Jeffrey R Nolan, Licensed Associate Real Estate Broker at The Corcoran Group
Volume 14: Issue 11 | November 21, 2014
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So Much to Be Thankful For...

Thanksgiving is upon us, and along with football and turkey it is a good time to take stock and say thank you. First and foremost, I am thankful for you: my friends, family, clients, and colleagues. It has been a great year, and none of that would be possible without you. Thank you for your support, your business and of course, your referrals.

I am also thankful I am in the business I am in. Spending my days helping people find their dream home, or sell their home to follow life's next step, is truly a gift, which I am grateful for daily. 

 

I am also thankful my profession gives me the opportunity to see so many inspired homes! Architecture, Design and D�cor all come together to create my commodity of choice: real estate,  and so we come to the topic of todays newsletter: D�cor, Design, and the Curation of a one's abode. I have started things off with a tour of Issac Mizrahi's Greenwich Village home for inspiration, followed by shopping guides for both local NYC Stores as well as a virtual sourcebook for every home good imaginable. Having visited many of both the brick and mortar and online purveyors in my own design quests, I can tell you, the intel is good. Have a wonderful Thanksgiving, give thanks, enjoy the food, friends and family, and when all is said and done, treat yourself (and your home) to something not advertised in a Black Friday Sale, something unique and perfectly you...happy designing!

 

Co-ops Strong in Manhattan, Brooklyn Marks Highest Average Price!

 

While Condo prices were slightly down last month due to a prior surplus of listings over $3MM, Co-ops continued to enjoy price increases due to low inventory and high demand. In October this was most prominent in one bedrooms co-ops, up 18% versus last October, due to increasing demand for more affordable product. Market-wide inventory has increased since last month as well as last year, although nearly all of this growth is due to condo listings as co-op inventory remains flat. Contracts signed are up 3% year-over-year overall, but again split by market: condo sales are down 8% while co-op sales are up 13%. The increase in co-op sales has kept pace with inventory, keeping co-op listings near historic lows while the decrease in condo sales has supplemented the growth in available listings.

 

In Brooklyn, October achieved the highest average price since the inception of this report in August 2010. Average and median 

sale prices increased, year-over-year, 29% and 17%. One and three plus bedrooms achieved a 14% increase year-over-year 
while two bedrooms had a 13% increase. Even with the 6% decrease in studios the average price per square foot increased 
year-over-year by 12%, to be the second highest average in 2014. 71% of buyers paid at or above asking price in October. 
Days on market from list to sale continued to shrink, decreasing by 14% compared to last October.

  

Monthly Market Snapshot for October: Manhattan

 

Monthly Market Snapshot for October:  Brooklyn                 

   
 
Home with Issac Mizrahi
A Tour of Greenwich Village Perfection

 

We start our journey through the world of design with a little inspiration: Issac Mizrahi's 2600 sq ft apartment in the heart of Greenwich Village. The home, set in a historic 1931 building just off Sixth Avenue, looks perfectly proportioned and brand-new, but it is actually an amalgamation of three apartments that was 20 years in the making. Interestingly enough, he started in a one bedroom, then bought the studio two doors down, dreaming of the day when the apartment in between would become available. When it finally came on the market, he pounced and began work on his current, sprawling layout. Tour Home 

A Designer's Source Book
38 Best Home D�cor Shops in NYC 

Racked impressed us with this very well edited list of the 38 best home stores for EVERYTHING in your apartment from terrariums to dishtowels. They left off many of the larger chains like the Container Store, Home Goods and Sur La Table, as well as most one designer stores, with a few exceptions, in order to help you find all of those wonderful one of a kind New York City gems. The neighborhood shops with carefully crafted show rooms, filled the work of local artisans and craftspeople. The kinds of places where you find that one thing that is so perfectly you, you can hardly believe someone else thought to make it! View List
    
 
And for Everything Else...
Best Virtual Sources for Design & D�cor
 

Of course you've heard of Wayfair and Overstock, but there are many  less known, predominately online retailers designers have been relying on for years. This list from HGTV Magazine is a great resource for anyone sprucing up their home, whether tackling a whole d�cor makeover, or just in need of some new bedding to liven things up again. As a bonus they include a list of the 8 best Etsy shops online as well! A few great sites that didn't make the list: 1stdibs.com for high end, one of a kind lighting, art, antiques and furnishings, and the private sale sites onekingslane.com and jossandmain.com. Happy hunting!! View List 

Stunning UES Duplex!
300 E 62nd Street #2303
 
Stunning Upper East Side duplex with  17' ceilings and Northeastern exposures. The first floor of this this 1 bedroom, 2 bath apartment is dedicated to entertaining with a beautiful open kitchen, living room, and full bath. The kitchen features custom wood cabinetry, granite counters, dishwasher, Sub-Zero refrigerator/freezer, and gas stove. Climb the custom-made, floating staircase to find a spacious bedroom with an en-suite bath and 2 large closets. Keep the sound proof glass windows closed for privacy, or open them for a loft feel. Both full baths are of spa quality with marble counters and glass showers. View Listing

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
Office Line - 212.500.7022
jeff.nolan@corcoran.com
CURRENT LISTINGS  
Active
300 E 74th street, 23F

In Contract
125 N 10th street, S2G
278 Hawthorne Street (Townhouse)
250 W 94th Street, 13E
9040 Fort Hamilton Parkway, 6E
50 W 127th Street, 8B
400 E 54th Street, 7D
180 Woodpoint Road, 1R

Recently Sold
649 Vanderbilt Avenue, 2B
305 Second Avenue, 725
425 E 79th Street, 7A
749 Union Street, 3L
970 Park Place (Townhouse)
315 W 70th Street, 15K
690 Riverside Drive, 5E
198 11th Street (Townhouse)
250 Mercer Street, A202
749 Union Street, 1L
Market Rates
Comforming 30 yr fixed: 4.375%
Conforming 15 yr fixed: 3.5%
Jumbo 30 yr fixed: 4.0%
Jumbo 15 yr fixed: 3.375%
Jumbo 5/1 ARM: 2.5%
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

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.