201 East 21st Street, Unit 15E


201 East 21st Street, Unit 15E

GRAMERCY PARK, MANHATTAN

1 Bed  |  1 Bath

Offered At $755,000


 

Don't miss the opportunity to purchase a spacious one-bedroom, one-bathroom home in one of Gramercy's best postwar cooperatives.


The opportunities are endless in this expansive approximately 850-square-foot corner unit with tons of oversized windows along the northern and western exposures. High ceilings, fresh paint, refinished floors and brand-new windows provide a great starting point for your imagination. The living room, dining room and king-size bedroom are move-in-ready, and there's abundant storage space throughout the apartment. Bring your contractor to plan the spa bathroom and open, enlarged open kitchen of your dreams!


Quaker Ridge is a revered postwar co-op known for its stellar financials and low maintenance. Residents enjoy full-time doorman service and live-in superintendent, modern laundry facilities, private storage, bike storage and a residents-only parking garage with direct access to the building. Quaker Ridge allows co-purchasing and pets but does not permit guarantors or pieds-à-terre.


Please note, the maintenance includes a monthly energy charge of $76.


Set in the heart of Gramercy — with immediate access to the Flatiron District, NoMad, Union Square and the East Village — fantastic shopping, dining and nightlife are all within easy reach. Gramercy Park, Union Square and Madison Square Park offer outdoor space, phenomenal greenmarkets and year-round events, and transportation is superb with 4/5/6, N/Q/R/W and L trains all nearby.

The Monthly Update - August 2019

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What’s Going To Spark The NYC Market?

Why Aren’t You Buying; Should You Buy or Hold Off? 


There’s been lots of debate about what kind of market we’re currently in. It’s definitely a buyer’s market, but there are still many who are completely perplexed about why that is and what they should do about it. 


Buy: Interest rates are slated to go down at the end of this week. It’s most definitely going to happen. But at the same time, buyers are already getting incredibly low rates. I just had a closing where a gentleman got 2.75 percent on a Wells Fargo loan! So the Fed is going to double down on already historical low rates, which should have a positive impact on today’s market and your buying power!


Hold Off: There’s currently more inventory out there for buyers to choose from than there has been over the last eight years. This is not usually a great thing for buyers to see. To spur transactions, fewer choices are healthier for the overall market. 


Buy: Sellers are more negotiable now than they have been over the last three to four years, so get out there and make offers! . 


Hold Off: If you have an investment portfolio, the returns on that portfolio are up 50 to 100 percent in some cases. Could this be why potential buyers aren’t pulling money out of the market to make down payments on apartments?


Buy:  Rental rates have been stagnant. But they are finally starting to increase, and landlords are now scaling back the incentives once necessary to rent their properties. This could be the spark that ignites the buyer’s market as rental rates climb to match monthly mortgage and maintenance rates. 


Hold Off: And yet properties continue to linger on the market. Especially if they’re not competitively priced, which puts the onus back on the buyers to bid the property for what they think “market-value” should be. But they don’t, so homes just sit. And if they sit, the prices will continue to fall, in theory. 

Buy: And yet it’s never been a better time to buy! Property values are down 20 percent in many segments of the marketplace. Interest rates have never been lower and are slated to go down even further. Inventory is plentiful, and there’s plenty to choose from, which means the buyers should be out shopping!

Holding Off: But they aren’t pulling the trigger. Also, 2020 is an election year. Could that mean more reductions in listing and purchase prices as election years usually bring uncertainty to the market? Will interest rates go up next year? Maybe, but that’s not likely in an election year. 

Buy/Holding Off: I’ve said it many times before: Timing the market is a very dangerous thing to do. Borrowing money is cheaper than it has been and sellers are very negotiable off of the sale prices. It truly is a buyer’s market … so why aren’t you buying?


Local Events

Summer Streets
August 3, 10, 17, 2019

For three weekends in August, the city closes Park Avenue and Lafayette Street to cars so you can play, run, walk, and bike from Brooklyn Bridge to Central Park. Summer Streets features food, entertainment, and activities for the whole family. Read more here.

Central Park Conservancy Film Festival

August 13 - 15, 2019


Hosted in recognition of the Conservancy’s ongoing commitment to the public, the Conservancy Film Festival features three family-friendly films and is free to the public. Event is subject to cancellation due to weather. Click herefor more info and the full schedule.


News & Must Reads

Compass Raises at $6.4 Billion Value as Brokerage Race Heats Up

The new funding round values the company at $6.4 billion, setting the stage for an eventual initial public offering. The money will help Compass, which has raised more than $1.5 billion in total, to continue building a software platform to streamline the process of buying and selling homes, the company said in a statement. That includes investments in cloud, mobile and artificial intelligence, as well as support for a new consumer app expected to launch in August.

 Read more here.

The Greatest Rooms of the Century


From the home of Charles and Ray Eames to Frida Kahlo’s Casa Azul, Phaidon's list includes interiors that span dozens of countries and a broad range of show-stopping styles. Read more about the spaces in Dwell, here.

The Must-Have Tools Every Gardener Should Own

With a little effort, some steady attention, and the help of a few trusty garden tools, anyone can nurture their greenspace into whatever they want it to be, whether that’s a vertical garden or an edible one. Read more here with Real Simple.



Fed Cuts Rate By A Quarter Point

KEY POINTS

  • The policymaking Federal Open Market Committee drops the target range for its overnight lending rate to 2% to 2.25%, or 25 basis points from the previous level.

  • The Fed cites “implications of global developments for the economic outlook as well as muted inflation pressures” in its first rate cut since December 2008.

  • The Fed also leaves the door open to future cuts, saying it will “act as appropriate to sustain the expansion.”

  • The central bank also ends its balance sheet reduction two months earlier than planned.


The Federal Reserve lowered its benchmark rate by a quarter point Wednesday as an insurance policy not against what’s wrong with the economy now, but what could go wrong in the future. It was the first rate cut by the central bank in more than a decade.

Amid President Donald Trump’s intense political pressure and persistent market expectations, the policymaking Federal Open Market Committee dropped the target for its overnight lending rate to a range of 2% to 2.25%, or 25 basis points from the previous level.

