Category: Real Estate (page 1 of 4)

Making the Most of a NYC Studio Apartment

New York City is known for a lot of things, one of them being its real estate. While many people dream of someday living in a spacious New York City apartment, a lot of those living in a city are confined to small one-bedroom or studio apartments. It can feel a bit cramped, but with these tips, you can make the most of your NYC studio apartment.

Clever Storage

The best way to ruin the layout of a tiny apartment is by having all your belongings out in the open. To give the apartment a clean and open appearance, find ways to store your belongings away. Every piece of furniture is a storage opportunity such as a bedside bureau, a side table with shelves or a drawer, or a lidded ottoman

The Mirror Trick

Making tiny apartments feel bigger can be tough, but there is a super easy trick you can try. Especially is your space is lacking natural light, decorate your apartment with mirrors. Setting up a mirror helps bounce light around, creates depth, and makes the room look bigger than it really is. 

A Stylish Dresser

To add style and sophistication to your small space, invest in a good dresser. In a studio, the dresser can be utilized in many different ways. The top of the dresser can be used as a dressing table, a makeshift kitchen table, of a place to add some decoration. A dresser can easily become the focal part of your studio, so make it count!

Furniture to the Wall

Another great way to keep the space open is by keeping furniture against the wall. Furniture in a small space can easily block out the natural light and make it appear to be even smaller. Pieces such as couches, dressers, bookshelves, nightstands, and other pieces should also be kept partially open to create expansiveness in your studio by leaving room for white space.

Historic House Museums in NYC

Across New York City, there are dozens of historical buildings and history on nearly every corner. However, there are little-known house museums, 23 in total, spread across the city. They are all run by a non-profit group, the Historic House Trust, which aims to preserve the richness of the past to educate the present and future generations of those who choose to visit. Here are some of the top houses to visit on your next trip to the big apple.

Merchant’s House Museum

As one of the first individual buildings to be designated an official landmark, this home is steeped in history. It features a gorgeous facade, many items from the late 1800s, and offers a rare glimpse into domestic life during the 19th century. You might want to book your tour in advance for this popular house!

Gracie Mansion

If you want to see how the wealthy once lived along the East River, look no further. Built by a merchant, Archibald Gracie in 1799, this house is the only one of its kind left along the river. After the rich owners left, it once was used as an ice cream stand for the surrounding park, but upgraded its standing by becoming the home to the mayor in 1942. 

Morris-Jumel Mansion Museum

Built in 1765 as a retreat for a wealthy couple, this home has seen quite a few changes. From host to fashionable parties, to being seized by the Continental Army to serve as the headquarters for George Washington, to becoming the extravagant home of a French wine merchant, this mansion was finally opened to the public in 1904 as a museum and features items from each of its transitional periods. 

Blending Traditional and Modern: New York City Real Estate Architecture

When you think “New York City architecture”, you probably immediately picture towering skyscrapers that reign over the city with all glass windows. You aren’t wrong, but if you look closer you’ll start to see several addresses transforming their facades in a new and exciting way. More and more architects are reimagining what buildings throughout NYC should look like. Many real estate addresses are taking a blended approach, giving a nod to the past while bringing the building into the future. Here are five of these innovative buildings you can search for the next time you find yourself in the Big Apple. 

Prospect Leffert Gardens, Brooklyn

This 467-unit luxury rental building still boasts a glass facade, but incorporates brownstone-esque bay windows, precast concrete, and a chevron pattern to give homage to the surrounding architecture. The result is a stunningly unique place to live in Brooklyn if you’re looking for something both modern and traditional.

Oskar, Hell’s Kitchen, Manhattan

This luxury rental fuses modern glass and shapes with old-school masonry. The building features a rounded glass form but incorporates the traditional with white terracotta wrapped around the facade. While it blends well within its surroundings, its impressive fusion of modern and traditional elements set it apart, making it a unique find within New York’s real estate market. 

