Property and Brown Harris Stevens show mixed but healthy indicators. In a still strict lending environment, it comes as little surprise that the best performing sectors of the market -- the top end of the market where buyers are wealthiest, and the bottom end of the new development market where units qualify for Federal Housing Authority-approved loans -- were those where financing came easiest.
According to a Bloomberg news report, lenders are easing credit requirements on jumbo loan limits and narrowing the gap on rates compared with government-backed loans.
Manhattan’s residential market is definitely looking up.
See Halstead Property’s 2nd Quarter 2011 Market Report
For more information or a consultation feel free to email me at Halstead Property
Ross Ellis is a proud member of the Real Estate Board of New York
Renting an Apartment in Manhattan
Renting an apartment in Manhattan isn’t like it used to be.
In the old days, you would see a few apartments, give the landlord one month rent and one month security, signed the lease and moved in.
Not today!
Should you rent in a rental building, a coop or condo?
Today’s renting rules in Manhattan can be daunting, but don’t have to be if you work with a good broker, you’re qualified and organized.
To make finding that perfect rental hassle-free it’s best to work with a broker.
Why? You can find hundreds of rentals online, but most of them are already rented, and on some of these sites the information is not accurate.
While it’s not necessary to work with a broker, it is better for you –especially if you’re busy and new to Manhattan. And in today's rental market you need to decide on an apartment fast. Apartments are being rented quickly these days.
By working with a broker you’ll learn which apartments are for rent and which have already been rented. Your broker can also weed out the type of apartments you don’t want because they’ve likely seen all or most of the rental buildings in the city. They will ensure that the lease is correct and that you have all of the necessary paper work – making your move as seamless as possible.
Whether you find an apartment on your own or work with a broker, make sure you read all documents before entering into any contract. Most leases contain predominantly boilerplate language, but in many cases there are riders to the lease which contain clauses that are added to the lease that changes the lease agreement
And type of leases will vary. A Standard Form of Lease may differ greatly from a Rent Stabilized Lease Agreement or a Cooperative or Condominium Sublease Agreement. Read the language of all documents and always ask questions should it contain something you don't understand.
Make a check list of information to bring with you in order to finalize your lease agreement. In Manhattan you will almost always need all of the following:
1. A letter of employment and salary verification
2. Bank account numbers (checking and savings), as well as any credit card numbers
3. Current bank statements
4. Contact information (names, addresses, phone numbers) of previous landlords
5. Contact information of your personal accountant or attorney, if applicable
6. Contact information of any personal or professional references
7. Tax returns from the last two years
8. Recent (current) pay stubs, usually from the last two pay periods
9. Two forms of personal identification (driver’s license, passport, etc)
10.40-45x the rent in annual income is required. And in some building 80X the rent in annual income is required.
11.If the landlord accepts guarantors and you have a guarantor, your guarantor will likely need to supply the same information as above.
If you are relocating from outside of New York, prepare your funds ahead of time. Landlords will not accept personal out-of-state checks. Bring traveler’s checks or certified bank checks in amounts sufficient to cover two months rent, any brokerage fees, a credit check fee, and any additional fees such as a move-in/move-out fee or building application fee.
Once you have all of your personal and financial documentation in order, you can begin viewing apartments. Do remember that your broker can provide you with a wealth of information to assist you in making an informed decision. Ask a lot of questions about neighborhoods, building types, public transportation access, or anything else that might be of interest to you.
Once you have found an apartment you love, you will then fill out a rental application, or other applicable documents. You or your agent will negotiate agreeable lease terms and then a credit report and reference check will be done.
The last step is to sign the lease and pay all applicable fees. Then it’s move-in day!!!
For more information or a consultation feel free to email me at Halstead Property
SUBSCRIBE to receive email alerts about NYC Real Estate
Ross Ellis is a proud member of the Real Estate Board of New York
In the old days, you would see a few apartments, give the landlord one month rent and one month security, signed the lease and moved in.
Not today!
Should you rent in a rental building, a coop or condo?
Today’s renting rules in Manhattan can be daunting, but don’t have to be if you work with a good broker, you’re qualified and organized.
To make finding that perfect rental hassle-free it’s best to work with a broker.
Why? You can find hundreds of rentals online, but most of them are already rented, and on some of these sites the information is not accurate.
While it’s not necessary to work with a broker, it is better for you –especially if you’re busy and new to Manhattan. And in today's rental market you need to decide on an apartment fast. Apartments are being rented quickly these days.
By working with a broker you’ll learn which apartments are for rent and which have already been rented. Your broker can also weed out the type of apartments you don’t want because they’ve likely seen all or most of the rental buildings in the city. They will ensure that the lease is correct and that you have all of the necessary paper work – making your move as seamless as possible.
Whether you find an apartment on your own or work with a broker, make sure you read all documents before entering into any contract. Most leases contain predominantly boilerplate language, but in many cases there are riders to the lease which contain clauses that are added to the lease that changes the lease agreement
And type of leases will vary. A Standard Form of Lease may differ greatly from a Rent Stabilized Lease Agreement or a Cooperative or Condominium Sublease Agreement. Read the language of all documents and always ask questions should it contain something you don't understand.
Make a check list of information to bring with you in order to finalize your lease agreement. In Manhattan you will almost always need all of the following:
1. A letter of employment and salary verification
2. Bank account numbers (checking and savings), as well as any credit card numbers
3. Current bank statements
4. Contact information (names, addresses, phone numbers) of previous landlords
5. Contact information of your personal accountant or attorney, if applicable
6. Contact information of any personal or professional references
7. Tax returns from the last two years
8. Recent (current) pay stubs, usually from the last two pay periods
9. Two forms of personal identification (driver’s license, passport, etc)
10.40-45x the rent in annual income is required. And in some building 80X the rent in annual income is required.
11.If the landlord accepts guarantors and you have a guarantor, your guarantor will likely need to supply the same information as above.
If you are relocating from outside of New York, prepare your funds ahead of time. Landlords will not accept personal out-of-state checks. Bring traveler’s checks or certified bank checks in amounts sufficient to cover two months rent, any brokerage fees, a credit check fee, and any additional fees such as a move-in/move-out fee or building application fee.
Once you have all of your personal and financial documentation in order, you can begin viewing apartments. Do remember that your broker can provide you with a wealth of information to assist you in making an informed decision. Ask a lot of questions about neighborhoods, building types, public transportation access, or anything else that might be of interest to you.
Once you have found an apartment you love, you will then fill out a rental application, or other applicable documents. You or your agent will negotiate agreeable lease terms and then a credit report and reference check will be done.
The last step is to sign the lease and pay all applicable fees. Then it’s move-in day!!!
