Summertime is here! Get out of the air conditioning and enjoy terrific outdoor movie events playing across the NY Metro Area, now through October 20, 2013. Grab your friends, your children, or your loved one and enjoy some of cinema’s greatest classics, recent hits and indie gems. For more details on one of the movies below, just click on the associated link!
August Movie Schedule (see website below for rest of schedule)
- 8/15 thurs: rocky, brooklyn bridge park >>
- 8/15 thurs: romeo + juliet (1996), tompkins square park >>
- 8/15 fri: top gun, the intrepid >>
- 8/17 sat: chicago, south street seaport >>
- 8/17 sat: queens world film festival, rockaway beach >>
- 8/18 sun: clueless, canal bar >>
- 8/18 sun: grease, habana outpost >>
- 8/19 mon: annie, astoria park >>
- 8/19 mon: e.t. the extra-terrestrial, bryant park >>
- 8/19 mon: (tba), coney island >>
- 8/20 tues: caddyshack, red hook’s valentino pier >>
- 8/21 wed: back to the future, south street seaport >>
- 8/21 wed: madagascar 3, hoboken’s pier a park >>
- 8/21 wed: the edge of heaven, socrates sculpture park >>
- 8/21 wed: the hunger games, hudson river park, pier 63 >>
- 8/22 thu: (audience votes online for film thru 6/23), central park >>
- 8/22 thurs: jaws, asbury park (nj) >>
- 8/22 thurs: o brother, where art thou?, tompkins square park >>
- 8/22 thurs: vertigo, brooklyn bridge park >>
- 8/23 fri: the adventures of tintin, hudson river park, pier 46 >>
- 8/23 fri: (audience votes online for film thru 6/23), central park >>
- 8/23 fri: beetlejuice, hudson river park, pier 46 >>
- 8/23 fri: moonrise kingdom, rockaway beach >>
- 8/23 fri: the karate kid, the intrepid >>
- 8/24 sat: (audience votes online for film thru 6/23), central park >>
- 8/24 sat: gigi, south street seaport >>
- 8/24 sat: inception, roosevelt island’s south point park >>
- 8/25 sun: (audience votes online for film thru 6/23), central park >>
- 8/25 sun: fame!, habana outpost >>
- 8/25 sun: zombieland, canal bar >>
- 8/26 mon: juno, astoria park >>
- 8/26 mon: wild style, east river park >>
- 8/26 mon: (audience votes online for film thru 6/23), central park >>
- 8/27 tues: don’t tell mom the babysitter’s dead, red hook’s valentino pier >>
- 8/28 wed: the aviator, south street seaport >>
- 8/29 thurs: (public vote), brooklyn bridge park >>
- 8/29 thurs: (rain date), socrates sculpture park >>
- 8/29 thurs: the princess bride, asbury park (nj) >>
- 8/30 fri: despicable me, rockaway beach >>
- 8/31 sat: close encounters of the third kind, south street seaport >>
September & October Movie Schedule!
Murray Hill Health and Racquet Club has expertise on health, wellness, fitness, and of course, tennis. The Healthy Club boasts the widest variety of fitness equipment ad machines, heart-pumping fitness classes, and results-driven workouts. All of these fitness activities are done in a comfortable, spacious, and inviting atmosphere. Moreover, the club has been “serving up” the game of Tennis since the year 1972 with all year round plays and programs for all ages. It doesn’t matter if you’re a beginner or a pro, the Murray Hill Health and Racquet Club is suitable for everyone. The certified professionals of the club inspire all members to achieve their desired level of fitness and tennis goals. Rest assured, you will be served with the high quality and personal service.
Tennis at Murray Hill
As previously stated, the club offers year-round Tennis programs for all ages and abilities. There are about 6 air conditioned courts. These are actually the only Elastaturf courts in the area, resilient, tru-bounce playing surface utilized during the U.S. Open. It doesn’t matter if you’re just starting out, looking to improve your skills, or competing in a tournament, the club surely offers a winning match, with both knowledge and expertise to ensure that every player will have an exceptional and unforgettable Tennis experience.
Aside from that, the club offers clinics, summer camps, private lessons, open time, early bird programs, season play, and the like. The line up here surely makes the place the most sought after Tennis Club in the area.
