Manhattan, NY Real Estate News

By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
 While most of the US is in a seller’s market, certain neighborhoods in Manhattan and Miami are currently considered to be buyer’s markets. This is a supply issue, with too many units coming on at once, versus a demand issue (as there is plenty of demand in our booming economy). How long will it be a buyers market for these two locations? Not long, for sure. But, buyers have become bolder and bolder when making initial offers - often at the point of offending sellers.   With that in mind, we decided to reach out the agent community across the country to find out what their best answers were to the question of: How to make a successful (and reaonable) lowball offer? Here is what agents and brokers had to say: Give the best terms All cash No Mortgage Contingency Waive inspections Fast Clo...
Comments 13
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
A weekly feature bringing you the industry's latest intel    According to this week’s market reports, Midtown ranked as the sixth most expensive office market in the world and the late photographer Virginia Thoren’s home was the priciest residential deal in contract.   Residential Sales | Leslie J. Garfield   There were two closed sales and 14 signed contracts for Manhattan townhouses between June 9 and 22. The most expensive sale for the period was 37-39 Perry Street. The four-story property, which was the home of famous fashion photographer Virginia Thoren, was sold for $17.5 million. The most expensive contract, meanwhile, was for 110 East 76th Street, which is being sold by developer Joseph Chetrit with a last asking price of $51 million.    Sales | Olshan   There were 33 contracts ...
Comments 0
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The neighborhood has a staggering pipeline of 1,928 new condo units — not including those currently under contract  1 Beekman Street, 25 Park Row, and 45 Broad Street    The Financial District has undoubtedly come a long way since the turn of the millennium, when its streets went dark at the end of the workday. But while it’s had plenty of cheerleaders pushing to make it a more 24/7 neighborhood with a better residential-commercial split, the question now might be: Does it have too many condos?   There are more new condos set to come online over the next few years in the Financial District and Seaport area than in any other part of Manhattan, according to an analysis by The Real Deal, which looked at the new condo pipeline — including both unsold units (minus in-contract properties) as ...
Comments 0
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The neighborhood has become an outlier among Manhattan’s shopping districts, but whether that’s sustainable or replicable remains to be seen  West 14th Street between Ninth and 10th Avenues   On a recent spring day in the Meatpacking District, a group of tourists argued over dinner plans as they stepped off the High Line onto 14th Street, two girls walked into stalled traffic to Instagram the streetscape behind them and three neon-vested construction workers stood at the curb discussing the many visible changes in the neighborhood.   This all took place in front of Jeffrey New York, the pioneering luxury clothing store that Jeffrey Kalinsky opened in 1999.   “I didn’t have any money [at the time],” Kalinsky told The Real Deal,explaining why he chose this corner of Manhattan. It was also...
Comments 0
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Second hospital to open facility at Related project  35 Hudson Yards   Another hospital is joining Hudson Yards in hopes of tapping into the expected wave of new residents and workers at the megadevelopment.   Hospital for Special Surgery is leasing 15,000 square feet at the Related Companies’ 35 Hudson Yards, Crain’s reported. The facility joins the 72-story tower’s anchor tenant, Equinox, which is opening its first hotel as well as a fitness center.   In September, the New York Post reported that Mount Sinai inked a lease at 55 Hudson Yards. The hospital announced in March that it will open an 18,000-square-foot concierge clinic that will only be available to employees of the building’s commercial tenants.   The special surgery outpatient facility will provide imaging and physical the...
Comments 0
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Resi firm ceased operations April 19  Andrew Heiberger and 110 Fifth Avenue     UPDATED, June 20, 10:00 a.m.: Two months after Town Residential abruptly shut its resale and leasing business, its former landlord at 110 Fifth Avenue slapped the firm and its founder Andrew Heiberger with a lawsuit to recoup unpaid rent. According to the suit, filed Tuesday in New York State Supreme Court, Town surrendered possession of the 16,600-square-foot office on May 10, weeks after effectively ceasing brokerage operations. But court documents allege that Town and Heiberger, who guaranteed the lease renewal in 2013, defaulted on $438,299 in rent, taxes and other fees. The Flatiron office was Town’s first location when it launched in 2010. “It’s unfortunate that after paying over $7.7 million in rent t...