For more information or a consultation feel free to email me at Halstead Property
SUBSCRIBE to receive email alerts about NYC Real Estate
Ross Ellis is a proud member of the Real Estate Board of New York
Sunday, June 12, 2011
The High Line: the second phase
The High Line runs through three of Manhattan's most dynamic neighborhoods: the Meatpacking District, West Chelsea, and Hell’s Kitchen/Clinton. When the High Line was built in the 1930s, these neighborhoods were dominated by industrial and transportation uses. Now many of the warehouses and factories have been converted to art galleries, design studios, retailers, restaurants, museums, and residences.
Last week the highly-anticipated second phase of the High Line opened to the public.
The expansion of the freight rail turned promenade between Gansevoort and 20th Streets opened two years ago. It spans 10th Avenue between 20th and 30th Streets, doubles the length of the existing park. New features include the High Line’s first lawn, elevated catwalks and a 30th Street cut-out that lets visitors view the traffic rushing beneath their feet.
The one-mile garden in the sky winds 30 feet above the street through the Meatpacking District, Chelsea and Hells Kitchen.
Onlookers who wandered the grounds were thrilled with the spectacular view, the beautiful landscaping and more places to sit, such as the teak Seating Steps beside the 23rd Street Lawn. The Lawn also offers the High Line’s only river-to-river vantage point.
The High Line’s second phase features a temporary public plaza beneath 30th Street dubbed “The Lot” which serves beer and wine from Colicchio & Sons. A rotating fleet of food trucks such as The Taco Truck and Red Hook Lobster will also serve the square.
Vendors of the High Line’s first phase include: People's Pops at the Chelsea Market Passage, on the High Line near West 16th Street who returns to theHigh Line after their successful debut during a trial run in 2010. They create Greenmarket fruit-based ice pops and shaved ice, transforming local, sustainably grown fruits and herbs into creative and delicious home-made treats. Also a favorite is La NewYorkina atThe Lawn, on the High Line near West 23rd Street. Inspired by the flavors of the chef-owner's native Mexico, La Newyorkina has taken the old and made it new with paletas (ice pops) in flavors that range from mango-chili to hibiscus to fresh coconut.
Now on view at the High Line you can see public art exhibits which include:SARAH SZE, STILL LIFE WITH LANDSCAPE (MODEL FOR A HABITAT)
June 8, 2011 - June, 2012
On the High Line, between West 20th and West 21st Streets
Sarah Sze presents a an elaborate architectural sculpture that allows park visitors to physically enter and pass through the space it outlines, while also attracting birds, butterflies, and insects with perches, feeding spots, and birdbaths.
JULIANNE SWARTZ, DIGITAL EMPATHY
June 8, 2011 - June, 2012
Located within the water fountains, elevators, and public bathrooms on the High Line
Julianne Swartz presents a sound piece that greets visitors with messages of empathy and love in the park's bathrooms, water fountains, and elevators.
LANDSCAPE WITH PATH
JOEL STERNFELD, A RAILROAD ARTIFACT, 30TH ST, MAY 2000
June 2 - 30, 2011
Billboard east of the High Line at West 18th Street
LANDSCAPE WITH PATH
JOEL STERNFELD, A RAILROAD ARTIFACT, 30TH ST, MAY 2000
June 2 - 30, 2011
Billboard east of the High Line at West 18th Street
An iconic photograph by Joel Sternfeld presents the first work in Landscape with Path, a series of three commissioned banners for a billboard next to the High Line.
KIM BECK,SPACE AVAILABLE
March 4, 2011 - January, 2012
Rooftops along Washington Street, between Gansevoort Streets and West 13th Streets
Kim Beck presents three sculptures resembling the skeletal framework behind advertising billboards.
STEPHEN VITIELLO,A BELL FOR EVERY MINUTE
June 23, 2010 - June 20, 2011
14th Street Passage
Artist Stephen Vitiello presents a multi-channel sound installation for which he has recorded bells all over New York City and beyond.
These exhibits make the High Line a cultural art center.
Whether you choose to visit the High Line for its parks, views, art, design studios, retailers, museums, restaurants and food trucks -- or to live there, the High Line is one of New York City’s interesting new neighborhoods enjoyed by New Yorkers and its visitors.
WATCH THIS GREAT INTRO VIDEO TO THE HIGH LINE 2
Friday, May 27, 2011
Manhattan’s famed Sloane mansion going on the auction block
Look back into the history books of New York Society in the late 1800’s and read about Henry T. Sloane and the infamous Sloane mansion in Manhattan.
Henry T. Sloane was a wealthy carpet manufacturer who furnished the new mansions, hotels and clubs of the New York City. He was also known as a philanthropist who donated two physics laboratories to Yale University.
In 1898 a scandal flew through New York society circles in 1898 when Sloane deeded a mansion on the Upper East Side to his wife.
Soon after, life became less than idyllic when Sloane’s wife, Jessie, had an affair with the very handsome and wealthy Perry Belmont (son of August Belmont) and married him just five hours after divorcing Sloane. Henry Sloane set out to build himself a new mansion at 18 East 68th Street, off Fifth Avenue.
Sloane moved into the Beaux-Art mansion with his two young daughters, preventing his former wife from writing to them or even speaking to them on the street until they reached the age of 21, or she could prove she had led a moral life, whichever came first.
The Henry T. Sloane mansion was designed specifically for Sloane by architect Charles Pierrepont H. Gilbert the heir to a furniture empire, in 1905. It spans over18,500 square feet and stands over five stories high. Two of the stories have 17-foot ceilings. There are 15 bedrooms and 17 bathrooms, seven fireplaces, a ballroom and a rooftop garden.
Fast Forward to 2007 when investors paid $20 Million for the property, only to have grandiose plans of flipping it for a huge profit by listing it for $64 million. But it didn’t sell at the asking price and lingered on the market with an asking price of $64 million, to $54 million, to $39 million after the fall of Lehman Brothers … and now to the current price of $37.9 million. Due to the fact the owners are in default of more than $28 Million in loans the famed house is scheduled for auction on June 22nd Street, Room 130 at 50 Centre Street at 2PM.
Calin Onet, a marketing analyst said bidding would likely start 10 to 15 percent higher than the $28.2 Million currently owed on the property.
If the mansion had sold for $64 million in 2008, it would have become the most expensive single residence in city history.
How to rent a Manhattan apartment when your credit isn’t perfect
Renting in Manhattan can be arduous, not to mention stressful if you don’t meet Manhattan landlord requirements.
Many find it difficult to meet landlords' requirements as most require that a potential tenant’s annual income is 40 to 50 times the monthly rent, and that the applicant has good credit. And some landlords require 80 times the monthly rent with good credit.