11 Hancock, Harlem, Manhattan

This building, by far, has the most powerfully modern shape, but the traditional aspects are certainly there to make it stand out above the rest. The 12-story cantilevered structure offsets its modern shape by combining glas, steel, brick, and burnished copper, all paying tribute to different eras of construction in the city. 

40 Bleecker, NoHo, Manhattan

Manhattan has no shortages of condos, but not all condos are made equally. This 12-story building sits in a landmark-rich neighborhood. The architects wanted to do something different but not so different the building would stand out as an eye sore. This address features a brick and metal facade with punched-glass window openings to give homage to the pre-war buildings that dominate the area. 

4 Reasons to Live in NYC

If you’re looking for a new city to move to, you should be considering New York City. There are many reasons that 8.6 million people have chosen to call this great city home. In addition to our world-class museums and entertainment, here are four reasons to live in NYC.

 

1.  NYC is where many great things begin.

If you enjoy being in the “center of the action” or being the first to experience new things, NYC is the place to be. Many great new things start in New York City, including technology, architecture, and music. 

 

2. You can be “green” in NYC.

When you live in New York City, you can opt-out of driving a car. Instead, you can choose to walk to many destinations or, if you have a longer commute, the subway is always an option. Furthermore, an increasing number of apartment complexes are also now composting and recycling. You’ll also find that most places to live in NYC require less energy due to the vertical nature of the buildings. 

 

3. NYC is full of history.

Whether or not you are a history buff, it’s hard not to enjoy the history around NYC. The city’s architecture is full of rich history. Some of the most famous buildings, statues, and monuments are here. New York City is also often the center of “history in the making.” An example is the super tall buildings that are breaking records and will transform the skyline by 2022.

 

4. Nowhere else has the same amount of diversity or variety.

New York City is one of the most (if not the most) diverse cities in the world. Here you can find people of every culture in the world. As a result, you’ll also find restaurants and other bits of culture from across our planet.

Moving Tips If You’re Coming to NYC from Out of Town

Moving itself is a hassle, but moving to New York City presents a set of unique challenges, especially if you and your moving company are unfamiliar with the, ahem, quirks of the city. To ease your transition, be sure to brief your movers on the conditions they might experience, such as the lack of parking, tight spaces, and other issues that might arise. Prepared movers are better movers, and if your mind is drawing a blank, here are a few tips on what to discuss with your mover if you are coming from out of town. What you (and your movers) don’t know can end up costing you extra. 

 

Big Trucks Won’t Fit

Most of the time, you won’t be able to bring an 18-wheeler into the city. Some companies will drive a truck to the outskirts of the city before transferring to a smaller truck to shuttle into the five boroughs. Be aware though: you’ll be charged what’s known as a “shuttle fee” and should be sure to have that included in your quote. 

 

Certifications and Insurance

Most elevator buildings in Manhattan require proof of insurance from the hired moving company prior to authorization to work in the building. As such, out-of-state moving companies will likely be blocked from doing the drop off at the building. If your moving company is from out of state, you may need to look for an additional moving company that has the needed requirements. 

 

Tight Spaces

New York City moves are notorious for their narrow hallways and tight stairways. As Lior Rachmany, CEO and founder of Dumbo Moving + Storage, puts it, “Only the best of movers can move in New York.” Make sure that your movers have experience with these kinds of spaces. More often than not, it will be necessary to disassemble furniture prior to moving. Be sure to discuss what happens to the furniture before it gets loaded on the truck.  

How New York’s New Rent Laws Will Affect Real Estate

Tenant protection laws were first introduced to New York City in 1920. The country was recovering from World War I and many landlords were raising rents monthly due to a housing shortage. 

Just this month, landlords and legislators are having similar conversations about New York’s rent laws. On June 14, 2019, New York State and Assembly leaders passed new laws to protect tenants by controlling rent in New York. In light of the new law, landlords will have limited ability to raise rents, even if renovate their buildings or apartment complexes. Landlords can also no longer be able to raise rents due to vacancies or deregulate apartments.