Comments 0
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Which neighborhoods have the most new condos to burn through — and who is going to be stuck holding the bag? The Manhattan condo market is starting to feel like the beauty counter in a fancy department store — with everyone from perfume spritzers to makeup artists vying for buyers’ attention. “It almost feels like you’re taking a client to the Bloomingdale’s cosmetic counter,” said Douglas Elliman broker Carol Staab, who works in the luxury space, referring to the hard sell that developers are putting on buyers. Manhattan inventory has been piling up for three years now. And there’s an avalanche of more product about to hit. In 2019, the inventory of new condos alone is expected to hit a massive 7,900 units —well above the average for the past few years, which has hovered between 3,000 ...
Comments 1
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Zoning rules will change on side streets  The Department of City Planning on Monday kicked off the months-long process to change zoning rules in the Garment District. The agency certified a text amendment that will lift a 1987 zoning restriction in certain parts of the neighborhood. This marks the first step in the Uniform Land Use Review Procedure (ULURP), which will take several months and culminate in a vote by the City Council.Earlier this month, the city revealed revised plans to rezone the district after temporarily tabling a previous proposal. The latest plan allows owners of buildings on certain side streets in the district to convert their spaces to office use without having to preserve manufacturing space, as was required under the 1987 zoning rule. Under current zoning, owner...
Comments 0
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Before leaving for California in May, I had one last Feng Shui Consultation in New York City. My client lived near Chelsea Market so rather then hopping on the subway, I decided to stroll along the High Line and walk over to her location. And it was well worth it. Not only was it an opportunity to get away from the bustling streets of Manhattan, it was also an opportunity for reflection. The high line holds a special place within my heart as it provided the first roots to a blossoming relationship with my now, fiance.  After exiting the high line and walking over to my clients home, I came across another beautiful sight. Sometimes just walking the streets of NYC is all you need for an enjoyable day. By doing that you allow yourself to be present with the time spent there vs running all ...
Comments 7
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Today is a day of honor, memory and thanks to those who have and are currently serving. Many of you know from my mothers' past post that her Father, Peter F. Provenzale served as a Navigator on the B-17 Bomber during WW2. Below is a brief snipped of his story. Peter F. Provenzale with the Argonaut II during World War Two. He is on the top row standing 2nd from the leftThis crew baled out of this airplane on their 24th mission. It landed in the English Channel.Damage to left wing on Peter F. Provenzales' fist missionDuring his first mission, B-17 Navigator Peter F. Provenzale was struck by bullets but, continued to defend his crew.  The airplane was damaged beyond repair. Nose damage, controls were to ruined, inboard engine shot out and radios were inoperative.Ken, Gable and Phil during ...
Comments 7
By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
What's the latest real estate news in Manhattan and Miami   Below is a compilation of these past weeks top real estate news articles for the Miami and Manhattan Real Estate Markets. It has a bit of everything that I’ve been reading and it covers subjects like Manhattan Real Estate and the Miami Luxury Market (including luxury homes for sale), Parks and Recreations in South Florida and NYC, furniture and home decor tips, and others.  I hope you enjoy! Ricardo Mello Manhattan and Miami Real Estate Broker New Yorkers Who Love Where They Live When Should You List Your Home? The Bronx sheds image of urban blight, becomes latest target of New York City’s relentless gentrification The hidden cost of our obsession with luxury living Sought after cities for luxury real estate Luxury condo breaks...
Comments 9
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Wishing you all an enjoyable day with whom ever you spend time with in honor of Mother's Day.Carole Provenzale with Adam and Laura  A Mother’s Prayer For You "I said a Mother’s Day prayer for you to thank the Lord above for blessing me with a lifetime of your tenderhearted love. I thanked God for the caring you’ve shown me through the years, for the closeness we’ve enjoyed in time of laughter and of tears. And so, I thank you from the heart for all you’ve done for me and I bless the Lord for giving me the best mother there could be!" ~ Anon
Comments 4
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Times Square Condo High Floor Unit Doorman Elevator W/D Fully Furnished 880 SQFT Home Office 1 Bedroom   Full time doorman elevator building, fully furnished high floor unit, separate kitchen including appliances, modern bathroom, large living room featuring floor to ceiling windows, bedroom can easily fit a queen size bed, access to a private balcony, washer/dryer in the apartment, home office area, two storage closets, new hardwood floors, move in ready, live in super, health club, entertainment lounge with billiards, golf simulator, roof deck, and private storage!  Move in ready, fully furnished, 1 year lease.
