|
emmasphere
...Summer in the City 2011 Edition...
|
|
|
|
|
|
| welcome to emmasphere | 
emmasphere is a newsletter dedicated to information, ideas and the idiosyncrasies of the new york city real estate market and everything that it encompasses. Emma Hamilton Malina (212) 500 7034 Missed a newsletter?
|
|
|
|
| Market Update |
Marketwide Summary - Contract activity remained even from last month for both condos and co-ops. Condos represented 47% of sales this month and co-ops represented the remaining 53%. The respective market share for condo and co-op sales has been constant since the beginning of the year. Condo and co-op inventory increased every month since the beginning of the year. However, condo inventory is 7% lower whereas co-op inventory is 12% higher than May 2010.
Condominium Market Snapshot - Condo median price increased year-over-year by 3% and is up 18% from last month. Condo sales in the $1M to $2M price range increased 68% from last month and sales under $1M dropped by almost 30%, which led to an increase in median pricing for May. Average sale price and average price per square foot were both down from last month and last year, as April 2011 and May 2010 had more sales over $3M.
Cooperative Market Snapshot - Co-op pricing fell this month in comparison to last month and last year, largely due to the unit sizes that traded in May. Studios saw a 41% increase in sales compared to April 2011 and a 32% increase compared to last year.
Negotiability Factor - across all price points has tightened from last year as pricing has become more efficient. In May 2011, the overall average discount between last ask to sale was -4.3% which is down from -6.9% last year.
Absorption vs. New / Total Listings - Listed market-wide inventory increased 3% from last year and 1% from last month. The percentage share of new listings coming to market each month has been steady since the beginning of the year. May was no exception with new listings representing 22% of the total listings.
|
| For SALE: Amazing 3 Bedroom, 2 Bath Carroll Gardens Duplex with Roof Deck & Balcony!! | |
Check out my absolutely gorgeous new Carroll Gardens duplex. Converted in 2007 and situated between Court & Smith Street's this modern gem is nestled amongst Brownstone Brooklyn and offers the best of everything. 3 bedrooms, 2 bathrooms - over 1450 interior square feet on two floors plus another 620 square feet of private exterior space on a balcony and roof deck.
The space, light and views are breathtaking!
OPEN HOUSE - TONIGHT!!!! 5:30 - 7:00PM
|
| For RENT: Massive Triplex in Former Synagogue - SHORT TERM SUMMER SUBLET |
 This absolutely stunning apartment situated within a landmarked former synagogue in the East Village is now available as a furnished summer sublet.
Featured in numerous design and architectural books and magazine, this one bedroom, one and a half bath, jaw dropping triplex with an amazing private terrace is clean and minimal all the while being extraordinarily welcoming,
Available from July through September for $8,000 per month.
|
| Green Space |  Now that Summer is upon us - that also means it's time to buy a new pair of shades!!! For those of you already familiar with TOMS shoes and their amazing commitment to providing one pair of shoes to a child in need for every shoe purchased - you'll be thrilled to know that they've just launched their next initiative. TOMS EYEWEAR - One for One. With every pair purchased they promise to provide the gift of sight to another person - be it through medical treatment, prescription glasses or a sight saving surgery. Learn more about the One for One movement here |
| Questions Answered |
 Dear Emma,
We're spending our entire Summer in the City this year - what are some of your favorite things to do that make you feel like you're left the city but you actually never leave the 5 boroughs?
Hot Child in the City
*********************
Dear Hot Child in the City,
Not entirely real estate related but nevertheless a very worthy question!!! These are a few of my favorite things:
Take the A train up to 190th Street and visit Fort Tryon Park and stroll through the beautiful flowers and trees, I've honestly never stepped foot into the cloisters but it's quite striking from the outside - as a foodie - I prefer grabbing brunch (and yummy bloody mary's) at the New Leaf Cafe.
Jump on a free ferry ride (from Manhattan or Brooklyn in less than 5 minutes) over to Governors Island (bring a bike or rent a bike) and just explore this crazy island that was until recently (19060's - 1995) home to the US Coastguard and the US Military for the previous 200 or so years. We love to hit up Stinky's or Sahadi's on our way to the ferry and lounge on one of the numerous lawns for a lovely, lazy picnic. There's always something fun going on - be it art, music, performance or otherwise.
Before we had a kid we used to love to jump on our bikes and jet up the West Side Highway (bike path) up to the George Washington Bridge and then back down for a margarita in the Meat Packing District. While you're there - check out the newly completed second phase of the High Line now going all the way up to 30th Street! In addition be sure to check out the "new summer hot spot" The Lot. Now that she's getting older - we hope to start up a new biking tradition.
According to a recent NYTimes article the A train will also get you to the Rockaways in Queens which is fast becoming a new local summer (anti-Hamptons) getaway spot.
A few other ideas..... hopefully they'll run the ferry again to the US Open - such a treat, Bronx Zoo Cobra, Neighborhood Tours (another great and fun way to explore various neighborhoods is to check out a few Open Houses, how about a Food Truck Tour..... or the possibilities and ideas are endless.
Happy Summer,
Emma
|
| Need More Room? |
 As Corcoran is owned by NRT (the world's largest residential real estate brokerage firm) I can make any connection in any town for anyone. Is someone you know moving to Chicago? Is your pregnant sister in California in need of a bigger place? Are your friends in Vermont getting married and need to make a move to a larger place? Or perhaps your grandparents in New Jersey are thinking of selling and getting a place in Florida? If you know someone who needs to make a move, let me know. I'll work tirelessly to find the perfect broker for you or them.
Need a great referral in Anytown, USA??
|
| Car Sharing |
Join Zip Car and get $25 worth of driving credit - beep, beep, zoom, zoom
|
|
As always, if you're considering buying, selling, or investing in New York City real estate, or just checking in to say hello, please reach out to me anytime.
Feel free to forward this newsletter and my contact information to your family and friends who might be interested as well. I'm always available as your resource. Corcoran Group Real Estate 36 East 12th Street - 3rd Floor New York, NY 10003 O) 212 500 7034 C) 917 297 4875 F) 212 230 7322
All materials presented herein are intended for information purposes only and have been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice.
|
|
|
|
|
