Brooks Brothers at Broadway and 87th St.

2381 Broadway bet 87th/88th
Brooks Brothers new Upper West Side location

The vacant space, where both Saigon then Malaysia Grill once occupied will become a Brooks Brothers store.

The block between 87th and 88th on Broadway has been vacant since 2007. This summer Ricky's moved in followed by a Japanese Gap style retail chain Uniqlo that opened in August with fake snow in the window.

The Japanese retailer closed and was gone by the end of September.

The Gap at 2373 Broadway between 86th and 87th at The Boulevard is closing in February and Filenes Basement at Broadway and 79th is closing in January.

In 2010 Forbes ranked New York, NY 10024 on Upper West Side #32 most expensive zip code in the country (median home: $2,486,757 - up 6% from 2009)

related blog posts:

Say No to Drug store chains 9/2007

No Walgreens at Broadway between 87th/88th 1/2008

Apple store opens on Upper West Side 1/2008

Vacant Storefront Broadway between 87th/88th 2/2008

(iPhone photos: ©Mitchell Hall)

Manhattan Townhouse Market Report

Manhattan Townhouse Market Report Third Quarter 2011 Due to the low number of townhouse transactions each quarter, prices can be skewed easily. On the East Side, median price surged 37% to $8.3 million from a year ago due to transactions at $23 million, $36.5 million and $48 million. On the West Side, median price increased 18% to $5.1 million from a year ago due to sales at $12.2 and $13.75 million. Downtown townhouses declined 6% from a year ago and 36% in median price from Second Quarter 2011 as the highest sale this quarter was $8.4 million whereas last quarter there were two sales over $11 million. As always, I will continue to follow closely Manhattan's townhouse sales activity and trends, and would welcome the oportunity to answer any questions about this report, the market in general or any questions about buying or selling real estate in Manhattan. I’m very happy to talk to people at any stage of the Real Estate process and can discuss the opportunities in each neighborhood, price point and type of townhouse. More about Townhouses: Townhouse Fall 2011 Edition Mitchell Hall, Corcoran pg.16 Mixed-use Townhouses with Commercial Space Author: Sonia Samuel and Emilia Ferrara

Awesome Apthorp Apartments - 'Tis the Season!

The Apthorp390 West End Avenue - West 78th and Broadway 

The elegant full-block apartment complex built by the Astor family for the New York elite.

The History

• Built in 1908
• The vision of William Waldorf Astor, executed by architects Clinton and Russell
• Listed on the National Register of Historic Places
• Italian Renaissance Revival architecture
• Richly ornamented limestone façade
• Iconic iron entry gates
• One of four private courtyard drive pre-war buildings
• 163 condominium residences

Active Today

Current available condo apartments: One, two, three, four and five bedroom apartments range from a 1031 square foot one bedroom one bath asking $2,100,000 to a 5 bedroom 5.5 bath 6,128 square foot residence asking $14,950,000

Contact me @ 917-312-0924 to schedule showings or click here to receive listings via email at Apthorp or any other Manhattan New Development or conversion.

Macy's Ballons Pumped on Upper West Side

Macy's Balloons getting pumped on West 81st and West 77th Streets

While the Thanksgiving Day Parade is the main event, the pumping of the balloons the night before has become a beloved annual tradition on the Upper West Side

Happy Thanksgiving

iPhone photos ©Mitchell Hall 2011

Happy Thanksgiving

Mitchell Hall, Associate Broker, The Corcoran Group

Upper West Side Galactic Laser Spectacular

iPhone photo ©Mitchell Hall 2011

The American Museum of Natural History is located on Central Park West between 77th and 81st Streets.

The museum's Rose Center for Earth and Space at the Hayden Planetarium is a galactic spectacular

Bright green waves of laser light will ripple across the Hayden Sphere from 5 to 11 pm every evening until Sunday, November 27, to illustrate how the Hubble Space Telescope analyzes distant galaxies, quasars, and other celestial objects in the universe.

iPhone photos ©Mitchell Hall 2011

The laser installation can be best viewed from 81st Street, between Central Park West and Columbus Avenue.

The Dillon - 425 West 53rd - Townhouse Units

The Dillon, a new development, 83-unit condominium at 425 West 53rd Street between Ninth and 10th avenues, had a broker party recently to debut its townhouse units and showcase its penthouses.

Developed by SDS Procida and marketed by Corcoran Sunshine Marketing Group, the Dillon is 60 percent sold, including one of the nine townhouses. The available units range from a 565-square-foot studio priced at $595,000, to a four-bedroom townhouse spanning 2,750 feet and priced at $4.15 million.

Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape.

The  designer apartments' walls, hand-painted by New York painter Mark Chamberlain in colorful stripes and honeycomb patterns. BMWs were temporarily on display in the garage to show off the underground parking.

Designed to suit the needs of diverse city lifestyles, amenities at The Dillon include a 24-hour attended lobby and a serene, landscaped garden terrace accessible via the residents’ lounge. Ideal for entertaining, the lounge is equipped with a service bar and a private dining room with catering kitchen. And a state-of-the-art fitness center with windows overlooking the garden terrace is adjacent to the children’s playroom.

The midtown Clinton "Hells Kitchen location is within walking distance of Midtown’s business center, Central Park and Hudson River Park, Times Square, Lincoln Center, Time Warner Center, MoMa and other myriad cultural and dining venues.

