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Market Conditions in 10007 : Real Estate Advice

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  • Local Info0
  • Home Buying2
  • Home Selling0
  • Market Conditions0

Activity 142
Fri Sep 24, 2010
Mitchell Hall answered:
I'll have to check my crystal ball and get back to you. Seriously no one can predict the future.
0 votes 4 answers Share Flag
Thu Sep 16, 2010
Rick LiCastri answered:
Wed Apr 27, 2011
Filippa Edberg-Manuel answered:
Dear Shauna,

Chelsea, and particularly West Chelsea with the recently opened (first part of the) High Line Park, is in my opinion one of the most exciting areas of New York.

Since the mid-1990s, Chelsea has became a gallery destination as art-world brokers were priced out of Soho. From 16th Street to 27th Street, between 10th and 11th Avenues, there are more than 350 art galleries.

The city rezoned the area in 2005, allowing for a large district around the High Line in which air rights could be transferred, and also allowing for a bonus that permitted developers denser apartment buildings if they include one-fifth of the units as affordable housing.

The West Chelsea/High Line Rezoning Plan by the City of New York’s Department of Planning paired with the opening of the High Line park, has led to a construction boom that might be unrivaled in terms of the instant creation of super-expensive real estate and spurred the development of over 1,000 residential units and 2 million square feet of commercial space.

It would be fair to say that land value today has gone up significantly compared to 10 years ago, especially with the many new developments by "Starchitects" like Richard Meier, Neil Denari, Linda Roy, Gary Handel, Audrey Matlock, Enrique Norten and Robert A.M. Stern. Frank Gehry's IAC building, Shigeru Ban's Metal Shutter Houses, Annabelle Selldorf's 100 11th Avenue, and Jean Nouvel's 200 Eleventh Avenue.

As new parks that have recently opened and will open within the next couple of years, and as transportation is becoming easier with the subway slowly reaching the West side (26 st station planned to open 2012) property value has a good chance of raising even higher.

If you would like further advice feel free to contact me. I'd be happy to meet you and discuss land and development opportunities in the Chelsea/ High Line Area.

Filippa Edberg
Commercial Headquarters
... more
0 votes 2 answers Share Flag
Wed Sep 29, 2010
Anna M Brocco answered:
It's always a good time to buy when you are ready and need to buy--unfortunately, none of us knows where the market will head tomorrow or in the days ahead--what we all know is today--interest rates are at historic lows and none of us knows how long they will stay that way--you decide. ... more
0 votes 6 answers Share Flag
Sat Jun 14, 2014
Anna M Brocco answered:
Much will depend on the area(s) of interest, are you specifically interested in Manhattan, or will other areas do--without any particulars, you may wish to ask your question again--or any local agent(s) can help you, contact any realty office(s) and inquire--also check local print media for by owner rentals, word of mouth, etc. ... more
0 votes 5 answers Share Flag
Fri Aug 13, 2010
Maureen Cody answered:
Dear Michael

Was this a short sale? A bank foreclosure? Also not sure what site you are looking at - there are some sites that record the amount of the loan the bank has forgiven, and not the list or sale price. For only $6/ sq ft anywhere sounds inaccurate to me.

Contact a local Realtor who can provide further research.

