Manhattan NYC Condos - New Construction - Conversions - Resales

Manhattan Market Report Fourth Quarter 2011

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Fri, 06 Jan 2012 17:01:15 -0500

Although sales experienced a seasonal slowing in the Fourth Quarter, the value of Manhattan real estate continues to be stable. Overall, the average price per square foot in Manhattan was off only 1% from last quarter and the year before, at $1,044.

In the case of condominiums, limited inventory resulted in the highest pricing levels since late 2008. Cooperatives held steady, with mild decreases or unchanged metrics.

Thankfully, as I have been blogging about for years, the Manhattan sales market is stronger than most of the rest of the country with foreign buyers, a diversified employment base and the stabilizing influence of equity-requiring co-op boards.

The high end of the Manhattan Market ($5 million and above) may be stronger than ever. Luxury condos are selling for more than their sales price in ’08 and ’09 (Sandy Weill’s recent sale of his penthouse at 15 CPW for $88 million more than doubled his purchase price paid at the peak of the market in early 2007).

The ultra wealthy around the world continue to prosper and more and more of them want to have a home in Manhattan. The middle of the range condo market ($2mil to $5mil) has enjoyed similar high demand, with prices toping the peaks of ’07 driven predominantly by the foreign condo buyers whose country of origin shifts each year based on local currency strength and wealth creation.

The remainder of the market which includes most smaller co-ops and condos also enjoyed a steady improvement over the past 12 months but in a much more modified manner due to financing and confidence hurdles.

The combination of shrinking inventory and stabile prices are hopeful signs for the value of real property as we enter the New Year. I will be tracking them all closely as 2012 unfolds, and would welcome the opportunity to answer any questions you may have about the report or the market generally.

Download Complete Manhattan Fourth Quarter Market Report

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

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REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN in 2012

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sat, 31 Dec 2011 09:09:42 -0500

The Aldyn

TOP 10 REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN

1 THERE HAS NEVER BEEN A BETTER TIME With fewer developments on the market, interest rates at historic lows, and the last chance to secure 421a tax abatement's.

2 BRAND NEW EVERYTHING Be the very first to live in your home and enjoy brand new infrastructure throughout.

3 COMPETITIVE PRICING Developers have a realistic understanding of the market and prices to match.

4 EASE OF OWNERSHIP Benefit from a hassle-free purchase process with no board packages, and use your residence however you want—live, rent, or pied-à-terre.

5 INTELLIGENTLY DESIGNED Modern room proportions, high quality materials, and windows that maximize light and air add up to a home that complements your lifestyle.

6 IMMEDIATE OCCUPANCY There is often no need to wait to move in—your brand new home can be ready right away.

7 HEALTHY HOME Green features make your life healthier, and energy efficiency benefits you and the environment.

8 STATE OF THE ART LIVING Your home is outfitted with top of the line materials, the most up to the minute technology, and all the little extras that make life easy.

9 CREATE A COMMUNITY Move in together, and build a community with your neighbors.

10 THE FULL PACKAGE Your home is more than just your condominium—it’s the fitness center, outdoor space, and private lounges, not to mention the doorman and concierge, at your service.

It's time to say Good-Bye to 2011 and Hello to 2012. Looking forward to a brand new start. There is nothing better than a brand new home in a brand new year. Wishing you happiness and success in the brand new year!

It is important to have an experienced buyer's broker represent you in New Developments. On-site sales agents represent the seller/sponsor/developer's interests.

Click here to receive new development listings
Call me at 917-312-0924 or email me to schedule showings

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

The Boulevard - 2373 Broadway - Upper West Side Condop

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Fri, 16 Dec 2011 12:13:29 -0500

The Boulevard | 2373 Broadway

The moment you step into the lobby at The Boulevard, my residence, and walk across the floors of Verdi Imperiale and Belgiun marble of green and black offset by Australian lacewood walls, with soaring cathedral ceiling and patterned wall of clear and opaque glass behind the concierge desk marking the rear of the lobby overlooking the pool, you know you're in one of the most meticulously managed residences in Manhattan. While plants and fresh flowers are always visible, this time of year it is especially festive, warm and beautiful.

