Irving Place Penthouse Duplex...

A rare chance at history and serenity in the midst of it all!

Stretched over 27 vertical feet of the top two floors of this prime Gramercy Park co-op, the opportunity to create a townhouse in the sky beckons. Plans are in place to create a dramatic duplex residence with 3-bedrooms, 2-baths and 2-half-baths. In addition, the proposed floorplan includes a sweeping floating staircase, new fenestration, a laundry room and abundant closet space.

The plan retains the home's two existing wood-burning fireplaces, which imbue the living room and master bedroom suite with warmth and ambience. The solarium and terrace with panoramic city and park views on the upper floor will also remain intact. Dramatic in any incarnation, the architectural plans included in the sale capitalize on the space's three exposures and uncommonly grand ceiling heights, but can easily be customized to suit the most exacting tastes. This is a rare opportunity to create a thoroughly unique space within one of Manhattan's most coveted addresses.

Bask in the renderings and floor plan and contemplate what awaits...

A penthouse oasis in SoHo NYC

Of course I am here to keep you drooling with anticipation. So today we will get a sneak peak at one of the most unique penthouses in the entire city right now. This is a rarity in that it is a doorman elevator building with all amenities, but the apartment itself has more outdoor space than many apartments in town. This is an amazing property unlike anything else in the world. There are great loft spaces, townhouses, towns, even islands and such to purchase across the globe. To secure a penthouse of these proportions, in the heart of the city many refer to as the center of the universe, in central Tribeca no less, is monumental. This is over 7000 sf of space within and 4000 sf of PRIVATE outdoor space. The full service building is made by the same Architect of the famed Dakota and the internationally acclaimed Plaza. The building also offers a gym and business conference center. The home is unmistakably unique as it offers a private glass enclosed penthouse designed by Alan Ritchie. There is a massive living room, dining room and BILLIARDS room that all spill out onto the private 35ft rooftop pool for this home. There is a fully stocked caterer’s kitchen with sub-zero wine fridge for up to 300 bottles. This is a property that will make the world sit up and not only take notice, but give you a standing ovation and demand an encore!!! I have seen $125K/mth rentals and $16M penthouse apartments. This one takes the cake for sure!

As always, stay tuned for more mind blowing spaces in NYC!

Denise Rich's Fifth Ave Penthouse

There are many properties in the world. Few have the decadence and opulence of this magnificently designed place on Fifth Avenue here in Manhattan.

Brooklyn's Finest

So you want to be near the city, but don't want all of the congestion and drama? Do you need more space and the feeling of a real neighborhood? Are there not enough trees on Park Avenue for your tastes? This is the best of Brooklyn.

There are many places and then there are exceptional spaces. This is indeed quite an exceptional space. Situated on scenic Hicks Street just steps from the Brooklyn Promenade, this is a rare opportunity for one of the entire city's best neighborhoods and a fantastic amount of space.

This is where Park Avenue meets Brooklyn Heights. There are magical river views from the fifty foot long loft style Living Room. You are located in Brooklyn Heights premier Co-op residence. Of course there is a 24-hour manned elevator in beautiful prewar building steps from Montague Street. The owners have spared no expense renovating this three bedroom, three bathroom home complete with wood burning fireplace. The kitchen is totally state of the art with the finest of finishes throughout.

Please inquire for pricing or for a viewing with at least 24 hours notice.

Rookie or Veteran?

You are here looking for a home. You call or email about a specific place that's the DREAM home on the perfect tree lined street, only to not get an address, hear that it's rented or if you are lucky, get taken to a box facing a brick wall.

This is the most in demand market to find a home and the busiest time of year for rentals is approaching fast. The vacancy rate is under 1% again. To put that it in perspective, for every one building with 100 apartments in it, you MAY be able to sublet a room from someone within.

To move is an important decision. Likely one of the more important ones you are likely to make in the next three to four years. To do this and not choose wisely the target of attack is like throwing dice against a wall. Is that really how to chose a home?