The newly renovated Tennis Lounge provides a relaxing and comfortable space with a good view of the Tennis Courts. There is free Wi-Fi as well, and you can watch a tennis match, catch up with friends after the game, and more. In addition, the said space turns into a Saturday Night Out for the adult tennis players, or perhaps into a child’s tennis birthday venue.
Healthy & Fitness at Murray Hill
The main mission of Muray Hill is to help every member to have a positive experience, achieve their personal goals with excellent professional guidance, train using top notch equipment, and at the same time, allowing them to engage in innovative programs and specialized services. Some of the available services at the club are the following:
- Cardo and Strength Equipment
- Group Fitness
- Personal Training
- Pilates Studio
- Private Instruction
- Senior Fitness
- Youth and Teen Classes
Special Services
The Murray Hill Health & Racquet Club is greatly enhanced by its additional special services. These include convenient Childcare, Children’s Fitness and Tennis birthday celebrations, Massage Therapies, and Nutritional Counseling.
For more information about the club, please refer to their official website.
Details
- Location: 593 Central Avenue New Providence, NJ
- Hours of Operation: Mon to Fri from 5:30 am to 10:00 pm; Sat and Sun from 7:00 am to 7:00 pm
- Contact No.: 908-665-1141
- Email Address: [email protected]
- Official Website: http://murrayhillclub.com
HARLEM WEEK 2013 is a fabulous month-long celebration of all things Harlem! What began in 1974 as a one-day tribute to Harlem has evolved into this incredible event about the community’s rich economic, political and cultural history. From children’s festivals to a college fair to the New York City Senior Citizens Day “Elders’ Jubilee,” there is a diverse range of events for residents and visitors.
HARLEM WEEK began in 1974 as HARLEM DAY – a day of inspiration and togetherness in the Village of Harlem. Due to the huge success of the day, the event was extended to one week, and it continues to grow and achieve international acclaim. It offers over 100 events during July and August and attracts more than two million attendees from all over New York and the world.
HARLEM DAY
Sunday, August 18, 2013
HARLEM WEEK’s two-day street festival “Harlem Day,” for which it may be best known, takes place on 135th Street, extending from Lenox Avenue to St. Nicholas Park. This year’s festival will harness the best of the community’s creative and cultural energy!
Here are the exciting events planned that day:
- Celebrating the 50th Anniversary of The March on Washington
Over 90,000 attendees will enjoy four outdoor stages of live entertainment featuring “The International Roots of Jazz” which will include:
- Reggae
- Latin
- Soca
- Gospel
- R&B
- Hip-hop
- Rock
- Blues
- And Calypso
There will also be exhibitors and vendors providing delicious foods, creative arts & crafts, clothing and much more.
Time: 12 – 7 p.m.
Location: 4 blocks on West 135th Street between 5th & St. Nicholas Avenue
- Upper Manhattan Auto Show
The Upper Manhattan Auto Show is an exhibition of some of the most unique, collectible, vintage and new vehicles throughout the region. Awards will be presented in select categories. Look out for the Auto Parade throughout historic Harlem! The “Sunday Caravan of Stars” will begin at the “Duke” Ellington monument at 9 a.m.
Time: 10 a.m. – 4 p.m.
Location: W. 135th Street – between 5th Ave & Malcolm X Boulevard
- The NY City Health Village
“The Village within our Village” will feature exhibits from:
- hospitals
- health centers
- health service providers
- doctors
- holistic practitioners
- acupuncturists
- dentists and others
Free health testing will also be provided on site as well as information on health plans, exercise, and healthy eating and living.
Time: 10 a.m.- 4 p.m.
Location: W. 135th Street – between 5th Ave & Malcolm X Boulevard
- Upper Manhattan Small Business Expo & Fair
Enjoy indoor and outdoor expos on business, finance, and real estate, along with attending seminars focusing on small business related issues with top experts and the economic prosperity and revitalization of New York.
Time: 10 a.m. – 4 p.m.
Location: W. 135th Street – between 5th Ave & Malcolm X Boulevard
Featuring salutes to South African music legends.
Time: 12 – 7 p.m.
Celebrating the music of Motown.
Time: 1 – 7 p.m.