In approving the cut, the FOMC cited “implications of global developments for the economic outlook as well as muted inflation pressures.” The committee called the current state of growth “moderate” and the labor market “strong,” but decided to loosen policy anyway.

The stock market dove later in the afternoon when Fed Chair Jerome Powellnoted that the cut was simply a “midcycle adjustment” and that the committee did not see the type of marked economic weakness that would necessitate a longer rate-cutting cycle.

The rate is tied to most forms of consumer debt and is likely to almost immediately have an impact on lowering credit costs.

Research Shows How Much You Need To Earn To Afford A Two-Bedroom Apartment In NYC

Manhattan requires the second-highest income in the country to afford an average two-bedroom apartment. A new report from SmartAsset analyzed how much a household needs to make in order to afford rent in the 25 largest cities in the United States. In Manhattan, New Yorkers would need to earn an annual salary of at least $162,857 to afford the average two-bedroom rent in the borough, currently around $3,800 per month.

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The main findings in the report show that in the country’s most expensive cities, earning the median income is not enough to avoid being “cost-burdened,” making it more difficult to afford other necessities like food and medical care. According to the Department of Housing and Urban Development, a household should not spend more than 30 percent of its income on housing costs.

If 50 percent of a household’s income is spent on rent, it falls under the severely cost-burdened category, according to HUD. While some have argued this measurement simplifies how affordable housing is defined, the number continues to be widely used today to determine who is cost-burdened.

In its report, SmartData set a 28 percent rent-to-income ratio to create its rankings. The group found that a household in Manhattan, and not taking into account the outer boroughs, would have to earn at least $162,857 per year to pay rent that hits 28 percent or less of their income. The problem, however, is that the median household income in the borough is roughly half of that amount, at $85,071 per year.

New York falls second to San Francisco, where an average two-bedroom apartment goes for a staggering $4,593 per month. Residents in the Bay Area need to make at least $196,843 per year to avoid being cost-burdened. Despite raking in the highest median household income on the list at $110,816, San Francisco residents still fail to meet this threshold.

See how much a household would need to make in order to afford rent in the 25 largest cities here.

Ranking The City’s Most Dangerous Intersections For NYC Cyclists

Just days after Mayor de Blasio unveiled a new plan to make the city’s streets safer for cyclists, another fatal accident occurred when a 30-year-old cyclist was struck near the intersection of Third Avenue and 36th Street in Sunset Park around 9 a.m. this morning. As Streetsblog reported, the incident brings the year’s death toll up to 18—nearly double what it was all of last year. Redesigning intersections is a component of De Blasio’s new $58 million initiative, which says it will ramp up NYPD enforcement at the 100 most crash-prone intersections and renovate 50 intersections. While the Department of Transportation hasn’t yet disclosed what those intersections will be, home-search platform Localize.city has created a list of the top ten most dangerous intersections for cyclists.

“Experts and the city already know where the dangerous intersections are and what makes them so unsafe. Our job at Localize.city is to ensure all New Yorkers are informed,” says urban planner Sam Sklar, who works at Localize.city. “If you’re thinking about taking up cycling you should know if the intersections and streets near your home are dangerous. If you’re moving and cycling is important to you, we want you to find a home that will be safe to cycle to and from.”

The company’s team of data scientists and urban planners has evaluated the relative safety of each intersection based on the number of bicycle injuries and fatalities over a five-year period, from 2014 through 2018. Two recent cycling fatalities occurred at intersections considered to be among the most dangerous for NYC cyclists, one in Chelsea and one in Staten Island, according to the analysis. Their top ten, listed below, were all locations in Manhattan and Brooklyn.

1. 6th Avenue & West 23rd Street, Chelsea, Manhattan – 21 Injuries

“Twenty-third street is wider than streets parallel to it, and it’s the main east-west route for delivery vehicles,” says Sklar. “This multiplies the risks. While not reflected in our data from 2014 to 2018, this intersection was the location of a fatal crash between a cyclist and a truck driver just last month.”

2. (Tied) Jay Street & Tillary Street, Downtown Brooklyn, Brooklyn – 20 injuries

“This is a crowded intersection along a key route for people cycling over the Manhattan or Brooklyn bridges. While some bike lanes are marked, such a major bike route needs to be protected with better-marked lanes,” says urban planner Dan Levine.

2. (Tied) Atlantic Avenue & Bedford Avenue, Crown Heights, Brooklyn – 20 injuries

“The bike lane on Bedford Avenue is not separated from traffic and is wedged between car-travel lanes. It’s unprotected on either side, and as riders cross the six-lane Atlantic Avenue, they’re expected to maneuver toward the curb. But often cars in a left turn lane actually turn back into traffic, creating a risk for cyclists,” says Sklar.

4. 3rd Avenue & East 14th Street, East Village, Manhattan – 18 injuries

“New bike lanes along East 12th and East 13th Streets should offer a safer route, at least for cycling crosstown. Even with bike lanes on neighboring streets and avenues, the high number of crashes shows this is a route many riders are travelling,” says Levine.

5. (Tied) Chrystie Street & Delancey Street, Lower East Side, Manhattan – 17 injuries

“Chrystie Street has a two-way bike lane, and the lane closest to traffic rides against traffic flow, which is a huge design flaw,” says Sklar. “It doesn’t help that Delancey Street is extremely wide, as it accommodates car and bus travel to and from the Williamsburg Bridge. Additionally, there isn’t currently any bike lane on this stretch of Delancey Street.”

5. (Tied) St. Nicholas Avenue & W. 141st Street, Harlem, Manhattan – 17 injuries

“As one of the few places where a crosstown street crosses St. Nicholas Avenue, this intersection likely sees more turning cars and trucks, which can be especially dangerous for people on bikes. Bollards and better-marked crossings could help turning drivers see riders,” says Levine.

