Guide Me Home to Manhattan Luxury - Home

Rhapsody at 33 RSD

2009-11-04T00:28:00Z

‘S Wonderful! ’S Marvelous! …
’S awful nice! ’S Paradise!
’S what I love to see!

These lyrics written for the 1927 musical “Funny Face” could easily describe the River views from 33 Riverside where the acclaimed Gershwin brothers moved the following year. Located at 75th Street, the building is perched on a prominent rise above Riverside Park, giving front apartments sweeping vistas of the Hudson to the South and West. In adjoining penthouses George and Ira composed now classic numbers like “I Got Rhythm” and “Embraceable You” for “Girl Crazy,” and gave parties for cast and orchestra members including Ethel Merman, Benny Goodman, Glenn Miller and Jimmy Dorsey that were as much the toast of the town as their legendary music.

The Gershwins moved in just as the stately doorman buildings on Riverside Drive were beginning to rival those of Central Park West. At the time, architect George F. Pelham, a master of his ... Continued on the blog.

50% of Manhattanites are Single

2009-10-30T19:26:00Z

Actually, the article I read in the NY Post regarding some recently published Manhattan census information didn’t come as too much of a surprise. In the last quarter, 52% of all homes sold were studio and one-bedroom apartments.

Best news for single Manhattanites from the article: one has a 50/50 chance that the cute neighbor down the hall is likely to be available… (or across the restaurant, sitting next to you on the subway…).

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Haunted, Spooky and Fun – Halloween in Manhattan

2009-10-19T22:09:00Z

Having spent my childhood outside the city, I often wondered what kids here did on Halloween? Did they go trick-or-treating through the neighborhood dressed in scary costumes? Do they have memories of Mothers who destroyed the features of a mask in favor of better vision? What was their version of late night visits to the grocery store to purchase cheap toilet paper that would later end up strung throughout someone’s trees? (Not that I ever did that…)

There are several neighborhoods and blocks throughout the city where one can collect candy door-to-door, but fright night in Manhattan offers some special goodies one can only find here.

To celebrate Halloween right, consider some of these fun options:

The American Museum of Natural History hosts an event from 2-5pm o ... Continued on the blog.

It’s that time of year again.

2009-09-22T19:42:00Z

You’re thinking: back to school? Fall boots? Nope – it’s UN General Assembly time. Emotions in New York City range from excited to exhausted and from support to protests. Not all the anger revolves around politics, however. To accommodate all the motorcades, roadways get blocked and there is even a special motorcade lane down the middle of 59th Street. If ever there was a time to take the subway, this is probably it.

If you can get past the traffic, the fact that our tiny Manhattan island successfully plays host to this event is remarkable. No matter how one feels about it, this is part of being a New Yorker as is the right to complain about it every year.

Posted By: http://www.guidemehome2manhattanluxury.com ... Continued on the blog.

New Rules for Purchasing a Home?

2009-09-14T20:52:00Z

The New York Times published an article titled ”7 New Rules for the First Time Home Buyer.” It recommends, among other things considering income, the unknowns and expenses. While this is all very good advice for anyone considering purchasing their first home, the recommendations are good for anyone buying their first, second or third home.

For many years, we would counsel people that it was easier to get a mortgage than it was to qualify for a Manhattan co-op. Even in these times of more conservative lending, it sometimes still is.

Regardless of the style of apartment, co-op, condo or single family home in either the starter apartment or the luxury market, this article is a good reminder of the many things to be taken into consideration when outlining your property requirements and price threshold.

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When is the best time to buy a Manhattan apartment?

2009-08-14T20:16:00Z

How many times have you heard “Now is the time to buy real estate”? You aren’t going to hear that from me.

Prices are less than what they were and interest rates are at historic lows. That is all very true, but the time to buy real estate is a more personal decision. In addition to the financial requirements, it needs to be something that fits your current and future life plans. It would be much better to say that if now is the time for you to buy, it’s a great time.

Halstead Property is committed to helping those whose time is now to locate and secure their new home or investment. If you are considering a purchase, take a few moments to watch our “Behind the Numbers” video from the second quarter of 2009 and highlights from our recent buyer’s seminar to get some good facts regarding the state of Manhattan real estate.

Behind the Numbers Q2 2009

Manhattan Second Quarter Market Report

2009-07-13T22:16:00Z

The second quarter numbers showed a continued decline in both price and number of units sold. The average apartment price of $1,263,471 was 24% below a year ago and 16% below first quarter 2009. Part of this decline can be attributed to last year’s high priced closings in the luxury buildings of 15 Central Park West and the Plaza. The total number of sales recorded was also down 53% over the same time last year.

There has been a shift from condo’s to co-op’s as the majority of closings. Although all apartment sizes and form of ownership saw a decrease, the high end and larger apartments realized a larger drop by comparison

2 bedroom co-ops – 24%
3 bedroom+ co-ops – 39%
Coops over $10 million – 82%

Closings in condominiums, whose drop in prices is reported at 18%, are still reflecting sales negotiated prior to the global financial crisis.

Visit Ha ... Continued on the blog.

What is the “Short” in a Short Sale?

2009-07-08T14:22:00Z

Does it mean a quick sale? No. A short sale is a longer process than a typical real estate transaction. In reality, it can take 5 – 6 months with no guarantee that the offer will be accepted.

Does it mean the buyer gets a fabulous deal? Not necessarily. While lenders are willing to consider offers to purchase that are slightly below fair market value, they aren’t willing to take a low-ball offer.

The short sale must make more sense than a foreclosure procedure. If a prospective purchaser makes an offer that the lender sees as less cost effective than going to foreclosure on the property, at the end of the process the offer will be rejected.