Yet, there are some potential renters whose annual income or lack of U.S. based credit history does not meet these financial guidelines. And if one is self-employed financial solvency can be even more daunting.
As a Manhattan broker who specializes in sales but also does a fair amount of rentals, I faced an interesting problem. Prior to working with my customer I ran her credit report and it was good and she makes a very good salary so I had no doubts she wouldn’t pass the stringent Manhattan landlord requirements.
Knowing she could meet landlord guidelines, I showed her an amazing apartment on the East Side. However when the landlord ran her credit report, it came back as a “maybe.” Meaning maybe her credit was good and maybe it wasn’t. They had used a different credit reporting company. The landlord suggested a guarantor but at the time, none were available.
Although I had not used them before, I told my customer about Insurent who came to my office and made a presentation. Insurent Lease Guaranty offers easy solutions to quickly getting the apartment potential tenants want. Prospective renters needing the Insurent Guaranty include graduating college students and professional school students entering the workforce; creditworthy employed non-U.S. residents; self-employed persons; relocating persons; non-employed U.S. and non U.S. persons with significant cash liquid assets, retired creditworthy individuals, U.S. students with Responsible Parties, and international students with Responsible Parties.
My customer only needed to complete an application and soon she was approved by Insurent where the landlord received a guaranty on her one year lease. For a fee that represented a small percentage of her total annual rent, she satisfied the landlord's financial and credit requirements while eliminating the hassle of finding an acceptable co-signer or guarantor or putting up significant additional security – which this particular landlord would not accept.
Insurent was there for my customer who will be moving into her new apartment in just a few weeks.
If you fall into any of the above categories, there is hope.
Many find it difficult to meet landlords' requirements as most require that a potential tenant’s annual income is 40 to 50 times the monthly rent, and that the applicant has good credit. And some landlords require 80 times the monthly rent with good credit.
Yet, there are some potential renters whose annual income or lack of U.S. based credit history does not meet these financial guidelines. And if one is self-employed financial solvency can be even more daunting.
As a Manhattan broker who specializes in sales but also does a fair amount of rentals, I faced an interesting problem. Prior to working with my customer I ran her credit report and it was good and she makes a very good salary so I had no doubts she wouldn’t pass the stringent Manhattan landlord requirements.
Knowing she could meet landlord guidelines, I showed her an amazing apartment on the East Side. However when the landlord ran her credit report, it came back as a “maybe.” Meaning maybe her credit was good and maybe it wasn’t. They had used a different credit reporting company. The landlord suggested a guarantor but at the time, none were available.
Although I had not used them before, I told my customer about Insurent who came to my office and made a presentation. Insurent Lease Guaranty offers easy solutions to quickly getting the apartment potential tenants want. Prospective renters needing the Insurent Guaranty include graduating college students and professional school students entering the workforce; creditworthy employed non-U.S. residents; self-employed persons; relocating persons; non-employed U.S. and non U.S. persons with significant cash liquid assets, retired creditworthy individuals, U.S. students with Responsible Parties, and international students with Responsible Parties.
My customer only needed to complete an application and soon she was approved by Insurent where the landlord received a guaranty on her one year lease. For a fee that represented a small percentage of her total annual rent, she satisfied the landlord's financial and credit requirements while eliminating the hassle of finding an acceptable co-signer or guarantor or putting up significant additional security – which this particular landlord would not accept.
Insurent was there for my customer who will be moving into her new apartment in just a few weeks.
If you fall into any of the above categories, there is hope.
Thursday, April 7, 2011
Coming soon: Manhattan rents hikes
If you’re finding it difficult to rent an apartment in New York now it could be because there is little inventory and rents are expected to rise.
Last year landlords offered a free month of rent, paid broker’s fees and did whatever it took to rent their apartments. Those days are over. The apartment vacancy rate in New York fell in the first quarter, dropping to just 2.8%.
Last year the median rent for a Manhattan apartment with landlord concessions $2,808, up 7.4%. Renters grabbed the apartments as soon as they saw them. On average, units stayed on the market for 40 days, down from 86 a year ago. Listings fell 25.6% from last year to 3,874 apartments.
Manhattan's rental market is rebounding faster than its sales market. While lower unemployment has boosted demand for rentals. Today if a renter sees an apartment they love, there’s no time to think about it. Take it or lose it because the market is definitely tightening.
Leases are being signed in several of the pricey new rental buildings where studios start at $2,700.
With less apartments vacant and new reports showing that the rental market is hot, renters can expect competition and prices to start heating up again very soon.
Last year landlords offered a free month of rent, paid broker’s fees and did whatever it took to rent their apartments. Those days are over. The apartment vacancy rate in New York fell in the first quarter, dropping to just 2.8%.
Last year the median rent for a Manhattan apartment with landlord concessions $2,808, up 7.4%. Renters grabbed the apartments as soon as they saw them. On average, units stayed on the market for 40 days, down from 86 a year ago. Listings fell 25.6% from last year to 3,874 apartments.
Manhattan's rental market is rebounding faster than its sales market. While lower unemployment has boosted demand for rentals. Today if a renter sees an apartment they love, there’s no time to think about it. Take it or lose it because the market is definitely tightening.
Leases are being signed in several of the pricey new rental buildings where studios start at $2,700.
With less apartments vacant and new reports showing that the rental market is hot, renters can expect competition and prices to start heating up again very soon.
Wednesday, April 6, 2011
3 of top 10 most expensive U.S. homes sold in Manhattan
Billionaires are keeping the real estate world very busy across the country. Three of those expensive deals happened right here in Manhattan.
Coming in at number 6 on the list is a single-family townhouse sitting approximately 20,000 square feet on East 75th Street. Reportedly sold to private equity investor J. Christopher Flowers fro $53 million.
Coming in at No. 7 on the list is developer Harry Macklowe, who bought a Plaza Hotel condo for $51.5 million. The 13,000 square foot condo was bought by developer Harry Macklowe in 2007 for a cool $51.5 million.
Lastly coming in at No. 8, Russian oil man Len Blavatnik bought an upper East Side townhouse on East 64th Street in 2007 for a cool $50 million. The person who sold the townhouse to him apparently paid only $4.375 million for it in 1994
What kind of home would you buy if you could spend $50 million or more?
Coming in at number 6 on the list is a single-family townhouse sitting approximately 20,000 square feet on East 75th Street. Reportedly sold to private equity investor J. Christopher Flowers fro $53 million.
Coming in at No. 7 on the list is developer Harry Macklowe, who bought a Plaza Hotel condo for $51.5 million. The 13,000 square foot condo was bought by developer Harry Macklowe in 2007 for a cool $51.5 million.
