The Clincher, Also Known as Closing

July 25, 2013 | New York Times
For first-time buyers, closing on a home purchase can be like finishing a long and grueling race. There’s the thrill of achievement mixed with relief that it’s over and, often, the weak limbs that can come with handing over a shockingly large check. Read More…

Colorful History of Central Park, NYC

Central Park in NYC is in the middle of Manhattan, and has been open since 1857. Central Park is the urban park that receives more visitors than any other park in the U.S. Originally, the park was build on 778 acres of land owned by the city of Manhattan—Central Park is now 840 acres. Calvert Vaux and Frederick Law Olmstead were the architects who won a design competition hosted by the Central Park Commission to improve the park and make the area larger. They named their architectural design the Greensward Plan. 1857 was also the year that the Greensward Plan efforts on the park began, and the design efforts continued during the Civil War until they were finished in 1873. The two designers also designed Prospect Park in Brooklyn.

The park was declared a National Historic Landmark in 1962, and is managed by the Central Park Conservancy, which is in contract with the Manhattan government. The Central Park Conservancy is a nonprofit, and contributes to more than 83% of the park’s annual budget of $37.5 million. The nonprofit organization also employs 80.7% of the maintenance staff for Central Park.

Central Park was not included in the Commissioner’s Plan of 1811. However, NYC’s popular nearly quadrupled between the years of 1821 and 1855. But since the park wasn’t part of the 1811 Commissioner’s Plan, surveyor John Randel Jr. surveyed the park—visitors can still see the only surveying bolt of his that remains in the park. The bolt is located in a rock that is north of the Dairy and 65^th street Transverse. As Manhattan grew and flourished, people were attracted to Central Park for its open space, as it served as a place of solace from the hustle and bustle of life.

William Cullen Bryant, a poet and Evening Post (now the New York Post) editor, expressed the city’s need for a public park, as did Andrew Jackson Downing, who was the first landscape artist in America. A number of affluent New Yorkers echoed the sentiments of these men, agreeing that there was a need for a large, open space in the city of New York, similar to Hyde Park in London or Bois de Boulogne in Paris. There was an attempt in 1850 and 1851 to dedicate Jones’s Woods in New York as a park area. The state legislature agreed that this 700-acre area would be a park; the land cost $5 million.

Central Park remains one of the most appealing tourist attractions in New York, and in the U.S. Central Parks North, South and West border the main park area; Fifth Avenue is on the right of the park. Around 35 million visitors come to the park every year.

 

 

 

 

 

 

 

160 East 22nd Luxury Condos in Gramercy Park

Gramercy Park has long been one of Manhattan’s most luxurious and prestigious neighborhoods.  The focal point of the area is the lush gated park, and old brownstones and mansions lend these streets beauty and sophistication.  The luxury condos at 160 East 22^nd Street capitalize on the allure of the neighborhood, and residents will enjoy how this building blends into and complements the neighborhood’s atmosphere.

About Gramercy Park

Gramercy Park is home to the only private park in Manhattan.  While the neighborhood is named after the park, there is much more to it than that.  Gramercy Park offers excellent restaurants and convenient subway and bus access, and is in close proximity to Irving Place, Stuyvesant Square, Union Square and Madison Square.

About 160 East 22^nd St.

The luxury condo tower features an exterior of Indiana limestone, while the interior boasts an unconventional mix of modern and classic high-end finishes.  The building was designed by S9, an affiliate of Perkins Eastman Architects, PC, and was developed by Toll Brothers City Living.  The unique 25 foot cantilever of 160 East 22nd frames the neighboring buildings along Third Avenue and forms the distinctive lines that define this upscale condo development.