Location: St. Nicholas Stage – W. 135th Street and St. Nicholas Avenue
HARLEM WEEK Dates:
July 27 – August 24, 2013
Location:
Throughout the Harlem community
New York, New York
All events are free unless otherwise noted.
Visit www.harlemweek.com for the complete calendar.
Many potential home buyers in New York City have historically turned to Brooklyn to find more affordable housing. But today’s market has taken quite a turn. The difference in price between a one bedroom apartment in the West Village compared to a one bedroom apartment in Brooklyn Heights is negligible – often not more than ten percent.
In fact, prices for homes in Brooklyn are rising at a higher rate than their Manhattan counterparts. The median asking price for apartments in Brooklyn Heights has risen almost 38 percent in the last five years. Comparatively, the median asking price in the West Village rose just over four percent in that same time frame.
Manhattan vs. Brooklyn
Up until recently, for those looking to save on a home purchase in New York City, the easy answer was to turn their eyes across the river. This is no longer the case. Brooklyn has become a top choice for more and more home buyers. Trendy Brooklyn neighborhoods can now fetch prices that are close to those found in Manhattan.
Prices for rental units in Brooklyn have been rising at a much higher rate than those in Manhattan, which has significantly lowered the price difference between the two boroughs. The current median rental price for a one bedroom unit in a popular Brooklyn neighborhood is $2,560. This is up over 11 percent from the same time last year. In Manhattan the same property would rent for $3,195. That represents an increase of 6.7 percent over last year.
While prices for homes in the Brooklyn sales market do tend to be cheaper than similar areas in Manhattan, the difference is becoming smaller and smaller. The median sales price for a Brooklyn apartment is up 14 percent over last year, at $515,000. The median sales price for a Manhattan apartment is up just 5.9 percent to $820,555.
However, some trendy neighborhoods in Brooklyn are actually more expensive than those in Manhattan. One popular neighborhood in Brooklyn, Williamsburg, is now more expensive than the Lower East Side in Manhattan. The East Village remains more expensive, though.
A Lack of Inventory
Manhattan is currently experiencing a shortage of inventory, leading many buyers to expand their searches to Brooklyn. Listings have fallen by 34 percent since last year, and this is contributing to the shrinking gap in prices between the boroughs.
Many buyers have begun looking at Brooklyn neighborhoods that have a similar vibe to those in Manhattan. For example, Park Slope has often been seen as a less expensive version of the Upper West Side, while those looking for the Tribeca loft lifestyle might find what they are looking for in Dumbo. Because of demand, prices in Park Slope are catching up to those in the Upper West Side. Dumbo is still relatively affordable over Tribeca, which remains upscale and expensive.
The Upscale Market
The best place to find a deal in Brooklyn is in the high end market. The difference in cost between a townhouse in Brooklyn Heights versus a townhouse in the West Village is significant. The most expensive home sold in Brooklyn Heights was for $12 million. By contrast the most expensive home in Manhattan sold for $88 million.
This price gap is largely due to a lack of demand for luxury properties in Brooklyn. Historically, buyers who could afford a luxury property have chosen Manhattan. As a result Brooklyn prices for high end homes have not caught up.
Tribeca is a neighborhood located in Lower Manhattan, New York City. Its name is an acronym of “Triangle below Canal Street”; the triangle is bound by Canal Street, West Street, Broadway, and Vesey Street. This charming community is comprised of cobblestoned streets, world-famous restaurants, and historic warehouse buildings converted into multi-million dollar lofts. This charming community is considered one of Manhattan’s hottest and priciest neighborhoods. It was recently ranked by Forbes as one of America’s most expensive zip codes 10013.
Architecture
The neighborhood is mostly dominated by former industrial buildings that have been converted into residential buildings and lofts, similar to those of the neighboring SoHo-Cast Iron Historic District. In the 19th and early 20th centuries, the community was a center of the textile/cotton trade.
Notable buildings include the historic neo-Renaissance Textile Building built in 1901 and designed by Henry J. Hardenbergh and the Powell Building, a designated Landmark on Hudson Street, built in 1892 and designed by Carrère and Hastings. At 73 Worth Street, there is a an attractive row of neo-Renaissance White Buildings built in 1865 at the end of the Civil War. Other notable buildings include the New York Telephone Company building on 140 West Street with its Mayan Art Deco motif, and the former New York Mercantile Exchange on 6 Harrison Street.