The Boulevard condop located on Broadway at 86th Street is one of the best buildings on the Upper West Side. It is a full service post-modern grand building with simplex, duplex and penthouse apartments. Many residences have glass-enclosed "greenhouse" rooms, walls of windows, herringbone floors, high ceilings, terraces, balconies and other details not found in most modern buildings. A gracious residence that recaptures pre-war urban traditions with a variety of layouts that combine light and space with modern convenience, comfort and flexibility.

Building amenities include a two level health club with 75' pool, squash and racketball courts, steam room and sauna. Building features include, attended garage, two landscaped sundecks, a roof top solarium, duplex party room, children's playroom, six (6) elevators: (4 passenger, 1 freight and 1 to garage), laundry rooms on every floor, bicycle and storage rooms, a doorman and concierge.

I was one of the original owner/shareholders. I bought my first apartment in the building when it was just a construction site. I was a member of the AD HOC organizing comittee which served the owners/shareholder interests while the sponsor/developer controlled the Board of Directors. I've been active in the building ever since.

I've successfully represented both buyers and sellers and owners at The Boulevard.

Prices Range from $550,000 - $4,000,000 +; Sq Ft Range: 550- 3200; Size Range: Studios - 4 bedrooms; Number of Floors: 23; Number of Apartments: 354.

Currently there are 3 active listings for sale and 3 in contract. The available homes for sale range from an 825 square foot one bedroom, 1.5 bath duplex asking $775,000 to an 800 square foot Junior Four (one bedroom with Dining Area) with 2 full baths asking $865,000 to a 4 bedroom 3 bath home asking $2,475,000.

Currently there are 4 one bedroom homes available for rent ranging from $3300/month to $3800/month. If you would like to live in one of the best full service luxury buildings on the Upper West Side, or if you are one of my neighbors thinking about selling or leasing your apartment please contact me at 917-312-0924.

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Have Yourself a Merry Christmas!

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sat, 24 Dec 2011 15:49:00 -0500

Have Yourself A Merry Christmas and a Happy Holiday Season.

All my best wishes for a happy healthy and prosperous New Year!

Hope to see you in Manhattan in 2012!

Enjoy Some Manhattan Christmas Holiday Pictures Taken Around Town this Holiday Season

iPhone Photos Courtesy of Your NYC Broker Mitchell Hall

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Upper West Side Market Report

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sat, 10 Dec 2011 16:54:58 -0500

UPPER WEST SIDE MARKET REPORT

RESALES

Resale co-op pricing on the West Side decreased from both Second Quarter 2011 and Third Quarter 2010. Median price dipped 4% from last quarter and 9% from a year ago while average price dropped 5% from last quarter and a year ago.

Three-plus bedroom co-ops, however, increased 11% in median price from last quarter. Resale condos, on the other hand, increased 11% in median price and 7% in average price per square foot versus Second Quarter 2011.

Compared to a year ago, condo median price dipped 4% as fewer two- and three-plus bedroom residences traded but average price per square foot was 2% higher.

UPPER WEST SIDE MARKET REPORT

NEW DEVELOPMENTS

West side new development pricing saw big jumps in median price and average price per square foot over both time periods.

Median price rose 43% from last year and 44% from last quarter as a large number of $5 million- plus transactions were recorded.

Average price per square foot increased 15% from last year and 14% from last quarter. These sales were primarily at The Laureate, The Apthorp, The Aldyn and 535 West End Avenue.

As always, I will continue to follow closely sales activity and trends on the Upper West Side of Manhattan, and would welcome the oportunity to answer any questions about this report, the market in general or any questions about buying or selling real estate in Manhattan.

I’m very happy to talk to people at any stage of the Real Estate process and can discuss the opportunities in each neighborhood, price point and room count.