7. (Tied) Allen Street & East Houston Street, Lower East Side, Manhattan – 14 injuries

“Cyclists and drivers approaching this intersection often have obstructed views because of the width of East Houston Street, plus the width of East First Street along with obstructed views from street trees and bus traffic that potentially blocks views for drivers and cyclists,” says Sklar

7. (Tied) Graham Avenue & Grand Street, Williamsburg, Brooklyn – 14 injuries

“On narrow, crowded, business-lined Grand Street, riders contend with double-parked cars and trucks and blocked bike lanes,” Levine says

7. (Tied) Jay Street & Myrtle Avenue, Downtown Brooklyn, Brooklyn – 14 injuries

A bike lane was added in 2016 to help shore up the commuter route along Jay Street. It is physically separated from the auto traffic and is wider than a typical bike lane,” Sklar says, “ though buses do use the bike lanes, too.”

7. (Tied) Roebling Street & South 4th Street, Williamsburg, Brooklyn – 13 injuries, 1 death

“Before 2017, the biking expressway over the Williamsburg Bridge ended at this chaotic intersection with poorly marked and inadequate bike lanes,” Levine says. “New protected lanes feeding to the bridge should make the route safer.”

The most dangerous intersection in each of the other boroughs was as follows:

Queens: 58th Street & Roosevelt Avenue, Woodside – 12 injuries; tied for 14th most dangerous intersection in the city

“There’s no bike lane along either Roosevelt Avenue or 58th Street. Plus, traffic from Woodside Avenue connects with this intersection. That adds in a wildcard element that makes traffic unpredictable,” Sklar says.

Bronx: (Tie) East 149th Street & Morris Avenue and East 161st Street & Morris Avenue, both in Melrose – both have seen 11 injuries and also tie for 16th overall in the city

“There are no bike lanes on Morris Avenue or any nearby parallel avenues. People on bikes are forced to fight through chaotic traffic to get to the businesses, schools, and apartments along this street,” Levine says.

Staten Island: Castleton Avenue & Clove Road, Port Richmond – 3 injuries, 97th most dangerous

“This intersection is the site of a recent fatality this month. The city clearly encourages Clove Road as a bike route because the way the street is painted to allow bikes and cars to share the lanes in either direction. But this lane isn’t separated or protected. It’s a shared lane,” says Sklar.

As Streetsblog reported, it’s important to note that a huge number of this year’s fatal accidents—13 of 18—took place in Brooklyn.

Last Thursday, Mayor de Blasio revealed his “Green Wave” plan, which includes spending $58.4 million over the next five years on making city streets safer for bikers. In addition to adding more protected bike lanes and redesigning intersections, the plan calls for a media campaign on cyclist safety, as well as community engagement programs.

Compass Raises Another $370M On A $6.4B Valuation

The real estate market regularly goes through ups and downs, but today comes big news for a startup in the space that has built a platform that it believes can help all players in it — buyers, sellers and those who help with the buying and selling — no matter what stage of the cycle we happen to be in.

Compass — a company that has built a three-sided marketplace for the industry, along with a wide set of algorithms to help make it work — has raised a $370 million round of funding, money that it plans to use to continue expanding geographically (within existing markets in the U.S. such as New York, Connecticut, Philadelphia, Washington, Atlanta, SF and LA and other areas), as well as for more tech and product development. Sources tell me that it’s also now eyeing up an IPO, likely sometime in the next 24 months.

“From day one we knew, when we had just a small amount of people at the company, we had a very clear focus,” co-founder and chairman Ori Allon said in an interview. “We wanted to bring more tech and data and transparency to real estate, and I think it’s paid off.”

Based out of New York, Compass  earlier this year established an engineering hub in Seattle run by the former CTO of AI for Microsoft,  Joseph Sirosh . It’s continuing to hire there and elsewhere (alongside also making acqui-hires for talent).

The Series G funding — which brings the total raised by Compass to $1.5 billion — is coming in at a $6.4 billion valuation, a huge uptick for the company compared to its $4.4 billion valuation less than a year ago. Part of the reason for that has been the company’s massive growth: in the last quarter, its revenues were up 250% compared to Q2 2018.

The investor list for this latest round includes previous investors Canada Pension Plan Investment Board (CPPIB), Dragoneer Investment Group  and SoftBank Vision Fund. Other backers since it was first founded in 2012 have included Founders Fund, the Qatar Investment Authority (a construction and real estate giant), Fidelity and others.

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The company was co-founded by Ori Allon and Robert Reffkin — respectively the chairman and CEO, pictured here on the right and left of COO Maelle Gavet. The company first caught my eye because of Allon. An engineer by training, he has a string of notable prior successes in the field of search to his name (his two previous startups were sold to Google  and Twitter, which used them as the basis of large areas of their search and discovery algorithms).

In this latest entrepreneurial foray, Allon’s vision of using machine learning algorithms to improve decisions that humans make has been tailored to the specific vertical of real estate.

The platform is not a mere marketplace to connect buyers to real estate agents to sellers, but an engine that helps figure out pricing, timing for sales and how to stage homes (and more recently how to improve them with actual building work by way of Compass Concierge) to get the best prices and best sales.

It also helps real estate agents — it currently works with some 13,000 of them — manage their time and their customers (by way of an acquisition it made of CRM platform Contactually earlier this year). Starting with high-end homes for private individuals, Compass has expanded to commercial real estate and a much wider set of price brackets. Its traction in the market among its three customer bases of realtors, buyers and sellers has also meant that it’s been the subject of around 10 lawsuits from the likes of Zillow (over IP theft from former employees) and Realology (which owns firms like Coldwell Banker and Century21).

There is a wide opportunity for vertical search businesses at the moment. People want more accurate and targeted information to make purchasing decisions; and companies that are in the business of providing information (and selling things) are keen for better platforms to bring in online visitors and increase their conversions.

I understand that this has led to Compass getting approached for acquisitions, but that is not in the blueprint for this real estate startup: the longer-term plan will be to take the company public, likely in the next 24 months.

“It has been incredible to see the growth of our Product & Engineering team, including the addition of Joseph Sirosh as CTO,” said Allon, in a statement. “We are excited to partner with new investors, and deepen our relationship with our existing partners to accelerate our growth and further our technology advancements.”