Lastly coming in at No. 8, Russian oil man Len Blavatnik bought an upper East Side townhouse on East 64th Street in 2007 for a cool $50 million. The person who sold the townhouse to him apparently paid only $4.375 million for it in 1994
What kind of home would you buy if you could spend $50 million or more?
Saturday, April 2, 2011
First Quarter 2011 Manhattan Market Report
For New Yorkers who follow the real estate market, Halstead Property one of the premier real estate firms in Manhattan has just issued its First Quarter 2011 Manhattan Market Report.
After six consecutive quarters of growth, Manhattan apartment sales prices averaged $1,364,733 in the first quarter of 2011, virtually unchanged from a year ago, but 5% less than the fourth quarter of 2010. This marked the first time since the second quarter of 2009 that the average price declined from the prior quarter. The median apartment price of $787,500 was 4% lower than the first quarter of 2010, while the number of sales fell 23% from 2010’s first quarter.
Part of the decline in prices and in the number of sales may be attributable to the scheduled expiration of the Bush-era tax cuts at the end of 2010. Although they were ultimately extended, the extension wasn’t signed until the middle of December. This was after many homeowners had already made the decision to sell before the year ended to avoid paying a higher capital gains rate. Closings that might have occurred in the first quarter of 2011 were pushed forward, which help fuel the decline in transactions.
This rush to sell was reflected in the spike in high-end closings beginning in November, which pushed the average price up to over $1.6 million by December. January of 2011 saw closing prices return to where they were in October, at approximately $1.34 million.
The average co-op sale price of $1,070,229 was 1% lower than a year ago, although prices did rise for two-bedroom and three-bedroom and larger units. Condo prices averaged $1,745,464 during the first quarter, slightly higher than a year ago. Condo pricing gains were led by one- and two-bedroom apartments.
Recent revisions to economic data indicate that New York City weathered the recession much better than economists originally thought. In total about 140,000 jobs were lost, or roughly 40,000 less than the previous estimate. Job growth has picked up recently in the higher-paying sectors such as finance and business services, and Wall Street just had its second most profitable year ever. While cash bonuses fell to $20.8 billion in 2010, this was expected as more firms are deferring compensation and paying higher salaries.
The full version of the report is available on the Halstead website at the link below:
http://media.halstead.com/pdf/Halstead_QuarterlyReport_1Q11.pdf
After six consecutive quarters of growth, Manhattan apartment sales prices averaged $1,364,733 in the first quarter of 2011, virtually unchanged from a year ago, but 5% less than the fourth quarter of 2010. This marked the first time since the second quarter of 2009 that the average price declined from the prior quarter. The median apartment price of $787,500 was 4% lower than the first quarter of 2010, while the number of sales fell 23% from 2010’s first quarter.
Part of the decline in prices and in the number of sales may be attributable to the scheduled expiration of the Bush-era tax cuts at the end of 2010. Although they were ultimately extended, the extension wasn’t signed until the middle of December. This was after many homeowners had already made the decision to sell before the year ended to avoid paying a higher capital gains rate. Closings that might have occurred in the first quarter of 2011 were pushed forward, which help fuel the decline in transactions.
This rush to sell was reflected in the spike in high-end closings beginning in November, which pushed the average price up to over $1.6 million by December. January of 2011 saw closing prices return to where they were in October, at approximately $1.34 million.
The average co-op sale price of $1,070,229 was 1% lower than a year ago, although prices did rise for two-bedroom and three-bedroom and larger units. Condo prices averaged $1,745,464 during the first quarter, slightly higher than a year ago. Condo pricing gains were led by one- and two-bedroom apartments.
Recent revisions to economic data indicate that New York City weathered the recession much better than economists originally thought. In total about 140,000 jobs were lost, or roughly 40,000 less than the previous estimate. Job growth has picked up recently in the higher-paying sectors such as finance and business services, and Wall Street just had its second most profitable year ever. While cash bonuses fell to $20.8 billion in 2010, this was expected as more firms are deferring compensation and paying higher salaries.
The full version of the report is available on the Halstead website at the link below:
http://media.halstead.com/pdf/Halstead_QuarterlyReport_1Q11.pdf
Sunday, March 6, 2011
Saturday, March 5, 2011
Friday, January 21, 2011
NYC Winter Restaurant Week 2011 Is Here: January 24 – February 6th
It’s that time again! My bi-annual positing of NYC Restaurant Week!NYC Winter Restaurant Week is here! January 24 – February 6th
Twice a year, in January/February and June/July, New Yorkers and those visiting New York have a unique opportunity to experience some of New York City’s finest restaurants for a fraction of the cost. The finest restaurants in NYC participate in “Restaurant Week” where they offer a three-course lunch for $24.07 and some offer dinner for $35.00. (beverage, tax and gratuities are not included.)
And if you’re in NYC searching for a new home what better way to learn about the fabulous restaurants in the neighborhoods you may be considering!
Dine at sumptuous restaurants such as 21 Club, Aquavit, Asia de Cuba, Aureole, Bar Boulud, Café Boulud, Capsouto Frères, Ca Va Brasserie by Todd English, Cipriani Wall Street, David Burke Townhouse, Gotham Bar and Grill, Le Cirque, Le Perigord, L’Ecole-The Restaurant of The French Culinary Institute, Michael’s Restaurant, Morimoto, Mr. Chow, Nobu, One If By Land – Two If By Sea, Palm Court, Patroon, Picholine, Remi’s, Tao and many more of the best of New York City restaurants!
With so many global buyers still coming to Manhattan to purchase apartments, it’s a great time to enjoy a Manhattan ritual and participate in NYC Restaurant Week. And in this recession, what New Yorker wouldn’t want to visit their favorite restaurant at a discount price?
Reservations are a MUST and are now open. Visit nycgo.com and book your reservations directly through their web site. To sample restaurants in a neighborhood you might be thinking of moving to, take advantage of NYC Restaurant Week Winter 2011 … The Best Restaurants … The Best Prices!
To learn more about NYC Restaurant week and to book your reservations ckick here at NYC the Official Guide to NYC Restaurant Week!
You’ll not only save a lot but have a gastronomic feast.
NYC Restaurant Week Tips:
Research – Get recommendations from friends and search the Internet for ratings. Most of the participating restaurants are the best that New York has to offer.
Reserve Early – Normally, getting a reservation at these restaurants is difficult. Plan ahead. Reservations early in the week are usually easier than Thursdays or Fridays. Call to see if there were any cancellations as well.
Dress Code – When dining in New York’s best restaurants, dress your best.
