Manhattan Insight: Honeycomb or Shawarma

Volume 19: Issue 3 | March 2019

This month in Manhattan Insight we have some tips for inexpensive home updates as well as advise on getting an accurate renovation estimate if you're feeling more ambitious. Perhaps you would rather just avoid the headache and purchase a brand new pad? If so, we have profiles of two of our favorite new development projects. We also include our featured listings and some fun things to do while you wait for your apartment to close. Now that The Vessel is officially open at the Hudson Yards, do tell, what does the newest art installation look more like - a Honeycomb or a Shawarma?

We also keep you abreast of the latest real estate taxes to be proposed for pied-a-terre owners, the current state of both Manhattan and Brooklyn markets, and tell you about one of the smallest plots of land owned in our mecca. Now that Spring is officially here, we have our fingers crossed for warm weather and warmer markets! It's a great time to buy as seller's have gotten more realistic about pricing, and rates continue to fall.


Manhat tan Report February Monthly Snapshot Condo and co-op markets performed very differently in February: condo sales again declined while co-ops experienced another slight uptick in contracts signed. Fewer sales at the very high-end pushed the average condominium price downward. Meanwhile, the median price remained the same. Read More		Brooklyn Report February Monthly Snapshot During February, Brooklyn saw mixed market indicators including rising price statistics and lower contract activity, but also level days on market and declining inventory. Median price rose 18%, driven by fewer contracts below $1M, and both average price and PPSF also saw increases. Read More


Cheeky Rebellion NYCs Symbol of Defiance In a city where eyes are naturally drawn upwards, you would do well to notice a small triangular mosaic in front of a famous W. Village cigar shop. Composed of black-and-white tiles, the triangle reads: 'Property of the Hess Estate Which Has Never Been Dedicated For Public Purposes'. What's the story? Read More		Pied-a-Terre Tax! Strong Support for Proposed Tax A plan to tax the rich on multi-million dollar second homes in New York City has rapidly moved closer to reality. The tax would apply to apartments starting at $5 million and above. Politicians have already signed off on the idea as a funding stream for the city's beleaguered subway system . Read More


The Rise of Hudson Yards Time-Lapse Video of The Megaproject Even though it's been in development for more than a decade, the first buildings that make up the complex known as Hudson Yards, rose relatively quickly. Construction officially kicked off in 2012, and the first phase opened earlier this week. Watch a time-lapse video of the project's progression. Watch Video		The Vessel Visit The Center Piece of Hudson Yards The grand opening of Hudson Yards has drawn New Yorkers and Tourists alike. A 150-foot-tall, Honeycomb-shaped public art installation, dubbed The Vessel, sits at the center of the complex. Now you can climb the more than 2,500 stairs. For more information follow the link. More Info


Reno Budgets Many Buyers Are Stumped Getting a realistic estimation for a renovation project can seem impossible in NYC. For an accurate quote there are a number of steps you can take to ensure you have budgeted properly. Read more to see our experts' top tips and recommendations when you are considering doing renovation work . Read More		Paint Update Clever Ways to Refresh Your Furniture We all know about the transformative power of paint for your wall, ceilings, and even floors, but have you thought about updating your furniture? With all the great colors and techniques out there, it's easy to freshen up an over-loved piece or thrift flip something plain and make it extraordinary. Read More


Gupshup Indian Food With a Touch of Opulence The latest Indian spot in Gramercy, boasts upscale decor and creative fusion food. The space is fashioned to look like the home of a fictitious Bombay family in the 1970s, and is full of colorful, playful, opulent decor, with several chandeliers, two murals and ornate wallpaper. More Info		Subways of The Sea Photo Exhibit of Subways-Turned-Reefs A new and rather unique exhibit, "Sea Train: Subway Reef Photos by Stephen Mallon" features 19 large-format photographs that capture iconic subway cars, dropped like toy trains from hulking barges as they're being deployed as sea-life-sustaining artificial reefs. Read More


100 Barclay Tribeca New Development Offering immediate occupancy, 100 Barclay is the epitome of historic loft buildings in Tribeca and a downtown landmark. The Art-Deco tower has been completely recrafted to feature ample light and views from the Hudson River to the Midtown city skyline. Contact Jeff to set up a showing. See More		211 Schermerhorn Downtown Brooklyn New Development Distinguished by its stunning over-sized industrial-inspired casement windows, 211 is the best of all worlds; a perfectly scaled collection of 1, 2 and 3 bedroom residences at the crossroads of four historic landmarked neighborhoods. To view, e-mail or call Jeff Nolan today! More Info


Breathtaking Views 372 Central Park West, Apartment 15C Now on the market! After some minor updates and this apartment is ready for prime time. This is a tremend ous opportunity to purchase a high-floor 2 bedroom, 2 bath home offering stunning vistas of Central Park from every window in the apartment. To set up a private showing e-mail today! Read More		Bright and Affordable 278 Hawthorne Street, Apartment 2 This is a tremendous opportunity to rent a beautiful, second floor, 1 bedroom, 1 bath apartment with access to a common roof deck in Prospect-Lefferts Garden. The apartment has high-end condo finishes, large windows, high ceilings, and beautiful wide plank oak flooring. Learn More

Jeffrey R. Nolan

Licensed Associate RE Broker

Gold Council Member

Multi-Million Dollar Club Since 2011

Top 1% of 54,000 NRT Associates

The Jeff Nolan Team

Corcoran Group Real Estate

Union Square Office

30 Irving Place, 5th Floor, NY 10003

Cell Phone - 212.260.0562

Office Line - 212.500.7022

[email protected]

www.corcoran.com/jnolan

CURRENT LISTINGS

Active

298 Clinton Ave (Duplex)

372 Central Park West, 15C

278 Hawthorne Street, Apt 2

276 Hawthorne Street, Apt 2

In-Contract

56 Pine Street, 7E

Recent Transactions

333 E 109th Street, PHE

1609 Bergen Street, 2

112 2nd Place (MFTH)

111 Murray Street, 34B

298 Clinton Ave (MFTH)

22 N 6th Street, 3J

333 Rector Place, PHS2

125 N 10th Street, NGD

125 N 10th Street, N4D

61 W 62nd Street, 15B

125 N 10th Street, N5F

610 Warren Street, 5F

215 E 81st Street, 2A

555 Main Street, 513

140 Rutland Road (SFTH)

MARKET RATES

30 yr fixed Jumbo: 3.641%

Conforming 20-Year Fixed: 3.990%

Conforming 15-Year Jumbo : 3.890%

15 yr fixed: 3.375%

10/1 ARM Jumbo: 3.250 %

7/1 ARM Jumbo: 3.000%

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.