Friday, November 30, 2007

Paradise in Forest Hills

This is a spacious one bedroom in a beautiful, full time doorman building in Forest Hills Gardens. The units here are charming, the building itself looks like a castle and the commute into Manhattan is swifter than it appears on the map.

The neighborhood is a real neighborhood which has all of the Manhattan conveniences over on Austin street, without all of the pollution and congestion.
I can open your eyes to the wonders of NYC. There is more than one borough to live in and enjoy. Just ask me about the other options for less money than Manhattan as well!

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The Changing Market for Rentals

Even with a host of new rental developments over the last three years, at a time where high construction costs are making developers turn to new condominiums, there is a dwindling supply of rental units in the city right now. Many of the buildings you see are converting to condominium or co-operatives. We lost over a quarter of a million rental units in 2006 to this type of conversion.
Finding adequate housing is tougher than ever due to this alone. Coupled with the increase in population due to new hires, relocations, births, etc., you can see the dilema. Where are we all going to live? There are more new condominiums going up in Manhattan than anywhere in the world except China.

Here is a snapshot of the average current market rents as of today.
Friday, November 30, 2007 - Average Asking Rents

Figures reflect active listings across New York.
Downtown Midtown Uptown UpperMhtn Brooklyn Bronx Queens
Studios $2,548 $2,412 $2,039 $1,242 $1,348 $974 $1,471
One Bed $3,516 $3,716 $2,755 $1,549 $1,927 $1,053 $1,757
Two Beds $5,755 $6,192 $4,663 $2,141 $2,416 $1,538 $2,529
Three Beds $10,756 $11,967 $6,945 $2,455 $3,131 $1,937 $2,940
Four Beds $17,167 $21,792 $11,162 $3,384 $4,102 $1,500 $2,500
Loft (0 Bed) $6,772 $3,540 $3,198 $2,070 $3,000 $4,000
Loft (1 Bed) $6,231 $7,175 $3,409 $1,850 $3,153 $2,137 $3,331
Loft (2 Beds) $9,601 $7,000 $3,700 $3,900 $5,075
Loft (3 Beds& Up)$15,759 $12,373 $3,600 $4,150

Thursday, November 29, 2007

Not the same West End Ave I remember as a kid!

When I was a child, the first strip of land along West End Ave was desolate. I lived in the tiny brownstones now known as West 63rd Street LLC. I was actually in one of the buildings on West 63rd, they wrap around to West 64th and are all the same. It actually is the only place I know of where you can get a three bedroom for under $3K per month south of 96th Street. However, you may not be too thrilled with the quality.

I remember the area as being a whole lot of warehouses and empty parking lots and such back then. Now, you can walk up West End Ave from West 60th and see luxury High Rise rental and condominium buildings all along until you hit the Pre-Wars around 70th Street. Trump developed along what is now known as Riverside Drive Boulevard, a street which didn't exist when I was young.The picture you see on the left side of the home page is actually a show unit for 10 West End Ave designed by O at Home. I wasn't too fond of the furnishings in that particular unit. (No offense Oprah!) The layouts at this condominum are decent, yet they looked too clutterd with the designer's furnishings. It took away from the appeal of being on the higher floors overlooking the Hudson River and also the city's midtown views.

My main impression was this is a great building in terms of overall value for the space and amenities. The area is not for everone, yet.For more pics of the model units and also the buildings blog, visit this link below.

A New York Real Estate of Mind

Welcome to my online, New York, state of mind.

This is a one stop spot to learn about all things New York City and all things relating to Real Estate in this unique city. I have created this as an easy way for you and I to keep up with all the comings and goings in this fast paced city. There will be plenty of useful information available here for both those familiar and new to this city. It's actually helping me as well.

This page will change and grow in the layout and feel weekly as I do, so we'll all grow together.
It will always be offered with a unique and fresh perspective, from a born and bred New Yorker with a sense of humor.

Enjoy the posts, links, and feel free to email me with any questions, any time!
It's all good!