142 West 82nd Street, Unit 8


142 West 82nd Street, Unit 8

UPPER WEST SIDE, MANHATTAN

1 Bed  |  1 Bath  |  Co-op

Offered At $700,000


Make your home in the heart of the Upper West Side in this tastefully updated tri-level co-op home just a block and a half from Central Park.

 


Located just two flights up, this spacious and bright home boasts hardwood floors, crown moldings, stained glass and exposed brick alongside well-planned updates. New oversized windows frame charming southern garden views, providing a serene respite from the city and adding to the home's townhouse-like privacy. On the lower level, enjoy a new eat-in, windowed kitchen with butcher block counters and stainless steel appliances. Upstairs, the living room features 11-foot-tall ceilings and beautiful built-ins. Step up to the bedroom level to find a huge custom closet and easy access to the updated bathroom.

142 West 82nd Street is a well-maintained prewar brownstone featuring an updated façade, new boiler and laundry room. Washer-dryers are permitted. Pets allowed on a case-by-case basis only. One percent flip tax.

Situated mid-block on a quintessential tree-lined street, you're surrounded by Central Park to the east and Riverside Park to the west. The Upper West Side's greatest shops and restaurants are nearby, including Fairway, Citarella, Zabar's and Trader Joes, and transportation is a breeze with 1, B and C trains all just minutes away.

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MUST SEE LISTING - 280 Broome Street, Unit 4

Exclusive Listing of Dawn Plyley of Bond New York


480 Broome Street, Unit 4

Asking: $2,599,000

2,000 SqFt | 2 BD | 2 BA


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A keyed elevator opens directly into this spacious sun-filled, full floor 2 bedroom/2 bathroom Soho loft, boasting approximately 2000 square feet of flexible interior space, three over-sized double pane glass windows, front and back, and 11'4 ceilings still clad with the original pressed tin circa 1880's. The loft is all about the space, the light and the vibe.

480 Broome Street, located in legendary Soho, is a six-story landmarked cast-iron building completed in 1885 by architect, Richard Berger for Slerman & Casper. In the late 1970's the building was purchased from a landlord by the artist tenants then in residence and converted to a Coop in 1981. The Coop is financially sound. The building is entirely smoke-free and features an automatic keyed elevator, a video security system and a common roof. The cast-iron facade was recently refurbished and freshly painted and the basement vault newly renovated. Pets are welcome! This is a one time opportunity to turn this piece of Soho history into your own home.

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Here Are Some Ways To Beat The Heat This Weekend!

After a toasty week, the city’s first heatwave of the year is about to get even hotter, with Friday’s expected heat index reaching 98 degrees and as high as 109 degrees over the weekend. The city is taking precautions to keep residents safe as the temperatures continue to heat up. Mayor Bill de Blasio declared an official heat emergency and directed office buildings and residents to set their AC to 78 degrees in order to prevent another power outage. The city’s annual Triathlon, originally scheduled to take place on Sunday, was just canceled for the first time in its history. While the best advice is still to stay indoors as much as possible, out of the sun, and well hydrated, there are some ways to beat the heat in the city, all for free.

Seek out air conditioning

If you don’t have AC in your home, there are about 500 designated cooling centersthroughout the five boroughs. Use this interactive map to find the closest air-conditioned public facilities in your neighborhood. And if you’ve waited until today to buy an air conditioner, don’t fret. Step-by-step instructions on how to choose and install one can be found here.

Free outdoor pools, beaches, and spray showers

“We want New Yorkers to stay safe and cool during the high temperatures,” said NYC Parks Commissioner Mitchell J. Silver in a recent statement. “From tree shade and cooling centers to spray showers, pools, and beaches, we encourage all to use our city resources to beat the heat in the coming days.”

All Olympic and intermediate-sized outdoor pools will offer extended hours this weekend, from 11 a.m. to 8 p.m. with a one hour break from 3 p.m. to 4 p.m. for cleaning. Beaches will also be open late, until 7 p.m each day. If you can’t get to a pool or a beach, the city has 600 spray showers throughout its parks. In general, the spray showers operate on days when the temperature hits 80 degrees or higher so it’s safe to say they’ll be running this weekend! Use this search tool to find a spray shower near you.

NYC’s public libraries

A few New York Public Library locations (considered city cooling centers) have decided to stay open on Sunday to help New Yorkers stay cool. Highbridge Library and Soundview Library in the Bronx; Morningside Heights Library and Harlem Library in Manhattan; and Stapleton Library in Staten Island will all be open from 1 p.m. to 5 p.m. on Sunday.

Sunday service will be offered at Bronx Library Center and Melrose Library, Parkchester Library in the Bronx; 53rd Street Library, Inwood Library, and Hudson Park Library in Manhattan; and Todt Hill–Westerleigh Library in Staten Island.

This weekend you can snag a free ride to select NYPL locations via Lyft—more details on that below.

Unleash a fire hydrant

A New York tradition since 1896, uncapping fire hydrants is not entirely legal but tolerated when temperatures reach sweltering levels. If you’re 18 and older, you can ask your local firehouse to uncap a fire hydrant and have it fitted with a spray cap. This way, you’ll avoid any potential fines (which can reach $1000 if you’re caught splashing without a cap) and be a bit more environmentally-conscious.

