Halstead Property Manhattan Residential Q3 2014 Market Report

•October 12, 2014 • Leave a Comment

The average price for all Manhattan apartments was $1,675,021 in the third quarter, 18% more than a year ago. While this is slightly below the record level of 2014’s first quarter, it is the second highest average price ever. Much this increase over the past year has been due to luxury activity, as the median price rose only 3% during this time to $898,500. Lower inventory combined with rising prices led to fewer sales than a year ago, with reported transfers down 15%.

Resale apartment prices averaged $1,545,875, or 13% more than in 2013’s third quarter. Helped by a record-tying sale, the average resale co-op price was 15% higher than a year ago, at $1,311,093. Prices for previously-owned condos set a new record in the third quarter, reaching $1,952,403.

Apartments in new developments sold for an average of $2,672,066, a 43% jump from the third quarter of 2013. This figure was down from the second quarter of 2014, as luxury closings declined. Downtown south of 14th Street accounted for 24.4% of new development closings in the third quarter, the most of any area. This was helped by a large number of closings at The Jefferson, at 211 East 13th Street.

The full version of the report can be found here

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Superheroes Help Stomp Out Bullying With Halstead’s Ross Ellis

•September 20, 2014 • Leave a Comment

Halstead_Superheroes and Ross Ellis

Superhero greats like Captain America and Spider Man are here to fight the battle of their lives against the meanest villain of all – bully’s.

As of 2014, 1 out of 4 teens are victims of bullying and for every 7 minutes that goes by, a child is bullied on the playground. It is a cause that is near and dear to everyone’s hearts, even Hulk Hogan and Legendary Star-Lord were once afflicted by menacing acts of injustices known as bullying that today, affects millions of students across the country. Needless to say the nationwide fight to end bullying is of the utmost importance, and in support of this universal goal we are proud to share news of another great achievement for our award-winning agent and founder of STOMP Out Bullying, Ross Ellis.

Multiple award-winning non-profit STOMP, the nation’s leading anti-bullying and cyber bullying prevention organization for kids and teens in America and has joined forces with Marvel Comics to spread awareness for the growing epidemic during October, National Bullying Prevention Month. STOMP’s partnership with Walt Disney subsidiary Marvel Comics, one of the world’s leading character-based entertainment companies, will feature a month-long campaign of special edition magazine covers featuring custom designed images that “send a clear message about how our heroes feel about bullying in all its forms.”

Avid superhero comics and kids of all ages may be surprised to learn that Spider Man formerly went by the name of “Punky Parker,” a moniker gifted to him by his snickering teenage classmates before he was able to courageously leap tall buildings in a single bound, and he was not alone. Axel Alonso, Editor in Chief of Marvel Comics states that “the center of Marvel’s storytelling history is the eternal struggle between good and evil, with many of its greatest super heroes having to contend with – and rise above – bullying, in all its forms,” and as STOMP Out Bullying president Ross Ellis said in an interview with TODAY.com, “many comic book superheroes, and particularly those in the Marvel universe, were victims of bullying, felt isolated, and were ridiculed and shunned as kids and teens.” Ellis went on to explain that a team of the most talented artists at Marvel Comics successfully created an arsenal of emotionally charged magazine covers in partnership to spread awareness that October is National Bullying Prevention Month and to,

“convey the message that no matter who you are, you can be a superhero in your own right by standing up and taking action by joining the fight to eradicate the bullying and cyberbullying epidemic.”

In making strides to eradicate the evil perils of bullying, Captain America will grace one cover in a scene that depicts a heroic intervention during a locker-room brawl to represent clear, physical forms of bullying. We are also reminded by Ellis that “bullying transcends all boundaries,” and some of the most cruel and hurtful acts of injustices come in very subtle forms which Marvel demonstrates through another cover that stars Gamora of the Guardians of the Galaxy who befriends a child that is sitting alone on the sidelines watching peers play a joyful game of soccer. While in another, her teammates Rocket Raccoon and Groot join a boy who has been exiled to his own table in the school cafeteria reflecting a scenario that is all too common today, one where it is evident that although “physical bullying results in bumps and bruises, the psychological effects are what really stick with you.”

