Archive for About New Yorkers
Which Spot In Central Park Was Voted Most Romantic?
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As the snow falls heavily in Manhattan, I received an update from the Central Park Conservancy. Reminding me of Valentines Day (note to self: Send flowers to Les), I did wonder which was the most romantic spot in Central Park.
The answer? Bow Bridge. Check this and see what so many have said about Bow Bridge. Even in the snow of winter! Or read about Central Park’s most romantic stories.
The story behind Bow Bridge…
- Named for its resemblance to a violinist’s or archer’s — or Cupid’s — bow, Bow Bridge’s dreamy setting over the sprawling Lake has inspired many a lovers’ stroll.
- Designed by Central Park co-designer Calvert Vaux and his assistant Jacob Wrey Mould and built in 1862, Bow Bridge is the second-oldest cast-iron bridge in the United States. The Bridge spans 60 feet across the Lake, linking the cultivated and flowering landscape of Cherry Hill with the rustic and sprawling woods of the Ramble.
- Bow Bridge is one of the most photographed spots in the Park and is provides the romantic backdrop for many wedding proposals and classic film shots.
Don’t worry spring is on the way…
Four Reasons To Buy and Invest In Manhattan Real Estate
Posted by: | Comments1 -The Numbers
- Manhattan residential real estate has performed better than the broader U.S. real estate market.
- Compared with losses of more than 40% for Los Angeles and San Francisco over the past few years, Miller Samuel reports in the third quarter 2009 Manhattan Residential Market Overview that the average price per square foot in Manhattan was $996 vs. $1289 as reported in the first quarter of 2008 , a price reduction of 23% from the peak.
- Third-quarter 2009 data show prices declined at a lower rate while transaction volume surged 46%, a sign that the Manhattan market is starting to find its bottom.
- As Donald Trump once said “It’s a water thing”. Manhattan is a landlocked island. While developers in most cities keep expanding outward, developers in Manhattan do not have this alternative.
- Wall Street firms are expected to pay a record $140 billion in bonuses this year according to The Wall Street Journal. Regardless of whether these bankers deserve their lavish bonuses, their payday will boost Manhattan real estate prices.
2 -Capital of the World
- Manhattan is a global must-see destination. Emerging markets like Brazil and China are creating wealth at a very high rate and churning out millionaires.
- New York is often the first international destination new millionaires from emerging countries want to visit. It’s also one of the first places where they want to buy investment property or a pied-a-terre.
3- Diversity of Industry
- Besides finance, New York has media, hospitality, advertising and professional services like law and accounting firms. These industries will be serving emerging-market economies and will benefit the local New York economy in terms of job creation and housing demand.
- If not for the diversity of the current New York City economy, the unemployment rate would be even higher than 10.3% that was reported in August.
- Sectors like education, health, leisure and hospitality have gained jobs, which partly offset the negative impact of the financial job losses.
4 -Quality of Life
- New York City is one of the safest cities in the US.
- The legal system is established and there is a better work-life balance compared with countries like China.
- Transportation in Manhattan via the Subway system is efficient and reduces commuting time for those living in Manhattan.
- The air in Manhattan is pristine compared to air in other global metropolises like Hong Kong.
Portions excerpted from NuWireInvestor reporting on a story written by Wei Min Tan of TheStreet.com
Boomers, Empty Nesters and Retirees – Welcome Back to Manhattan!
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There’s no grass-mowing or snow-shoveling. No need to endure the aggravation and expense of maintaining a couple of cars (unless you want to). Mediocre restaurant chains are few and far between, and commutes that run an hour or more are unheard-of. What could be better?
One of the city’s fastest-growing groups of residents is Baby Boomers (their clout is evidenced by the fact that their descriptor is usually capitalized, contrary to the basic rules of the English language). Often empty nesters and retirees, many of these folks have been languishing in suburbia after raising their lovely children, missing the City’s vibrant culture.
Manhattan, of course, is arguably the biggest and best cultural center in America. In fact, maybe, the world. We have it all – whatever kind of entertainment you prefer, some of the world’s best museums, great opera, symphonies, jazz clubs, theater and more great restaurants than most of us will ever have the chance to dine in.
People 55 and older make up more than 20% of the borough’s population and they’re on the verge of a major growth spurt. While the elderly population increases across the city, Manhattan’s share is projected to increase 57.9 percent over 2000 to 2030, to 295,000 people 65 and older in 2030 according to the New York City Department For The Aging which published this report.
The figures are great news for anyone who’s a Boomer, empty nester or retiree. It means Manhattan will continue to develop a fabulous array of the amenities you love the most. You also have a great choice of homes, from beautifully-detailed pre-war apartments to new condos and lofts with in-house fitness and business centers.
Yankees And Bronx Real Estate
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Yankees Win! NY Daily News photo
I’m not really a raving baseball fan but as long as Boston doesn’t win, I’m OK with whoever does.