Community Amenities

160 East 22^nd Street offers residents a wealth of luxury community amenities, which include:

• Children’s playroom, designed to emulate Gramercy Park with child-sized benches and plenty of toys
• Fitness Center with state-of-the-art equipment
• Lobby with refrigerated storage for your groceries
• 24 hour concierge service
• Professionally landscaped rooftop terrace with 360 degree Manhattan views, including the Empire State Building
• Grilling stations on terrace with plenty of seating and lounge areas for eating
• Sunbathing area on terrace with chaise lounges and a lounge area with couches
• Anticipated LEED Certified green building with Low VOC emitting paints, sustainable building materials, locally sourced materials, high efficiency HVAC systems, rooftop rain retention system, bike room, and ENERGY STAR rated appliances

Residence Amenities

160 East 22^nd offers studio, one-, two-, and three-bedroom residences.  They have all been thoughtfully designed with comfort in mind.  Some of the incredible amenities found inside the residential units include:

• Floor to ceiling windows
• 5” white oak wood floors
• Solid core walnut finished apartment entrance doors
• Solid core wooden interior doors with wooden trim
• Bosch Efficient  ENERGY STAR washer and dryer in each unit
• Open kitchen with islands for extra countertop space
• Custom white satin lacquer cabinetry
• Natural honed basaltina stone countertops
• Sub-Zero refrigerator
• Miele cooktop and oven
• Miele hidden, silent dishwasher
• Sharp undercounter microwave drawer
• Grohe faucet
• Smoked glass backsplash
• Designer pendant light fixtures in kitchen
• Master bath with 8” rain showerheads
• Porcelanosa faucets
• Persian natural white marble floors and walls
• Bianca Perla marble feature wall in master bath
• Kohler soaking tubs with stone deck
• Custom satin lacquer wooden vanity
• Toto low flow toilets
• Kohler accessories
• Recessed bath storage nook in secondary baths

Transportation Information

160 East 22^nd is easily accessed by several subway stations, including:

• 6 at 23^rd St.
• N/R at 23^rd St.
• L at 3^rd Ave.
• L/N/Q/R/4/5/6 at 14^th St./Union Square
• F/M at 23^rd St.

 

How to Make a Small Space Look Larger

If you want your home to look larger than it actually is, it’s important to show off every square foot of your listing so that buyers can visualize enough room for all of their belongings. Staging pro experts state that homeowners often crowd spaces with oversized furniture, bulky accessories, and piles of clutter that wind up making a room look much smaller than it really is.

So how can you make your space look bigger? Besides the obvious of removing clutter, try these simple ideas:

1. Scale down furniture: Having too many large pieces of furniture in a small room can make a space feel more cramped. Choose smaller-scale furniture over chunky, large options. A great choice: unskirted chairs or furniture with wooden legs so that you can see through the furniture to the floor underneath will open up the space.

2. Beware of patterns that are overly busy: Large floral patterns, big prints and bold plaids on accent pieces and fabrics can be too busy for a small space. Use texture in fabrics to add interest and stick to solids.

3. Lighten Up: Dark colors absorb the light making smaller rooms look even smaller. Lighter colors on walls — such as light blues, creams, light greens, tan, and soft yellows — help expand the room. Plus, cooler, softer tones are soothing and relaxing.

4. Add height: Add tall pieces to show off the height of the space. Whether it’s a piece of furniture such as a bookcase or an object like a tall plant, the height of the object will automatically draw the eye upwards. Also in a home where you want to show off height, hang the curtains above the normal window top level. Then to give a widening effect, tie the curtains back with a rope tieback.

5. Use the reflection: Hang mirrors on walls to add visual space. When the room is reflected in the mirror, it’s almost as if you can see ‘another room’ in the mirror. Mirrors also reflect views and light, which help lighten up the room and make it feel open and airy.

Can A Real Estate Agent Afford a Social Media Hiatus?

As an early adopter of social media in all of it’s forms (Facebook, Twitter, Google+, Pinterest, Instagram, Vine, SnapChat and so on), I have always believed in the incredible power of the medium to build and foster relationships. As a person who makes a living based on relationships, it seems counter intuitive to turn my back on social media. Yet that is precisely what I have decided to do…for one week! I know, I know! I just re-read that and laughed at myself. How pathetic that I’m writing a blog post about a one week hiatus from social media but for this husband, dad, and broker/owner, this is HUGE! Just ask anyone who knows me and is “connected” to me on any of the aforementioned social media sites. Not to mention that I have done considerable business as a direct result of social media, or have I?

