01 May, 2017 posted by: CORE
Trends & Tides takes a look at the ever changing environment of New York City real estate – past, present and future – by offering observations, analyzing perceptions and challenging myths, while giving a dose of reality along the way.
CORE saw a 26% increase in contract signings for the first quarter of 2017 and April has proven to bring more of the same with the Passover/Easter Holiday week seeing unexpected record activity. Spring has definitely sprung as my peers at other firms seem to echo my experience. That said, I wanted to take a deeper dive into exactly what is happening across different price points in the Manhattan marketplace (real time up to the minute data courtesy of UrbanDigs).
You see that the $10M+ market has seen contraction in inventory since last year but it is worth noting that 178 of those 402 units over $10M are actually over $20M which is a considerable number of ultra-high end homes. Quite a bit of inventory if you are shopping the $20M+ market. Despite that fact, pending deals since last year remain flat at 72 deals in the $10M+ range in contract. As far as the other segments of the market, relatively few additional properties are on the market this year versus last and the contract activity seems to indicate that much of the new inventory is being absorbed rather quickly.
Making sense of what is going on in different price points, different locations, and overall different segments of the market is precisely why the consumer needs a real estate professional to assist with proper pricing and effective marketing strategy
. Not everything is selling in this market and it remains imperative to navigate wisely.
28 April, 2017 posted by: CORE
Offered at $3,950,000, this 4-bedroom, 3.5-bathroom condo combines the best of loft living with a townhome feel. Located on the convenient Upper West Side, this gem of a loft offers a 600-square-foot great room with 16 foot ceilings – ideal for entertaining. Schedule a time to see this prized listing in the heart of Manhattan on Saturday!
THE HOUSE CALL
Saturday, April 29, 11:30am– 12:30pm (By appointment only)
27 April, 2017 posted by: CORE
Tax Day may be behind us, but next month’s Quoin sets out to explore the in’s and out’s of New York City real estate tax. Look out for the reveal of the Manhattan condo currently on the market with the highest monthly tax. Subscribe below to receive the next issue of Quoin, out Monday!
26 April, 2017 posted by: CORE
Recently CORE was the first New York real estate brokerage firm to adopt a technology that completely changes—and greatly improves—the co-op board application process. Featured in The New York Times, BoardPackager is a good reminder: if it’s always been done a certain way, it might be time to ask why.
CORE caught up with Ming Ooi, BoardPackager’s COO and Co-founder:
“It has been a tremendous boost for BoardPackager in the real estate, technology and investment sectors to have CORE as an early adopter because the agency’s reputation as a cutting edge brokerage really added to our credibility and opened a lot of doors and opportunities. Furthermore, CORE agents have been instrumental in not just the adoption but providing valuable real-world feedback that has allowed us to improve the platform; and we continue to value and encourage that insight from such tech savvy users.”
Click the link to read the full article on this revolutionary online platform: The Dreaded Co-op Board Application Goes Online
25 April, 2017 posted by: CORE
Dwell Diaries provides a peek at a “day-in-the-life” in one of CORE’s exclusive listings. From master suites to neighborhood hotspots, our diary doesn’t spare a detail.
Waking up at 124 West 23rd Street, 15A is nothing short of blissful. Thanks to this three-bedroom’s location at the cusp of Chelsea, Flatiron and Nomad, each morning presents itself with not only endless convenience but also ample opportunity for “New York moments.” Floor-to-ceiling windows in the luxurious master bedroom suite ensure natural light doesn’t escape your morning routine. The master bedroom suite also boasts a deep soaking tub and radiated heated floors. Who needs to a spa day when everything you need for relaxation is at home at 124 West 23rd Street, 15A?
