NYC Restaurant Week Summer 2104 — It’s back!

•July 21, 2014 • Leave a Comment


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 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:

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


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