Avoid the subways–take a free Lyft instead

Subways are notorious sauna-like environments during the summer months. To help New Yorkers get around more comfortably, Lyft is providing free rides this weekend to select cooling centers across the five boroughs. Those impacted can use the code NYCCOOL19—valid for 2 rides up to $15—and plug in any of the following addresses:

Manhattan:

  • New York Public Library, Inwood: 4790 Broadway, New York, NY

  • New York Public Library, Morningside Heights: 2900 Broadway, New York, NY

  • New York Public Library, Harlem: 9 West 124th Street, New York, NY

  • University Settlement, Meltzer Senior Center: 94 East 1st Street, New York, NY

  • YM YWHA Washington Heights Center for Adults Living Well: 54 Nagle Avenue, New York, NY

  • Hudson Guild: 119 Ninth Avenue, New York, NY

Brooklyn:

  • Brooklyn Public Library, Central Branch: 10 Grand Army Plaza, Brooklyn, NY

  • Brooklyn Public Library, Ulmer Park Branch: 2602 Bath Avenue, Brooklyn, NY

  • Brooklyn Public Library, Stone Avenue Branch: 581 Mother Gaston Boulevard, Brooklyn, NY

  • Wayside Tompkins Park NSC: 550 Greene Ave, Brooklyn, NY

  • JASA Scheuer House of Coney Island: 3601 Surf Avenue, Brooklyn, NY

The Bronx:

  • New York Public Library, Bronx Library Center: 310 East Kingsbridge Road, Bronx, NY

  • New York Public Library, Parkchester: 1985 Westchester Avenue, Bronx, NY

  • New York Public Library, High Bridge: 78 West 168th Street, Bronx, NY

  • SHOPP Casa Boricua Senior Center: 910 East 172nd Street, Bronx, NY

  • PSS Parkside Senior Center: 644 Adee Avenue, Bronx, NY

  • PSS Andrew Jackson Senior Center: 25 East 156 Street, Bronx, NY

Queens:

  • Queens Public Library, Rochdale Village: 169-09 137th Ave, Jamaica, NY

  • Queens Public Library, Averne: 312 Beach 54 Street, Arverne, NY

  • Queens Public Library, Corona: 38-23 104 Street, Corona, NY

  • Sunnyside Community Services Senior Center: 43-31 39 St Queens, NY

  • JSPOA Theodora Jackson Senior Center: 92-47 165th Street, Queens, NY

Staten Island:

  • New York Public Library, Stapleton: 132 Canal St., Staten Island, NY

  • New York Public Library, Todt Hill-Westerleigh: 2550 Victory Boulevard, Staten Island, NY

  • New York Public Library, Mariners Harbor: 206 South Ave, Staten Island, NY

  • JCC of Staten Island: 1466 Manor Road, Staten Island, NY

  • CASC Cassidy Coles Senior Center: 125 Cassidy Place, Staten Island, NY

Last Manhattanhenge Of 2019 - July 12th

An event that makes even locals stop and stare returns to New York City tomorrow night. Manhattanhenge, when the sunset aligns with the east-west streets of the borough’s grid, happened on May 29th and 30th, and the final two days of the phenomenon returns for the last time this year tomorrow and Saturday at 8:20 p.m. and 8:21 p.m., respectively. Not only does the setting sun sit perfectly between Manhattan’s many skyscrapers during this biannual event, but an orange-yellow glow hits north and south side streets, creating a picture-perfect moment.

Astrophysicist Neil deGrasse Tyson coined Manhattanhenge, a play on “Stonehenge,” which is the circle of stones in England built to align with the movement of the sun. Manhattan’s grid does not run exactly north-south and east-west, as everything is rotated about 29 degrees clockwise.

During the summer solstice, the sun will set about 32 degrees north of true west. This means a few weeks before and after the solstice, the sun sets at the same angle as Manhattan’s grid, 29 degrees north of true west.

As 6sqft previously noted, Tyson recommends east-west cross streets for the best views, including 14th, 23rd, 34th, 42nd, and 57th Streets. In a blog post for the American Museum of Natural History, he writes: “The Empire State Building and the Chrysler Building render 34th Street and 42nd Streets especially striking vistas.”

On Friday, July 12 at 8:20 p.m. the full sun will be visible, meaning it’s totally above the horizon. On Saturday, July 13 at 8:21 p.m., it will be a “half sun,” which means half of the sun sits above the horizon with half below the horizon.

Temporary “Pop-Up Park”

As plans for a permanent park at Willoughby Square go forward, a temporary green space at the same site has opened to the public. The 15,000-square-foot “pop-up park” will provide a green escape for the local community until the end of the summer in 2020, at which point construction will commence on the permanent, 1.15-acre park scheduled for completion by 2022.

As 6sqft reported in May, the city’s Economic Development Corporation announced it would be reviving the Willoughby Square Park project that first came up 15 years ago during Mayor Michael Bloomberg’s administration as part of a 2004 rezoning to attract development in Downtown Brooklyn. Through this zoning change, the city used eminent domain to take over a group of tenement buildings and properties that were thought to have been stops on the Underground Railroad, evicting many rent-stabilized residents in the process.

In January, the project was abandoned due to the developer’s inability to secure funding. A few months later, the EDC’s capital division announced it would be taking on the construction itself and proceeding with a plan that cut the estimated $80 million project to just $15 million. The new budget scrapped a “financially unfeasible” parking and added a memorial to honor the area’s ties to the Underground Railroad. The developer, American Development Group, disputed EDC’s claims when their name was taken off the project and is currently embroiled in a lawsuit with the agency.

“When NYCEDC developed our new plan for Willoughby Square, we worked to ensure there was green space available for residents to enjoy this summer,” said NYCEDC President and CEO James Patchett. “We are excited to open this space and look forward to the continued development of the full site, which will be an important addition to Downtown Brooklyn.”

The park features a synthetic turf lawn with beach chairs, and giant chess and checker boards. A walkway and planters separate the grassy area from a graveled plaza with colorful tables, chairs, and umbrellas. As Curbed noted, the park doesn’t allow dogs, which is a major pain point for local residents who have to schlep over to Fort Greene Park or Hill Side Park in Brooklyn Heights. That should only be a temporary inconvenience, as the EDC’s plans for the permanent park include a dedicated space for four-legged companions.

The design of Willoughby Park is being led by landscape architecture firm Hargreaves Jones. It’s not yet clear how the ongoing lawsuit with ADG—which includes a provision preventing EDC from doing anything more than surface work at the site—will impact the project’s timeline.

Q2 2019 Manhattan Market Report

RECORDED SALES

BY UNIT TYPE

Studio, 1BR, and 2BR units accounted for 82% of the transactions for the quarter. 1BR units were the primary sale with 40% of the market, and 2BR units followed closely with 32%. Both of these unit types were more expensive on average than last year, with PPSFs of $1,405 and $1,589, respectively. 2BRs saw the most growth in price, with a 4% median price increase, and an 9% average price increase.

