30 September, 2014 posted by: Adie Kriegstein
Image courtesy of Flickr
NoHo, the once gritty area just North of Houston Street, has become home to some of the city’s most sought-after real estate. An established historic district, NoHo offers residents a vibrant lifestyle that is both funky and chic, with a number of restaurants and high-end shops throughout the small neighborhood.
NoHo extends north from Houston Street to East 4th Street, and east from Broadway and Mercer Street to Lafayette Street and the west side of Cooper Square. The historic district includes approximately 125 buildings, representing the history of Manhattan’s early commercial industry from around 1850 to 1910, when the area prospered as one of the nation’s major retail and wholesale dry goods centers. Many of these buildings have been converted for residential use, and block-by-block, more buildings are either being converted or new ones are rising that blend in with the surrounding architecture. Read the rest of this entry »
25 September, 2014 posted by: Michael Rubin
For the past several years, New York City has seen an incredible boom in ultra-luxury properties. Today, however, I would like to focus on another segment of the market that holds a great deal of opportunity for buyers today. Priced between $2.5 and $5 million, these mid-range luxury homes are also in high demand.
Despite this great demand, there are hardly any new mid-range luxury properties on the market. Developers continue to focus on over-the-top residences, but it is within this gap that buyers today can benefit.
Through strategic renovations and repositioning, a home’s value can be increased significantly. When house-hunting though, it is important to consider what small feasible changes can be made to increase the current net-worth. With demand for luxury residences expected to rise, now is the time to be prudent so that when the property is eventually relisted, it yields the highest return.
As an example, architect Frank Bostelmann has provided a range of insights below about how to realistically increase value in real estate through cost-effective measures. An esteemed architect known for a sophisticated approach to residential design, Frank shares some great tips that I know you will like: Read the rest of this entry »
23 September, 2014 posted by: CORE
Photo courtesy of HudsonYardsNewYork.com
Heralded as the largest private real estate development project in U.S. history, Hudson Yards will vastly change the face of New York City’s skyline. Bringing over 17 million square feet of commercial and residential buildings to the West Side, the project most recently made headlines after solidifying retail giant Neiman Marcus as its flagship retail tenant, making the location its first in New York City. The mixed-use development will include over 20,000 residential units – including 5,000 affordable housing units, 12 acres of public space, commercial space and more within 16 new skyscrapers entering the NYC skyline.
From now through December 31st, a public exhibition is on view previewing the pending transformation of Hudson Yards. Visitors will have a chance to learn more about the details of his massive project in an interactive setting, open to all Monday through Saturday from 10:00am to 9:00pm and Sunday from 11:00am to 7:00pm.
16 September, 2014 posted by: CORE
Recognized as one of the largest public infrastructure projects in New York City history, the High Line continues to attract thousands of visitors everyday. Currently running from Gansevoort Street in the Meatpacking District upwards to 30th Street, the High Line is now preparing to open yet another portion of the popular elevated park to the public this Sunday, September 21st. With this newest section, the park is growing by 50%. According to an announcement on Friends of the High Line’s High Line Blog, the added Rail Yards section will extend the High Line to 34th Street, between 10th and 11th Avenues. “There’s so much to experience in the Rail Yards section,” says Friends of the High Line Co-Founder Joshua David. “It’s truly spectacular.”
12 September, 2014 posted by: Douglas Heddings
Here we are in the second week of September and the numbers thus far are both telling and expected. Take a look at the charts shown above and below, which show an almost 5% increase in inventory in just the 5 days after Labor Day. In addition, contract signings for that same 5 day period decreased by 2%. It is too early to tell but if history does indeed repeat, we will see a continued increase in inventory and a decrease in contract signings through September. That said, contract signings in October should pick up to a considerable pace as the summer officially ends for all, children are settled into school and the Jewish holiday of Rosh Hashanah will have passed. L’shana Tovah. Read the rest of this entry »
09 September, 2014 posted by: CORE
Marking the official launch of CORE’s latest new development 42 Crosby, The New York Times covered a classic illustration of New York City’s robust luxury residential market. Situated on the corner of Broome and Crosby Streets, the 10-unit Soho building was profiled after unveiling plans to provide private parking to residents for $1 million per space. With space at a premium in NYC, parking is the number one most requested amenity in residential development. “We’re looking at setting the benchmark,” said Shaun Osher. “In real estate, location defines value and parking is no exception to that rule.”
08 September, 2014 posted by: CORE
CORE’s latest new development project at 15 Renwick continues to generate attention, following the launch of it’s marketing campaign this summer. Last week, Curbed showcased the latest renderings of the 31-unit, Soho building, displaying artistic renderings of the lobby and a living room setup. The images released so far illustrate the proposed interior of several units, accented by aristocratic-era characters staged throughout. Developed by IGI-USA, CEO Eldad Blaustein notes that the unique characters and aesthetic of the photos are meant to appeal to “people who are creative, different.”
01 September, 2014 posted by: CORE
Last week, downtown’s increasingly popular Hudson Square was covered by the New York Post in this neighborhood trend piece. Documenting the latest in the area’s growing real estate market, the article provided readers with insight on the neighborhood’s transformation into a coveted Manhattan destination for both tourists and residents alike. CORE’s latest new development project 15 Renwick was profiled, which recently unveiled it’s unique marketing campaign. When asked about the appeal of this 31-unit condominium, Shaun Osher says “The product is different fundamentally than anything on the market right now.”
28 August, 2014 posted by: CORE
As one of Downtown Manhattan’s preeminent new development properties, 93 Worth has continued to maintain its position as one of the most coveted luxury buildings in the city. This week, the Tribeca condominium made headlines after it was named 2014’s best-selling building in New York City, according to Curbed NY. With data pulled by Property Shark, 93 Worth sold more units so far this year than any other development in Manhattan. With a median price of $1,578,288, 73 units have been sold to date since sales launched in 2012.
This news comes on the heels of 93 Worth setting the stage for the Fall 2014 issue of DuJour Magazine. With actress Katie Holmes gracing the cover, the featured fashion editorial piece was shot inside of 93 Worth’s Penthouse 3. With its classically appointed yet modern aesthetic, Katie was photographed inside of the penthouse, with a stunning downtown skyline serving as the backdrop. Check out this season’s cover and more photos taken during the shoot after the jump. Read the rest of this entry »
14 August, 2014 posted by: Douglas Heddings
Perhaps one of the most common misnomers regarding the Manhattan real estate market is that listing in August is unwise, and a waste of time. Most sellers believe that no one is searching for their new home in August and that the market will explode with activity after Labor Day.
After 22 years of selling Manhattan real estate, I can unequivocally state that this couldn’t be further from the truth. Yes, inventory decreases in August, and yes it increases in September. In fact, from July to August of 2013, active listings decreased 6% from 4542 to 4275*. Signed contracts during the same period decreased 18%. This year active listings have decreased by 4% and signed contracts have dropped 34%. These numbers would seem to indicate that perhaps waiting until September is wise but take a look at this:
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