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The Minute DC | NY:
Washington & New York on Your Doorstep |
| Andrea Saturno-Sanjana |
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| Capital to Capital. A Higher Standard. Bespoke Service. |
Licensed in DC | MD | VA | NY | (212) 888-0550 | (202) 696-0701 | andrea@realnydc.com
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Brick Underground Condo Pick of the Week | Greenpoint, Brooklyn
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The Glass House, a boutique Greenpoint condominium, is so named for its oversized windows, and this super-contemporary two-bedroom, one-bath seems to benefit from the design.
A wall of glass fills the loft-like space--the ceilings are 17 feet--with sun, highlighting its gleaming floors, fixtures, and appliances. The apartment's price is right on target for the neighborhood, judging by a StreetEasy search. Just remember that in a couple years, the nearby G train will likely be flooded with passengers impacted by the L shutdown.
In the bright living room, the suspended lighting fixtures lend an industrial edge to the sleekness. The open kitchen has room enough for a dining area, plus upscale appliances and a solid amount of storage space. The floating staircase, a striking design element, brings you to a mezzanine, which serves as a semi-private office nook. (Brick Underground)
Click here to learn more
Delighted that Brick Underground chose to showcase this wonderful home!
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Prime Property | 2017 NYC Residential Market Predictions
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In 2016, one of the biggest issues facing New York City's residential market was the weakening demand for ultra-pricey properties. Next year, according to residential listings website StreetEasy, the biggest issue will be how that slowdown will adversely impact the rest of the market.
Resales prices will stay stagnant
The median resale price in Manhattan is forecast to rise just 0.6 percent to $985,585 over the next 12 months, according to StreetEasy. Brooklyn's median sales price will rise 3 percent to $579,609, while the median sales price in Queens will go up 4.4 percent to $339,717. In the Bronx, the median sales price is forecast to fall by 1.4 percent to $195,095.
Rents will go north, but not by much
Landlords who pegged their hopes on rents rising significantly in 2017 will be disappointed. StreetEasy is projecting that while rents will go up across all boroughs, it will occur at a slow pace. Manhattan's median rent will hit $3,310 per month in 2017, a year-over-year increase of 2 percent, according to StreetEasy. Brooklyn's median rent is set to reach $2,899, an increase of 1 percent from 2016. In Queens, the median rent will be $2,444 next year, a rise of 2.4 percent. The Bronx will see the biggest increase, according to the website. The borough's median rent is set to hit $1,708, a jump of 3.7 percent.
Brooklyn stays "hot" for buyers and renters, while Manhattan cools off
Kingsbridge in the Bronx topped StreetEasy's annual list of the city's 10 "hottest neighborhoods," while places in Brooklyn took six of the spots. (TRD)
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Photography | The World in a Droplet of Water
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You've heard about having the world at your doorstep, but what about having the world in a water droplet? Serbian photographer Dusan Stojancevic has managed to do just that. Stojancevic experimented with macro photography, turning his lens to tiny water droplets in front of city landmarks.
The result is the capture of highly recognisable buildings, but bizarrely contained within the fragile walls of a bubble. The imaginative project began when he focused his camera on his hometown of Belgrade, where he quickly discovered that he'd stumbled across a point of view that nobody had thought of before.
Stojancevic captured the spirit of New York City through its soaring architecture, with shots of the Empire State Building, the Flatiron Building, Grand Central Terminal and the Brooklyn Bridge shrunk into the tiny droplets. (BBC)
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Pantone Color of the Year | Greenery
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A refreshing and revitalizing shade, Greenery is symbolic of new beginnings.
Greenery is a fresh and zesty yellow-green shade that evokes the first days of spring when nature's greens revive, restore and renew. Illustrative of flourishing foliage and the lushness of the great outdoors, the fortifying attributes of Greenery signals consumers to take a deep breath, oxygenate and reinvigorate.
Greenery
is nature's neutral. The more submerged people are in modern life, the greater their innate craving to immerse themselves in the physical beauty and inherent unity of the natural world. This shift is reflected by the proliferation of all things expressive of Greenery in daily lives through urban planning, architecture, lifestyle and design choices
globally. A constant on the periphery, Greenery is now being pulled to the forefront--it is an omnipresent hue around the world.
A life-affirming shade, Greenery is also emblematic of the pursuit of personal passions and vitality.
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Washington Market Summary for December 2016
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Manhattan Residential Sales Market Report Q4 2016
2016 ended much as it began--with a variety of mixed signals indicative of shifting market conditions.
Average price per square foot was up 6% year-over-year. But its 1% quarter-over-quarter change reflects the steadying of price per square foot since the beginning of the year. Median price dropped 8%, and has had declines every quarter since its peak in First Quarter 2016, as fewer large apartments closed. The number of closed sales and contracts signed both decreased versus Fourth Quarter 2015. However, versus a quiet Third Quarter 2016, the number of contracts signed rose. Inventory increased by 16% from Fourth Quarter 2015 to 5,865 active listings. The increase in available inventory, combined with a fall in sales, led to units spending an average of 95 days on the market--a week longer than a year ago.