Additionally, in 2008 STOMP successfully orchestrated the first ever Blue Shirt Day® World Day of Bullying Prevention that enlists kids, teens and adults across the nation to come together and unify in solidarity against bullying. However most importantly, after a month of being in the spotlight hopefully America’s greatest superheroes will have ingrained in our minds that “the power of standing up for others, for being a friend, for having empathy, for being kind to others, for being tolerant, and for having understanding,” is the greatest gift of all.

The Halstead Property family is proud to acknowledge Ross’ commendable humility and generosity and praises Ross for demonstrating such amazing commitment to an even more worthy cause. Not only an award-winning and accomplished agent, among being named one of the Top-Rated Nonprofits for 2012 and 2013 by GreatNonprofits and a top charity by Conscious Magazine, Ross has been honored as 1 of 3 recipients of the Longines Town & Country Award for Women Who Make A Difference. We’re further elated to help spread news that under her direction, STOMP Out Bullying has helped over 8,900 students and has saved an incredible 114 lives over the course of just last year. It’s important to note that albeit such inspiring progress, these numbers are consistently changing on a daily basis thus requiring ongoing continued support from individuals and organizations alike.

Click here to read the entire interview with Ross Ellis on TODAY, and preview the exciting line-up of Marvel Comic magazine covers here.

Visit STOMPoutbullying.org to learn more about how you make a difference by getting involved today, and follow STOMP on Facebook and Twitter for continued updates.

_________________________________

Connect with Ross directly and contact her over email at rellis@halstead.com or visit her agent website to learn more.

Source stompoutbullying.org

The Newest In Home Luxury

•September 1, 2014 • Leave a Comment

According to the Business Insider, Luxury home owners want the most energy-efficient appliances and now they’re even installing foot-massaging floors and lighting synced to their circadian. The new WELL Building Standard has been developed by Paul Scialla, founder of the real-estate company Delos. Although WELL is in its beginning stages, these posh amenities can already be found in CBRE’s headquarters in Los Angeles; LYFE Kitchen, a health-food chain with locations in Chicago and California; Las Vegas’ MGM Grand; and downtown L.A.’s forthcoming mixed-use development, The Bloc. The program’s crowning glory is Manhattan’s 66 East 11th Street, a residence that opened this summer whose units range from $14.5 to $50M.

The WELL Building Standard includes:

1. A particle-and-carbon-removal system, built into the central A/C, eliminating allergens, toxins, pathogens, and pollen, while UV sanitizers sterilize harmful particles that make it into the O2 circulating through your pad.

2. Soundproof Sheetrock walls and double-glazed windows block noise from even the busiest streets and loudest neighbors, while cork-and-rubber sound-damping floor underlays and all-natural foam insulation help keep the peace inside.

3. Circadian-Rhythm Lighting Overexposure to static light (which is what’s in most interiors) throws our circadian rhythms out of whack and drastically reduces melatonin (the sleep hormone) levels. These lighting systems can be tailored to the occupant’s sleep habits and—coupled with a dawn-simulating nighttime blackout-shading system—gradually brighten or darken to help you doze off and rise naturally.

4. Vitamin C–Infused Showers The nutrient does wonders for hair and skin, and after 15 minutes under a tricked-out faucet, you’ll be drenched in it.

5. Light-Therapy Mirror Perform your morning grooming ritual basking in waves of blue light (similar to those emitted by an iPad). Colors at this “temperature” slow the melatonin flow that started at night and boost attention, reaction times, and mood—making you more alert.

6. Reflexological Tiling Heated Carrara-marble flooring in the bathroom delivers a mini-rubdown with every step; the raised tiles can be arranged in patterns modeled after foot-reflexology maps.

7. Steam Oven A reservoir boils water, generating a low-temperature cloud of steam heat (more intense than electric heat) that covers food instantly. The resulting rapid cooking preserves the fiber, color, and flavor of produce, as well as B vitamins . . . vitamin C, calcium . . . and zinc.

8. Germ-Free Countertops Single-slab quartzite countertops are treated with a photocatalytic coating (an invisible layer of titanium oxide that can be applied to any high-touch surface—faucets, light switches) that destroys chemicals, killing odors and bacteria. With no gaps between slabs of marble for micro organisms to settle, your clean-eating habit is that much cleaner.

NYC Restaurant Week Summer 2104 — It’s back!