Market Data:

Corcoran Report/Property Shark

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

NYC Urban Umbrella | 21st Century Scaffolding

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Fri, 09 Dec 2011 22:38:19 -0500

(Photo Credit: Edward Reed)

A Welcome Change from Conventional Scaffolding

New York City unveiled the first prototype of the Urban Umbrella, the winning design from the urbanSHED International Design Competition.

The competition was held to create a new design for sidewalk sheds – temporary structures built to protect pedestrians during construction – which had not been updated in more than 60 years in New York City.

The prototype of the new state-of-the-art sidewalk shed was unveiled at 100 Broadway, a 24-story building in Lower Manhattan.

(images from the Mayor's Office)

The Urban Umbrella features several new elements that are expected to transform the look of the City’s streetscapes and significantly improve upon the current model.

The new structure, which is primarily comprised of recycled steel, translucent plastic panels and LED lighting, brings more air and natural light to the sidewalk and increases building visibility to help businesses attract customers during construction operations.

The sleek design also limits obstructions to allow for more pedestrian traffic and increases visibility at night because of its strategic lighting. The design is safer than the current model because it is more resistant to the forces associated with falling debris, vehicle accidents and strong winds.

(images from the Mayor's Office)

Supported by the Alliance for Downtown New York and the Mayor’s Fund to Advance New York City through a grant from REBNY (Real Estate Board of New York), the Urban Umbrella was constructed to incorporate new safety and aesthetic features that vastly improve the pedestrian experience.

Sidewalk sheds are required during construction of new buildings 40 feet or higher and the demolition of buildings 25 feet or higher.

There are approximately 6,000 sheds installed in New York City.

Significant features of the Urban Umbrella include:

(images from the Mayor's Office)

Sustainable LED lighting with an 11-year lifespan
Graceful lighting strategy that enhances storefronts
Translucent overhead panels that transmits natural ambient light to the sidewalk
Horizontal load equal to 2% of its vertical load
Elimination of cross-bracing that visually obstructs storefronts and building entrances
300 pounds per square foot load capacity to protect the public from falling debris and allow for safe construction above
Adjustable feet that pivot and extend to accommodate changes in sidewalk pitch, eliminating the need for wood shims

To order the Urban Umbrella, contact the Agencie Group at urbanumbrella@agenciegroup.com.

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Tips for Tipping in Manhattan Apartment Buildings

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Thu, 08 Dec 2011 07:09:43 -0500

Every year around this time, I am asked about New York City holiday tipping etiquette, especially for Manhattan apartment building staff.

Here is my take on the situation:

So many ask, “why tip at all for someone who is merely doing his job?” An additional reward for work well done is a welcome gift. It is good manners, and customary to show one’s appreciation by giving a little something extra during the holiday as a way to say “thank you”.

Keep in mind the following factors in determining what to give:

how pleased are you with the service
the frequency of the service
how long you’ve known the person
your budget
the local custom
how large a staff in your building
the type of establishment (deluxe vs. moderate building)The following are ranges of suggested gratuities:

Apartment Building Superintendents: $25 - $250. There is a wide range here depending on the services offered by your building and how much the staff are at your beck-and-call during the year.

Doormen: $25 and up. Take into consideration how nice they are to you, if you get lots of visitors and deliveries, and if they actually open the door for you. To maintain a level of quality service, you need to pay for it.

Porters: $15- $30 These people have a difficult and sometimes unpleasant job. If you’ve spilled Styrofoam packaging stuffers in your hallway or incinerator room, you owe it to your custodian to remember.

Handyman: $15 - $30 This is an instance where your tip can be proportionate to the amount of the work you’ve requested during the year. If you merely greet the handyman in the hall, the lower end of the range should suffice. If you’ve gotten him out of bed in the middle of the night to repair a gushing water leak, ask yourself how much such a task is worth to you and show your appreciation accordingly.

There is a long list of other people to remember during the holidays-garage attendants, personal trainers, housekeepers, babysitters, stylists, etc., and the range of what is considered appropriate is wide and left mostly to personal judgement.

