nycbroker

The Corcoran Townhouse Report Corcoran's annual examination of Manhattan’s single- and multi-family townhouse market. This report uses market-wide data based on transactions that closed in 2011 and compares it to closings that took place in 2010. 2011 proved to be another solid year for townhouse sales. There were 201 Manhattan townhouse sales in 2011. Led by a surge of transactions Uptown, there were 106 single-family townhouse sales, a 10% increase compared to 2010. Single-family... Read Full Story

515 East 72nd Street 515 East 72nd Street offers 40,000 square feet of resident-exclusive amenities including: a half-acre private park, the largest on-premises private park in New York City, a state of the art fitness center, a 56' indoor pool, and all-inclusive classes and programs. This 41 story full service luxury condominium built in the 1980s and gut renovated a few years ago has 329 residences, most of which include a private balcony or terrace. One to three bedroom homes on a... Read Full Story

Gramercy : Downtown on the East Side, from 14th Street to 23rd Street, from Park Avenue South to the East River. If you’ve ever wanted a secret garden to call your own, the co-ops and townhouses for sale and rent alongside Gramercy Park are for you. The entire little enclave of Gramercy is the brainchild of a nineteenth-century real estate developer who created one of New York City’s most beautiful green spaces — a private park — and then built apartments and row houses with views of it... Read Full Story

The NYC Development Hub is a new state-of-the-art plan review center to accelerate the approval process for construction projects throughout New York City.  At the Development Hub in Lower Manhattan, licensed professionals can electronically submit digital plans to the Department and resolve any issues with City officials in a virtual environment.  The plan review center is made up of the Department’s senior plan examiners, who collaborate with representatives from six other City... Read Full Story

The Real Estate Board of New York (REBNY) has released the results of its Residential Brokers Survey for the fourth quarter 2011.  The results reflected a seasonably weak fourth quarter.  As REBNY’s Fourth Quarter 2011 Residential Sales Report found, New York City average home prices and sales citywide declined compared to the same time last year. However, 60 percent of the brokers surveyed are optimistic for 2012 and expect next quarter’s residential market to be slightly better or... Read Full Story

NYC announced today an 18 percent decrease in construction-related accidents in New York City for 2011, despite a 7.7 percent increase in the issuance of construction permits citywide.  Construction-related injuries also decreased across the City last year – falling from 165 reported accidents in 2010 to 152 in 2011, a reduction of 7.8 percent. In addition to increased enforcement, expanded outreach to construction industry members and greater cooperation by builders throughout the City... Read Full Story

  Time Line Guide For Purchasing a home in Manhattan - Relocation 1. Mortgage Pre-Approval: Typical Time frame: 30 minutes - 2 hours You must know how much you can spend before you spend it. Condominium apartments require at least 10% down; cooperatives generally require at least 25% down. However, every building is different. Go to this web site to get pre-approved and start the mortgage process. 2. Find an apartment: Typical Time frame: 3 - 6 months before closing... Read Full Story

Cooperative and Condominium Tax Abatement The Cooperative and Condominium Tax Abatement Program gives partial tax relief to owners and tenant-shareholders of Residential Class 2 properties.  This is because Class 1 properties (i.e., one-, two-, and three-family homes), are assessed at a lower percentage of market value than Class 2. The 421a benefits vary depending on factors such as location, method of construction and if requirements for affordable housing have been met. The tax... Read Full Story

Manhattan Real Estate Question and Answer Q.     What is the difference between the approval process in co-op versus condo building? A . The difference between the approval processes in a coop versus condo buildings is based on the two different forms of ownership. Coop ownership differs from that of Condos in that you own shares in a corporation accompanied by a proprietary lease instead of holding title to a piece of property. A board of directors governs the coop. The coop board... Read Full Story

The Morellino is a pre-war condominium conversion consisting of 35 residential units, 20 storage units, & 5 retail units connected to the building. Of the 35 residential units, 15 1BR, 9 2BRs, and 11 3BRs. Six of the units boast outdoor space, either as a rooftop terrace or ground level garden. The building includes a fitness center, common outdoor rooftop, children’s playroom, a virtual doorman system, and a reception area/lobby. The Morellino is located in the heart of West Harlem at... Read Full Story