Tip Higher – Tipping more than 20% will get you first-class service that New Yorkers expect from these top restaurants.
Sunday, January 16, 2011
4th Quarter 2010 Manhattan Sales Market Report
The last quarter of 2010 in Manhattan real estate market will be known for the year of luxury as homes of $3 million and up and were popular sales in last quarter of 2010.
Prices for Manhattan apartments continued to edge upward, as their average sale price of $1,432,787 was 8% higher than a year ago. This marked the sixth straight quarter that the average price has risen.
While the number of recorded transactions fell 25% from a year ago, the fourth quarter of 2009 was uncharacteristically busy due to pent-up demand after the collapse of Lehman Brothers had frozen the market earlier that year.
To view the 4Q 2010 Market Report Click Here
Prices for Manhattan apartments continued to edge upward, as their average sale price of $1,432,787 was 8% higher than a year ago. This marked the sixth straight quarter that the average price has risen.
While the number of recorded transactions fell 25% from a year ago, the fourth quarter of 2009 was uncharacteristically busy due to pent-up demand after the collapse of Lehman Brothers had frozen the market earlier that year.
To view the 4Q 2010 Market Report Click Here
Saturday, January 1, 2011
New York on sale: The top 20 residential real estate deals of 2010
Although it was not a stellar New York City real estate market, there were some incredible luxury homes sold in Manhattan in 2010 . In fact, the top 20 NYC real estate sales of 2010 added together totaled $539 million.
Here are the top 20:
1. $44,000,000
1009 5th Ave New York, NY 10028
A billionaire from Mexico bought the landmark Duke Semans Mansion, one of Fifth Avenue’s last great “Beaux Arts Style” private residences, built in 1901, complete with 7 floors. The originalprice of the home was $40M in ‘06.
2. $40,000,000
15 Central Park West New York, NY 10023
The 41st floor penthouse at 15 Central Park West was the Limestone’s biggest sale of the year, a staggering $9,940 per square foot.
Built between 2006-2008 and designed by Robert A.M. Stern this gem is located at the corner of West 61st Street and Central Park West and houses the who’s who of business, finance, entertainment and other industries,
3. $33,177,083
1 Central Park West New York, NY 10023
This was a foreclosed penthouse at the Trump International which allegedly needs millions more in renovations by the reported buyer a party king from Malaysia.
The building overlooks Central Park at the juncture of Central Park West and Columbus Circle. The first 17 floors of the 52 story building are made up of 167 hotel units ranging in size from Studios to Two Bedrooms that overlook the Park and Broadway. The upper portion of the building, known as the Tower, is comprised entirely of residential condominiums with gracious proportions and limitless views. All the residences feature floor-to-ceiling windows and top of the line appliances throughout. Jean George’s flagship restaurant is located off of the lobby and the building features a full service spa and fitness center with pool.
4. $31,500,000
400 W 12th St New York, NY 10014
A Houston sports team owner wanted $39.5 million for this unfinished penthouse atop the West Village’s Superior Ink, but the sale price is still a Downtown condo record.
The building is the condo record. West Village’s most coveted new condominium and offers breathtaking 360 degree views of the Hudson River, the Manhattan skyline and beyond. Superior Ink is a full service building offering its residents a private screening room, entertainment lounge, state-of-the-art fitness center with Pilates/Yoga room, children’s playroom, 24-hr concierge and doorman and 24-hr on premise valet parking.
5. $30,000,000
1 Central Park west New York, NY 10023
The same 5,500 square-foot penthouse that needs much at the Trump International which originally sold for $33M in a foreclosure auction was then resold this month, to a couple who already owns a place in the building.
The building overlooks Central Park at the juncture of Central Park West and Columbus Circle. The first 17 floors of the 52 story building are made up of 167 hotel units ranging in size from Studios to Two Bedrooms that overlook the Park and Broadway. The upper portion of the building, known as the Tower, is comprised entirely of residential condominiums with gracious proportions and limitless views. All the residences feature floor-to-ceiling windows and top of the line appliances throughout. Jean George’s flagship restaurant is located off of the lobby and the building features a full service spa and fitness center with pool.
6. $28,597,895
1 Central Park S New York, NY 10019
The massive 9,000 plus square feet State Suite on the third floor in The Plaza was supposed to sell for $45 million, but the buyer backed out, and a new buyer got a “bargain.” Back on the market for $39 million, is not its real estate bubble history (bought by an Italian businessman who failed to close on the $45 million deal after whispers he was looking to resell for $100 million) nor is it the massive L-shaped floor plan with a bananas 55′ x 13′ gallery. It’s those incredible marble columns that closed the deal!
This lifestyle is further enhanced by access to all the hotel services and restaurants of the Plaza, and the added security of entering the Plaza through the beautifully restored residential lobby on Central Park South.
7. $27,500,000
141 Prince St New York, NY 10012
A famous fashion mogul and his wife sold this Soho loft penthouse (known for its rooftop water tower) to a friend following their split. They bought it from a famous media mogul in 2006 for $25 million. This coop is in one of the most coveted areas of Soho.
8. $26,000,000
778 Park Ave New York, NY 10021
This huge fifth floor apartment was a lofty yet quiet sale, the famed co-op that once housed Brooke Astor. The apartment was never listed and purchased through a trust.
The building was designed in 1931 by Rosario Candela, who is to this day New York’s most celebrated luxury residential architect.
9. $25,000,000
115 Central Park West New York, NY 10023
Following the Tonight Show debacle, Conan O’Brien sold his duplex as he’s a full-time West Coaster now. He has found a buyer, brokers say, at or close to the $29.5 million asking price. The buyer wasn’t identified.
Located at 71st and Central Parl West, one of Central Park West’s famous twin-towered apartment houses, the 29 story art deco Majestic is considered to be among the West Side’s finest pre-war cooperatives apartment houses. Residents enjy the finest service and amenities, such as a state of the art gym, penthouse terrace for exclusive use by residents, bike room, children’s playroom and private planted gardens.
10. $25,000,000
950 5th Ave New York, NY 10075
A former Goldman Sachs bigwig sold his duplex in the tiny and prestigious 950 Fifth Avenue co-op to an unknown buyer. He was asking $29M. The apartment situated in one of the Upper Eastside’s most prestigious white glove co-operatives on Fifth Avenue designed by James E. R. Carpenter, this palatial and sun-drenched high floor prewar thirteen into twelve room duplex features some of the most spectacular formal entertainment space in New York with breathtaking views of Central Park and the southern city skyline.
