Manhattan Insight - Apps, Stats and Concessions

Volume 18: Issue 5 | May 2018

For May, we are packed with market data, real estate news, new listings, apps, stats, Cider, concessions, Italian design, and boat bars! We have monthly snap shots for both Manhattan and Brooklyn to keep you up to date on the latest and the very exciting first quarter rsults for both boroughs.

While some sectors of the market continue to soften, Brooklyn buyers seem to still be struggling to find apartments that meet both price and location requirements. This has continued to push buyers further out into the borough, and subsequently, keeps pushing prices higher in these neighborhoods.

We also reveal the most expensive neighborhoods in New York, show you an app that gives you the down low on an area before you buy, and have very good news for those looking to rent.

For news that isn't strictly real estate we cover the latest design trends spotted during Milan design week, tell you about a new Bushwick hot-spot where you "catch" your cider and let you know the best places to sip drinks on the water (now that the weather is finally getting nice).

As always, we have our featured listings. Our first is a beautiful one bedroom apartment in prime Williamsburg with a massive out door space for under $1,000,00. The second is a charming and bright one bedroom rental on the Lower East Side. We hope you are enjoying the lovely change in the weather. Happy spring to ALL!


Manhattan Q1 First Quarter Corcoran Report The Manhattan market saw reduced sales, inventory on the rise and price statistics settling down. Meanwhile, days on market dropped slightly, indicating that appropriately priced properties are still finding buyers, while overpriced properties linger. Buyer hesitation persisted. Read More		Brooklyn Q1 First Quarter Corcoran Report Sales were above the five-year average for Q1, and. inventory continued to drop. This left many buyers struggling to find apartments that met both their price and location criteria. This pushed some buyers deeper into the boroughs, and caused others to take a hiatus, hoping for more inventory in the spring. Read More


Manhattan Markets Monthly Market Analysis (April) Contracts signed dropped annually in March for both product types, with condos seeing a larger decline. However, condo pricing metrics were up, with both average and median price increasing. Days on market increased for condos, reaching the second highest point in the last 12 months. Read More		Brooklyn Update Latest Monthly Market News (April) The Brooklyn market experience a year-over-year increase in contracts signed for the third consecutive month. strong new development sales in South Brooklyn sustained from the previous month into mark. However price metrics showed mixed trends compared to March 2017. Read More


Design in Milan The Ultimate Furniture Guide Milan Design Week recently featured the most cutting edge designs for furniture, lighting and home furnishings. Couldn't make it to Milan? Not to worry! We have a roundup of all of the designs that were trending last week. Pick and choose your favorites to update any space in your home. Read More		Concessions Galore ~50% of Landlords Now Negotiating The ever changing landscape of LIC and the inevitable L train shut down in Williamsburg has left the rental market in turmoil for the past 7 months. Landlords are feeling the heat and working with concessions or all kinds to keep the rents stable and vacancy rates low. If you've been thinking of moving... Read More


Neighborhood App Supreme Before You Move - Learn About the Hood Thinking of moving to a new neighborhood? Be sure to check it out on the newest app to give you neighborhood information. Localize gives you all sorts of information at the click of a button, and helps you to avoid pitfalls that you might not otherwise notice during your 15 minute apartment visit. Try it here!		TriBeCa Still Reigns Most Expensive Neighborhoods PropertyShark just put out its quarterly report of the city's priciest neighborhoods, and once again, Tribeca has emerged on top. where do you think Fort Greene landed? PropertyShark determines the most expensive neighborhoods based on median sales price, and Tribeca took first @ $3.5 million. See More


Brooklyn Cider House Basque Inspired Food and Cider Brooklyn Cider House is a bar, brewery, and prix-fixe restaurant in a converted warehouse in Bushwick. The bar's up front and the industrial dining room is at the back. Betwee courses you'll head to this tasting room to "catch" your cider as it streams out of the giant vats. Read More		Best NYC Boat Bars Eat, Drink and Merrily Float When the weather is nice, all you want is to leave New York behind for some time on the water. We've got your guide to the city's best seasonal boat bars. Try one or all of them now that the weather is finally starting to get nice! We've outlined our must-see spots for you to visit. For More Details


Outdoor Oasis in Williamsburg 125 North 10th Street, NGD @ $999,000 This over-sized, South-facing one bedroom, one bath has 815 square feet of interior space, as well as an additional 390 square feet of private outdoor space. Facing into the courtyard, street noise is eliminated, creating a serene outdoor oasis. We will have our first showing this Sunday 1-2 PM. Learn More		Prime LES Condo Rental Bright and Beautiful 1 Bed for $3,250 Here is a great opportunity to rent a tasteful, bright and quiet, west facing one bedroom, located in the heart of the Lower East Side. The apartment is sun-flooded for much of the afternoon with great light throughout the day. The bedroom is large enough for a King sized bed, available July 1st. Learn More

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

Office Line - 212.500.7022
jeff.nolan@corcoran.com

www.corcoran.com/jnolan

CURRENT LISTINGS

Active

125 North 10th Street, NGD

133 Essex Street, 503

1609 Bergen Street, 2

In-Contract-Out

215 East 81st Street, 2A

125 N 10th Street, N5F

613 Baltic Street, 6C

255 Cabrini Blvd, 4A

11-48 Welling Court (TH)

66 Overlook Terrace, 1A

Recent Transactions

555 Main Street, 512 (Roosevelt Isle)

48-15 11th Street, 6E

245 E 54th Street, 21B

140 Rutland Road (Townhouse) 125 North 10th Street, SGE

125 North 10th Street, S5D

125 N 10th Street, SPHF

689 Ft Washington Ave, 4K

125 N 10th Street, N2B

930 St. Nicholas Ave, 57

58 Metropolitan Ave, 6F

255 Eastern Parkway, B6

1607 Bergen Street, 1

333 E 30th Street, 2P

632 Central Ave (Townhouse)

984 Bergen Street (Townhouse)

MARKET RATES

Conforming 30 yr fixed: 4.125%

Conforming 20-Year Fixed: 3.990%

Conforming 15-Year Fixed: 3.875%

Non-Conforming fixed: 4.5000%

Non-Conforming 10/1 ARM: 3.625%

Non-Conforming 7/1 ARM: 3.500%

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.