John Massengale an architect and urban planner posted this brief history:
“The boss of the Yankees, George Steinbrenner, complained about parking and a perception of crime, and said he might move his team if the city didn’t build a new stadium for them. The then Mayor of the city, Rudolph Giuliani, proposed building a new stadium over a railyard on the west side of Manhattan, at a cost of $1,000,000,000.00.
The Bronx Borough President, the Honorable Fernando Ferrer, wanted to keep the Yankees in the Bronx by building what he called the Yankee Village.”
The rest is history as they say.
“The Yankees won. The world is right again,” team president Randy Levine said.
I was curious about how housing prices were doing in the Bronx since the construction of the new stadium so I visited Trulia’s Bronx Real Estate Overview
Average price per square foot for Bronx NY was $201, a decrease of 9% compared to the same period last year. The median sales price for homes in Bronx NY for Jul 09 to Sep 09 was $390,000 based on 443 home sales. Compared to the same period one year ago, the median home sales price decreased 11.9%, or $52,500, and the number of home sales decreased 8.8%.
There are currently 3,048 resale and new homes in Bronx on Trulia, including 43 open houses, as well as 1,390 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Bronx NY was $463,916 for the week ending Oct 28, which represents an increase of 0.7%, or $3,009, compared to the prior week. Popular neighborhoods in Bronx include Riverdale and Throgs Neck – Edgewater Park, with average listing prices of $654,112 and $456,530.
Trulia’s Heat Map and neighborhood by neighborhood residential sales details here.
It’s Halloween, Charlie Brown: A Few Tips for the Night of the Great Pumpkin
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Yes, Halloween is Saturday, so it’s time to finalize your Trick-or-Treat plan if you are old enough to give out candy, under 13 or the parent of same.
Here are some tips for celebrating All Hallows Eve in the city:
- If you welcome visits from all the little superheroes, pirates, witches and bumble bees in the building, make sure you’re apartment number is included on the list that should be posted in the lobby of your building.
- If your building doesn’t have such a list, suggest one to the super. It ensures that those who don’t welcome visitors won’t be disturbed.
- If you really don’t care how cute little Sara is going to be in her princess outfit, leave a supply of candy with your doorman with “Happy Halloween from 11A” taped to the side of the bowl. He’ll hand them out – and enjoy a few of the mini Snickers himself. (Be sure to mention it if you want your bowl back in the morning.)
- No doorman? Want to participate but don’t want to spend the evening traipsing back and forth to the front door? Leave a container of candy outside the door. Remember to replenish the offering as needed as long as your budget allows.
- If you live in a walkup, take pity on the frustration this causes for kids and parents – put a sign on your door to announce whether you are a treater. You might try to post a lobby list and let everyone add themselves at the appropriate spot, but messing with the list may be irresistible for kids between 13 and 30 (possibly 40 in some cases of arrested development – you know who you are).
- Make sure to give kids only store-bought, individually-wrapped candy, since wary parents will toss anything else. Trick-or-Treaters’ faves include chocolate bars, Skittles, and Tootsie Roll Pops. Kids today often are not fond of candy corn – yet another sign that times change. No one but dentists gives sugarless gum. It’s only once a year!
- In the process of shedding pounds or watching your weight? Buy only treats you dislike enough that you really, really won’t eat them, and be sure all extras get dropped off in a child household or taken to work on Monday.
Parents, here is some more information on how to Trick or Treat in New York City.
Happy Halloween!
Boomers and Empty Nesters Cry Foul on New York Daily News
Posted by: | CommentsIn an otherwise interesting article about the trendy set born between 1946 and 1964 flocking back to Manhattan in record numbers, the NY Daily News could have aroused the ire of many members of the Baby Boom generation.
The problem? A casual opening sentence that said those Boomers bring “plenty of gray hairs and wrinkles” to the trendy and sophisticated borough. Even the title is somewhat unfortunate: “Oldie but goodie: Retirees, empty-nesters flock to Manhattan – and thrive.”
Here’s some tongue-in cheek advice I’d give to the NY Daily News which is cluelessly unhip regarding Boomers and the empty nest crowd:
- Don’t even try referring to Boomers as old until you’re sure most of them are at least 80 – that will occur in about 2045. Boomers are Boomers, not oldsters! Being ahead of your time is often good, but not when describing Boomers.”
- 80 may be the new old. Until then, the Boomers may consent to being referred to as middle-aged.
- Female Boomers very rarely have gray hair, and Grecian Formula hasn’t been around since 1961 because nobody uses it.
- Be prepared for the Botox and cosmetic industries to rain scorn upon you. Wrinkles are not the in thing, and a multi-billion dollar industry is not going to take this sitting down. Spending on anti-aging cosmetic products has passed $75 million a year, and has been growing at about $8 million per year since 2004.