Grand and beautifully proportioned, this pristine home is in triple mint condition with an abundance of original prewar details, high ceilings and beautiful herringbone floors. All mechanical elements of the apartment have been fully modernized as well including central air conditioning, Lutron lighting and updated media and electrical wiring. The apartment has been featured in Architectural Digest.
Off its own private elevator landing is the massive entrance gallery with marble flooring and limestone walls. There is a lovely powder room and polished mahogany paneled wet bar. The expansive corner living room faces west and south with oversized picture windows, panoramic views of Central Park and a wood burning fireplace.
11. $24,438,000
1 Central Park S New York, NY 10019
The other penthouse that’s on this list twice. A casino mogul flipped this penthouse at The Plaza for a slight profit shortly after buying it. Not every resale at the Plaza winds up losing money. Some break even! It’s been reported that the casino mogul has flipped the apartment for $24.4 million to a buyer who lost to him during the summer’s bidding war. The mogul got about $1 million more than he paid for it, but once taxes and commissions are accounted for, he probably only broke even. He still did better-or at least walked away with less of a headache-than the apartment’s previous owner, a hedge funder who sued Plaza developer El-Ad Properties for breach of contract and the return of his deposit.
The Plaza is grand scale living, quiet and has a spirit of its own which draws one into a lifestyle that only “Eloise” could have penetrated.
12. $24,065,000
2 N Moore Street New York, NY 10013
Tribeca’s infamous “Our Suburb” house finally found a buyer, albeit for far less than the original $35 million asking price. It was reported last month that 2 N. Moore Street, all 11,000+ square feet of it, had found a buyer for just under $24 million, a nice bargain from its original asking price of $35 million back in 2008. The single-family house-part old, part new, all “our suburb,” as the family that built it once described the place-old for a bit more than that, $24,065,000, a massive deal for downtown no matter how you look at it. The purchaser is an LLC.
This unique mansion is a one of a kind masterpiece fit for the most discerning buyer. The 65′ wide townhouse has every imaginable amenity and more than 11,000 interior and 1,500 exterior square feet. Spacious and elegant, this home includes 6 bedrooms, 7 full baths, 4 powder rooms, 3 fireplaces, a staff apartment with separate entrance, an art room, a grand library, a screening and billiards room, an outdoor dining atrium, a finished lower level and a 2-3 car garage. The generous outdoor spaces on the 2nd & 3rd floors have both privacy and views and have been masterfully landscaped, including an irrigation system and mist outdoor cooling system.
13. $23,980,000
515 Park Ave New York, NY 10022
What do you get for the Swedish lingerie manufacturer who has everything? A $24M duplex in the tallest residential building on Park Avenue. Page Six reported that the Swedish lingerie manufacturer has bought this palatial 13-room duplex for $24 million even though he’s based in Hong Kong full time.
The tallest residential building on Park Avenue, this slim, 43-story tower opened in 2000 and was developed by the Zeckendorf General Partnership and the Whitehall Real Estate Fund has only 38 apartments.
14. $23,980,000
15 W 63rd St New York, NY 10023
A couple from a far-away land bought this oft-listed 15-room duplex high up in the Park Laurel near Central Park West and Lincoln Center. The apartment boasts 7,738 square feet and 1,244sf of landscaped terrace. There are Central Park views from nearly every room. A 35′ entry gallery and a grand staircase goes up to 5 bedrooms and more.
This very handsome, mid-block apartment tower, was built in 2000, and is a significant new component of the west skyline of Central Park.
Designed by Beyer Blinder Belle and Costas Kondylis, it has a nicely detailed red-brick façade with white detailing that enhances the vistas of the Upper West Side from Central Park as it partially blocks views of a very large, beige-brick apartment building just to the west of it on the same block.
The 40-story tower has 53 condominium apartments ranging in size from two- to four-bedrooms.
15. $23,689,586
1 York St New York, NY 10013
The all-glass 6,000 Square Foot penthouse atop Tribeca’s One York sold for a $10 million discount, but after a long spell on the market, we don’t think the developer is complaining. One year ago, the two glass-wrapped floors atop Tribeca’s One York got quite the price hike: from $25 million up to an asking price of $34 million.
The developers of the Enrique Norten-designed building have to be pretty excited to finally sell this home for north of $20 million. The buyer is an anonymous buyer cloaked in secrecy behind the an LLC.
One York Street, a brick warehouse dating back to before the Civil War was transformed into a modern 136,000-square-foot condominium complex. The building occupies a full city block, bound by Laight and York Streets, St. John’s Lane, and Avenue of the Americas.
The new structure features a 14-story glass tower and contains 40 loft units, 25 of them located within the original building. The development’s first level houses a lobby and 9,000 square feet of high-end retail space, and the second level holds 14,000 square feet of office space. The remaining 12 levels are dedicated to condominiums, with units on the uppermost floors featuring wrap-around terraces or large balconies offering residents 360-degree views of the Manhattan skyline.
16. $23,469,632
1 Central Park S New York, NY 10019
The other Plaza penthouse that’s on this list twice owned by a Casino Mogul was owned was owned for about four months before selling it for about a million dollars more!
17. $22,000,000
2 E 88th Street New York, NY 10128
A hedge funder paid $4.5 million over the asking price at 2 East 88th Street for a full floor designed for “preeminent collectors of contemporary art.”
This extraordinary Fifth Avenue home was designed by the noted architectural firm, Shelton, Mindel & Associates, as a “private residential gallery” for preeminent collectors of contemporary art. It comprises the entire eleventh floor of an intimate, fully serviced and highly desirable prewar cooperative and features large-paned windows with virtually 180 degrees of unparalleled and dramatic vistas of Manhattan. These unobstructed, majestic views overlook Central Park and the Reservoir to the dramatic skyline of Central Park West, as well as upper Fifth Avenue beyond the Guggenheim Museum. These wonderful urban landscapes, framed as they are, complement the over eleven-foot-high walls throughout the residence and showcase a renowned art collection.
18. $21,995,500
720 Park Ave New York, NY 10021
A NY Philanthropist/Socialite got approved by the board at 720 Park, which isn’t even easy for someone of that caliber. The full-floor apartment is said to be “a lovely layout but it’s tired.”
This 15-room, fourth-floor nest for $33 million in November 2008 was the eye of the post-Lehman storm.
One of the city’s most exclusive and prestigious buildings, 720 Park Avenue was designed by Rosario Candela and Cross & Cross, who also collaborated on the design of One Sutton Place South, another of the city’s grandest residences.
Candela is widely considered to have been the country’s greatest designer of luxury apartment buildings and he collaborated with many of the city’s most famous architectural firms.
19. $21,011,434
995 5th Ave New York, NY 10075
One of the last remaining units in the converted Stanhope Hotel, this 8,000-square-footer was once asking $33 million.
