Volume 14: Issue 1 | January 13, 2013
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New Year, New Insights into the Manhattan Market
Happy New Year! If you have been thinking of selling your Manhattan home, 2014 may be the year you have been waiting for, as short supply means high prices. The 4th Quarter of 2013 saw available residences in Manhattan decrease in number for the twelfth straight quarter (three years) as well as more contracts being executed than at the same time a year ago, an increase that has been ongoing for eight quarters. In addition, new development sales are pumping up luxury sales and resulting in dramatic price gains at the high end. Buyers looking for a residence need to be tenacious and aggressive in their pursuit.  Whichever you may be, I invite you to contact me with your questions about the Corcoran Report and on the market in general. For further information, I am pleased to share the entire Fourth Quarter Corcoran Report with you. Read More
  
 
Buildings for Billionaires
Redefining Ultra Luxury

A new crop of ultra-luxurious New York high rises vying to be the next hot "it" building are attracting billionaires from nearby as well as abroad. Compared to other cities, NYC has always been a class unto itself when it comes luxury real estate. The luxury sales market, comprised of the top 10% of the market, typically above $2 million, continues to dominate the market. Last year, however, we saw a dramatic and unprecedented shift in the price of luxury homes in NYC, ushering in the era of Ultra Luxury.  Read More


Seller's Market 
A textbook case of supply and demand

It is not your imagination, housing in New York City is tough to find these days, with the fourth quarter reporting available listings at a 14 year low. With such limited supply, those that are available are being bought at a record pace resulting in the highest number of sales ever documented in the 4th quarter. While this clearly makes 2014 a great time to sell, buyers should be comforted to know price increases have been recorded at the top 10% of the market, with the rest of the city's inventory remains stable. Read More
  
  
  
  
Jean Paul Gaultier
Debuts at The Brooklyn Museum
  
The Brooklyn Museum is the only East Coast venue for The Fashion World of Jean Paul Gaultier: From the Sidewalk to the Catwalk, the first international exhibition dedicated to the groundbreaking French couturier. Playful, poetic, and transformative, Gaultier's superbly crafted and detailed garments are inspired by the beauty and diversity of global cultures.This multimedia exhibition is organized around seven themes tracing the influences on Gaultier's development-from the streets of Paris to the cinema-since he emerged as a designer in the 1970s. Read More
Crown Heights Gem
970 Park Place for $899,000

This amazing Crown Heights 4-story, 4-unit brownstone gem is in tremendous condition with great rental income. It is an SRO property currently operated as a five family with two studio rentals on the top floor, a single room rental, a completely renovated floor through 1 bedroom in mint condition on the third floor and an owner's duplex on the parlor and garden. The entire building overflows with pre-war detail; there are bay windows in the front and rear of the home, original shutters, mantles, wainscoting, medallions, the works! Only cash offers are being considered. Read More
Jeff Nolan

Jeff Nolan
Licensed Associate Real Estate Broker
Ranked Top 1% of NRT Sales Associate

corcoran group real estate
Union Square Office
36 East 12th Street, NYC 10003
212.260.0562    212.500.7022
[email protected]
CURRENT LISTINGS  
Active
435 East 65th Street, 6K
1 Bedroom 1 bath for $450,000

970 Park Place (Townhouse)
4 story, 4 units for $899,000

In Contract
155 West 66th Street (The Phillips Club)
Executive 1 Bed 2 Bath 

Recently Sold
300 East 74th Street, 19EF
233 West 26th Street, 8E
31 West 31st Street - 4th Floor
22 North 6th Street, 7F
145 East 84th Street, 9F
689 Fort Washington Street, 4K


Market Rates
Comforming 30 yr fixed: 4.375%
Conforming 15 yr fixed: 3.5%
Jumbo 30 yr fixed: 4.125%
Jumbo 15 yr fixed: 3.375%
Jumbo 5/1 ARM: 2.675%
Stephan Aroun Hagege
Private Mortgage Banker
Wells Fargo Home Mortgage
150 E 42nd St., 32nd Floor
New York, NY 10017
917.260.1121     914.417.9001