Yesterday at 12:36PM I posted my last status update for the week. Several people reached out to me with varying reactions. Mom asked “why? it is the best way for me to know what is happening in your life?” A friend emailed “good for you because Facebook is like crack for a crack ho to me!” Others emailed that they would miss me and another jokingly emailed “good riddance, I’m tired of your posts anyway!” Hey wait! Maybe that wasn’t a joke? To my mom I promised I would answer ALL of her phone calls and we could actually talk like “old times.” To my friend I could only admit that I too consider myself an addict of Facebook. To those who declared that they would miss me I responded with my cell phone number and an invitation to lunch. You see, I am craving the intimacy that comes from sincere face to face relationships with friends and family and social media in my case should be deemed anti-social media. I rarely speak on the phone to my own dear mother who I simply adore. My sister and I have never been more distant because our communication is exclusively via social media. I haven’t see my best friends in months. My wife and kids complain endlessly that my smart phone and tablet seem to be more important than them. Once this week of social media abstinence is complete, I will not only reduce the 1500 “friends” that I have on Facebook but I also hope to limit my time on these various sites and actually have more REAL conversations and communication with family and friends and maybe even build some new relationships the old fashioned way: by talking. So far so good.

Just over 24 hours has passed and the results are quite pleasing and very telling. Last night I, my wife and our two children sat down to dinner together. We spoke with the kids about their days at camp. I wasn’t distracted nor did I feel the need to post some witty status update on Facebook. After dinner, my wife and I sat at the table conversing for a good 15-20 minutes…WOW! A phone-less trip to get ice cream insured that my daughter and I were truly together as we chatted and laughed. Time without electronics allowed me to explain the Home Run Derby to my son who rarely has ANY interest in sports. Since I wasn’t checking social media sites, I was in bed and asleep before 11PM. After a great night’s sleep, I awakened without running straight to my phone or tablet to check messages, status updates, or the responses to MY status updates. Nope, none of that! I then sat, listened and participated in a morning meeting, took the subway to the office, met with a new agent, edited a new exclusive agreement, sent a paid invoice to a recent client, replied to numerous emails, paid bills, wrote a gratitude list (something I like to do daily but often don’t because of anti-social media distractions), and now I am writing this blog post! “Big deal” you say? If you know me that is EXACTLY what you said and for various reasons not the least of which is that I am typing this blog post.

You see, it has been more than 6 months and likely closer to 9 months since I have written any original content for this blog. This blog from which I can actually measure the amount of business that I have done as a direct result from my posts. One of my most favorite couples came to me via this blog. She a best selling author and he an accomplished writer in his own right found me by searching real estate blogs via Google. I sold their home, helped them purchase a new home, and sold them a studio as a guest quarters. Their friends also purchased a home with me thanks entirely to the original connection I made via this blog. It feels good to write again and specifically more than 140 characters.

So if the first 24 hours of SM abstinence is any indication, this real estate agent can not only afford a social media hiatus but I would bet my eye teeth that this will be a healthy, productive and educational week in which I will have ample time to spend with my family, my customers and colleagues, and old friends, not to mention all of the time that i may have for blogging, reading and maybe even some genuine relaxation. If you doubt me, remember that LIFE cereal commercial and just call me “Mikey!”

Koreatown: A Unique Part of Manhattan

Koreatown, Manhattan

Koreatown is a neighborhood of New York City’s Manhattan borough. The ethnic Korean hub is located by 31^st and 33^rd Streets, the Avenue of the Americas and Fifth Avenue. The area is primarily a Korean business district. However, in recent years, the area has seen a significant increase in both European and Korean traffic. The population of residents in Koreatown has also grown substantially.

Surprisingly, there has never been a formal agreement for the creation of Koreatown in Manhattan. The spot is popular tourist attraction, as it is close to the Empire State Building, Penn Station, Madison Square Garden, Macy’s Herald Square and the Garment and Flower Districts. This section of New York City became a prime location for Korean immigrants, and Koreatown itself was initiated by the opening of a Korean bookstore and several restaurants that opened in the 1980s. The success of these businesses prompted other Korean business owners to establish their companies in the neighborhood, and these businesses continued to thrive due to the increased immigration of individuals from Korea. Property values in Koreatown have also increased due to the substantial business development there.