The finest on Fifth, elegant and pristine full floor condop residence with private elevator entry and sweeping views of Central Park, The Metropolitan Museum, George Washington Bridge and New York Skyline. Majestically restored, expansive residence with 42 ft. living room along with a spacious corner dining room and library on the Park.
20. $20,000,000
13 E 67th St New York, NY 10065
A New York Artist bought this 10,000-square-foot townhouse and filed plans to combine it with the one next door, which he bought last year for $12M. There are no interior pics or word on how the artist plans to renovate the space.
The six-story neo-classical limestone town house in 1921. Mrs. Rockefeller bought the house in 1955, after she split with Winthrop Rockefeller, brother of Nelson.
Here are the top 20:
1. $44,000,000
1009 5th Ave New York, NY 10028
A billionaire from Mexico bought the landmark Duke Semans Mansion, one of Fifth Avenue’s last great “Beaux Arts Style” private residences, built in 1901, complete with 7 floors. The originalprice of the home was $40M in ‘06.
2. $40,000,000
15 Central Park West New York, NY 10023
The 41st floor penthouse at 15 Central Park West was the Limestone’s biggest sale of the year, a staggering $9,940 per square foot.
Built between 2006-2008 and designed by Robert A.M. Stern this gem is located at the corner of West 61st Street and Central Park West and houses the who’s who of business, finance, entertainment and other industries,
3. $33,177,083
1 Central Park West New York, NY 10023
This was a foreclosed penthouse at the Trump International which allegedly needs millions more in renovations by the reported buyer a party king from Malaysia.
The building overlooks Central Park at the juncture of Central Park West and Columbus Circle. The first 17 floors of the 52 story building are made up of 167 hotel units ranging in size from Studios to Two Bedrooms that overlook the Park and Broadway. The upper portion of the building, known as the Tower, is comprised entirely of residential condominiums with gracious proportions and limitless views. All the residences feature floor-to-ceiling windows and top of the line appliances throughout. Jean George’s flagship restaurant is located off of the lobby and the building features a full service spa and fitness center with pool.
4. $31,500,000
400 W 12th St New York, NY 10014
A Houston sports team owner wanted $39.5 million for this unfinished penthouse atop the West Village’s Superior Ink, but the sale price is still a Downtown condo record.
The building is the condo record. West Village’s most coveted new condominium and offers breathtaking 360 degree views of the Hudson River, the Manhattan skyline and beyond. Superior Ink is a full service building offering its residents a private screening room, entertainment lounge, state-of-the-art fitness center with Pilates/Yoga room, children’s playroom, 24-hr concierge and doorman and 24-hr on premise valet parking.
5. $30,000,000
1 Central Park west New York, NY 10023
The same 5,500 square-foot penthouse that needs much at the Trump International which originally sold for $33M in a foreclosure auction was then resold this month, to a couple who already owns a place in the building.
The building overlooks Central Park at the juncture of Central Park West and Columbus Circle. The first 17 floors of the 52 story building are made up of 167 hotel units ranging in size from Studios to Two Bedrooms that overlook the Park and Broadway. The upper portion of the building, known as the Tower, is comprised entirely of residential condominiums with gracious proportions and limitless views. All the residences feature floor-to-ceiling windows and top of the line appliances throughout. Jean George’s flagship restaurant is located off of the lobby and the building features a full service spa and fitness center with pool.
6. $28,597,895
1 Central Park S New York, NY 10019
The massive 9,000 plus square feet State Suite on the third floor in The Plaza was supposed to sell for $45 million, but the buyer backed out, and a new buyer got a “bargain.” Back on the market for $39 million, is not its real estate bubble history (bought by an Italian businessman who failed to close on the $45 million deal after whispers he was looking to resell for $100 million) nor is it the massive L-shaped floor plan with a bananas 55′ x 13′ gallery. It’s those incredible marble columns that closed the deal!
This lifestyle is further enhanced by access to all the hotel services and restaurants of the Plaza, and the added security of entering the Plaza through the beautifully restored residential lobby on Central Park South.
7. $27,500,000
141 Prince St New York, NY 10012
A famous fashion mogul and his wife sold this Soho loft penthouse (known for its rooftop water tower) to a friend following their split. They bought it from a famous media mogul in 2006 for $25 million. This coop is in one of the most coveted areas of Soho.
8. $26,000,000
778 Park Ave New York, NY 10021
This huge fifth floor apartment was a lofty yet quiet sale, the famed co-op that once housed Brooke Astor. The apartment was never listed and purchased through a trust.
The building was designed in 1931 by Rosario Candela, who is to this day New York’s most celebrated luxury residential architect.
9. $25,000,000
115 Central Park West New York, NY 10023
Following the Tonight Show debacle, Conan O’Brien sold his duplex as he’s a full-time West Coaster now. He has found a buyer, brokers say, at or close to the $29.5 million asking price. The buyer wasn’t identified.
Located at 71st and Central Parl West, one of Central Park West’s famous twin-towered apartment houses, the 29 story art deco Majestic is considered to be among the West Side’s finest pre-war cooperatives apartment houses. Residents enjy the finest service and amenities, such as a state of the art gym, penthouse terrace for exclusive use by residents, bike room, children’s playroom and private planted gardens.
10. $25,000,000
950 5th Ave New York, NY 10075
A former Goldman Sachs bigwig sold his duplex in the tiny and prestigious 950 Fifth Avenue co-op to an unknown buyer. He was asking $29M. The apartment situated in one of the Upper Eastside’s most prestigious white glove co-operatives on Fifth Avenue designed by James E. R. Carpenter, this palatial and sun-drenched high floor prewar thirteen into twelve room duplex features some of the most spectacular formal entertainment space in New York with breathtaking views of Central Park and the southern city skyline.
Grand and beautifully proportioned, this pristine home is in triple mint condition with an abundance of original prewar details, high ceilings and beautiful herringbone floors. All mechanical elements of the apartment have been fully modernized as well including central air conditioning, Lutron lighting and updated media and electrical wiring. The apartment has been featured in Architectural Digest.
Off its own private elevator landing is the massive entrance gallery with marble flooring and limestone walls. There is a lovely powder room and polished mahogany paneled wet bar. The expansive corner living room faces west and south with oversized picture windows, panoramic views of Central Park and a wood burning fireplace.