3BR and 4+BR units sold in 2Q19 were generally smaller. 3BRs saw declining prices with PPSF dropping 5%. 4+BRs saw an expected drop in average and median price due to a 16% smaller size, yet they were more expensive, with a PPSF increase of 6%.

Lower-priced 4+BR condo units commanded a 16% higher price than this time last year, even with a 4.8% decrease in average size. 1BR and 2BR units showed growth in PPSF by 8% and 6%, respectively, and represented more than 75% of condo sales. 3BR units saw a decline in PPSF of 5% to $2,010.

1BR co-ops were 41% of the market and saw the least amount of change. Median price, average price, and average PPSF each declined 1%. 2BRs co-ops accounted for 28% of the market and showed more significant declines, with average PPSF declining 6%. 4+BRs saw a 21% decrease in average price, along with a 15% decrease in average size.

‘Cash Cab’ Game Show To Film In Manhattan This Summer

The game show that takes place in the back of a New York City taxi cab is back. Hosted by comedian Ben Bailey, “Cash Cab” is set to start filming its next season in Manhattan this summer, according to amNY. The game show, which rewards passengers with cash prizes for answering trivia questions correctly, originally aired between 2005 and 2012, when it was canceled. After a five year hiatus, the show returned in 2017.

After two seasons of the revised version, the show has moved to the Bravo network. As amNY reported, the questions will move from general knowledge questions to more pop-culture-centric ones.

Each episode will feature three games, with the show starting as soon as the passenger steps into the car. If the rider gives three wrong answers, they’re kicked to the curb. Bailey tweeted on Tuesday: “CASH CAB IS BACK AGAIN!!!” So now that @BravoTV has officially announced it, I can let you guys in on the big news about @CashCabUSA.”

In past seasons, Bailey has driven around the Upper East Side, Upper West Side, and Times Square, but Bravo has not revealed locations for this upcoming season.

[Via amNY]

9 Contracts Signed At $4M+ Last Week

LUXURY MARKET REPORT 2019

Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above

July 1-7, 2019

9 Contracts Signed

Nine contracts were signed last week at $4 million and above, the first sub-10 performance since the last week in December. At first blush, it would seem that the July 4th holiday cratered the week’s activity. But a more likely reason for the anemic showing was this: The rush to close properties before the July 1 increase in the New York State Mansion Tax caused many buyers to accelerate their purchases and thus deplete last week’s totals.

The No. 1 contract was Apartment 8B at 7 Hubert Street, asking $9.725 million, reduced from $9.995 million when it went on the market at the end of March. The condo has 3,253 square feet including 4 bedrooms and 4 bathrooms. A 30-foot living room with 12-foot ceilings opens onto a 20-foot-long terrace. Building amenities include a gym, concierge, and children’s playroom. The seller of 8B paid $3,510,417 for the unit in 2005 after the building, designed by BKSK Architects, was completed.

The No. 2 contract was 8F at 10 Madison Square West (also known as 1107 Broadway), asking $7.65 million. The condo has 2,391 square feet including 3 bedrooms and 3.5 bathrooms. All of the rooms front Madison Square Park. The seller originally signed a contract in July 2013 when the building was being constructed and closed in March 2016 for $8,146,000. Amenities include a 10,000-square-foot fitness area that features a 50-foot lap pool.


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First-Ever Squirrel Census Finds 2,300+ Squirrels Call Central Park Home

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Last October, as 6sqft reported, an organization called Squirrel Census, headed by Jamie Allen, began the multimedia, science, design, and storytelling endeavor of figuring out how many squirrels–specifically eastern gray squirrels–call the 843 acres of Central Park home, and put out a call for critter-counting volunteers. Though attempting to fathom the magnitude of the park’s squirrelscape began with some curiosity and a bit of tongue in cheek, according to Citylab, the methods used to tally the cheeky rodents–and the resulting findings–are as fun as they are fascinating.

So how many eastern gray squirrels live in Central Park? The short answer: 2,373. That’s the number Allen, a humorist and writer, and the over-300 volunteers on board for the project arrived at after many months on the job. The team didn’t merely count the squirrels. Just as the U.S. Census records a wide array of demographic information, Squirrel Census provides a trove of details about where each squirrel was spotted, what color its fur was and whether clusters of the same type were noted throughout the park.

After some early squirrel-counting done on a whim, Allen had decided to tackle Central Park for the sheer challenge of it, but also because “determining the squirrel density of a park is a way to understand the health of that green space.” He adds, “We like to think of squirrels as the unofficial mascots of New York City. We hope park-lovers will come out and help count these furry New Yorkers in the name of science and the great outdoors.”

The project also cited the larger scientific community as part of their motive, explaining that the census will provide data for “future squirrel counts and other animal studies.” In addition to the number of squirrels in the park, the group hoped to learn behavioral trends that relate to one of the only mammals that has chosen to live right alongside humans in broad daylight. Once the census was done, the project’s chief cartographer would create a multimedia, interactive map of Central Park.

Overall, volunteers tallied 3,023 squirrel sightings–noting that some were likely counted more than once). Of those, about 81 percent (approximately 2,472 squirrels) were gray squirrels, plus various mixes of black, white, and cinnamon highlights. 393 were mostly cinnamon-colored; 103 were black. The team noted 21 fur-color variations.

Volunteers also recorded the squirrel behaviors, which were sometimes, well, squirrelly: One record notes a squirrel hanging in a tree “like an acrobat, hanging onto branch by its legs upside down.” One overstimulated rodent “got bored.”

The methods used by the intrepid squirrel-counters were as clever as the bushy-tailed New Yorkers themselves. Mainly: divide and conquer. The team created a grid of 350 hectare–10,000 square meters–plots of land over a map of Central Park–tiny census tracts if you will. Volunteers then spread out and did two counts, one in the morning and another at night. The “Squirrel Sighters,” spent 20 minutes on each search-and-count mission, scanning the foliage high and low and listening for squirrel sounds. What made the undertaking easier than it might have been? Says Allen, “Squirrels give themselves away by eating.”