There are over 27,000 licensed real estate salespersons in this city. Each year there are about 10,000 transactions. The amount of new agents that actually last in this business is less than 10%. This brings to mind an interesting question.

Would you buy a car from a pizza-maker? Get a haircut from your bank teller?

That's the likely result when you put your trust in an inexperienced agent. He/She will likey be in another industry when you are looking to purchase in two or three years IF that agent can even find you and secure the right place.

If that's what you want to spend your time doing, then you can do that without a broker and save the fee if you are able to find a place. This is not the time of year to risk losing the perfect place because someone wants to show you what they want you to see and not take you to what you are telling them you want.

A broker earns the fee for much more than just how many places they show you. A good broker earns the fee for showing you less places that are ALL viable options based off of your needs. There is no way that a rookie can do this without the proper inventory knowledge. There are many managements, co-op/condo owners and developers to choose from. Too many apartments to list that turn over before they can even be listed during this time of year.

The essential functions when using a broker for a rental are to save you time in the initial search, securing the apartment by having the neccessary documentation, saving money over the course of the initial year or two by finding that gem that is NOT available to the public and PERHAPS a below market rent. This is among the many other hats (pun not intended if you know me) we wear. (Board package and interview preparation, relationships with owners/landlords/supers/porters, knowledge of areas for those relocating and other networking possibilities).

Take time to really think about your search for a home and remain open minded about the possiblities. This city is a cornucopia of experiences for you to delve into. Make sure that you are not being led by someone with no sense of the realities in this marketplace.

Priced out of Downtown? Here are the best options in the boroughs

I know that everyone comes here to live in Manhattan here. But what do people who live here do when the landlord raises the rent to an amount that you just can't afford anymore? For those that are new to the city and the market reality of the prices and space here has just smacked you in the face, I have some areas that you will want to consider.

Williamsburg
This is the first place people mention when considering going away from the traditional areas on Manhattan to live. It's hipster vibe, trendy shops and cafes make people gush for days. I lived here for a year and it was decent. There is almost too much to do along Bedford Ave. Cool bars, great restaurants and McCarren park are the pluses of the neighborhood. The subway access if you are close to the L train and no further than Lorimer is actually superb. The problem is that rents here are starting to mirror Manhattan places now that it is a known hot spot.
http://newyork.timeout.com/section/williamsburg

Harlem
This was once an area that people feared. With a huge expanse by Columbia, Bill Clinton coming to town and the lack of acreage on Manhattan Island as a whole, this area is enjoying a new Harlem Renaissance. The rents here are lower than areas below 96th street (but hurry, because they are rising), the commute downtown is not that bad (try to get a spot near an express train) and the food and shopping options are plenty. Your getting the Manhattan zip code, but if you are smart, can pay borough prices. The trade off is less drunk frat kids stumbling around the streets for EVERYBODY hanging out on the streets. From Grandma's and Grandpa's to young children staying out way past their bedtime, this area of NYC is super diverse and becoming more and more gentrified by the week.
http://newyork.timeout.com/section/harlem

Astoria
I have stayed here off and on at times. My father lived here when I was young. This is a great area that looks close on the map to Manhattan, but if you are not right by the subway, it can be a bit of a trek on the late night. The area is becoming trendy and so the prices are nearing Manhattan prices, though you MAY have more flexibility in terms of requirements and negotiating a deal. MAY is the operative word. Dining options are mostly Greek as there is a heavy Greek population in the area. This is the first destination for most when considering the outer boroughs.
http://newyork.timeout.com/section/harlem

Jackson Heights
This area is a hidden jewel of the boroughs. If you don't know, now you know. This is a great area for keeping the costs down. This is a diverse area in Queens with great subway access if you can get a place in the 70's to 80's and not too many avenues away from Roosevelt Ave. In some ways, it can actually be a shorter commute than Astoria if you work it out the right way. I lived here for over five years and loved it. Great food, cheaper prices than Manhattan or Astoria and only a 30 minute commute to Manhattan max.
http://newyork.timeout.com/section/jackson-heights