11. $24,438,000
1 Central Park S New York, NY 10019
The other penthouse that’s on this list twice. A casino mogul flipped this penthouse at The Plaza for a slight profit shortly after buying it. Not every resale at the Plaza winds up losing money. Some break even! It’s been reported that the casino mogul has flipped the apartment for $24.4 million to a buyer who lost to him during the summer’s bidding war. The mogul got about $1 million more than he paid for it, but once taxes and commissions are accounted for, he probably only broke even. He still did better-or at least walked away with less of a headache-than the apartment’s previous owner, a hedge funder who sued Plaza developer El-Ad Properties for breach of contract and the return of his deposit.
The Plaza is grand scale living, quiet and has a spirit of its own which draws one into a lifestyle that only “Eloise” could have penetrated.
12. $24,065,000
2 N Moore Street New York, NY 10013
Tribeca’s infamous “Our Suburb” house finally found a buyer, albeit for far less than the original $35 million asking price. It was reported last month that 2 N. Moore Street, all 11,000+ square feet of it, had found a buyer for just under $24 million, a nice bargain from its original asking price of $35 million back in 2008. The single-family house-part old, part new, all “our suburb,” as the family that built it once described the place-old for a bit more than that, $24,065,000, a massive deal for downtown no matter how you look at it. The purchaser is an LLC.
This unique mansion is a one of a kind masterpiece fit for the most discerning buyer. The 65′ wide townhouse has every imaginable amenity and more than 11,000 interior and 1,500 exterior square feet. Spacious and elegant, this home includes 6 bedrooms, 7 full baths, 4 powder rooms, 3 fireplaces, a staff apartment with separate entrance, an art room, a grand library, a screening and billiards room, an outdoor dining atrium, a finished lower level and a 2-3 car garage. The generous outdoor spaces on the 2nd & 3rd floors have both privacy and views and have been masterfully landscaped, including an irrigation system and mist outdoor cooling system.
13. $23,980,000
515 Park Ave New York, NY 10022
What do you get for the Swedish lingerie manufacturer who has everything? A $24M duplex in the tallest residential building on Park Avenue. Page Six reported that the Swedish lingerie manufacturer has bought this palatial 13-room duplex for $24 million even though he’s based in Hong Kong full time.
The tallest residential building on Park Avenue, this slim, 43-story tower opened in 2000 and was developed by the Zeckendorf General Partnership and the Whitehall Real Estate Fund has only 38 apartments.
14. $23,980,000
15 W 63rd St New York, NY 10023
A couple from a far-away land bought this oft-listed 15-room duplex high up in the Park Laurel near Central Park West and Lincoln Center. The apartment boasts 7,738 square feet and 1,244sf of landscaped terrace. There are Central Park views from nearly every room. A 35′ entry gallery and a grand staircase goes up to 5 bedrooms and more.
This very handsome, mid-block apartment tower, was built in 2000, and is a significant new component of the west skyline of Central Park.
Designed by Beyer Blinder Belle and Costas Kondylis, it has a nicely detailed red-brick façade with white detailing that enhances the vistas of the Upper West Side from Central Park as it partially blocks views of a very large, beige-brick apartment building just to the west of it on the same block.
The 40-story tower has 53 condominium apartments ranging in size from two- to four-bedrooms.
15. $23,689,586
1 York St New York, NY 10013
The all-glass 6,000 Square Foot penthouse atop Tribeca’s One York sold for a $10 million discount, but after a long spell on the market, we don’t think the developer is complaining. One year ago, the two glass-wrapped floors atop Tribeca’s One York got quite the price hike: from $25 million up to an asking price of $34 million.
The developers of the Enrique Norten-designed building have to be pretty excited to finally sell this home for north of $20 million. The buyer is an anonymous buyer cloaked in secrecy behind the an LLC.
One York Street, a brick warehouse dating back to before the Civil War was transformed into a modern 136,000-square-foot condominium complex. The building occupies a full city block, bound by Laight and York Streets, St. John’s Lane, and Avenue of the Americas.
The new structure features a 14-story glass tower and contains 40 loft units, 25 of them located within the original building. The development’s first level houses a lobby and 9,000 square feet of high-end retail space, and the second level holds 14,000 square feet of office space. The remaining 12 levels are dedicated to condominiums, with units on the uppermost floors featuring wrap-around terraces or large balconies offering residents 360-degree views of the Manhattan skyline.
16. $23,469,632
1 Central Park S New York, NY 10019
The other Plaza penthouse that’s on this list twice owned by a Casino Mogul was owned was owned for about four months before selling it for about a million dollars more!
17. $22,000,000
2 E 88th Street New York, NY 10128
A hedge funder paid $4.5 million over the asking price at 2 East 88th Street for a full floor designed for “preeminent collectors of contemporary art.”
This extraordinary Fifth Avenue home was designed by the noted architectural firm, Shelton, Mindel & Associates, as a “private residential gallery” for preeminent collectors of contemporary art. It comprises the entire eleventh floor of an intimate, fully serviced and highly desirable prewar cooperative and features large-paned windows with virtually 180 degrees of unparalleled and dramatic vistas of Manhattan. These unobstructed, majestic views overlook Central Park and the Reservoir to the dramatic skyline of Central Park West, as well as upper Fifth Avenue beyond the Guggenheim Museum. These wonderful urban landscapes, framed as they are, complement the over eleven-foot-high walls throughout the residence and showcase a renowned art collection.
18. $21,995,500
720 Park Ave New York, NY 10021
A NY Philanthropist/Socialite got approved by the board at 720 Park, which isn’t even easy for someone of that caliber. The full-floor apartment is said to be “a lovely layout but it’s tired.”
This 15-room, fourth-floor nest for $33 million in November 2008 was the eye of the post-Lehman storm.
One of the city’s most exclusive and prestigious buildings, 720 Park Avenue was designed by Rosario Candela and Cross & Cross, who also collaborated on the design of One Sutton Place South, another of the city’s grandest residences.
Candela is widely considered to have been the country’s greatest designer of luxury apartment buildings and he collaborated with many of the city’s most famous architectural firms.
19. $21,011,434
995 5th Ave New York, NY 10075
One of the last remaining units in the converted Stanhope Hotel, this 8,000-square-footer was once asking $33 million.
The finest on Fifth, elegant and pristine full floor condop residence with private elevator entry and sweeping views of Central Park, The Metropolitan Museum, George Washington Bridge and New York Skyline. Majestically restored, expansive residence with 42 ft. living room along with a spacious corner dining room and library on the Park.
20. $20,000,000
13 E 67th St New York, NY 10065
A New York Artist bought this 10,000-square-foot townhouse and filed plans to combine it with the one next door, which he bought last year for $12M. There are no interior pics or word on how the artist plans to renovate the space.
The six-story neo-classical limestone town house in 1921. Mrs. Rockefeller bought the house in 1955, after she split with Winthrop Rockefeller, brother of Nelson.
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