20 East End Avenue, designed by renowned architect, Robert A. M. Stern (famous for 15 Central Park West, 520 Park and 220 Central Park South), is one of the most elegant new developments in Manhattan. The Upper East Side condo building will feature only 43 units, mostly larger, stately apartments (including two townhomes with separate entrances) with some of the best finishes we have seen in Manhattan.
Manhattan’s rental-to-condo conversion craze has continued unabated, amid rising prices, the lack of available buildable land, and low condo inventory. Over the last year, major new condo conversion projects have been announced at a record pace throughout Manhattan, from the Upper West Side all the way down to Battery Park. To-date, the driving force behind the conversion trend was a number of economic challenges and opportunities; however, a major new policy shift is set to fuel even more conversions, creating a huge opportunity for both building owners and future buyers.
At 777 feet tall, this iconic glass tower will be an elegant addition to the Madison Square Park skyline. The floor-to-ceiling glass design grows progressively wider toward the top of the building and towers over most of the surrounding buildings, given the low-rise neighborhood where it is located in NYC. The Madison Square neighborhood is very much in vogue and now the epicenter of NYC’s rapidly growing technology sector. 45 East 22 Street will be a welcome addition to the neighborhood where both One Madison and 10 Madison Square West - two other tony new luxury condominiums in the neighborhood - have had great success.
New York unemployment rate hit the lowest level since the dark days post-Lehman in November 2008. The seasonally adjusted unemployment rate in New York dropped to 6.8% in September 2014. The 1.8-point year-over-year drop took place at the same time the labor force expanded by 0.8%, suggesting a much greater improvement than can be discerned solely from the unemployment rate. The declining unemployment rate has, in part, put upward pressure on rents and prices of New York real estate. Manhattan rental rates for September are up 5.2%, while condo prices are up 7% (on a price per square foot basis).
Manhattan housing prices continued their rise at a decent pace in the 3rd Quarter, as demand outstripped resale inventory supply. While the number of New York properties for sale was up significantly in the quarter, most of the new inventory entering the market has been for new construction projects that won’t be delivered for another year or two. Anyone who is currently in the throes of a property search will know that the number of properties available for immediate occupancy is very low. While the sales pace in the 3rd Quarter relaxed compared to last year, the market is still very competitive, with more than 50% of the properties closing at asking price or higher and over 50% of the condo deals closing in cash.
We are very excited to announce for the third year in a row that Manhattan Miami Real Estate has won the category of Best Real Estate Agency Website in the USA 2014-2015 at the International Property Awards regional ceremony held in Los Angeles, California on September 19, 2014. As the highest-scoring winner in the USA, Manhattan Miami Real Estate will automatically be entered into the International Property Awards final competition and compete against all other regional winners for the coveted title of World’s Best.
Anchoring the eastern end of Billionaire’s Row, this long-awaited 65-story luxury tower by World Wide Group and Rose Associates will soon rise at 252 East 57 Street on the corner of Second Avenue. Designed by Skidmore, Owings & Merrill (SOM), the building’s most distinctive feature is its curved glass façade, making it one of the most unique New York City luxury properties in terms of architecture.
Designed by Thomas Juul-Hansen, the Danish modernist architect responsible for designs at 50 West Street and 505 West 19th Street, as well as the interiors of One57, 210 West 77 will rise 18 stories between Amsterdam and Broadway on West 77th Street in New York. This is an area that has few New York condos for sale, so this building will be very welcome addition to a great Upper West Side neighborhood that is home to Zabars, Fairway, Apthorp, Museum of Natural History and, of course, Central Park.
Agentfolio provides a unique collaboration experience between our homebuyers and Manhattan Miami Real Estate agents. With Agentfolio, the entire home buying process becomes a much more efficient and pleasant experience. Agentfolio has all of the available New York properties for sale in its databases. In addition, Agentfolio is the only real estate platform that allows multiple people involved in a home search to collaborate in a central place, rather than crowded email inboxes.