During the 1960s and ’70s, abandoned and inexpensive Tribeca lofts became a popular place to live for young artists and their families because of the seclusion of lower Manhattan and the vast amount of living space. Jim Stratton, a Tribeca resident during that time, wrote the 1977 nonfiction book entitled “Pioneering in the Urban Wilderness,” which details his experiences renovating lower Manhattan warehouses into residences.
Historic Districts
The Tribeca Historic Districts include a combination of four different historic zones within the Tribeca section of the borough of Manhattan. These districts are: Tribeca South & Extension, designated in 1992 and 2002; Tribeca East, designated in 1992; Tribeca West, designated in 1991; and Tribeca North, designated in 1992.
Sites and Attractions
- 32 Avenue of the Americas, an art deco building that is the former site of the AT&T Long Lines division.
- Holland Tunnel connecting New York to New Jersey has its entrances and exits in the northwest corner of Tribeca, centered around the intersection of Canal Street and Varick Street.
- Washington Market Park, bound by Greenwich, Chambers, and West Streets, is a 1.61-acre park in Tribeca that is popular with children for its large playground. The park also has community gardens and hosts a number of events.
- Metropolitan College of New York, a private, independent educational institution, located on Canal Street.
- Hook & Ladder Company No.8, this still in-use firehouse was the site of the filming of the Ghostbusters movies. Memorabilia from the movies is still displayed inside the building. Another film, Hitch, with Will Smith, also filmed a short but notable scene at the firehouse.
- New York Law School, a private, independent law school that was founded in 1891, has been located in several buildings in Tribeca since 1962, principally along Worth Street between Church Street and West Broadway.
- Borough of Manhattan Community College (BMCC), part of the City University of New York. The college campus is located between Chambers Street and N. Moore Street, spanning four blocks. BMCC’s Fiterman Hall, severely damaged in the September 11, 2001 attacks, was demolished and has since been rebuilt.
- 388 Greenwich Street, an office building near the northwestern corner of Tribeca that is the headquarters of the corporate and investment banking arm of financial services corporation Citigroup.
Not since builders stuck a mooring mast on top of the Empire State Building, eclipsing the Chrysler Building as the world’s tallest building, have developers been engaged in the type of skyscraper war that New York City is now witnessing. But unlike the rivalries of the early 20th century, when buildings pierced the clouds to house corporate headquarters, this one involves no less than three condominiums with penthouses on the 90th floor and higher, which are being built to woo affluent American hedge funders, Chinese magnates and Russian oligarchs. Two of the towers will rise above the 1,250-foot-high Empire State Building, by 300 feet and 146 feet, respectively (although when its lighting rod is included, the Empire State Building officially tops off at 1,454 feet).
Building the world’s tallest towers is not for the faint of heart, and for modern-day developers it might be the ultimate statement of ego. New York is a business town and for developers, economics play as large a role as their desire to leave a mark on the skyline. It’s an economic proposition, a business plan with logic behind it. One that does not appear to be an irrational fad.
So while marketing for these structures might have you believe that it’s all about which building can reach farthest into the sky, the reality is more nuanced than that. For a skyscraper project to be successful, many pieces of the development puzzle have to fall precisely into place. There is the often the lengthy and arduous process of buying air rights — or unused development rights — from adjacent properties; borrowing hundreds of millions of dollars in financing; and developing architecturally unique structures that can rise 90 stories or higher. The construction, meanwhile, includes costly techniques to prevent the buildings from swaying in the wind, along with thicker support walls and columns that can scuttle some layout plans. Then there is the pure physicality of hoisting laborers and materials 1,000 feet into the air, sometimes creating safety delays and hazards.
Considering these complexities, and the fact that the real estate market is just now beginning to recover from one of its biggest crashes in decades, the pace of the skyscraper competition is breathtaking. Trump World Tower, opening in 2001 at 861 feet high — its black shadow looming above the East River on First Avenue — held the title of the city’s tallest residential building until 2011, with the opening of 8 Spruce Street, the 870-foot rental building at the base of the Brooklyn Bridge. Since then, developers have started six different projects that will shatter 8 Spruce’s record.