The team arrived at an “abundance number” after running their data through a formula popularized in the 1950s and ’60s by leading squirrel biologist Vagn Flyger; the formula allows for “the uncertainties of counting squirrels.” To help visualize exactly where the critters live, Squirrel Census member Nat Slaughter—a graphic designer and mapmaker—spent a full two years pre-census making intricately detailed maps of Central Park.

Though Allen says he will eventually release the data into New York City’s open data portal, he feels the project goes beyond a head count. It allows visitors to experience the park differently than you would if you were simply jogging through. Primarily, though, it’s a way of telling a story about Central Park and one of its many citizens. Slaughter adds, “It tunes the person to the environment and makes you notice things that you otherwise wouldn’t.”

You can peruse the full report here.

[Via Citylab]

The Monthly Update - July 2019

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Showcasing Your Listing in a Saturated Buyer’s Market

As inventory continues to flood the New York City market, how do you make your property stand out from the crowd? We’ve heard plenty about pricing strategies, and of course, pricing is incredibly important. In fact, it’s probably the No. 1 tool for getting your property sold quickly and for the most money. But it’s by no means the only weapon in the arsenal!


There is a whole host of other tactics you can leverage to make sure your listing wows potential buyers and rises above the fray. How old are your appliances? When was the last time you updated the doors or your kitchen cabinets? Do your floors need a good polish or refinishing? How about finally ridding yourself of all the excess stuff you’ve been accumulating over the 3, 5 or 10 years you’ve owned your home? What about getting rid of your furniture and either purchasing or renting new “millennial-approved” furnishings instead? Each of these strategies can go a long way in setting your property apart from the hundreds of like-kind listings you’re competing with. But how do you pay for all this? What if your money is tied up in your property’s equity or in purchasing a new home concurrently? 


Here Comes Compass Concierge to the Rescue! 

Compass is the only real estate firm that will pay for all of your renovation costs, staging costs and pretty much every “getting the property ready for market” cost. Let us come in and assess what needs to be done to maximize your return on investment. We’ll advise on what needs to be replaced, what needs to be updated, what needs to be cleaned, or what needs to be taken out and stored. All of the above is fair game when it comes to getting your property ready for market with Compass Concierge. And Compass will pay all of the fees with absolutely no hidden costs, no additional fees and no interest! 

With Compass Concierge, Compass pays the approved vendors you select, and you’re in charge of the process from start to finish. Or let The Hoffman Team know if you’d prefer us to oversee the work. Either way, once the improvements are made, and the property is on the market, it’s sure to make a splash! Enjoy multiple bids, choose the buyer who best fits your closing schedule and price, and once the property closes, take the money out of the equity to pay Compass back and keep the rest. It’s that simple.


There really are very few limits when it comes to this program, and we’d love to talk to you more about how Compass Concierge can help with your specific needs. We’re all about helping you move on to your next step without being burdened by upfront costs. Call us today to get started!


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The key to a seamless sale?

Compass Concierge!

Exclusive to our clients, Compass Concierge helps you sell your home faster and for more money by covering the cost of services to prepare your home for market. From staging to home improvements and more, with no hidden fees or interest charged, ever.

Curious how Compass Concierge will transform your sale? Learn more by contacting us.

HoffmanTeam@compass.com


Local Events

Independence Day Fireworks | July 4th


Celebrate July 4th with a glorious display of fireworks! The annual Macy's 4th of July Fireworks spectacle takes place on the Brooklyn Bridge and can be seen from various places throughout the city. Check out this interactive map for more information on where to witness the beautiful scene. 

Restaurant Week | July 22 - August 16

NYC Restaurant Week is a celebration of the city's most fabulous pastime: dining out. With hundreds of restaurants throughout NYC rolling out special prix-fixe menus for a limited time, this is your chance to enjoy multi-cou rse meals at a fraction of the cost. Click here for more information. 



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Everything You Need To Know About This Weekend’s NYC Pride March

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Celebrating the 50th anniversary of the Stonewall Uprising and culminating the monthlong WorldPride festivities, this year’s NYC Pride March taking place on Sunday, June 30 is set to be the largest Pride parade since the tradition launched in 1970. Approximately two million people attend the event each year, making it the biggest Pride celebration in the world, and that number should easily be surpassed this year.

More than 550 groups—non-profits, community organizations, corporate sponsors, small businesses, political candidates and activists—and over 100 floats marched in last year’s parade. This year, the theme is “Millions of Moments of Pride” and the Grand Marshals will be the cast of FX’s Pose, UK Black Pride founder Phyll Opoku-Gyimah, Navy veteran and transgender flag creator Monica Helms, the Gay Liberation Front, the very first LGBTQ activist organization formed after the Stonewall Rebellion, and the Trevor Project, a national organization providing crisis counseling for LGBTQ youth.

The march has a new route this year which, in addition to ensuring plenty of viewing space for spectators, will pass by landmarks like the Stonewall Inn and the AIDS Memorial Park. The U-shaped route will start at 26th Street and Fifth Avenue and head south on Fifth, then turn west on 8th Street and head back north on Seventh Avenue up to 23rd Street. It will begin at noon and is expected to last into the evening.

Revelers can continue on to Times Square, where the WorldPride Closing Ceremony will take place from 7 p.m. to 10 p.m. The event will be hosted by Comedienne Margaret Cho and will feature performances by Melissa Etheridge, Jake Shears and more.

The Department of Transportation has announced the following street closures between 11 a.m. and 6 p.m.