Regardless of the cash value of any gift, however, it is important that a gratuity be given as a present. Include a nice card with a hand written note and deliver it personally. Cash is appreciated, rather than checks. In what can seem like an uncivilized city, it is important to remember to make a gesture of appreciation to those who make your life easier. The holiday season is the perfect time to do so.

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Manhattan Luxury Real Estate Market Report

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Wed, 07 Dec 2011 20:00:42 -0500

Manhattan Luxury Real Estate Market Report

Manhattan’s luxury market is defined as the highest priced 10% of all co-op and condo sales. Pricing in the luxury market increased over both Second Quarter 2011 and Third Quarter 2010.

At $4.25 million, luxury median price increased 9% from last quarter and 4% from a year ago. At $1,947, average price per square foot increased 6% from last quarter and 8% from a year ago.

This positive growth was bolstered most notably by a pair of sales at or just over $30 million on Columbus Circle and Central Park South

Market-share by price category has remained relatively unchanged over the past year. Sales under $1 million accounted for 59% market-share in Third Quarter 2011. Sales in the $1 million to $2 million range saw a slight contraction and there was a slight expansion of sales over $5 million compared to a year ago.

Data from Corcoran Report Third Quarter 2011

As always, I will continue to follow closely sales activity and trends in Manhattan Luxury real estate, and would welcome the oportunity to answer any questions about this report, the market in general or any questions about buying or selling real estate in Manhattan.

I’m very happy to talk to people at any stage of the Real Estate process and can discuss the opportunities in each neighborhood, price point and room count.

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Speechless Sunday: Pet Friendly Manhattan

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sun, 04 Dec 2011 09:46:24 -0500

A few of my 4 legged neighbors (photo shot Friday in front of my Upper West Side home)

Photo shot a couple of years ago on West 72nd St. I've never seen that dog-walker again.

New York City is a vibrant destination for visitors and residents year-round - whether they're four-legged or two-legged. Not only are most condos and many co-ops dog friendly in Manhattan but there are dog friendly hotels, restaurants and department stores.

To receive listings of pet and dog friendly Manhattan apartments click here and check pets allowed under pet policy.

iPhone photos Courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

Guarantors and Parents buying homes for Children

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Mon, 28 Nov 2011 09:41:38 -0500

Over the years I have sold and rented many apartments where a guarantor was needed. I have also sold apartments where parents and/or trust funds bought the apartment outright for an adult child or beneficiary.

In a condo it is very simple. A parent can buy for an adult child. A corporation and or a trust can buy a condo. Some condos have applications but many don't or have very simple applications. I recently had a condo transaction where the couple obtained a mortgage from their parents. As far as the seller, listing agent and the condo were concerned it was a Cash Sale. I presented proof of funds with the offer. A condo may require documentation but they can't reject a buyer. They can only exercise their "right of first refusal" and purchase the apartment for the same price and terms of offer.

It becomes more difficult purchasing a coop and even renting in certain Manhattan buildings. Most coops will not allow a parent buying for their adult child. Many coops will allow co-purchasing or a guarantor for working adult children. Even if the parents pay for the apartment, the coop will want the adult to be working with their own income and be responsible to pay the monthly maintenance and/or mortgage payments. The monthly housing costs can not exceed 25-30% of the adult child's monthly income.

Some rental buildings may require the parent to be on the lease. Some may not accept out of town guarantors and/or may require a few months of rent up front and additional security deposit. 40x rent in annual income is required by applicant and 80x rent is required to be a guarantor.

The coop will want full financial disclosure from both the guarantor and the applicant and from both applicants if a co-purchase. A guarantor letter and a gift affidavit is usually required as well.

The only alternative other than a condo purchase is purchasing a sponsor coop apartment. The sponsor is usually the developer or owner of building that has "un-sold shares" in the cooperative corporation. I recently sold a coop sponsor apartment to parents in Ohio for their son that recently graduated college here. Purchasing a sponsor apartment in a coop is buying "un-sold shares" there is no board approval process. However once purchased the shareholder has to adhere to the coop rules, enjoys the same "quality of life" as other shareholders but when unit is re-sold there is board approval and a board package is required.