And even those that don’t quite break that record, developers still market their height as a selling tool. At 56 Leonard Street, for instance, the condominium is only 821 feet in height but much has been made of the fact that it will be the tallest residential tower in TriBeCa, charging as much as $50 million for a penthouse. The competition is even spreading beyond Manhattan, with the tallest building in Queens, a 50-story condominium in Long Island City, currently under way.
SummerStage in Central Park is an annual concert series that attracts droves of music lovers from all over the world. Founded in 1986, the festival features performers that span a wide range of performance genres, from World and American music, to modern dance, to spoken work, to family programming. There is literally something for everyone at this amazing festival!
About Central Park SummerStage
Central Park SummerStage is an outdoor venue located at Rumsey Playfield. It sits just off the 5th Avenue and 69th Street entrance to the park. The closest subway to the festival entrance is the 6 train to 68th Street. The festival runs throughout the months of June, July, and August, and offers visitors more than 30 performing events – most free of charge. Shows go on rain or shine and are only cancelled if dangerous conditions, such as a lightning storm, are present.
Most of the concerts presented during the festival are privately funded, which means that you can attend most of the programs at no cost. A few of the bigger shows presented on the Mainstage do require admission fees. Here are some other things you’ll want to know before you attend:
- No tickets are issued for free events, but space is limited to a first-come, first-served basis. For popular events, lines form more than an hour before the gates open, so arrive early. Entrance to the events begins 90 minutes before show time on the weekends, and 60 minutes before show times on weeknights.
- Concessions are available inside Central Park SummerStage. This includes beer and wine for $5 and water for $2. You can also purchase and enjoy hot dogs, fries and other items.
- Festival attendees are welcome to bring their own water, food and blankets to enjoy a picnic dinner before or during the show.
- If you’d rather forgo the crowds, you can still enjoy the sounds of the music by grabbing a patch of grass outside of the Central Park SummerStage area.
Please be aware these items are NOT allowed at Central Park SummerStage:
- Coolers
- Cans
- Camcorders
- Glass Bottles
Upcoming Shows
Here’s a list upcoming performances at Central Park SummerStage:
- Saturday, August 3rd @ 3pm – The WLIB 6th Annual Gospel Explosion at SummerStage featuring Shirley Caesar, Ricky Dillard, James Fortune & F.I.Y.A., and Donald Lawrence (FREE)
- Sunday, August 4th @ 3pm – The WBLS 5th Annual R&B Fest featuring Raheem DeVaughn, Lyfe Jennings and special guests (FREE)
- Tuesday, August 6th @ 5pm – Disclosure, TNGHT, and Julio Bashmore (Tickets $30-$35)
- Saturday, August 10th @ 3pm – DJ Kool Herc and special guests, preceded by a panel “Hip-Hop Turns 40” (Tickets $15 including panel)
- Sunday, August 11th @ 3pm – Shuggie Otis, Jose James, Hiatus Kaiyote, and DJ sets by OP! (I Love Vinyl) (FREE)
- Friday, August 16th @ 8pm – Diablo Love (FREE)
- Sunday, August 18th @ 3pm – La Mega 6th Annual Tropical Fest (FREE)
- Monday, August 19th @ 8pm – Diablo Love (FREE)
- Tuesday, August 20th @ 7pm – Bobby McFerrin (FREE)
More Information
For more information about Central Park SummerStage as well as a full line-up and ticket information, please visit http://www.centralpark.com/guide/attractions/summerstage.html.
Produced by the Public Theater, the New York Shakespeare Festival (or Shakespeare in the Park) is a yearly event held at the Delacorte Theater in Central Park. Attendance is free and you can get tickets on the day of the performance. The festival includes two productions over the course of the summer. The first of the series, which was held May 28 through June 30, 2013, was the Comedy of Errors.
The second show started on July 23 and will run through August 18, 2013. This performance is a fabulous song-and-dance adaptation of another early Shakespearean comedy Love’s Labour’s Lost. The play is about a group of men who agree to forsake sex for scholarly pursuits (guess how that turns out). The team behind the show is writer-director Alex Timbers who was at the helm of the recently closed Peter and the Starcatcher, along with composer Michael Friedman who last collaborated on the very fun Bloody Bloody Andrew Jackson. If anyone can dust the cobwebs off an old story with style, it’s these two!