The center if Koreatown is part of the 32^nd Street, between Broadway and Fifth Avenue. This area is officially nicknamed “Korea Way.” Korea Way is only one city block long, but features multi-story stores and restaurants, which causes the area to closely resemble Seoul. According to the New York City Korean Chamber of Commerce, there are projected to be more than 100 small businesses on Korea Way.

The street of Korea Way features a number of restaurants that serve both regional and traditional Korean fare, as well as Korean fusion cuisine. There are several bakeries, grocery stores, bookstores, supermarkets, outlets, video rental shops, stationery and tchotchke shops, and hair and nail salons. Koreatown also has noraebang bars and nightclubs, which are among the ideal places for you and your friends to party if you’re in New York City. There are around 12 restaurants on Korea Way that are open 24/7.

Restaurants include the BCD Tofu House, part of a chain of Korean restaurants that started in Los Angeles. According to the New York Times, this is one of the best places to go for a late night/early morning meal. The restaurant is located at 17 West 32^nd Street. You can call the restaurant for more information at 212.967.1900. Cho Dang Gol is another Korean eatery you should visit the next time you’re in Koreatown. The food is reasonably priced, and the tofu is made on-site. You’ll find the restaurant at 55 West 35^th Street and can make reservations or call to inquire about specials by calling 212.695.8222.

 

 

Rental Guide to Manhattan Rentals and Leasing

If you are thinking about renting in New York City, there are a few things you should think about and prepare in order to secure an apartment.  Here’s a look at what you’ll need – and need to know – to get a great place in the Big Apple.

Consider Cost vs. Location

Cost is huge consideration when looking for a rental unit in New York City.  A large portion of your income is going to be used for your rent, there’s no escaping that fact.  New Yorkers spend up to 1/3 of their income just for rent. While you may wish to live in Manhattan, the reality is that it is extremely difficult to find an apartment under $1,000 in a good neighborhood – and that’s with roommates.  Living alone will cost you substantially more.

To keep costs down, consider looking at apartments in the other boroughs or even New Jersey.  In these neighborhoods you are more likely to find an affordable apartment, and the commute will still be fairly minimal.

Access to Transportation

When looking for an apartment, save yourself trouble down the line by looking at places near train stations.  You’ll also want to make sure the train line is one that is reliable – some run on time, and some just don’t.  Consider whether or not you are willing to walk ten minutes or more to the nearest train station.

Convenience is Key

You’ll also want to consider what kind of conveniences are located near your potential apartment.  Is it close to banks, shopping, restaurants, and Laundromats?  How far is it from your job?  The average commute time in New York City is about 40 minutes, so keep that in mind.  While you may want to be close to your job, sometimes it’s better to be near the necessities.

Also consider whether or not you want to be close to the nightlife, or if you want to live in a quiet neighborhood.  Does the neighborhood feel safe?  Would you feel comfortable walking back to your apartment alone at night?

Be Prepared for the Application

The New York City rental market is incredibly fast-paced.  Once you find an apartment you like, you must move quickly.  Apartments can go in the blink of an eye, don’t be left out in the cold by not being prepared for the application.  Here’s what you will need to have on hand:

• Driver’s license or passport
• Letter of employment on company letterhead, including your salary and start date
• Letter of acceptance from your school if you are a student
• Copies of pay stubs for the past three months
• Reference letter from a previous landlord
• Back-up letters of reference from people in your business and personal life who can speak highly of you
• Your most recent tax returns
• Bank statements from the last three months
• Completed rental application
• First and last month’s rent
• Security deposit

If you are lacking any of these documents, you may still qualify for an apartment by securing a guarantor.  This is the designated person who will pay your rent if you do not.  The rule of thumb is that landlords want renters who make 40 times the rent; guarantors should make 80 times.  They should also live in the area.