Comments 3
By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
 The new US tax law implemented on January 1, 2018 has created significant background noise in the media. If you look at the fine print, however, the law will be a boon to many corporations and real estate investors, including foreign buyers. For current homeowners, it's a bit more complicated, as uncertainty around the law has tilted the market toward buyers. We are now in a buyer's market, but for how long, we don't know. If you are looking to purchase a Manhattan luxury condo, now may be time to make the move. We wrote an in-depth review of the tax reform effects on Real Estate investors and home owners that will help clarify the situation. The new tax code definitely created a jittery market and is reflected on the latest NYC condo sales market reports, causing activity in Q1 to be ...
Comments 4
By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
 The literal definition of “luxury real estate” includes any property that sells in the top 10% of themarket. However, that doesn’t always equal highly praised amenities and stunning architecture.A high price in Manhattan is often attributed to things like size, neighborhood, and floor level,but those variables can also inform whether a property is a good long-term investment or just atrend. Careful planning and research goes a long way in the search for a Manhattan residentialproperty of lasting value. To that effort, here is a list of tips to follow when searching for qualityinvestments in Manhattan Real Estate’s best real estate. Know What You’re Looking For Take time to educate yourself and know what you’re interested in. Each Manhattan neighborhoodhas its own benefits and knowing w...
Comments 14
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Midtown West Condo High Floor Unit Brand New Renovations 700 SQFT Western Exposure Views May 15th/June 1s  Full time doorman elevator building, eighteenth floor unit, brand new renovations throughout, tiled entry foyer with a storage closet, separate kitchen including granite counter tops and stainless steel appliances, dishwasher, modern bathroom, large living room featuring a western exposure view, bedroom can fit a queen size bedroom and extra furniture, new hardwood floors, live in super, laundry room in building, gym, concierge services, parking garage, and roof deck. Excellent Midtown West location; near all transportation, restaurants, downtown, the Upper East/West Side, Madison Square Garden, Penn Station, Chelsea, the West Village, and Central Park!
Comments 2
By Eileen Hsu, LICENSED REAL ESTATE SALESPERSON
(Douglas Elliman Real Estate)
West Village New York, one of the most desirable and charming neigborhood in New York. There are so many great local eats and spots that we often visit when we are in West Village with different buyers or showing our listings. We thought it would be fun to create a video to show case some of our favorite spots. Here is three of our go to places in West Village. Faicco's Italian Specialty, Royces Chocolate and Doughnut Project with their unique doughnuts.   Come visit our brand new website to get to know us more!https://www.eileenandmorgan.com/https://www.eileenandmorgan.com/neighborhoods/     
Comments 8
By Jennifer Fivelsdal, Mid Hudson Valley real estate connection
( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571)
125th Street location of the Harlem Train StationThe Harlem train station is usually the last stop just before you get to Grand Central Station if you are coming from Upstate NY.  Whenever I get on the Metro-North train heading to Manhattan on the Hudson line I always have a camera in hand and take scenes of the majestic Hudson River and the train stations. Back in January, I was heading to Manhattan and one of my captures that day was the Harlem Station at 125th Street as the train was pulling away.         
Comments 8
By Eileen Hsu, LICENSED REAL ESTATE SALESPERSON
(Douglas Elliman Real Estate)
 West Village Duplex Condo for Sale - 2 Cornelia Street unit 601/701Rare opportunity to live in a Renovated Duplex Condominium in the classic flat iron style 2 Cornelia CondominiumThis West village condo has a full staircase, it is on the 6th and 7th floorsof the building, overlooking the neighborhood with open views. Once you enter the apartment you will experience the blend of pre-war loft features with modern renovations: the 11 ft tall beamed ceiling, the oversized turn and tilt windows, the windowed kitchen with modern renovations including stainless steel appliances. The full sized staircase leads up to the master bedroom with en-suite renovated bathroom with washer/dryer. The master bedroom ceiling height is over 11 ft and has amazing views of the West Village with generous propo...
Comments 6
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
To those passing by the Rhino Statue at Astor Place in New York City, they may see it and think, Wow! Look how massive and beautiful the sculpture is! Or maybe, they think nothing at all and just scutter off to work. What if I told you, this statue is paying homage to the last three surviving (now two) Northern White Rhinos on EARTH. Sudan, the last living male white Rhino, passed away on March 19th, 2018. He was 45 years old. The two females, Najin and Fatu are housed in the Ol Pejeta Conservancy in Kenya, where they are under armed guard 24 hours a day. This 17 foot sculpture is not only beautiful, its capturing the story of humans and our constant destructive relationship to mother nature. While also, providing us with another reminder that WE CAN ALL DO BETTER. And we NEED to.Austra...
Comments 5