Recently I have been working with a corporation looking for a duplex penthouse rental for corporate use. While the corporation has excellent financials, documented assets and cash flow, landlords asked for a guarantor. At first I was surprised because of the financial documentation I was able to provide.

While the Supreme Court of the United States ruled that a corporation is a person, New York landlords think otherwise. They want a personal guarantee from a person.

Lease "Good Guy" Guarantees

A good guy guarantee is a limited personal guarantee often written into a lease when a tenant is a business entity such as a corporation, partnership or limited liability company. The guarantee, generally signed by a principal of the business entity, enables a landlord to bring an action against the guarantor in the event the tenant stops paying rent and continues to occupy the space. A good guy guarantee is not necessarily onerous to a tenant. Although after a default, the landlord is free to pursue the tenant for unpaid rent (if there are any assets left in the business entity) the guarantor is released from its obligation to pay rent once the tenant vacates the space. From a landlord's perspective, a good guy guarantee is an insurance policy against the amount of time it can take to evict a non-paying tenant (something that often takes a year or more).

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

The Aldyn - 60 Riverside Boulevard - Riverside South - Upper West Side

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Fri, 17 Sep 2010 18:56:00 -0400

Last night I attended a gala opening at The Aldyn, a new luxury residential 40 story building at 60 Riverside Boulevard on the Upper West Side of Manhattan.

The building will have rental apartments on the second through tenth floors and condominium apartments from the 11th floor through the 40th floor.

Extell, the developer teamed with eight CFDA members for a designer show house called “American Fashion: Designers at The Aldyn.”

The party took place the last night of NY Fashion Week. Each room in the luxury waterfront apartments were designed and unveiled last night by fashion designers including Diane von Furstenberg, Elie Tahari, Nicole Miller, Jeffrey Banks and Richard Lambertson and John Truex for Tiffany & Co.

The fashion designers collaborated with interior designers to translate their newest collections for the home, often mixing in personal items.

The Aldyn Residences, Athletic Club and Spa includes 40,000 square feet of amenities overlooking the Hudson River. Sports lovers and athletes will love LA PALESTRA Athletic club & Spa designed by Roman and Williams:

Fitness Center with Yoga, Pilates, Personal Training, and Kinesis Rooms
75' Swimming Pool and Hot Tub
Rock Climbing Wall
Basketball Court
Squash Court
Bowling Alley, Game Room, and Club Lounge
Golf Simulator
Private Treatment Rooms
Men & Women's Locker Rooms, Suana and Steam Rooms
Private Landscaped Garden

The Residences include Brazilian Cherry Flooring, 9' ceilings, Bosch Washer and Dryer's. Choice of kitchens in teak or white cabinetry, Decorative Metal Pulls and Dishrack, Custom Lighting, Blizzard Quartz Countertops with Caldia Marble Chef Block, Blizzard Quartz backsplash with Integrated Teak Spice Shelf, Smeg Dual Fuel Range, Smeg Energy Star Rated dishwasher, Miele Refrigerator/Freezer Wine Refrigerator and Microwave Oven.

The bathrooms feature Bianco Dolomite marble lors and Walls, Teak Accent Wall Panels, teak vanity and Mirrored Cabinetry, Marble Countertop and Backsplash, Zuma Tub, Waterworks Brushed Nickel Fixures and Toto Toilet.

Starting Price Range as of September 16, 2010:

One Bedrooms: 739 - 839 square feet starting at $775,000 - $1,195,000

Two Bedrooms: 1,071 - 1455 square feet starting at $1,425,000 -2,195,000

Three Bedrooms: 1,618 -2075 square feet starting at $2,600,000 - $3,350,000

Four bedroom: 2,505 - 2,755 square feet starting at $4,000,000- $4,950,000

Six Bedroom Duplexes and Penthouse Residences with terraces and pool 2,930 -5960 square feet range from $6,300,000 to $17,500,000.