•July 21, 2014 • Leave a Comment

seafood

It’s that time of year again! NYC Restaurant Week Summer 2014 is here and filled with the BEST restaurant offerings from July 21st to August 15th!

If you live in Manhattan you already know about NY Restaurant Week. If you’re new to Manhattan or thinking about moving to this great city, New York Restaurant Week is definitely something you want to know about!

Every year, twice a year, New Yorkers and those visiting Manhattan get the opportunity to dine in some of the “BEST of the BEST” restaurants for a three course prix-fixe lunch at the amazing price of $25.00 or a three course prix-fixe dinner for $38.00 (plus tax and gratuity — but still an incredible bargain!)

New York City Restaurant Week Summer 2014 to view restaurants and make reservations visit nycgo.com/restaurant week

If you’re thinking of moving to Manhattan, it’s not only a great way to try out our incredible restaurants, but it will help you relax over a sumptuous meal after browsing apartments all day to decide where you want to live.

NYC Restaurant Week Tips:
Research – Get recommendations from friends and search the Internet for ratings. Most of the participating restaurants are the best that New York has to offer.

Reservations should be made in advance. DO Reserve Early – Normally, getting a reservation at these restaurants is difficult. Plan ahead. Reservations early in the week are usually easier than Thursdays or Fridays. Call to see if there were any cancellations as well.

Dress Code – When dining in New York’s best restaurants, dress your best.

Tip Higher – Tipping more than 20% will get you first-class service that New Yorkers expect from these top restaurants.

Click here to learn more and make reservations!

Most of all — ENJOY!!!.

Halstead Property 2Q14 Residential Manhattan Market Report

•July 1, 2014 • Leave a Comment

 

Halstead Property has just issued its 2Q14 Residential Manhattan Market Report showing that Manhattan apartment prices averaged $1.7 million in the second quarter, virtually unchanged from the first quarter’s record level, and 19% higher than a year ago.

Prices were kept elevated by a booming new development market, which posted a record average price of just under $3.5 million, combined with a record co-op sale and low inventory. The number of reported sales was 9% higher than a year ago.

The median price, which measures the middle of the market, fell 1% from the first quarter of 2014, but was 5% above 2013’s second quarter. This shows that most of the increase in the average price is due to the high end, as the middle of the market is rising at a much slower pace.

The most telling statistic on the strength of the luxury market is that at the time of our report, 45 closings over $10 million had been recorded. During the same time period in 2013, there were just 16, a 181% increase.

All sizes of co-ops saw their average price rise compared to 2013’s second quarter, led by a 26% gain in three-bedroom and larger units. Overall, the average co-op price of $1,240,747 was a 12% improvement from the second quarter of 2013. The average condo price of $2,283,151 was slightly below last quarter’s record level, but 26% higher than a year ago. New developments, such as One57-which had 4 closings over $30 million-pushed the average price 47% over the past year for three-bedroom and larger condos.

The full version of the report is available at the link below:

http://media.halstead.com/pdf/Halstead_QuarterlyReport_2Q14.pdf

www.twitter.com/NY_RealEstate

Empty Nesters are making the move to Manhattan

•June 15, 2014 • Leave a Comment

ImageThe kids are grown and living on their own. Empty nester parents are rambling around their large homes or apartments with space they no longer need and starting to think about their next phase in life. More and more are thinking of spending that next phase by unloading their large family homes in favor of spending their ‘empty nest’ years enjoying their newfound freedom.

According to AARP, for the next 18 years, baby boomers will be turning 65 at a rate of about 8,000 a day.

The Baby Boomer Generation is the largest age group of our population. They are either retired or about to retire, which means they are downsizing and looking to purchase new homes that meet the needs in their new lifestyles.

They are a wealthy generation who worked hard and saved well. Their retirement funds are strong and they have money to spend on downsizing into these new homes.

Location is an important factor. Many are making that move into Manhattan where they are in the middle of everything and have easy access to restaurants, culture, shopping and everything else New York City has to offer within walking distance.

This generation wants their space to feel contained, but manageable.  While some Boomers find older buildings offering more space appeal, others are attracted to new developments.

Many Boomers want to sell their homes and consider making a move now.

And for the single empty nesters, Manhattan offers so much. The convenience of living in the city has a huge appeal for older buyers.

And there are many advantages to downsizing. Smaller homes translate into less monthly expenses and a lifestyle upgrade.

