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Volume 17: Issue 2 | February 2017
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Private outdoor space in New York City is a luxury to say the least. Whether you're peering over from your balcony to buzz up the delivery man, sipping the morning coffee on your terrace, watching the sunset from your roof top cabana or grilling "shrimps on the barbie" in the garden with your friends - a balcony, terrace, cabana, or garden space is about as "outdoorsy" as it gets in NYC. Below we are featuring an entry from our blog on the value of this precious outdoor space that we love so dearly.
Additionally, this month's edition answers the question - Is a condo or a townhouse a better investment? Both fared well, but one of them has an edge. It also shares Corcoran's January Monthly Snapshots for both Manhattan and Brooklyn to keep you up-to-date, reviews the Fourth Quarter 2016 performance for both the Manhattan and Brooklyn markets, introduces Corcoran's trendy Inhabit.com and lastly features two of our just listed properties - with outdoor space of course. If you really love outdoor space, we have four (4) listings currently in both Manhattan and Brooklyn with outdoor space. Upon review, please call us anytime with questions or to discuss the current market conditions. We would love to hear from you.
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Year End Market Report
Introducing Corcoran's Inhabit
Corcoran's brand new website Inhabit
explores the art of living through genuine storytelling and localized expertise. Discover how to create the home that lets you express who you are. It is also featuring the Manhattan and Brooklyn 4th Quarter Reports for 2016. S
ale prices in Brooklyn rose year-over-year by 33%, to record levels: $908,000 (average price) and $732,000 (median price). New development sale price rose 45%. The
average price per square foot in Manhattan was up 6% YOY.
View Website Here.
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BKLYN Townhouse Report
Forecasting What's Next
"Prime townhouse zones" - like Prospect Park thru Greenpoint, experienced a 22% sales drop in the 4th Quarter of 2016. Could the market be shifting from, "irrational exuberance" and inflated prices? If y
ou are still looking to spend (or cash in), rest assured: Brooklyn is hardly in a slump. Using a slightly different metric ($2M instead of $3M), the Daily News declared October 2016 - just three months ago! - a "banner month for the Brooklyn luxury market," with brownstones dominating sales.
View Forecast Here.
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Love at First Sight
Our Passion for Outdoor Space
A terrace, a balcony, cabana or even your own private garden - any and every square foot of outdoor space in NYC offers a great way to get away from it all
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perfect for getting a breath of fresh air or taking in some smoke, if that's more to your liking.
Depending on who you ask, those extra square feet offer a unique experience with a special price tag. So, what's the true value?
Learn More Here.
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Condo or Townhouse
Which is the better Investment?
It's worth noting that townhouses make up just 2.6 percent of total Manhattan residential real estate sales. Also interesting to note that the median sales price for a condo rose 58.5% between 2007 and 2016, making the median sales price nearly $1.7 million. So which is the better investment condo or a townhouse? Do you think townhouses outperformed the condo market, or vice versa?
Read on Here.
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Featured Property
Balcony Seats @ the Lincoln Center
The Alfred Condominium is rated the #2 Condo Building in Lincoln Center. With a newly renovated fitness center, 75 foot swimming pool, plus a private garden with passage way to Lincoln Center, #161W61 offers a full service experience inside and out! Apartment 6C is a large Junior 4 with an powder room, washer/dryer and private balcony. Just what the Doctor order for the perfect Pied-a-Terre, just steps from it all.
View Listing Here.
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Featured Property
125N10 - Prime Williamsburg
This time opportunity doesn't knock, it opens the front door to Apartment S4D at 125 North 10th Street. This bright 1,114 square foot 2 bedroom, 2 bathroom condo on Williamsburg's Prime Northside, has 10+ ceilings, central air, open sky views, a great layout, a large master bedroom suite, Brazilian walnut hardwoods, excellent closet space and a private cabana with spectacular views of the Williamsburg Bridge.
View Listing Here.
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Jeff Nolan
Licensed Associate RE Broker
Multi-Million Dollar Club Since 2011
Top 1% of 47,000 NRT Associates
Corcoran Group Real Estate
Union Square Office
30 Irving Place, 5th Floor, NY 10003
Cell Phone - 212.260.0562
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Active
161 W 61st, 6C
125 N 10th Street, S4D
1615 Bergen Street, 1
1607 Bergen Street, 3
517 73rd Street, 2
237 Eldridge Street, 4
269 West 72nd Street, 4A
351 East 77th Street, 5B
1082 Dean Street, 4
125 N 10th Street, S3I
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Contact us for Private Mortgage Banker recommendations in NYC.
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Conforming 30 yr fixed: 4.00%
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Conforming 10/1 ARM: 3.62%
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Conforming 7/1 ARM: 3.62%
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Non-Conforming 30-yr fixed: 4.25%
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Non-Conforming 10/1 ARM: 3.37%
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Non-Conforming 7/1 ARM: 3.00%
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Equal Housing Opportunity. The Corcoran Group is a licensed real estate broker located at 660 Madison Avenue, NY, NY 10065. All information furnished regarding property for sale or rent or regarding financing is from sources deemed reliable, but Corcoran makes no warranty or representation as to the accuracy thereof. All property information is presented subject to errors, omissions, price changes, changed property conditions, and withdrawal of the property from the market, without notice. All dimensions provided are approximate. To obtain exact dimensions, Corcoran advises you to hire an architect.
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