Contact me for more information

Courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

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©Mitchell Hall 2006-2011

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

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Chelsea: "HOT Real Estate Market" "COOL" Neighborhood

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Thu, 01 Dec 2011 11:21:41 -0500

Chelsea: Manhattan Neighborhood Market Report

Chelsea is located between 28th Street and Greenwich Village on the West Side.

Chelsea is largely a residential area with a varied mix of high-and mid-rise buildings, brownstones and industrial lofts. The architecture in this area is unique. East of Ninth Avenue, the spacious and stylish loft warehouses give way to stunning landmark townhouses, prewar co-ops and new luxury glass high-rise buildings.

For many years Chelsea was the heart of the Garment and Flower districts until recently. Chelsea today is one of the city's hottest zip codes and coolest neighborhoods. It is now considered a fashionable place to live, it began in the early 1800's as a family farm, it became more commercial later that century with the arrival of an above ground railroad.

Chelsea Landmarks and History: Chelsea's origins date back to 1750 and the neighborhood has seen a lot of change since its days as farmland. Chelsea was the city's first theater district, and was a fashionable shopping district. The famous Barney's specialty store was located at 17th and Seventh Avenue for many years before moving uptown to Madison Avenue. Barney's annual warehouse sale still takes place every winter in Chelsea. "The Ladies Mile" along Sixth Avenue is a historic district. Between the Civil War and World War I, the district was the location of some of New York's most famous department stores. It is now once again a hot shopping area.

One of the most architecturally distinct pre-war buildings is London Terrace, a 1929 complex that runs the entire block from 23rd to 24th Streets between Ninth Avenue and Tenth Avenue. London Terrace includes a common garden, a pool, and 1,700 units in co-ops (known as the Towers) and rentals (known as the Gardens.) In 1930 London Terrace was the largest apartment complex in NYC and in the world located across the street from the fashionable townhouses and brownstones on "Millionaire's Row"

1938 NY Times AD for London Terrace

------>

Chelsea today is a vibrant neighborhood with off Broadway theaters, new cutting edge art galleries, restaurants, bars and pulsating night clubs and designer shops. The famous landmark Hotel Chelsea is where many famous artists, writers and musicians have stayed. Currently it is closed undergoing renovations converting to condos.

Legendary Hotel Chelsea (being converted to condos)

There are many new luxury rental buildings along Sixth Avenue and many new condo developments have been built and are being developed on the far west portion of Chelsea between 10th and 11th Avenues.

Chelsea has also become a hub for media and creative people and high energy businesses. Google recently purchased 111 Eighth Avenue, one of Manhattan's largest buildings and a key hub for Internet traffic for $1.9 billion for their New York Headquarters. Numerous ad agencies and media companies including Interactive Corp.'s Frank Gehry designed glass building on the West Side Highway opposite the Chelsea Piers are making Chelsea their corporate homes.

The development of Chelsea Piers and the water park has also provided a huge economic boom to the district. Chelsea Piers offers: ice-skating; rock climbing; gymnastics, golf, two restaurants, a marine center, health club, bowling facilities, biking, roller blading and television studios.

The High Line Apartments - West Chelsea - Far West Chelsea

West Chelsea from 10th Avenue to 11th Avenue, from 16th Street north to 30th Street, is booming with new condo developments that have transformed the once gritty Manhattan neighborhood into a fashionable destination. Most of the new developments are around the High Line. New condos with park views.

The Caledonia, a 26-story building, at 450 West 17th Street, at 10th Avenue, was the first development with its own entrance to the High Line park from the second floor. It sold out quickly. Prices for the 190 apartments range from $700,000 to more than $4million.

2006 AD for

The Caledonia---->

The High Line runs through three of Manhattans most dynamic neighborhoods, Hells Kitchen, West Chelsea and the Meat Packing District. The High Line Park is a 6.7 acre span of former elevated train track running 22 blocks into an open park.