So what does this mean for NYC real estate? 

The new laws have shocked New York’s real estate investors. Some landlords and investors are concerned that they will not be able to cover the costs of maintaining buildings without the ability to raise the rent. This leads to concerns that property values will decrease and many landlords will choose to sell. 

Some people, however, are seeing opportunity in the new market. Some property owners who will now struggle to stay afloat will be looking to sell quickly and likely for lower prices than they would have otherwise. Furthermore, the newly passed laws are expected to cause foreclosures, which lower property values. Investors who are able to take advantage of the lower prices for property may be in luck. 

The long-term effects of these new laws have yet to be seen. While it’s likely that some investors will suffer as a result of the new restrictions, others may flourish. Many have theorized on the potential outcomes, but it will take time before the consequences come to fruition. In other words, “only time will tell.”

Whisper Listings in New York

If you haven’t heard about whisper listings, that’s exactly what the marketing genius who came up with the idea wanted. They’re properties that are shrouded in mystery on purpose. Curious house-hunters are drawn to the intrigue around them. They’re becoming the new gateways to some of the best-kept secrets in California and New York real estate. Buyers enjoy the privilege of being able to see penthouses, lofts, and estates that are on the market discreetly.

Sellers enjoy the enhanced desirability that being whisper listed creates. It’s not an entirely strategic tactic. Not everyone who has a multi-million dollar home for sale wants that information to go public. Being able to sell the property of higher than average value out of the eye of the press and public is attractive to affluent public figures who don’t want to fall prey to a new rise in negative perceptions about being wealthy. Others simply seek privacy from gossip tabloids and cameras.

The real estate sector is always looking for new ways to build drama around listings. Observers have noticed that properties handled this way don’t sell if they don’t live up to the hype, however. Buyers expect to discover something they wouldn’t find otherwise. Whisper listings do add intrigue but not to the extent that they’re automatically fast sales.

The concept of keeping information private on a specific property, as opposed to aggressively advertising it, is such a winning strategy that a new portal has recently launched. This portal was built and dedicated to promoting the latest whisper listings  One important tip is to understand that the luxury real estate featured on the site will be exclusive. This means that its target market will be high net-worth individuals. While the site idea may seem like a new gimmick to boost the sales of real estate that has slowed down in recent years and can be difficult to sell, Parish Pradhan, the former Keller Williams agent behind it believes that having access to a portal of off-market listings is going to help those shopping for property to sidestep the bidding process and ultimately spend less.

 

Tips for Millennials When Saving for a Home in NYC

The cost of housing may be going up, but millennials could account for 43 percent of property buyers in the United States over the next several months. If you are a part of this demographic and you plan to buy a home in New York City soon, here are some tips that will help you save for your big purchase.

Keep an Open Mind

New York is one of the most expensive places to live, so you might not have as many options as you think you do. Instead of accepting nothing less than a posh Manhattan apartment, be prepared to look at other places that might be more affordable. It’s a great way to keep your options open, even if you ultimately don’t end up where you originally planned to live.

Consult a Mortgage Expert

Before you start shopping around for homes, speak to a mortgage expert to determine what you can afford for a down payment and your future mortgage payments. That will give you a better idea of what you should be looking for.

Stay in One Place or Downsize

Since it costs so much to live in even a small New York apartment, you might need to spend a couple of years saving money. To make this easier, either remain in the home you are in now or downsize. If you won’t have to spend the extra money you make on living expenses, you can set that aside for the kind of home you really want.

Be Patient

Even though we did say that you should keep an open mind and be prepared to look at homes outside of where you originally planned to live, there’s nothing wrong with being patient and waiting for something you love to open up. Buying a home is a long process, especially when you want to live in a place as expensive as New York City. It will take time to save up enough money and be approved for a loan anyway. You can wait a little bit longer for the perfect home to become available.