... more
0 votes 3 answers Share Flag
Mon Dec 26, 2011
Anna M Brocco answered:
Maintenance fees will vary from complex to complex--much will depend on size, any existing mortgage, land lease fees, amenities, assessments, etc. If you are interested in a particular complex, you can either ask your question again with a link or any local agent(s) can help you, contact any realty office(s) and inquire--also consider working with an agent of your own--he/she can provide you with any information, schedule showings, provide comps, etc. ... more
0 votes 9 answers Share Flag
Sun Aug 8, 2010
Joseph Runfola answered:
How much longer can the government bribe the public with the public's money?
0 votes 5 answers Share Flag
Wed Jun 9, 2010
Anna M Brocco answered:
A lot will depend on your budget and your expectations on the return of your investment--if you are not familiar with the area, consider a visit and see what locations, properties that could be of interest, etc.--any local agent can help you, then go from there. ... more
0 votes 1 answer Share Flag
Fri May 21, 2010
Anna M Brocco answered:
Any local agent will be able to help you--contact any realty office(s) and inquire or contact any local Trulia contributor(s) directly and ask.
0 votes 3 answers Share Flag
Mon May 14, 2012
Jenet Levy answered:
Good question. Not in my experience. The construction of the 2nd Ave. subway has negatively affected storeowners on 2nd Ave, because it blocks some foot traffic. It surely will increase value of residential units once the 2nd Ave. subway is completed. Right now the further East you go from Lexington Ave. and access to the #4,5,6 the lower the prices. That will change when subway access is better further east. ... more
0 votes 7 answers Share Flag
Thu Apr 29, 2010
First Last answered:
"Slashed" is too strong a word, in my opinion. I own an apartment in the 10021 zip code, I meet regularly with buyers and sellers in this neighborhood, and I follow the data regarding sales. What we have in this neighborhood is a soft market. Remember, though, that many buildings here are cooperatives and almost by definition, those properties are less vulnerable to distressed selling. There are certainly good deals to be found, and when the 2nd Ave subway comes in, apartments near the stations are expected to experience added appreciation.

Karla Harby, VP
Licensed Real Estate Salesperson
Charles Rutenberg Realty, LLC
... more
0 votes 3 answers Share Flag
Sat Mar 20, 2010
Bzises asked:
Sun Feb 7, 2010
Robin Silverberg answered:
You can look on the Prudential Douglas Elliman website. They have a market report for 2000-2009 that should have the information you are looking for.
0 votes 1 answer Share Flag
Sun May 13, 2012
Anoir Redouane answered:
Dear Jlgguy,

How are you? I hope all is well.

Most easements will have an impact on value. It really will depend on what the facade easement is for and what the impact of that easement is?

Please email me with more details and I'll try to help you out.

Anoir Redouane
Professional Real Estate Consultant
Halstead Property, LLC - SoHo
451 W Broadway
New York, NY 10012
T: 212-381-4209
F: 646-775-4290
... more
0 votes 3 answers Share Flag
Sun Dec 13, 2009
Anna M Brocco answered:
Depends on what exactly you're looking for--why not contact any local realty office(s) and ask to look at a few rentals -- see what your money can buy firsthand.

0 votes 1 answer Share Flag
Sat Dec 12, 2009
Anoir Redouane answered:
Dear Manny,

This is nearly impossible to answer when one doesn't have the comparables for that particular Coop.
You or your agent (preferably), should look at comparable units that recently sold or are under contract within the building or the immediate area and see what other units similar in size, condition, exposure, amenities and other valuable upgrade (just to name a few) and then decide wheter the $100,000 is a fair, overvalued or undervalued price, before you can make an educated decision on what to offer and what strategy you would use in submitting such offer. Motivation of both you and the seller will also have an effect on the final number as well as the available comparable units and interest from potential other buyers.

I hope this helped you on your way to securing the place you want.

Please contact me privately if you need any help and if you're not in my area, I'd love to refer you out to a professional that can help you in your area by pulling comparables for you and represent you.

Best regards,

Anoir Redouane
Professional Real Estate Consultant
... more
0 votes 1 answer Share Flag
Mon Aug 9, 2010
Alen Moshkovich answered:

If I'm not mistaking, a potential buyer will stay on a property listing with a video tour ten times longer than one would on a virtual tour or photos alone. A video is more interactive, you can narrate it, you can add music, etc...On a property that has photos alone, typically if done right they are not very reliable and distorted with a wide angel camera lens.
Personally I believe that agents should have both. They need to have photos and they should have a video, even if it's done on your own with your own camera. The impression is much stronger.

Are you interviewing brokers and asking them if they do video tours?
... more
0 votes 16 answers Share Flag
Tue Oct 27, 2009
Bob Borger answered:
Hey, Ziggy hope all is well. Here's an interesting post I found in Curbed that may help to answer your question.

I however would be concerned about prices for those properties that are in proximity or adjacent to the facilities' truck loading and unloading zone which i believe will be active between 1am and 5am weekdays.

So unless you're in direct earshot of the trucks unloading or near the congestion that will be caused by traffic coming off the drive, over time there may be price appreciation as smaller neighborhood stores arrive and the neighborhood becomes popular destination for buyers and renters.
... more
0 votes 2 answers Share Flag
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