High Line 23, a futuristic "green LEED" certified condo right on the High Line has a private garden at the building’s base and 11 condo homes — nine full floor residences and a duplex penthouse on the top floor. Residences range in size from 1,850 – 3,600 sf and price from $3 – $10 million plus.

The Chelsea Enclave is a 53-unit condop that was built on the grounds belonging to the historic General Theological Seminary, the oldest continuously operating seminary in the United States, Chelsea Enclave blends with the Seminary's Gothic Revival buildings Prices ranged between $1million to $10 million.

200 Eleventh Avenue the ultra -exclusive stainless steel and terracotta clad landmark designed by Annabele Selldorf, featuring the unique En Suite Garage. The 19-story tower has 16 apartments, 14 of them have sky garages. A private elevator takes your car up to your private En Suite garage in your apartment. Prices range from $6.7 million to $16,500 for a penthouse.

<-- 200 Eleventh Avenue

(En Suite Sky Garage)

The Chelsea Modern

----->

is a 12 story, 47 residence boutique development in the heart of Manhattan's West Chelsea neighborhood. Chelsea Modern is located on West 18th Street just east of Tenth Avenue and the Highline Park. Prices range from $2, 350,000 for a one bedroom (2277 square foot) garden apartment asking $2,350,000 to a four bedroom 4.5 bath (3866 square feet) asking $7.965 million.

Chelsea by the Numbers:

Active Listings:

Currently there are approximately 428 active listings in Chelsea. Available Chelsea properties range from a 500 square foot studio in a walk-up coop for $239,000 to a Eight bedroom, 7 bath (9,493 square foot) Penthouse condo asking $38,900,000.

Recent Closed Sales Data:

250 properties closed in Chelsea in the past 90 days. Sold property prices ranged from $275,000 for a walk-up studio coop to $11,500,000 for a 3164 square foot duplex penthouse with private 2,026 SF bi-level terrace, 3 bedrooms, and 3.5 baths.

Manhattan Neighborhood Market Reports:

To join my Manhattan Buyer Profile System and receive new Chelsea or any Manhattan property listings by email click here.

If you're thinking about selling your Chelsea coop, condo, condop, loft or townhouse call me at 917-312-0924 or click here

courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

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There is No Substitute for Experience!

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The Dillon: Market Update Townhouse Units

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sat, 26 Nov 2011 11:14:01 -0500

The Dillion - Clinton/Hells Kitchen - New Condo Development

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.

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.

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.

recent closed sales data:

unit beds
rooms sq. ft. list sold price PH-10 3BD
6/3/3
1840 $2,250,000 Sold $2,250,000 8/10/2011

401 1BD 3/1/1.5
831 $793,000 $793,000 11/3/2011 310 2 BD 4/2/2 1009 $990,000 sold

The Townhouses at The Dillon are individual triplex homes that have been meticulously planned to allow for easy living.
Each Townhouse has a street level gated court, with a mudroom and foyer opening to the living space where ceiling heights soar up to 14 feet.
Private parking is directly accessible through the lower level media and laundry rooms.
A large private back yard, as well as access to all condominium amenities combine the best of townhome living with the convenience of a boutique full service condominium.
The open kitchen features custom cabinetry with under-cabinet lighting, honed white quartz countertops, Liebherr refrigerator, and Miele appliance package, which includes a gas cooktop, convection oven, combination convection/microwave oven, and dishwasher.
The master bathroom includes Thassos marble flooring with radiant heating, Corian countertops and Hansgrohe rain shower.
Homes at the Dillon offer wide plank hardwood flooring, thermostatically-controlled HVAC system offering year round climate control, and a Bosch washer and dryer.
The Dillon has a 421-A tax abatement, and private storage is available.

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 West 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.

Contact me to schedule showings or click here to receive detailed listings via email at The Dillon or any Manhattan New Development.