Formation:

  • 19th Street between Sixth and Ninth Avenues

  • 18th Street between Seventh and Ninth Avenues

  • 17th Street between Seventh and Ninth Avenues

  • 16th Street between Sixth and Ninth Avenues

  • 15th Street between Seventh and Ninth Avenues

Route:

  • Seventh Avenue between 19th and Christopher Streets

  • Christopher Street between Greenwich Avenue and West Fourth Street

  • Greenwich Avenue between Christopher Street and Sixth Avenue

  • Eighth Street between Sixth and Fifth Avenues

  • Fifth Avenue between Eighth Street and 33rd Street

Dispersal:

  • 29th Street between Madison and Sixth Avenues

  • 30th Street between Madison and Sixth Avenues

  • 31st Street between Madison and Sixth Avenues

  • 32nd Street between Madison and Sixth Avenues

  • 33rd Street between Madison and Sixth Avenues

Festival:

  • University Place between East 13th Street and Waverly Place

  • East Eighth Street between University Place and Greene Street

To avoid traffic, your best bet will be to take the subway. The 4, 5, 6, N, Q, R, or W trains at 14th Street-Union Square will take you to the starting point, while the 2, 3, A, C, E, or L at 14th Street will be the closest stops to the parade’s end point. Check back on Friday for our weekly subway update for any service changes that may impact your trip.

136 Waverly Place, Unit 11C


136 Waverly Place, Unit 11C

WEST VILLAGE, MANHATTAN

1 Bed  |  1 Bath  |  Co-Op | Doorman

Offered At $1,650,000


 

Breathtaking skyline views and extraordinary storage space fill every room of this spacious one-bedroom, one-bathroom cooperative in an ideal West Village location.


From this perch high on the 11th floor, glorious open sky and protected vistas become your everyday backdrop with the Empire State Building front and center. A large foyer with a roomy closet makes a gracious first impression while the expansive living/dining room welcomes lively entertaining or comfortable relaxation alongside the sights of the city. Take in the prewar details like tall beamed ceilings, hardwood floors and handsome millwork on your way to the eat-in kitchen featuring abundant cabinet space, full-size appliances and a separate entrance. Even the windowed bathroom of this stunning home boasts postcard views, and three more massive closets line the hallway and the extra-large king bedroom.


The Waverly is a pet-friendly 1928 cooperative building where residents enjoy 24-hour doorman service, live-in superintendent, laundry, storage and bike room. Located within the Greenwich Village Historic District, where the West Village meets central Greenwich Village, this fine home is surrounded by the best of everything Downtown living has to offer. Outstanding restaurants line the nearby streets, from cozy brunch spots to Michelin-starred destinations like Babbo and Blue Hill. Spectacular open space awaits at Washington Square Park, Jefferson Market Garden and at sprawling Hudson River Park. NYU and nearly every subway line in the city are within minutes of this central location, including A/C/E, B/D/F/M, 1/2/3, L, N/Q/R/W, 4/5/6 and PATH trains.

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Where To Watch This Year's 4th of July Fireworks

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The talented folks behind the hotly anticipated Macy’s Fourth of July live fireworks spectacular happening next Thursday evening have provided a detailed guide to the prime Manhattan spots for watching the night sky light up. Read on to get the scoop on official viewing points–and some unofficial favorites–and use the interactive map to make sure you’re in the right place when the pyrotechnics start at the Brooklyn Bridge.

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The map includes subway information and directions and specifies which areas are handicapped accessible. This year’s patriotic light show will be launched from four barges stationed along the East River between Broad Street and the Brooklyn Bridge. You can locate entry points for prime viewing spots on the map. As fireworks veterans know, space is limited, so plan ahead and arrive early.

The map includes neighborhood guides so you’ll have a list of things to do and see once the show is over. The main event site provides all the info you need including times, rules and regs.

As any New Yorker knows, there are plenty of “unofficial” viewing spots, but the show’s launch location changes from year to year, so make sure your favorite rooftop still has a clear view of the action. Time-tested locations for this year’s show include Brooklyn Bridge Park (see the map above for which sections will be open to the public) and the rooftop at Brooklyn Bridge Park restaurant ForninoOne World Observatory and Gantry Plaza State Park in Long Island City, Queens. Rooftop access tends to come with steep ticket prices, so check before you go.

If you’re hoping to hit the water to watch the ‘works, Circle LineAmerican PrincessCapital Princess and New York Water Taxi are offering fireworks cruises setting sail from Manhattan, Brooklyn IVNautical Princess and Freedom Cruises sail from Brooklyn and Island Current Fleet sets sail from City Island (h/t Mommy Poppins).

For a list of great buildings in Manhattan to watch the ‘works, look no further than CityRealty’s top 10 lists.

29 Contracts Signed At $4M+ Last Week

LUXURY MARKET REPORT 2019

Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above


June 17-23, 2019

29 Contracts Signed

Twenty-nine contracts were signed last week at $4 million and above, the highest total of the year. More good news: Last week also marked the highest dollar volume of the year---$290,535,000.

Which prompts the question: Was last week’s robust totals a function of falling interest rates, the big June bounce in the stock market, or perhaps a combination of the two?

Stat Geek Alert: So far, the 2nd quarter of 2019 is heading for a 13 % decline in the number of contracts signed over 2018. This despite the fact that buyers had the chance to close before the increase in the New York State Mansion Recording Tax, which comes into effect on July 1. Which brings us to…..

The No. 1 contract was PH94A at 432 Park, asking $41 million. This unit had an executed contract and then closed on the same day. The one thing I can tell you about the sale was that the unit closed for less than $40 million—and the savings on the New York State Mansion Tax was over $1 million! PH94A is a corner unit with 3,952 square feet including 3 bedrooms, a library, and 3.5 bathrooms. It features a 29’ x 29’ living room, an eat-in kitchen, and a 30-foot master suite. The unit has spectacular Central Park, Hudson and East River views. (Also selling last week in the same building was 36A, owned by Jennifer Lopez and Alex Rodriguez. It was asking $17.5 million.)

432 Park is 96 stories high, a concrete-and-glass edifice designed by Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was the Terrace Duplex at 1010 Park Avenue, asking $28.5 million. This 7,888-square-foot unit has 6 bedrooms and 7.5 bathrooms, plus a 32’ x 42’ terrace. It is in a new 11-unit condo building that started marketing in June 2017. It was the 2nd contract signed in the building. The first sale happened at the end of May. Amenities include a doorman, 50-foot salt water pool, a fitness center, children’s playroom, and a screening room.

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