Short sales are discounted payoffs of a mortgage. They occur when the amount that the property can be sold for is less than the amount owed on the mortgage. The lender or lenders must consent to accept less than they are owed to release the lien. It’s the bank that comes up short.

Short sa ... Continued on the blog.

New York’s River to River Fest

2009-07-03T14:00:00Z

Time seems to be flying by so quickly, I almost forgot about all the events of the River to River festival. It was founded following September 11th with the idea to use the arts to help revitalize lower Manhattan.

What it is, is an amazing festival of arts and culture that runs from June through August. In locations all around the lower tip of Manhattan and literally river to river, events are held throughout the summer including culinary events, music and dance. The range from the traditional to the avant garde and include names you will know and some you’ll be happy to learn.

You can view the events brochure here, or better yet visit the website and register for the email blast so you won’t miss a thing.

Posted By: http://www.guidemehome2manhattanluxury.com/assets/2008/7/15/SharonMichnay. ... Continued on the blog.

Manhattan Shoe Guidelines

2009-06-29T13:52:00Z

Last evening over dinner with a friend who was recently transplanted to Manhattan, a topic of discussion was shoes. More closely, it was a discussion about expensive shoes destroyed on subway grates, brick streets and sidewalk cracks.

Next to Milan, New Yorkers have probably the best shoe options around. The shoe department at Saks even has its own zip code! The frequent mishaps for a pair of heels has led to a saturation of repair shops that makes the spacing of Starbucks locations seem spread out. The problem has even sparked entrepreneurs to create inventive solutions such as the “Smart Heel” device.

While the danger is real, the solution doesn’t resemble the commuting scenes in the movie Working Girl. Instead if Nikes, Manhattanites will don more comfortable, yet stylish shoes while riding the subway and carrying heavy laptops. Flip flops are a summer seasonal favorite. You’ll ... Continued on the blog.

Above Chelsea and Points Further North

2009-06-11T17:08:00Z

Chelsea has just become a bit more green. After what seems like an eternity, the first phase of the High Line has finally opened to the public as a park.

Originally built in the 1930s to safely transport goods throughout Manhattan’s then industrial West Side, the tracks have sat empty since the last train rolled through in the 1980s.

Phase one, which runs from Gansevoort in the Meat Packing district to West 20th Street is open daily from 7 – 10pm. Phase two will extend the park up through 30th Street.

To learn more about the High Line, its struggle to survive and the reconstruction visit TheHighLine.org.

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Staged!

2009-06-08T15:02:00Z

The buyers are hip to it and sellers should be. It’s easy to poke fun at a couch positioned on the diagonal, the cornered bed or obvious furniture arrangements to make rooms look larger but stats prove staged properties sell faster at a higher value. A professionally staged home is cleaner, fresher and clutter-free so that even a property which needs renovation will appear welcoming. Buyers may resent tricks of the trade used to loosen their purse strings but they are now so accustomed to viewing polished presentations that most feel dissatisfied when the “wow” factor is missing from that all important first impression.

As seen on the reality TV series, staging can get very involved. Short of reconfiguring layouts, landscaping the garden and renovating a kitchen, some basic steps are essential. Homes should be deep cleaned by professionals who do windows and have no fear of dangers lurking behind the refrigerator. Out go curtains that block ... Continued on the blog.

Manhattan Real Estate Market Trends – historical

2009-06-02T17:12:00Z

Halstead Property recently published a five year analysis of Manhattan home prices from 2004 – 2008. Similar to our quarterly reports, our Five Year Market Report statistics are reported for Manhattan co-ops and condos overall and then by each major section of the city including East Side, West Side, Upper Manhattan, Midtown and Downtown.

The report shows an incredible increase in prices during this timeframe. The average apartment sales price rose 79% and the median price experienced a 70% increase.

Also included in the report are summaries of some of the economic factors that affect the market such as employment data, Wall Street, building permits and interest rates.

Whether you are a real estate enthusiast or in the market to buy or sell a home, this report gives insight. Try comparing it to ... Continued on the blog.

Paris in NYC

2009-05-28T18:17:00Z

Tennis anyone? The French Open is in full swing, the first of grand slam tournaments famous for the red clay court surface. New Yorkers don’t have to go to Paris for red clay, there are ten courts in Riverside Park on the Esplanade that runs along the water. The courts are free with a city permit ($100 for adults, obtainable from the Parks department at the Central Park Zoo office or Paragon on 18th street) or $7 for a single play permit. Though the courts are public, this extremely rare surface is maintained by the Riverside Clay Tennis Association. The organization was founded in the mid-1980s when the surface was more dirt than clay and the City threatened to pave the weed-infested facility with asphalt. A group of ardent tennis players petitioned, lobbied and raised funds to preserve the unique public amenity. Over the years, the RCTA restored all ten courts, replaced lines, installed drainage and irrigatio ... Continued on the blog.

Manhattan: The land of instant gratification

2009-05-22T20:52:00Z

I was listening to the XM satellite radio and an Allison Moyet song came on. If you haven’t heard of her, you may remember this song:

http://www.youtube.com/watch?v=yPOZ-YmE9C4

Knowing the artist or song is irrelevant to this post. The song reminded me of when I was a young hipster (or so I believed) working in a music store way back when. I recalled that a customer had wanted the entire Allison Moyet collection. It was unfortunately not in stock and I had to “special order” it from the catalogue we kept under the counter. Within about 2 1/2 weeks, my customer happily took home all the Allison Moyet that was available.

Two items from this memory made me laugh: 1) Walking into a retail store to buy music and 2) Waiting that long to buy a recording.

At the time, even I was frustrated at the length of time it took for those CDs to arrive. I h ... Continued on the blog.