Volume 18: Issue 5 | May 2018
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For May, we are packed with market data, real estate news, new listings, apps, stats, Cider, concessions, Italian design, and boat bars! We have monthly snap shots for both Manhattan and Brooklyn to keep you up to date on the latest and the very exciting first quarter rsults for both boroughs.
 
While some sectors of the market continue to soften, Brooklyn buyers seem to still be struggling to find apartments that meet both price and location requirements. This has continued to push buyers further out into the borough, and subsequently, keeps pushing prices higher in these neighborhoods.
 
We also reveal the most expensive neighborhoods in New York, show you an app that gives you the down low on an area before you buy, and have very good news for those looking to rent.
 
For news that isn't strictly real estate we cover the latest design trends spotted during Milan design week, tell you about a new Bushwick hot-spot where you "catch" your cider and let you know the best places to sip drinks on the water (now that the weather is finally getting nice).
 
As always, we have our featured listings. Our first is a beautiful one bedroom apartment in prime Williamsburg with a massive out door space for under $1,000,00. The second is  a charming and bright one bedroom rental on the Lower East Side. We hope you are enjoying the lovely change in the weather. Happy spring to ALL!

Manhattan Q1 
First Quarter Corcoran Report
The Manhattan market saw reduced sales, inventory on the rise and price statistics settling down. Meanwhile, days on market dropped slightly, indicating that appropriately priced properties are still finding buyers, while overpriced properties linger. Buyer hesitation persisted.   Read More
Brooklyn Q1
First Quarter Corcoran Report
Sales were above the five-year average for Q1, and. inventory continued to drop. This left many buyers struggling to find apartments that met both their price and location criteria. This pushed some buyers deeper into the boroughs, and caused others to take a hiatus, hoping for more inventory in the spring.  Read More  

Manhattan Markets 
Monthly Market Analysis (April)
Contracts signed dropped annually in March for both product types, with condos seeing a larger decline. However, condo pricing metrics were up, with both average and median price increasing. Days on market increased for condos, reaching the second highest point in the last 12 months.  Read More
Brooklyn Update
Latest Monthly Market News (April) 
The Brooklyn market experience a year-over-year increase in contracts signed for the third consecutive month. strong new development sales in South Brooklyn sustained from the previous month into mark. However price metrics showed mixed trends compared to March 2017. Read More  

Design in Milan 
The Ultimate Furniture Guide
Milan Design Week recently featured the most cutting edge designs for furniture, lighting and home furnishings. Couldn't make it to Milan? Not to worry! We have a roundup of all of the designs that were trending last week. Pick and choose your favorites to update any space in your home Read More
Concessions Galore
~50% of Landlords Now Negotiating
The ever changing landscape of LIC and the inevitable L train shut down in Williamsburg has left the rental market in turmoil for the past 7 months. Landlords are feeling the heat and working with concessions or all kinds to keep the rents stable and vacancy rates low.
If you've been thinking of moving... 
Read More


Neighborhood App Supreme
Before You Move - Learn About the Hood
Thinking of moving to a new neighborhood? Be sure to check it out on the newest app to give you neighborhood information. Localize gives you all sorts of information at the click of a button, and helps you to avoid pitfalls that you might not otherwise notice during your 15 minute apartment visit.  Try it here!
TriBeCa Still Reigns
Most Expensive Neighborhoods
PropertyShark just put out its quarterly report of the city's priciest neighborhoods, and once again, Tribeca has emerged on top. where do you think Fort Greene landed? PropertyShark determines the most expensive neighborhoods based on median sales price, and Tribeca took first @ $3.5 million.  See More

Brooklyn Cider House
Basque Inspired Food and Cider
Brooklyn Cider House is a bar, brewery, and prix-fixe restaurant in a converted warehouse in Bushwick. The bar's up front and the industrial dining room is at the back. Betwee courses you'll head to this tasting room to "catch" your cider as it streams out of the giant vats.   Read More
Best NYC Boat Bars 
Eat, Drink and Merrily Float
When the weather is nice, all you want is to leave New York behind for some time on the water. We've got your guide to the city's best seasonal boat bars. Try one or all of them now that the weather is finally starting to get nice!  We've outlined our must-see spots for you to visit For More Details

Outdoor Oasis in Williamsburg
125 North 10th Street, NGD @ $999,000
This over-sized, South-facing one bedroom, one bath has 815 square feet of interior space, as well as an additional 390 square feet of private outdoor space. Facing into the courtyard, street noise is eliminated, creating a serene outdoor oasis. We will have our first showing this Sunday 1-2 PM.  Learn More
Prime LES Condo Rental
Bright and Beautiful 1 Bed for $3,250 
Here is a great opportunity to rent a tasteful, bright and quiet, west facing one bedroom, located in the heart of the Lower East Side. The apartment is sun-flooded for much of the afternoon with great light throughout the day. The bedroom is large enough for a King sized bed, available July 1st.   Learn More


Jeff Nolan
Licensed Associate RE Broker
Multi-Million Dollar Club Since 2011
Top 1% of 47,000 NRT Associates

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
125 North 10th Street, NGD
133 Essex Street, 503
1609 Bergen Street, 2

In-Contract-Out
215 East 81st Street, 2A
125 N 10th Street, N5F
613 Baltic Street, 6C
255 Cabrini Blvd, 4A
11-48 Welling Court (TH)
66 Overlook Terrace, 1A

Recent Transactions
555 Main Street, 512 (Roosevelt Isle) 
48-15 11th Street, 6E
245 E 54th Street, 21B
140 Rutland Road (Townhouse) 125 North 10th Street, SGE
125 North 10th Street, S5D
125 N 10th Street, SPHF
689 Ft Washington Ave, 4K
125 N 10th Street, N2B
930 St. Nicholas Ave, 57
58 Metropolitan Ave, 6F
255 Eastern Parkway, B6
1607 Bergen Street, 1
333 E 30th Street, 2P
632 Central Ave (Townhouse)
984 Bergen Street (Townhouse)
MARKET RATES
Contact us for Private Mortgage Banker recommendations in NYC.
Conforming 30 yr fixed: 4.125%
Conforming 20-Year Fixed: 3.990%
Conforming 15-Year Fixed: 3.875%
Non-Conforming fixed: 4.5000%
Non-Conforming 10/1 ARM: 3.625%
Non-Conforming 7/1 ARM: 3.500%

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.