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Volume 14: Issue 4 | April 14, 2014
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Manhattan Prices Surpass 2008 Peak
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It's official! Manhattan real estate prices are higher than ever. In the First Quarter of 2014, a record was set for both the average price and the average price per square foot; exceeding the peak in the second quarter 2008. Condominium values played a large role. The average price per foot for resale condos reached $1,420, a 13% increase from First Quarter 2013. Year-over-year, the median price increased 12% for resale condos and 15% for resale co-ops. Larger units in particular continue to post significant price gains; three+ bedroom units gained 25% in median price market-wide this quarter, compared to an 8% gain in studio units.
Downtown co-ops had the highest average price per square foot of all resale co-ops in the city. At $1,104, the average price per square foot was 17% higher than in the First Quarter of 2013. Median price grew year-over-year by 12%, with larger units again seeing higher growth: two-bedroom, and three- bedroom units saw median price growth year-over-year of 43% and 53%. Year-over-year average price of Downtown resale condos increased 10% to $1,603 per square foot. The median price of $1,768,000, up 2% since last year, was again the highest median resale condo price in the city. One-bedrooms were the only bedroom category to decline in median price, down 17%. Two- and three+ bedroom units grew 9% and 10% respectively. Provided below are the links to the complete first quarter Corcoran reports for both Manhattan and Brooklyn.
The Corcoran Report - First Quarter: Manhattan
The Corcoran Report - First Quarter: Brooklyn
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Firms Compete to Protect after Sandy
Since June 2013, ten teams of architects, landscape architects, engineers and urban designers have been working throughout the Sandy-affected region to develop innovative solutions to rebuild. On April 3, Rebuild by Design welcomed more than 1,000 people at exhibits and receptions to view the design teams' final proposals. Ideas ranged from a protective system with public spaces around the tip of Manhattan to a series of breakwaters along the coast of Long Island. The winning projects will be announced later in the year. Read More
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West Village Glamour
Inside Sarah Jessica Parker's Townhouse
Ever take an evening stroll through the West Village, peeking ever so subtly at the fabulous d�cor of those magnificent townhouses? If you're like me, those little glimpses beg for more, and now we have it with a tour of Sarah Jessica Parker's stunning West Village Townhouse. Ms. Parker recently invited Vogue to her home for a 73 question interview ranging from her thoughts on Parsley to Greece, and everything in between. The best part: she takes the interview while walking through her home: was that a ping pong table in the parlor? Enjoy! Read More |
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Entertainer's Haven in ABC Carpet
Follow the pink line down to the basement of ABC Carpet & Home, and you will find yet another wonderland inside this treasure of home goods: the new abcmkt. Opened quietly last November, abcmkt is a haven for foodies with a penchant for entertaining. It has a everything for the perfect dinner party, from artisanal non-perishables, to investment cookware, to heirloom place settings. For Paulette Cole, Creative Director at ABC Carpet & Home, abcmkt has been a dream in the making for several years. Every product in this retail market has a story, and the thread of commonality among them all is that they are somehow important to society as a whole in their own way, no matter how large or small. Preview the market yourself on the new review on Markets of New York. Read More
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Rare Corner Village Loft
250 Mercer - A202, $999,000
An extremely rare and spacious 1 bedroom corner LOFT in the heart of Greenwich Village/NoHo area. Eleven foot high ceilings accentuate the indirect light bouncing off of the neighboring buildings and streaming from both the North and West into your double exposure living/dining room. Views of Washington Square Park and village street scenes delight, as do beautiful hardwoods and the newly renovated chef's kitchen with over-sized window and abundant storage space including pull out pantry and shelving system. Closets are generous in the sizable bedroom, which also features three large windows. Additional amenities include same floor laundry, private rental storage in the basement, bike storage, common roof deck and courtyard, full-time doorman and live in super. Subletting, Pied-A-Terres and Guarantors Allowed. Read More |
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Jeff Nolan
Licensed Associate RE Broker
Multi-Million Dollar Club (2011-13)
Top 1% of NRT Sales Associate
Corcoran Group Real Estate
Union Square Office
30 Irving Place, 5th Floor, NY 10003
Cell Phone - 212.260.0562
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Active
233 East 70th Street, 15S
56 Pine Street - 7E (Financial District)
Recently Sold
155 W 66th Street (The Phillips Club)
300 East 74th Street, 19EF
233 West 26th Street, 8E
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Comforming 30 yr fixed: 4.375% |
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Conforming 15 yr fixed: 3.5%
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Jumbo 15 yr fixed: 3.375%
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Stephan Aroun Hagege
Private Mortgage Banker
Wells Fargo Home Mortgage
150 E 42nd Street, 32nd Floor
New York, NY 10017
Cell Phone - 914.417.9001
Office Line - 917.260.1121
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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.
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