NYC Market Realities


1123423-2_lWith regards to the New York City Real Estate market, this is a very busy time of year.
Rentals in prime locations are going within hours and sales are going in weeks.

There is very little inventory across the board, no matter the budget.
From the entry level starter studio on the rental side, up to the uber-luxury penthouse on the sale side.

Vacancies are slim and many are staying put for another year.

Come prepared and have your game face on!

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Sex in the City? Outdoor Space? Find the Hat Man!


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Not a fire escape

Even without trying, I ALWAYS end up finding great outdoor spaces for my people. I love grilling and chilling and usually, people who do gravitate to me as well. Out of 100 apartments available in any budget, I have a knack for showing the best four or five right away. What the heck are you paying me for anyway?!!!

This is a super value. At $2100, the rent is actually quite low for the area and outdoor space. This amount of outdoor space is actually quite hard to find, but here it is. The location is what everyone looks for. Details are below on the listing.

This is located on one of the Villages most desirable and beautiful blocks, just steps to Union Square, restaurants, NYU, shopping, Washington Square Park, & all subway lines. This Charming loft studio is peaceful and quiet with an amazing large private outdoor space that is as big as the apartment itself. Other features include high ceilings, an open kitchen with breakfast bar, new stove and refrigerator, A/C, wall of closets and bike storage. The elevator building is perfectly maintained, has a live-in super as well as a central laundry room making this unique apartment the perfect place to call home. JULY 1ST OCCUPANCY.

If you want Sex in the City, then look no further. The Hat Man CAN Do!

Starter Studio with Patio

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$1M NYC Tour Part 2- “No Sleep til Brooklyn”


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I believe the most fitting way to sum this up is “if you don’t know, now you know!” This is by far a better value than Manhattan. There are almost too many places to choose from. It actually warrants a separate set of posts for a Brooklyn tour. Trying to narrow the best options down was a lot tougher here even when focusing on the “prime” areas as opposed to Manhattan. Whereas rentals are comparably priced in those areas these days, the sales market is still a much better bargain.

In the end, I will present one co-op vs one condo in this post, but out of a possible 186 options, I still was left with 5 co-ops and 13 condominiums which far surpassed anything else on the entire Brooklyn Market. As with Manhattan, I focused on location, space, quality and the monthly cost when making my selections.

Co-Op

$925,000 1500sf Park Slope This is a sprawling 1,500 SF Pre-War co-op in one of the most desirable locations in all of Brooklyn… Literally steps to the 2,3,Q,B trains as well as Prospect Park. This beautiful apartment boasts a wonderfully renovated app. 300 SF chefs kitchen with vented Viking stove, marble & granite counter tops/island, breakfast bar, banquette, recessed lighting and loads of high end cabinetry. Currently configured as a 2 bedroom/2 bath apartment, there is an additional room with French doors that can be used as a 3rd bedroom, formal dining room, media room or large office. Enter into the huge gallery/foyer to find 9.5 foot beamed ceilings, recessed lighting throughout, 12 windows, lustrous mahogany stained herringbone floors, built-ins, crown molding and original subway tiled bathrooms. Apartment also comes with private basement storage and though there is a modern laundry room in the building, the co-op also permits a W/D unit inside the apartment. This is a handsome, well maintained pre-war co-op, pet friendly with a live in super and P/T doorman. Apart from Prospect Park and express trains, location is also a few minutes walk to the Brooklyn Museum of Art, Botanic Gardens, Mount Prospect, Brooklyn Library, the Farmers Market and plenty of hip shops and restaurants in both Prospect Heights and Park Slope. FIRST SHOWINGS at the open house scheduled for Sunday April 3rd. For Pictures and floor plan via slide show click me!