While finding an apartment to rent in the city can be a daunting task, if you are prepared with information and the necessary paperwork, you’ll have a much easier time finding your new place.

Using Comps To Price Your Manhattan Apartment

When you decide to put your Manhattan apartment on the market, it may be confusing trying to determine what the listing price should be.  Home prices have fluctuated so much over the past few years due to the housing market crisis that it can be difficult to know just what your home is worth today.

The best way to determine how to price your Manhattan home for the market is to look at comps.  Comps, or comparables, are generally thought of as the best tool for determining your home’s value.  Comps look at criteria from other properties in your area that have recently sold, such as the sale price, the age of the apartment, the size and the overall square footage.

Start Your Comps Search

A great place to begin your search for comps is the internet.  There is a wealth of information online about real estate that is public knowledge.  You can search closing prices, a building’s sales history, and read forums about housing prices in your area.  Here’s a look at some great online resources for finding comps to help price your Manhattan apartment.

• Streeteasy – Streeteasy is a website that allows you to search properties by neighborhood, zip code, address, building, street, or even commute time.  While access to the site is free, you will have to pay a small fee of $10 per month to access more detailed information, such as sales prices.
• ACRIS – Acris allows you to search by deeds, mortgages, and liens, among other information.  While the site contains a lot of useful information and official documents, it can be tough to navigate.  You’ll need to know a property’s borough/block/lot in order to access specific information.
• PropertyShark – This website allows you to get basic information for free upon sign-up.  However, if you want to get comp information you will need to pay for their monthly access which runs about $65 per month.
• New York Times – The New York Times allows users to search properties by address, borough, neighborhood, or date range.  It is a great place to start for a basic search.
• Trulia and Zillow – These well-known websites will show you properties that are currently on the market in your area.  While this information can be quite helpful, it doesn’t always deliver when looking specifically for comps.

How to Use Comps

To determine the value of your apartment, find homes that are similar in size, condition and location that have recently been sold in your area.  Take a look at three similar properties that have sold within the last six months, and compensate for the differences .  For example, if one of the comps has 100 square feet less than your apartment, find out the cost per square foot in your neighborhood and add that to your home’s value.

Keep in mind that this is a simple approach to determining the value of your apartment.  An appraiser can do a more thorough search and determine a value that is slightly different than yours.  However, by doing some searching on your own beforehand, you can reasonably expect to get a good idea of what your listing price should be.

 

 

Townhouses Listed for $10+ Million on Westside

If you have millions of dollars, say around $11,000,000, what do you plan to do with it? Some may say that they will have the grandest vacation at the best place on Earth. But for practical individuals, getting a home is the top priority. And if you narrow the options down to two, how do you make up your mind? Choosing a home is indeed a challenge, especially if you’re already down to two houses. There are many factors that can affect your decision. These include the price, the location, the neighborhood, the interior, the appeal of the home and so much more.

In deciding between two multi-million dollar homes, it’s time for a Real Estate Deathmatch.

There are two eight-digit listings for renovated grand townhouses on the same Greenwhich Village block appearing within 24 hours of each other. It would definitely be a shame not to match them up. So, here it goes. Let’s go to the general details of each home.

62 West 12^th Street

Let’s first look into the first home, the more expensive option. This home is located at 62 West 12^th Street, on a lovely neighborhood. The price is about $11,250,000, not cheap at all. Taxes amount to $2,276. There are 4 bedrooms and three and a half bathrooms. The house was built way back in 1839. The vintage appeal actually adds to the value of the home.

This 62 West 12^th Street home is quite smaller and more expensive, but obviously with less tax. It is a single-family home. It comes with more renovation. Some of the features of the home include an elevator and an 18-foot glass atrium. The listing comes with a description of “yesteryear”, which is definitely eye-catching for potential buyers.

76 West 12^th Street

Just around the corner, in the same neighborhood is the home at 78 West 12^th Street. The price is a little cheaper compared to the first one, which is about $10,695,000. The taxes amount to $2,980. There six bedrooms and four bathrooms, definitely more space compared to the other one. The house was built during the same time frame as the first, which was in the year 1943.