History of the Festival
The event was initially conceived by director-producer Joseph Papp in 1954. He started with a series of Shakespeare workshops then moved on to free productions on the Lower East Side. Eventually, the performances moved to a grassy area in front of Turtle Pond in Central Park. In 1959, parks commissioner Robert Moses demanded that Papp and his company charge a fee for the productions to cover the cost of “grass erosion.” A court battle ensued.
Papp continued to fight Moses and eventually won his enduring respect and the quote “well, let’s build the bastard a theater.” Following this, Moses requested funds from New York City for the construction of an amphitheater in Central Park. In 1961, the Delacorte Theater was built. The first show held in the theater in 1962 was Shakespeare’s The Merchant of Venice, starring James Earl Jones and George C. Scott.
Tickets
Tickets to Shakespeare in the Park are FREE and are distributed, two per person, at the Delacorte Theater in Central Park at noon on the day of the show.
Free tickets will also be available through the Virtual Ticketing lottery, accessible at the website below on the day of the show.
Date of the current performance:
July 23 to August 18, 2013
Location
The Delacorte Theater in Central Park is accessible by entering at 81st Street and Central Park West or at 79th Street and Fifth Avenue.
More info:
www.shakespeareinthepark.org
Recently a construction research firm sorted through building data for the country’s Metropolitan Statistical Areas (MSAs) to find the 10 places where the most money has been spent so far this year on new construction (from January through May 2013). Also a national magazine looked at the dollar amount of new construction starts, or projects where ground has been broken and work started, for structures that fall under the “Total Building” umbrella.
Total Building includes single-family home construction, multifamily home construction, retail space, office space, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities. The magazine did not include money spent on public works projects such as bridges, streets and parks, nor did it include electric utility construction.
Here’s a look at the top 10 going from lowest to highest:
10. Chicago, Ill., metro area
M.S.A.: Chicago-Naperville-Joliet, IL-IN-WI
2013 Construction Starts, January to May: $2.4 billion
Change, year-over-year: -5%
2012 Construction Starts: $7.1 billion
Change from 2011: 14%
Largest 2013 Project Started, to date: The Loews Chicago hotel-condominium tower.
9. Boston, Mass., metro area
M.S.A.: Boston-Cambridge-Quincy, MA-NH
2013 Construction Starts, January to May: $2.6 billion
Change, year-over-year: 28%
2012 Construction Starts: $6.7 billion
Change from 2011: 13%
Largest 2013 Project Started, to date: UMass Boston General Academic Building Number 1 (Dorchester, MA)
8. Phoenix, Ariz., metro area
M.S.A.: Phoenix-Mesa-Scottsdale, AZ
2013 Construction Starts, January to May: $2.6 billion
Change year-over-year: 8%
2012 Construction Starts: $6 billion
Annual Change from 2011: 10%
Largest 2013 Project Started, to date: Liv North Gateway Apartments (Gilbert, AZ)
7. Miami, Fla., metro area
M.S.A.: Miami-Fort Lauderdale-Miami Beach, FL
2013 Construction Starts: $2.8 billion
Change year-over-year: 36%
2012 Construction Starts: $6 billion
Annual Change from 2011: 77%
Largest 2013 Project Started, to date: Dezer Properties’ Porsche Design Residences (Sunny Isles Beach, FL)
6. Los Angeles, Calif., metro area
M.S.A.: Los Angeles-Long Beach-Santa Ana, CA
2013 Construction Starts, January to May: $3.2 billion
Change, year-over-year: -4%
2012 Construction Starts: $7.9 billion
Change from 2011: 23%
Largest 2013 Project Started, to date: Renovation of Delta Terminal 5 (Los Angeles, CA)
5. Atlanta, Ga., metro area
M.S.A.: Atlanta-Sandy Springs-Marietta, GA
2013 Construction Starts, January to May: $3.6 billion
Change, year-over-year: 80%
2012 Construction Starts: $4.9 billion
Change from 2011: -3%
Largest 2013 Project Started, to date: Baxter Blood Plasma Fractionation Plant at Stanton Springs (Covington, GA)
4. Washington, D.C., metro area
M.S.A.: Washington-Arlington-Alexandria, DC-VA-MD-WV
2013 Construction Starts, January to May: $4.6 billion
Change, year-over-year: 23%
2012 Construction Starts: $9.6 billion
Change from 2011: 15%
Largest 2013 Project Started, to date: Alterations to the International Monetary Fund Headquarters.
