Archive for October, 2010

Oct
23

Tudor City: A Serene Wooded Escape From The City.

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Manhattan is dotted by many neighborhood or “pocket parks”, “all with a bit of peace in every nook“. If you make a left on 41st Street you’ll find, Tudor City, a serene wooded escape from the city.

“One of the most beautiful small parks is truly hidden in plain sight. The privately maintained Tudor City Greens, with charming pebbled paths, dazzlingly maintained vegetation and even one original 1927 lamppost.

The south side especially has the look of a botanical garden, with varied shades of green (and yellow and purple and red) leaves placed in strategic contrast. The view is dominated by Tudor-style apartment buildings of the enclave, named a city historic district in 1988”.

The residents of the Tudor City neighborhood have free access to these public, “secret” parks and enjoy such events as an Easter Egg Hunt, Spring Concert Series (May through September 7th), Halloween Party (October 31st–6pm), Fall Planting Day November 6th—10am to 2pm), Menorah Lighting (December 1st–6pm), Decorating for the Holidays (December 4th — 11am) and the Christmas Tree Lighting (December 9th —6pm ).

The neighborhood has a grocery/deli, a café, cleaner and even its own highly rated southern Italian restaurant, Convivio.

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Oct
09

Charing Cross House, 305 East 72nd Street

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I’ve always wondered why buildings where named as they are…This building, at 305 East 72nd Street, New York, NY 10021 was named after the book- 84, Charing Cross Road-.  Here’s what the plaque says:

Charing Cross House

From her many years’ correspondence with Marks & Co.,  Booksellers, of London Helene Hanff (1916-1997) created 84, Charing Cross Road the little book beloved around the world and a timeless bridge of the seas uniting people who love New York and London and Literature

…I decided the time had come to get me a real apartment with real furniture, and in my right ,mind and shaking all over I went around to the construction site of a new building going up over on 2nd Avenue and signed a lease on a 2 1/2 (“bed-sitter”) apartment that isn’t even there yet…I want to live like a lady even if it means putting off England till it’s paid for…

 Oh, the new address: AFTER September 1, 305 East 72nd St.,New York, NY 21

Here’s the linkto a YouTube excerpt from the Film about two friends (Anthony Hopkins & Anne Bancroft) who had never met, based on Helene Hanff’s book.

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Our Q3 Manhattan Rental Market Overview which was released today and summarized below was prepared by Miller Samuel for Prudential Douglas Elliman

  • Median rental price was $3,000 in the third quarter, 1.7% higher than $2,950 in the prior year quarter and unchanged from the prior quarter.
  • Median rental price growth over the prior year quarter occurred in the studio and 1-bedroom markets with a 9.8% increase and 1.9% respectively.
  • The number of new rentals surged as landlords offered limited concessions for lease renewals. Rental listing inventory fell 28.1% to 4,693 apartments from 6,527 listings in the same period last year.
  • The listing discount—the percentage difference between original rental listing price to contract rental price—fell to 1.7%, its lowest level since the third quarter of 2006.
  • Days on market fell to 38 days in the third quarter, less than half the 77 days of the prior year quarter.

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Our Q3 Survey of Manhattan co-op and condo sales which was released today and summarized below was prepared by Miller Samuel for Prudential Douglas Elliman

After three consecutive quarters of double digit declines in year-over-year inventory levels, the pace of the declines appears to be easing. There were 8,123 listings at the end of the third quarter, 3.2% less than 8,389 listings in the prior year quarter and essentially unchanged from the 8,157 listings in the prior quarter.

There were 2,661 sales in the third quarter, 19.3% above 2,230 sales in the prior year quarter, but 3.4% less than 2,756 sales in the prior quarter. With the increase in the number of sales came a shift in the mix of apartment sizes that sold during the period that skewed the price indicators higher.

There was a sharp decline in studio sales to 9% market share from 17% in the same period last year, but a 10% jump in 1-bedroom and 2-bedroom apartments.

Overall price indicators show gains over prior year and prior quarters, and were skewed higher by the shift to a more normal sales mix by size of apartment. The median sales price of a Manhattan apartment was $914,000, 7.5% higher than $850,000 in the prior year quarter and 1.7% above $899,000 in the prior quarter.

Properties sold more quickly in the quarter than during the same period last year. The average days on market—the number of days between the last change in list price, if any, to the contract date—was 125 days or 42 days faster than 167 days last year.

Sellers were more in sync with market value this quarter. Listing discount—the percentage difference between the list price at time of contract to the contract price—fell to 5.8% from 7.6% in the prior year quarter.

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