Volume 16: Issue 6 | Junel 2016
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With summer finally here we direct your attention to one of the most important commodities here in NYC - the sidewalk cafe. Perhaps the best location in the city to peruse and choose a street side cafe in on the Upper West Side. We just happen to have brand new listing there on West 72nd Street (see below), a beautiful, fully renovated on-bedroom in a stylish pre-war coop that is just a short walk to Amsterdam and Columbus in the 70s. This is arguably the home of the sidewalk cafe. If you are looking for other options, we have treat. Below is the NYCs very own guide to every sidewalk cafe available. Did you know there are 146. Who knew!?!

Its the perfect to time to get out and enjoy the great weather and all that the city has to offer on the Upper West Side including Pier 1 and Riverside Park not to mention Central Park. Take a look below at some great RSD options. 

Since 1981, Corcoran has tracked sales and market activity in Manhattan. Our reports and statistics are highly regarded sources of real estate intelligence, trusted by reporters and industry insiders alike.  I am delighted to share with you our latest Monthly Snapshots  for both Manhattan and Brooklyn . Inside you will find a detailed analysis of residential real estate sales that closed in Manhattan and Brooklyn in the month of May.   If you have any questions call me anytime.
Decrease in Sales and Price Per Square Foot.
Overall sales were down compared to last May, with declines for condos and co-ops. Relative to last year, APPSF declined for condos, but rose 1% for co-ops.

More Days on Market . Fewer Contracts Signed.
Days on market for condos increased 44% (104) relative to May 2015 (72) and 5% versus this past April (99). Condos had a 20% drop in signed contracts, and Co-ops also dropped by 15% from last year.
 
Increase in Listings Continues.
For the fifth consecutive month, Manhattan experienced an annual increase in total listings. Inventory rose 15% compared to last year and 4% compared to last month. This month had the highest number of total listings since October 2012.
 
Average Price Per Square Foot Declines
The overall average price per square foot was 5% lower, likely due to the drop in two bedroom prices which is the bulk of the market.
 
Huge Rise in APPSF for Three Bedrooms.
The three-or-more bedroom average price per square foot was up 17% ($887) versus May 2015 ($759) when a larger portion of townhouses sold, skewing price per square foot downward.
 
Mixed Sales Indicators. 
May in Brooklyn was marked by steady average and median sale prices compared to the same time last year. However, 33% of sales this month were below asking compared to 24% a year ago, when the average sale price was higher than the average asking.
 


NYC Sidewalk Cafes
The Perfect Sidewalk Cafe Map

The New York City Department of Commerce has built the perfect resource for finding and enjoying sidewalk cafés in your neighborhood this summer. The online site provides a snapshot of the neighborhoods where sidewalk cafés are popular, as well as up-to-date information on pending applications. The Upper West Side has a total of 146 sidewalk cafés, falling behind the Upper East Side, Soho and Greenwich Village. View The Map Here  (Photo - Pier i Café - 500 W 70th Street)
Price it Right!
Selling your Home? Pricing is Everything

In today's market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.    Click Here to Read the Article



Pier 1 at Riverside Park
Rediscovering New York at 70th Street

The scenic four-mile waterfront Riverside Park extends from 62nd to 158th streets along the Hudson River in the Upper West Side of Manhattan. Facilities include sport courts, a skate park, bike paths on the Manhattan Waterfront Greenway, and a public marina at 79th street. Pier 1 at 70th Street allows visitors to get up close to the water, enjoy the views, or to even launch a kayak or canoe. Pier 1 is also one of the several locations this summer housing summer on the Hudson Events, including free Salsa Lessons in June. A local favorite, Pier i café sits at the base of the pier on W 70th and Riverside Park, offering visitors fresh food with open air seating, scenic river views and dramatic sunsets. Click Here to Read the Article
Featured Property
269 West 72nd St. Apt 4A (UWS)

Here is a fantastic opportunity to own a bright, south facing 1-bedroom, 1-bathroom residence on the Upper West Side. This completely renovated pre-war beauty is flooded with sun. The living room and bedroom have high beamed ceiling, beautiful hardwoods with inlays, built-ins under the windows and sky views. This fully-renovated open, windowed, chef's kitchen features great counter space, Caeserstone counters, white cabinets, a wine rack, cutting board and upgraded appliances. A very tastefully renovated bathroom with window completes the apartment. The rooms are spacious, there is good closet space and a smart layout provides for comfortable living. 

Jeff Nolan
Licensed Associate RE Broker
Multi-Million Dollar Club Since 2011
Top 1% of 45,000 NRT Sales Associates

Corcoran Group Real Estate
Union Square Office
30 Irving Place, 5th Floor, NY 10003
Cell Phone - 212.260.0562
Office Line - 212.500.7022
jeff.nolan@corcoran.com
CURRENT LISTINGS  
Market Rates
Conforming 30 yr fixed: 3.625%
Conforming 10/1 ARM: 3.250%
Conforming 7/1 ARM: 3.000%
Non-Conforming 30-yr fixed: 3.375%
Non-Conforming 10/1 ARM : 3.000%
Non-Conforming 7/1 ARM: 2.625%
Please contact me for Mortgage Banker recommendations in New York City.