2019 NYC Housing Predictions: What to Expect Next Year

The bumpy sales market that took place in 2018 has been a turbulent time for New York City real estate. Luxury prices have continued to sink, and transportation headaches have played a big role in driving market dynamics. Given that the housing market looks different than it did a year ago, here are six broader trends we see dominating 2019.

 

The Buyers Market is Staying

 

The number of homes listed for sale hit all-time highs during 2018, yet recorded sales throughout the city fell. More New Yorkers – seeking to accommodate a growing family, to relocate, or simply to cash out their investment – will inevitably look to sell in 2019, adding to a market that’s already saturated. These sellers will need to take much greater measures to move their homes.

 

Queens is the exception

 

The big outlier in the sales market in 2018 was Queens. Prices there have risen at a consistently faster pace than in Brooklyn or Manhatten, yet remain relatively affordable, with an average listing price of $657,000, compared to Manhatten’s $1.39 million and Brooklyn’s $950,000. Much of the enduring price growth in the borough is attributable to making up for lost time.

 

Downtown is the New Downtown

 

With interest rates and sales prices high, renting will remain more attractive than buying for many New Yorkers in 2019. We expect competition for rental units in many of the city’s priciest, most central neighborhoods to heat up next summer. Rents in newly chic neighborhoods in outer-boroughs now equal in many Manhattan neighborhoods. This past fall, median rents for 1-bedroom apartments in Dumbo, Downtown Brooklyn, and Long Island City exceeded those in Chelsea, Nolita, and the East Village, respectively. Outer-borough new construction may still offer more per dollar in terms of space and amenities, but with roughly similar median prices in many outer-borough and Manhattan neighborhoods, choosing among them has become a matter of preference than affordability.

 

Bedlam on Bedford Avenue

The popular commuting line, the L train, will shut down for 18 months beginning April 27. The market for nearby rentals has been weakening over the course of 2018, as longtime residents decamp for more convenient neighborhoods. Nonetheless, people still have a lot of interest in the neighborhood.

Top 5 Neighborhoods to Raise a Family in NYC

New York City is one of the best locations for raising a family. NYC is diverse, exciting, and full of unique activities for both you and your kids.The city is composed of a wide selection of neighborhoods, including the family-friendly options listed below.

Astoria, Queens

Astoria is one of many great options! The neighborhood offers some of the best schools in the city that are both progressive and affordable. You’ll have access to a wide variety of public parks and playgrounds, as well as a great library system. One of the other great perks of living in Astoria is the Astoria Park, which includes a public pool.

Bay Ridge, Brooklyn

Bay Ridge is a historical neighborhood that’s a cornerstone of Brooklyn. The area is family friendly, and inclusive of people of all ages and cultures. Renting or purchasing property in Bay Ridge is almost half the cost of renting or buying property in the rest of the borough. The neighborhood also includes great schools, and plenty of parks so your children can play in green spaces.

Harlem

One of the best advantages of living in Harlem is larger apartment options for inexpensive prices. Not only does the area offer an easy downtown commute for parents, but it offers plenty of activities for children. The nearby Riverbank State Park hosts classes in art, music, sports, and dance. The  Apollo Theater and the Sugar Hill Children’s Museum of Art and Storytelling are two other great kid-friendly entertainment options.

Upper West Side, Manhattan

The Upper West Side is home to some of the best schools in the city, and is conveniently located near Central Park so your children will have plenty of room to roam! They’ll also have access to some of the best museums in the world, such as the American Museum of Natural History. The Riverside Park is another attraction that includes playgrounds and historical monuments.

Battery Park City

Located near the financial district, Battery Park City is a sleek yet bustling community and the location of two of NYC’s best schools, PS 276 and Stuyvesant High School. The Battery Park Esplanade, a beautiful road along the river, is a great place to take your kids for a walk or bike ride. There are also a variety of parks, many of which are also dog-friendly, and baseball fields.

Any of these neighborhoods is a great option for you and your family. New York City is one of the most unique and famous cities in the world. Your children will be lucky to grow up there!