This particular home appears to be separated into three different apartments with an owner’s duplex located on the top two floors. It has retained more of the original details of the home. But as previously stated, it is bigger when it comes to the square foot size of the property.

How to Decide

Well, it all boils down to what the buyer needs. Of course, the aesthetic appeal of these homes also count and play huge role when it comes to deciding which home to buy. We can’t argue on the price of the homes since there is only a small difference, that is if one million is small for you. Both homes have a vintage appeal, since these were built way back in the 1930s to 1940s. If ever you’re interested in buying one of these homes, it is best to go to the homes and talk to the real estate agents. 

The Bronx Zoo – A Great Summer Getaway

• Location: Fordham Road and the Bronx River Parkway
• Visiting time: summer season from 10 am to 5 pm.
• Admission: $11-$17
• Website: http://www.bronxzoo.com/

Located in one of New York’s most famous boroughs, the Bronx, the Bronx Zoo is one of the largest in the world and it features more than 4,000 animals and over 650 international species. Spread on more than 107 ha (265 acres), the beautiful recreational spot includes wild habitats and park lands surrounded by the Bronx River.

Historical Facts about the Bronx Zoo

The zoo is part of a popular integrated system that comprises four zoos and an aquarium administered by the WCS (abbreviation for the Wildlife Conservation Society) and accredited by the AZA (the Association of Zoos and Aquariums). In the past, the land on which the zoo is built was owned by the Fordham University that sold it to the City Hall for an insignificant amount of money ($1,000). The sale was done under one condition: to use all lands to create a zoo and a botanical garden.

Initially referred to as the Bronx Zoological Park, the zoo was opened in November 8, 1899 and it featured 22 exhibits with a total of 843 animals. The buildings were designed in the Beaux-Arts style and were grouped around a huge circular pool designed for sea lions. The Rainey Memorial Gates were designed in 1934 by the famous sculptor Paul Manship, as a tribute to Paul James Rainey, a popular hunter. These gates were later included in the National Register of Historic Places.

Zoo Activities and Attractions

The Bronx Zoo is highly appreciated by families, kids, and adults alike. Children are charmed by sea lions, the dinosaur safari experience, summer camps and more. Besides, the Zoo Center provides visitors with useful information about the earliest days of the zoo. Some of the must-see features and exhibits of the Bronx Zoo are:

• Congo Gorilla Forest
• Zoo Shuttle
• Wild Asia Monorail
• Butterfly Garden
• The Bug Carousel

Meeting incredible gorillas can be a unique experience, and luckily for you, by visiting the Congo Gorilla Forest you’ll get the chance to wander through 6.5 acres of typical rainforest where you’ll feel as if you were in Africa. The Congo wildlife safari features a wide range of surprises and you’ll certainly enjoy trekking beneath canopies of leaves or through amazing sprays of mist.

The Zoo Shuttle is an express tour of the Zoo meant to help you catch your breath and relax. The trolley provided by the zoo travels the distance between Zoo Center and Wild Asia, and it makes a stop somewhere near Tiger Mountains. With only one ticket, you have access to unlimited rides that take place several times per day. Besides, senior citizens can enjoy the Zoo Shuttle for free.

Enjoy the Wild Asia Monorail Experience & Butterfly Garden

If you want to sit back while you travel around forests, riverbanks, mud wallows and pastures, the Wild Asia Monorail is the perfect option. All you have to do is admire the views and pay attention to the guide who will help you spot all kinds of animals such as rhinos, elephants and tigers.

Are you charmed by butterflies? Butterfly Garden is the perfect place to admire a large number of butterflies and other interesting insects in a spacious greenhouse that makes you feel as if you were on a wild meadow. Besides, inside the greenhouse you’ll get the chance to listen to some classical music that matches the environment perfectly. Another important attraction is the Bug Carouse, where children can ride a wide range of huge bugs. The flight will be unforgettable since the chariots are reminiscent of all types of crawlies such as bright green grasshoppers and praying mantis with extremely long legs.