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

CHELSEA: Manhatan Neighborhood Real Estate Guide

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Tue, 27 Feb 2007 14:01:18 -0500

Chelsea "HOT" real estate market - "COOL" Neighborhood

Chelsea is located between 34th Street and Greenwich Village on the West Side. Chelsea is largely a residential area with a varied mix of high-and mid-rise buildings, brownstones and industrial lofts. The architecture in this area is unique. East of Ninth Avenue, the spacious and stylish loft warehouses give way to stunning landmark townhouses, prewar co-ops and new luxury high-rise buildings.

West 23rd Street

Chelsea Hotel (may become condos)

1938 NYTimes AD for London Terrace ->

Chelsea today is a vibrant neighborhood with off Broadway theaters, new cutting edge art galleries, restaurants, bars and pulsating night clubs and discos. The famous landmark Hotel Chelsea is where many famous artists, writers and musicians have stayed.

There are many new luxury rental buildings along Sixth Avenue and many new condo developments have been built and are being developed on the far west portion of Chelsea between 10th and 11th Avenues.

Chelsea has also become a hub for media and creative people and high energy businesses. Google recently opened their New York Headquarters in Chelsea, along with numerous ad agencies and media companies and the new Frank Gehry designed glass building on the West Side Highway opposite the Chelsea Piers will be the headquarters for media, e-commerce mogul Barry Diller's Interactive Corp.

The development of Chelsea Piers and the water park has also provided a huge economic boom to the district. Chelsea Piers offers: ice-skating; rock climbing; equestrian endeavors; gymnastics, golf, two restaurants, a marine center, health club, bowling facilities, biking, roller blading and television studios

The High Line Apartments

West Chelsea from 10th Avenue to 11th Avenue, from 16th Street north to 30th Street, is booming with new condo developments that are transforming the once gritty Manhattan neighborhood into a fashionable destination. Most of the new developments will happen around the High Line. New condos with park views.

The Caledonia, a 26-story building, at 450 West 17th Street, at 10th Avenue, will have its own entrance to the planned High Line park from the second floor. Prices for the 190 apartments range from $700,000 to more than $4million. The Caledonia will be the first luxury condo with entrances directly to the High Line park.

2006 AD for

The Caledonia---->

The High Line runs through three of Manhattans most dynamic neighborhoods, Hells Kitchen, West Chelsea and the Meat Packing District. Plans are underway to transform a 6.7acre span of former elevated train track running 22 blocks into an open park.

The High Line at 10th Ave

Chelsea Morning: Joni Mitchell

Manhattan Neighborhood Real Estate Guides:

A blog series courtesy of: Mitchell Hall, The Corcoran Group

To join my VIP Manhattan BuyerProfile System and receive new property listings by email click here.

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924

'Tis The Season! Awesome Apthorp

Mitchell Hall NYC Real Estate Broker (The Corcoran Group) — Sun, 27 Nov 2011 06:00:16 -0500

The Apthorp

390 West End Avenue - West 78th -West 79th at Broadway

The elegant full-block apartment complex built by the Astor family for the New York elite.

The History

• Built in 1908
• The vision of William Waldorf Astor, executed by architects Clinton and Russell
• Listed on the National Register of Historic Places
• Italian Renaissance Revival architecture
• Richly ornamented limestone façade
• Iconic iron entry gates
• One of four private courtyard drive pre-war buildings
• 163 condominium residences

Active Today

Current available condo apartments: One, two, three, four and five bedroom apartments range from a 1031 square foot one bedroom one bath asking $2,100,000 to a 5 bedroom 5.5 bath 6,128 square foot residence asking $14,950,000

Contact me @ 917-312-0924 to schedule showings or click here to receive listings via email at Apthorp or any other Manhattan New Development or conversion.

Mitchell Hall, Associate Broker, The Corcoran Group

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission.

Blogging about Manhattan Real Estate since 2006.

Mitchell Hall, Associate Broker
P (212) 877-6268 | M (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhood Reports

Search Manhattan Homes

There is No Substitute for Experience!

Call Mitchell Hall @ 917-312-0924