Condo

$895,000 1425sf DUPLEX Seller pays transfer taxes! 1 Bedroom + Home Office + Mezzanine Space and style converge with stunning results in a spacious 1425-square foot loft duplex located in the heart of Williamsburg. Currently used as a two bedroom, the loft’s open plan makes it easily convertible and completely flexible.Breathtaking is the only word to describe stepping into this home with soaring 15′ ceilings and gigantic arched windows. Gorgeous hardwood flooring runs throughout the home and is complemented by the exposed beams in the ceiling. The open-plan kitchen is designed for easy cooking and entertaining with a translucent and white central island for prepping and casual dining. Miele stainless steel appliances and custom cabinetry complete the tasteful look. The main bathroom is a modern sanctuary that provides the perfect spot for unwinding with its cool tile surfaces and over-sized soaking tub. Five closets in the bedrooms and halls offer endless storage options.Out the windows and from the building’s roof deck, you’ll see this is the location to be in Williamsburg. Nestled between two of its trend-setting avenues and yet just removed enough to enjoy a quiet setting, you’re never more than steps from fine dining and boutique shopping and you’re just one stop from Manhattan on the L train at Bedford Avenue. For slideshow with pictures and the floor plan just click me

These are just the two places which I have selected based purely off of being in solid locations for either sublease and/or resale potential investment situations. There is a wealth of great value in Brooklyn right now and much can be had for less. I wanted to give you a good example of what the same amount gets you in each borough. Do feel free to contact us if you have any questions, thoughts or feedback.

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Priced out of Manhattan? Here are the best options elsewhere


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I know that everyone comes here to live in Manhattan. But what do people who live here do when the landlord raises the rent to an amount that you just can’t afford anymore? Or what about the transplant who is new here, but really isn’t making that $3500 luxury hi-rise money yet? Or maybe the hipster who wants to be adventurous and go against the grain of living in the East Village? For those that are new to the city and the market reality of the prices and space here has just smacked you in the face, I have some areas that you will want to consider.

Williamsburg
This is the first place people mention when considering going away from the traditional areas on Manhattan to live. It’s hipster vibe, trendy shops and cafes make people gush for days. I lived here for a year and it was decent. There is almost too much to do along Bedford Ave. Cool bars, great restaurants and McCarren park are the pluses of the neighborhood. The subway access if you are close to the L train and no further than Lorimer is actually superb and in some ways, better than being in Manhattan. Well, at least if you are way east or west and far from a subway line. The problem is that rents here are starting to mirror Manhattan places, now that it is a well-known hot spot.
WillieB

Harlem
This was once an area that people feared. With a huge expanse by Columbia, Bill Clinton coming to town and the lack of acreage on Manhattan Island as a whole, this area is enjoying a new Harlem Renaissance. The rents here are lower than areas below 96th street (but hurry, because they are rising), the commute downtown is not that bad (try to get a spot near an express train) and the food and shopping options are plenty. Your getting the Manhattan zip code, but if you are smart, can pay borough prices. The trade-off is less drunk frat kids stumbling around the streets for EVERYBODY hanging out on the streets. From Grandma’s and Grandpa’s to young children staying out way past their bedtime, this area of NYC is super diverse, a last remaining slice of what New York USED to be and becoming more and more gentrified by the week. You would really be surprised to see the eclectic mix of faces that stay on past the old “Mason Dixon” line of 96th Street these days!
Harlem World

Astoria
I have stayed here off and on at times. My father lived here when I was young. This is a great area that looks close on the map to Manhattan, but if you are not right by the subway, it can be a bit of a trek on the late night. The area is becoming trendy and so the prices are nearing Manhattan prices, though you MAY have more flexibility in terms of requirements and negotiating a deal. MAY is the operative word. Dining options are mostly Latin mom and pop restaurants and Greek as there is a heavy Greek population in the area. This is the first destination for most when considering the outer boroughs aside from Willie B.
Astoria

Jackson Heights
This area is a hidden jewel of the boroughs. If you don’t know, now you know. This is a great area for keeping the costs down. This is a diverse area in Queens with great subway access if you can get a place in the 70’s to 80’s and not too many avenues away from Roosevelt Ave. In some ways, it can actually be a shorter commute than Astoria if you work it out the right way. I lived here for over five years and loved it. Great food from many different cultures, cheaper prices than Manhattan, Willie B, or Astoria and only a 30 minute commute to Manhattan max.
Jackson Heights

Park Slope
After Williamsburg, this is usually the next place on the map when considering BK. The Brooklyn Heights area is always first on the list, but with its superior subway access and closer to Manhattan than parts of Manhattan location, it is the one area of the city that is truly across the river with city prices. So heads turn to Park Slop as the next viable choice. There is a great neighborhood feel, great school systems for those families with or having children. Good dining options and a short trip to the city make this a solid value.
Park Slope

That’s the five top areas that people consider when leaving the traditional areas of the Upper West or East sides, midtown to downtown. I have one more bonus area that is perhaps the best jewel in all of the boroughs. The mainstream writers haven’t caught up to this old school native yet though. To find out about that one, you will have to go with me.