- Be careful – plastic surgeons and other specialists involved in anti-aging services will be launching random scalpels your way. Dermatologists and others will do heaven-knows-what – inject you with acne, perhaps? About 60,000 U.S. docs now profit from aging services, and anti-aging medical procedures are on track to surpass $15 billion per year by 2012.
Having assured my readers that I hear you, I’m off to start on an upcoming post about why Manhattan is a Mecca for the forever young. .
Manhattan Co-op Board to Madonna: Be Quiet Or Get Out!
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Madonna’s Upper West Side co-op board is threatening to evict the Material Girl. According to a lawsuit filed by her upstairs neighbor Karen George, Madonna is using her Central Park West pied a terre ” as a rehearsal studio, forcing neighbors to endure “blaring music, stomping and shaking walls,” for up to three hours each day.
When a colleague sent me this link reporting the story, I remembered a similar problem that my wife and I had with an upstairs neighbor (not music- but walking both human and canine). Fortunately, carpeting resolved the problem and our “quiet enjoyment” was restored. If you live in New York City you should expect noise from police cars to fire engine sirens, horns and car alarms, garbage trucks and yes from your neighbors as well.
If you are moving from a quiet suburban neighborhood or if you are particularly sensitive to noise here are some suggestions to test your decibel tolerance before you buy an apartment in Manhattan.
- If the apartment is located near an elevator, public laundry room or trash room make sure mechanical noises can’t be heard.
- Check to see if the windows have been upgraded to reduce street noises as well as energy costs.
- Depending on the floor of the apartment, you may want to listen carefully- especially in rear courtyard facing rooms-for fans and other mechanical noise creating devices on adjacent rooftops.
- Ask the seller’s/showing broker to turn off or lower any music playing in the apartment.
- Before signing the contract, visit the apartment at different times of the day. A morning visit will expose the going to work noises, an afternoon visit will let you concentrate on street and traffic sounds and the evening visit may give you some insight into the level of noise you can expect from prospective neighbors are reading or blaring their music or TVs?
- As part of your due diligence, you and/or your attorney should read the co-op or condo meeting minutes and see if there are any noise issues discussed.
Generally speaking, a co-op board will have more jurisdiction and clout over noise matters. Based on their bylaws a co-op board may be able to levy fines until the offending shareholder complies or, as with Madonna, threaten and ultimately have the shareholder evicted. Condos generally do not have this power and, it may be completely up to you to bring any legal pressure on your fellow condo neighbor.
Statistics show how NYers cope with the recession
Posted by: | CommentsAccording to an article in today’s Crains New York:
Crain’s City Facts report finds that Big Apple denizens are highly productive on the job, and prefer cheap thrills.
New Yorkers are neurotic overachievers who care a lot about how they look and have a penchant for inexpensive entertainment.
So say the statistics, anyway. This year’s City Facts, Crain’s New York’s annual look at New York by the numbers, shows a city and its denizens slowly being transformed by the recession – but perhaps not so fast or so dramatically as some had feared.
Among the facts uncovered by the Crain’s research team:
•New York workers are the most productive in the nation by a wide margin: 37% more productive than the average American worker, as measured by dollars produced in 2007. The margin may narrow as the recession deepens and Wall Street profits fall, but the state bears out one of the fundamental qualities of New Yorkers: their ambition.
•All that work comes with a price. New Yorkers are judged to be the third most neurotic people in the nation, say professors who theorize that particular geographies have particular personalities. Perhaps adding to New Yorkers’ stress level are the taxes and regulations that caused another set of professors to rank our state dead last when it comes to personal freedom.
•Putting their ambition on display, legions of laid-off New Yorkers have been starting their own businesses, but they shouldn’t expect an easy road. Despite the federal government’s efforts to resuscitate the financial market, small business lending is on track to decline again in 2009.
•New Yorkers helped pay for their hometown team, the Yanks, to build a spanking new stadium and then, thumbing their nose at the higher ticket prices, have been skipping the games. The Yankees are selling a lower percentage of their home game seats in their new, smaller stadium this year.
•New York is known as a city of excess, but New Yorkers actually spend less of their income on entertainment than Americans, perhaps because just living here is entertaining enough.
•The recession is likely heightening New Yorkers’ tendency to seek out low or no-cost entertainment: Circulation at the New York City Public Library is up 12% this year to 22 million.
•While fashion-first New Yorkers don’t necessarily pony up for big nights out, they do spend more on clothes and personal care than their national counterparts.
•Despite the aforementioned taxes and regulations, New York City remains the nation’s biggest corporate headquarters city, beating Texas up-and-comer Houston by a wide margin (43 to 25 headquarters of Fortune 500 companies).
•New York remains the nation’s business capital – but that may not be saying much. After years of slow growth, the government, health care and education sectors make up a full third of all the jobs in New York City
