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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$1M NYC Tour Part 3- “Live Like a King in Queens”


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In the city in 15mins via LIRR

The tour continues, if you missed it try here and here for the first two installments.

Now if you needed to catch up to speed on what this tour is all about, let’s keep it moving. This is something to think about if you like parks. Queens has more total acreage of park space than any part of the region. If you are looking for space, there is nothing in the city that can compare to what I found in Forest Hills for under a million dollars. This is a super safe and beautiful area with old world charm in Forest Hills Gardens where there are tons of Tudor style homes.

For those that don’t know, this is the most scenic and serviceable area in Queens as you have multiple transportation options such as E/F/G/R trains, the Long Island Railroad, taxi services and bus routes a plenty. The trip into Manhattan is easier than some parts of Washington Heights and the area is much nicer overall.  I actually will start a mini tour based off of this area as I found perhaps some of the lowest priced starter apartments in this area of the city that totally trump ANYTHING in North Manhattan.

Co-op

$599,000 1573sf  4BR/3Bath There is actually a place that just hit the market that is going for $849K and sounds like comparable square footage, but why break the bank!With no floor plan or pictures to examine, it may as well be a pipe dream.  Seeing is believing! This extremely rare, four bedroom, three bathroom Forest Hills residence thrills from the floor to the ceiling with its country home feel, windowed dining room alcove, spacious living room, hardwood floors and lots of closet space. The kitchen has granite countertops, brand new stainless steel appliances, designer cabinetry and ceramic tile. The master bedroom features an ensuite windowed bathroom, alcove sitting area and a large walk-in closet with a California closet system. The second bedroom easily transitions into a library or office. One of the three bathrooms includes a bathtub and separate shower stall. The six-story, post-war co-op building has an elevator, laundry room, parking garage and intercom system. Pets are welcome board approval. For the pictures (proof) slide over here.

Condo

$875,000 1788sf Penthouse Designed by famed designer Andres Escobar, this penthouse offers contemporary living in a luxurious environment. The spacious lay out is complemented by floor to ceiling windows, top of the line fixtures and appliances. Take a look at the floor plan and observe the TWO large private terraces! There is healthy mix of local retail along Austin Street to keep you busy and the property footprint is equidistant between both airports for the constant traveler. Enjoy unprecedented amenities including Shuttle transportation, fitness center, cinema, children’s play room, owners lounge, and 24 Hr Doorman to name a few.  Slide right in here!
The World is Yours

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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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