3. Houston, Texas, metro area
M.S.A.: Houston-Baytown-Sugar Land, TX
2013 Construction Starts: $4.8 billion
Change year-over-year: 8%
2012 Construction Starts: $11.1 billion
Change from 2011: 23%
Largest 2013 Project Started, to date: MD Anderson Pavilion (Houston, TX)
2. Dallas, Texas, metro area
M.S.A.: Dallas-Fort Worth-Arlington, TX
2013 Construction Starts, January to May: $5.2 billion
Change, year-over-year: 21%
2012 Construction Starts: $11.1 billion
Change from 2011: 22%
Largest 2013 Project Started, to date: Addition at T5@ Dallas Data Center (Plano, TX)
1. New York, N.Y., metro area
M.S.A.: New York-Northern New Jersey-Long Island, NY-NJ-PA
2013 Construction Starts, January to May: $8.5 billion
Change, year-over-year: 16%
2012 Construction Starts: $20.5 billion
Change from 2011: 11%
Largest 2013 Project Started, to date: Phase 1 of the Prudential Financial Office Tower (Newark, NJ)
There is a growing number of New Yorkers that are venturing into Pocket Listing when it comes to selling their homes.
Also known as “executive listing”, “quiet listing”, or “off-market listing”, this real estate term restricts access to a house’s sale information to only a select group of clients. Usually, the broker holds a signed listing agreement (or contract) with the seller to have “Exclusive Rights to Sell” the house, and the property will not be advertised or included in the multiple listing system (MLS).
Keep in mind that using the MLS has its disadvantages. As soon as a house is posted in the MLS, the clock starts ticking fast. Buyers actually believe that the longer a house is on sale (60 days or longer), the more they can make low-ball offers to the agent. Generally, what this means is that the longer a house sits on the market, the more its value declines.
Pocket Listing can solve this problem by helping homeowners avoid that “off the market” clock ticking on the background. It also helps protect the privacy of home sellers while allowing them better control of their prospects. Often, those who prefer Pocket Listings are high profile celebrities, politicians, or athletes.
HOW IT WORKS
Pocket Listing starts when a broker is hired to sell a property. Usually, a listing agreement is done in writing, and a specific broker is given the right to sell the property or house. No other compensation offers are given to other brokers, and the property will not be placed in the MLS. However, the real estate agent can use other marketing methods to announce the sale, such as holding a small open house, talking with other agents, or doing a private broker’s tour.
ADVANTAGES AND DISADVANTAGES
What makes Pocket Listing highly-advantageous for real estate agents is that they can collect both sides of the commission instead of splitting it with another agent, particularly if they sell the property to a client of their own. Even if they sell it through a colleague in their own firm, the full commission is still with the realtor (or brokerage firm, if that is their agreement).
The advantage to the home seller and broker is that it gives them ideas about market reception. Often, they use it to test the market and see the public’s reaction to the property price. If the public’s reception is unfavorable, then the agent has the option to enter the house in the MLS.
Another advantage is privacy. Pocket listings allow homeowners to sell their property without too much intrusion. This is mostly true in a slower market, where buyers mostly attract curious prospects instead of sure buyers.
The disadvantage for home sellers is traffic. Since pocket listings have relatively small numbers of potential buyers, the agents may not fulfill their duty to get the highest possible market price for their client. Consequently, they may only sell at a fraction of the property’s potential value.
Another disadvantage may be added cost. There are some cases where pocket listings may lengthen the sales cycle due to fewer buyers who see the home. This will cost more money in home maintenance and mortgage payments.
Pocket Listing can be an appealing alternative for home owners who value their privacy and comfort. Remember that listing a home can be time-consuming, since it requires some de-cluttering, redecorating, and initiating open houses. Pocket listing helps avoid all of that, and when given the right circumstances, can help save the home owner substantial money in the long run.