Even though this boutique building features a fitness room, gym and 24-hour concierge, you don’t have to go much farther if you wish to switch up your workout regimen or run errands. Firstly, luxury workout locales such as David Barton, Equinox and SoulCycle are only blocks away from 124 West 23rd Street. With proximity to three vibrant New York City neighborhoods, there is no shortage of excellent shopping, dining and other activities. Eataly, the largest Italian marketplace in the world, situated in Flatiron is a one-stop-shop for high-end groceries, upscale (and al fresco) dining and much more. If you’re only looking for the necessities this afternoon, your local Whole Foods in Chelsea should do the trick. Finally, some of the best luxury shopping lives on Fifth Avenue – you’ll find Anthropologie, J.Crew and Michael Kors to name a few.
Fancy an afternoon pick-me-up? Dough Doughnuts, the Brooklyn spin-off on West 19th Street, is the perfect pit stop for a sweet treat and coffee. If your pick-me-up is more savory than sweet, nostalgic New York City doesn’t escape this neighborhood, thanks to the nearby eatery El Quijote. Once part of the historic Chelsea Hotel, this longtime eatery offers traditional Spanish dishes. As the evening nears, and with groceries in hand, why not enjoy dinner at home in your open Snaidero kitchen? Dine al fresco on one of your two private terraces while gazing at the New York City skyline; 15 floors up on West 23rd Street is wonderfully quiet on a spring evening. In the hub of Chelsea yet outside of the fray in this quiet, boutique building – what’s not to love about living at 124 West 23rd Street, 15A?
21 April, 2017 posted by: CORE
Offered at $2,950,000, this 2-bedroom, 2-bathroom loft designed by architects Roman and Williams, boasts over 11-foot ceilings and stunning industrial steel windows. Within one of the most prestigious and coveted condominium buildings in Tribeca, this home additionally offers a sprawling private terrace that’s perfect for warm weather entertainment. Don’t miss the chance to stop by this coveted loft listing on Sunday afternoon!
THE HOUSE CALL
Sunday, April 23, 2:00– 3:30pm
20 April, 2017 posted by: CORE
This past Tuesday, CORE’s Adie Kriegstein was a guest on “Good Morning New York, Real Estate,” discussing the advantages and disadvantages of buying a sponsor apartment and talking through how they differ from regular co-ops here in New York City. Click the link to hear what Adie had to say regarding this topic and more!
19 April, 2017 posted by: CORE
Did you catch 25 Bond Street, 2E on Brick Underground last week? This coveted condo in the heart of Noho was highlighted for its architectural significance, thanks to 25 Bond Street’s award-winning design by acclaimed BKSK Architects. Click the link to see more of this bespoke residence!
Click here to read the full article: Six homes for sale in stunning, architecturally-significant NYC buildings
18 April, 2017 posted by: CORE
Best Apartment I Ever Sold invites our agents to share the unique story of their best selling experience to date. This week, learn why Keren Ringler‘s sale at 115 East 86th Street, 52 is her best one yet.
Nearly two years ago, I was asked to represent the seller of 115 East 86th Street, 52. This was the best apartment I ever sold, not only because the apartment is a beautiful home, but also because it allowed me to use my varied skills and strengths as a broker, negotiator and stager.
The seller had many sentimental furnishings and had lived in the apartment for close to 20 years but understood the power of staging and presentation when listing an apartment. By working closely with a stager, I was able to minimize furnishings, repaint in some rooms to highlight the amazing natural light and emphasize benefits of other spaces within the home. Finally, excellent photography ensured we came to market with the apartment being superbly presented.
After one week on the market I had multiple offers from well-qualified buyers. As a team, the seller and I devised a selling strategy and I was able to negotiate with all of the potential buyers. I went to contract within 3 weeks and closed achieving the highest price paid for this particular line in the building. What made this even more fulfilling was that the results felt like it was a win-win for all parties involved!
17 April, 2017 posted by: CORE
For the high profile conversion project at 141 Fifth Avenue, CORE was tasked with hitting record prices during 2008’s fluctuating market. Determined to develop a one-of-kind product, CORE worked diligently with the architect to curate each residence, creating New York City’s first luxury development of bespoke homes. Amidst challenging economic times, CORE still achieved a 100% sell-out at 141 Fifth Avenue and set a record sales price of $2,000 per square foot for the Flatiron neighborhood – all without traditional advertising.