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Citi Habitats
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Brooklyn Residential Sales Market Report Q4 2016
The Fourth Quarter in Brooklyn stayed on trend with the rest of 2016, where the high end of the market expanded and the low end of the market tightened.
Buyers had more choice of apartments, especially in the luxury sector and in new developments, which throughout the year replenished the shrinking lower priced resale inventory.
Inventory continued its ascent through the end of the year, growing 13% from Fourth Quarter 2015, however not all segments of the market gained additional listings.
A factor in the year-over year sales decline was the lack of apartment listings priced under $500,000.
The result was a quarter that closed out a year of market wide record setting prices, yet with slower sales overall.
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Citi Habitats
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Manhattan and Brooklyn Residential Rental Market Report Q4 2016
Overall rents in Manhattan and Brooklyn continued to trend downward.
When comparing December to the previous month, pricing decreased the most for studio apartments, where rents fell 2%. Average rents for one- and two-bedroom units experienced a minor 1% drop, while average pricing for three-bedroom homes increased by a minimal amount.
In Brooklyn, rents for studio and three-bedroom apartments fell 2% since November, while they declined 1% for one- and two-bedroom units.
However, most tenants still paid more for Manhattan apartments then they did in the previous year. Studios rented for 7% more on average in December 2016 than during the same period the year prior. Rents for one- and two-bedroom homes increased in price by 2%, while pricing for three-bedroom homes remained stable year-over-year.
Incentives helped boost the market during the December lull. In December, many building owners took a proactive approach to the use of incentives, and their usage increased month-over-month. In fact, the percentage of leases that included a concession hit 35%, the highest level since April 2010. While Manhattan rents declined and the overall vacancy rate increased, both shifts were relatively minor month-over-month, thanks in part to the savvy use of incentives.
However, the Manhattan vacancy rate remained at a level not seen since 2009. The Manhattan vacancy rate reached 2.13% in December 2016, which is a slight rise from November's rate of 2.11%. However, vacancies across the borough are still comparatively high--historically speaking. The last time this much inventory was available on the market was in April of 2009, when 2.28% of homes were available for rent.
"The most recent data for December shows there is considerable local demand for rental housing. However, there is still a disconnect between the rents that landlords want to achieve and the pricing tenants are willing to pay, which is why concessions remain a significant force in the marketplace." --Gary Malin, President of Citi Habitats.
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In 1900, the tire
manufacturers André Michelin and his brother Édouard
published the first edition of a guide for French motorists. At the time, there were fewer than 3,000 cars in France
, and the Michelin guide was intended to boost the demand for cars, and thus for car tires. For the first edition of the Michelin Guide, the brothers had nearly 35,000 copies printed. It was given away free of charge, and contained useful information for motorists, including maps, instructions for repairing and changing tires, and lists of car mechanics, hotels and petrol stations.
In 1926, the guide began to award stars for fine dining establishments. Initially, there was only a single star awarded. Then, in 1931, the hierarchy of zero, one, two, and three stars was introduced. Finally, in 1936, the criteria for the starred rankings were published:
* "A very good restaurant in its category" (
Une très bonne table dans sa catégorie):
** "Excellent cooking, worth a detour" (
Table excellente, mérite un détour)
*** "Exceptional cuisine, worth a special journey" (
Une des meilleures tables, vaut le voyage).
Here are two Michelin-starred restaurants to try.
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NY | Grand Central | Agern
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Agern, meaning "Acorn" in Danish, is a season-driven restaurant and bar, located at Grand Central Terminal, tucked away between Vanderbilt Hall and the 42nd street southwestern passageway entrance.
The menu, from the hands of Icelandic head chef Gunnar Gíslason and his team, features farmed and wild ingredients from the New York State region exposed to time-honored techniques and flavors rooted in Nordic Cuisine.
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DC | Adams Morgan | Tail Up Goat
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Tail Up Goat is the type of spot where you can just as easily grab a quick bite on the way home or settle in for a more leisurely celebration.
The food and drink are soulful and sophisticated with a special emphasis on pasta and bread along with idiosyncratic, food-friendly tipples and soft drinks.
You are just as likely to discover something new and wildly unexpected as settle into a stunning take on an old forgotten favorite.
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| I would personally like to thank you for taking the time to view this email. If you're thinking of buying or selling, you need an agent who knows my hometown of Washington and my adopted home of New York like no one else. I'm that agent. It would be my pleasure to assist you with all of your real estate needs.
I pride myself on cutting through the hassles of buying or selling and providing my clients with exceptional customer service. Let me earn your business.
Andrea
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