Happy home hunting!  😉

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Harlem World


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New York City is a tight real estate market. Finding the right place will run you $700,000 to even look at larger studios downtown in a newer full service building. In the interest of getting more apartment for the dollar and staying on the island of Manhattan, many go north to Harlem rather than over to Long Island City or Brooklyn.

With that in mind, I have selected the best buys in Harlem BELOW $700,000. This is a sample of the best in terms of space, quality, location and price. There are many people who can run you all over the city in search of deals. We here know the deals and will take you straight to them.

$399K 1BR Condo 700sf in FT DM building Enjoy a great change of pace in this luxurious 1 bedroom located in STRIVERS GARDENS the Full-service Luxury Condominium building also referred to as Harlem’s Crown Jewel. The apartment features a gourmet kitchen with granite countertops, breakfast bar, stone tile flooring and stainless steel appliances including microwave, dishwasher, garbage disposal luxurious bathroom suite. Each unit is equipped with individually controlled air/heat and interactive video conference security system to announce guest. Located half a block from the newly renovated St. Nicholas Park and the 135th St. subway station. Full-service building with a 24-hour concierge/doorman, attended underground parking, State of the art Fitness Center, laundry facilities and resident lounge. Pictures and floor plans are right here!

$499K 1BR Condo 679sf in FTDM building with amenities. Welcome Harlem! Just steps from 125th Street, FDB has raised the standard for quality of construction, materials, appliances and finishes to a new, higher level, not only in Harlem, but for any of the new buildings in its category. The kitchens include Aster Cucine custom cabinetry, seamless CesarStone countertops, framed glass upper cabinets, Blanco sinks and Dornbracht fixtures, Miele dishwashers, Sub Zero refrigerator-freezer and Wolf range, or the Electrolux Icon Series. The baths incorporate such stand out features as Grigio Luna stone tile imported from Italy paired with a glass mosaic accent tile. Custom wood vanities from Lacava and generous tubs and showers. From the 12th floor communal roof terrace with an outdoor fireplace and an additional terrace garden off the main floor, to its on-site parking, FDB has the amenities that matter. Low asking price, even lower monthly of $442 Common Charge and $6 RE Tax! Pictures and floor plan are right here!

$599K 1BR Condo 993sf in FT DM building This is a unique opportunity to live in a penthouse duplex that was once a school! The apartment has tons of space and natural light. The best part is the private terrace overlooking the Manhattan skyline. An amazing value in a unique property that is ANYTHING but cookie cutter! Pictures and floor plan are right here if you click this!

$695K 3BR Condo 1425sf in FT DM building This is a MASSIVE amount of space for your dollar. YOUR ROOFTOP AWAITS!!This spectacular top floor unit comes with very high ceilings throughout, a private roof top terrace that enters directly into the apartment, a gorgeous white marble kitchen and under cabinet lighting. The kitchen contains all GE Profile Appliances. Mahogany Stained Oak Floors, crown mouldings, and floor to ceiling Ivory D’Oriente Tiled Bathrooms with Kohler deep soaking tubs. Other features include, great closet space, large living room, with 3 baths. FHA Approved for up to 96.5% financing for Qualified Buyers! This building offers wonderful amenities including; 24 hour attended lobby, rooftop terrace, a resident media room, an equipped fitness center, private storage unit for each apartment, bicycle room, and a J-51 tax abatement and exemption. For pictures and a floor plan simply click on this link!

As you can see, the best values in Manhattan are in Harlem right now. The area has changed DRASTICALLY from the horror stories of old. The amount of new construction due to Tax abatements makes for a whole new market within this market. Feel free to write or call me with any questions on the area as I am here to guide you home!

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