An added bonus is less stuff. Manhattan professional organizing company Donna David & Co works with many empty nesters in downsizing and says “save the best and toss the rest” allowing Boomers to keep the sentiment and let go of things they no longer need.

For some empty nesters already living in Manhattan, they’re supersizing the empty nest. Some upsize and upgrade while some opt for less space in the city. 

An Upper West Side couple gained 600 square feet when they moved into a 2,100 square foot apartment when they bought the apartment next door to them and combined units when their daughter left for college. After a complete gut renovation they have a family room and an extra bedroom and bath.

Those looking for larger living spaces are thinking about a future that includes living space to accommodate grandchildren.

Some buyers may want an apartment with amenities that they dreamt of but didn’t find practical when raising their families.

As a real estate agent in Manhattan, the best advice: visit the various neighborhoods in Manhattan. See what works for you and your lifestyle.  Hire an agent whom you trust – someone who knows the market.

The next phase of your life could be an amazing one in Manhattan!

For a no-charge consultation feel free to contact Ross Ellis, at Halstead Property.
Twitter @NY_RealEstate

 

Progress On The Second Avenue Subway

•June 12, 2014 • Leave a Comment

According to the MTA, the long awaited ‘T’ line is almost here. The site of that big white box on 2nd Avenue and 70th Street will soon be history, as early as December 2016.

See the MTA’s Video

The Second Avenue Subway will reduce overcrowding and delays on the Lexington Avenue line, improving travel for both city and suburban commuters, and provide better access to mass transit for residents of the far East Side of Manhattan. The line is being built in phases; the first phase of the Second Avenue Subway will provide service from 96th St. to 63rd St. as an extension of the Q train.

Different from the subways past design there will be many high-tech upgrades.

The first phase will be completed in December, 2016 and will serve approximately 200,000 daily riders. It will decrease crowding on the Lexington Avenue Line by as much as 13%, or 23,500 fewer riders on an average weekday; and travel time will be reduced by 10 minutes or more for many riders traveling from the Upper East Side

The MTA has officially opened its new Second Avenue Subway Community Information Center (CIC) at 1628 Second Avenue (between 84th & 85th Streets). A first-of-its-kind facility, the CIC will offer rotating exhibits and programming about the history and construction of the Second Avenue Subway. The center will serve as a one-stop shop where Second Avenue residents, businesses, stakeholders and the general public can ask questions, learn more about the Second Avenue Subway construction project and bring issues of concern to the project staff.

Once the “T” line is completed, it will not look anything like our current subway system. Many will be surprised to see no more dark and dingy subway tunnels. Instead you’ll see steep, modern escalators like the transit in London or Washington D.C.

In all, 16 new stations will be built, serving communities in Harlem, the Upper East Side, East Midtown, Gramercy Park, East Village, the Lower East Side, Chinatown and Lower Manhattan. The new stations will also provide transfers to other subway and commuter rail lines.

It seems all the new subway projects are reaching record depths. The 7-extension and the new East Side Access will operate at 8 and 14 stories below street level, respectively. And it will run on two tracks.

Finally, those who use canes or crutches and for New York’s fashionable high-heeled women –there will be fewer obstacles as there are no grates. Nor will there be the subway order we now smell through the grates.

And no more feeling sticky and fanning yourself in those dog days of summer as all 16 stations along the ‘T’ line will be climate controlled for maximum comfort, with convenient elevator and escalator access, including access for the disabled.

According to the Real Deal, East Side property owners East of 3rd Avenue will see their property values increase. They report that home values east of 3rd Avenue rose 11.4% in the past year vs. 10.4% for the East Side as a whole — showing that homes along 2nd Avenue are becoming more competitive with those closer to Lexington. As opening draws nearer, expect this boost to increase.

This past February, the Real Deal reported that a four-story, 50-foot-wide building at 1804-06 Second Avenue and 93rd Street that sold for $5.8 million two years ago is now predicted to nab nearly triple that price. Several new construction projects have recently been unveiled, and condominium rates along the avenue jumped in 2013 for the first time in four years.

While the MTA forecasts still point to a December 2016 completion date, a recent MTA study projects a more realistic Summer 2017 opening. Optimism shows there will be at the end of this tunnel.

For an interactive view of the full project profile click here

 
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