Park Slope
After Williamsburg, this is usually the next place on peoples map when considering BK. The Brooklyn Heights area is always first on the list, but with it's superior subway access and closer to Manhattan than parts of Manhattan location, it is the one area of the city that is truly across the river with city prices. So heads turn to Park Slop as the next viable choice. There is a great neighborhood feel, great school systems for those families with or having children. Good dining options and a short trip to the city make this a solid value.
http://newyork.timeout.com/section/park-slope

That's the five top areas that people consider when leaving the traditional areas of the Upper West or East sides, midtown to downtown. I have one more bonus area that is perhaps the best jewel in all of the boroughs. The mainstream writers haven't caught up to this old school native yet though. To find out about that one, you will have to go with me ;-)

The Fall of the Wall?

Here in NYC, we live in a housing market that already has low supply and high demand. Thereforre the rents are above average when compared to the rest of the country. To offset this and find a way to reap the benefits of living in Manhattan, many renters when looking for doorman buildings, have resorted to putting up temporary pressurized walls to create second or third bedrooms. This makes a $3500 one bedroom now affordable for two young professionals who can really only afford $1700 per month in rent.

This will soon be a thing of the past. This year, many landlords are no longer allowing walls to be erected and many are even going so far as to having existing walls removed. What many are being told, which is in compliance with a Department of Buildings code, is that they can only put up a partition or shelving unit which results in obviously, less privacy. The effect of this is massive, as many new tenants in the city rely on doorman buildings for the obvious benefits of security, as well as the convenience of on site staff for everything from repairs to package/dry cleaning reception. Few are the new hires who can come right out of college and afford a $3500 one bedroom at 40 times the monthly rent on thier own.

Many renters are now being forced to consider other areas of the city such as Washington Heights, Harlem, Long Island City and Brooklyn in order to get the same luxury at a more affordable price. The old "boundaries" of what was once deemed a safe area to live are being pushed further and further outwards and upwards with each week.

Rents are rising in Manhattan again!

I have watched the markets around the country plummet and not yet recover over the past six years. Here in Manhattan, that is just simply not the case. There is such an unbalanced set of supply and demand here that you can not imagine until you have lived here.

There are more people than there are apartments to rent. I got a client this weekend who called me on a three bedroom uptown. Upon talking to her I realized that she was actually trying to find enough space for FIVE people to share for under $3000! There are serious gaps in peoples perceptions of the market here.

Take a look at these statistics.
http://www.cityrealty.com/new-york-city-real-estate/carters-view/

The link above is great if you are thinking of moving into an apartment in Manhattan. I am quite sure many people feel that they can try to do it on their own without a broker. Do realize that it is possible, but you will have a long winding road. Even with a broker it is tough if he or she has no relationships or even worse, a bad one with the managing agents or landlords. There is very little time for the good apartments to be viewed and secured in this current market state. You must be pro-active and not reactive when trying to find a place during this time of year. There is only going to be less to choose from with each day and many young agents don't realize the cycle of turnaround.

I hope that these facts are helpful in your securing a new home. If you need any help, I am here to guide you home!

RENTAL ALERT!!! Vacancy rates below 1% again!

After a much needed respite, I am back!

This is a busy season as within seconds of posting an ad, I proceed to get calls for twelve hours straight from 11:30AM-11:30PM yesterday. There are tons of people looking and not much selection. There is also very little time to deliberate as I have been showing in groups. If you don't want it, there are four more people lined up outside who will take it.

The rents are rising and the landlords are not offering concessions as much as they were in the past years. This is the time to find a good broker and go out looking during the week. You will maximize your chance of viewing the right place and securing it. Viewing on the weekend can leave you applying for an apartment only to find out that someoone else is signing leases on it that Monday.

Many of my clients can attest, that you will be glad to pay the fee for a lower monthly rent. Anything that is offered as a "no fee" during this time of year, is something that you are really just paying the fee back to the landlord in the form of a higher monthly rent.