Click here to receive listings via email at The Dillon or any Manhattan New Developments.

NYC Home Prices Rise Even As They Fall Nationwide

National housing prices declined on both a month-over-month and year-over-year basis in September, according to the Housing Market Index released yesterday by CoreLogic, but the news was far better for the New York City area reported Adam Fusfeld in the Real Deal.

The New York-White Plains-Wayne, N.J. market experienced a 2.2 percent increase in single-family housing prices between September 2010 and September 2011, taking into account distressed sales. Excluding those sales, the year-over-year increase was 2.9 percent.

That compares favorably to the grim nationwide data, which shows September housing prices declined by 4.1 percent from a year ago including distressed sales, and 1.1 percent without them. The month-over-month decline was 1.1 percent, including distressed sales.

For the New York area, it's the second consecutive month of 2 to 3 percent gains in prices both including and excluding distressed sales. Of the 10 largest metro markets, only Washington, D.C., where housing prices rose 1 percent, also had a year-over-year price increase. New York was also the sixth-best performing state, according to CoreLogic, as the price increase for single-family homes was 2.4 percent. West Virginia was tops with a 7 percent increase. - Adam Fusfeld

 

source: CoreLogic

Manhattan Monthly Market Snapshot October 2011

Manhattan Condominium Market Snapshot October 2011

Manhattan Cooperative Market Snapshot October 2011

Manhattan Negotiability Factor by Price Point October 2011

My current perspective is that the market has picked up a fair amount.  I believe there are two factors. The first fact is record low interest rates. The same amount of monthly payment now buys almost TWICE the dollar amount of mortgage than it did just 5 years ago. (ie $1000 a month now gets you a loan of $220,000 where as in 2006 it would get you a loan of about $150,000). 

The second fact is the sudden and steep rise in Manhattan apartment rents.  Rental vacancy rates are now below 1% and the average rent in Manhattan just hit an all-time high of $3,316 up 13% from 2008. Its hard to find a rental apartment now and your monthly cost has risen significant.  All this makes buying more appealing and we are seeing a big pick up in studios and 1 bedrooms where buyers were initially looking to rent but have figured out that buying is much less expensive. 

As always, I will continue to follow closely Manhattan's sales activity and trends in residential real estate, and would welcome the opportunity to answer any questions about this report, the market in general or any questions about buying or selling real estate in Manhattan. 

Upper West Side - Is Green the new Brownstone?

Upper West Side Brownstones in Fall Colors

West 80's, Upper West Side, Manhattan

(iPhone photo: ©Mitchell Hall)

Manhattan Townhouse Market Report

more photos@ Manhattan Photo Blog

Largest New Construction Housing Plan in Manhattan

550 West 45th Street Project Will Encompass Nearly an Entire City Block and Provide More Than 1,200 New Apartments with Over 600 Designated As Permanently Affordable, New Retail Space, New School and Open Green Space

550 West 45^th Street is the largest affordable new construction housing development project in Manhattan to be created under the Bloomberg Administration’s New Housing Marketplace Plan. The plan, launched by Mayor Bloomberg in 2003, is a multibillion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers by the close of the 2014 fiscal year. To date, the plan has funded the creation or preservation of more than 125,700 units of affordable housing across the five boroughs.

The residential portion of the project will be comprised of three separate buildings. Building A will be a 31-story tower with 698 total units with 141 affordable units (60 units being permanently affordable) and will contain the retail space at the ground floor level. Building B will be a 14-story building with 297 permanently affordable units. Building C will be a 14-story building with north and south segments located over the Amtrak train tracks with a combined 243 permanently affordable units.

Throughout all three buildings there will be 476 studio units, 419 one-bedroom units, 262 two-bedroom units and 81 three-bedroom units. The combined 600 permanently affordable units will be targeted to families with household incomes at ranges between 40 percent and 165 percent of the Area Median Income (AMI) or the equivalent of $32,720 to $134,970 for a family of four. The design by architect Schuman Lichtenstein Claman and Efron (SLCE) respects the scale of Clinton’s streetscapes by organizing the buildings into segments, each with a distinct exterior.

The residential development will be financed with $520 million primarily tax-exempt bonds issued by the New York State Housing Finance Agency , a subsidiary agency of New York State Homes and Community Renewal. These bonds are credit enhanced by a syndicate of lenders led by Wells Fargo Bank. The project also leverages $35.5 million in Low Income Housing Tax Credits.

Good Luck NYC Marathon Runners

Photo Courtesy of Central Park Conservancy

More than 45,00 runners and 200,000 spectators are expected in Central Park today for the 2011 ING NYC Marathon.

Every year, the first Sunday in November, New York Road Runners present the NYC Marathon. Runners from around the world come here to perform on the greatest stage in front of two million New York City fans.

Splendid weather is expected. Nothing but sunshine over the city today. Enjoy the marathon. 

Good Luck to all!

 http://www.ingnycmarathon.org/course_map/interactive_map.shtm

Daylight Saving Time Ends November 6th

Dont forget to set your clocks back  at 2:00 am  Sunday, November 6th - the end of  Daylight Savings Time.   The FDNY urges you to change the batteries in your smoke alarms and carbon monoxide detectors as well.