Number of Residents near Ground Zero has Doubled
Since 2000 Since the devastation in Sept. 11, many had doubts if the neighborhoods around the World Trade Center would recover as its residents deserted the neighborhood after the tragedy. Ten years on and the little enclave in the Lower Manhattan has sprung up with new life, as the local population doubled. The relocation of large financial institutions has freed up precious space for more residential property. In the wake of the area’s history, New Yorkers living there are testimonies to the resilience and independence of the city, which has not only moved on but also progressed from the dusty ruins. Streets once dominated by men in suits are now accompanied with children in strollers, as new grocery stores, schools and apartments are built. The tallest apartment tower in the Western Hemisphere, a 76-storey skyscraper designed by Frank Gehry was just completed off Brooklyn Bridge. Yet the area still remains a private retreat for its residents, as Battery Park City is removed from the endless car traffic that plagues the rest of New York, which as resident Theresa Purcell puts, “You are in a big, bad city” but still a “little world away.”
We at Manhattist love this! We're in total support of bringing life back to the downtown area, especially near Ground Zero. We hold deep respect for the site but we believe one of the best ways to pay homage to the neighborhood is by revitalizing it that it may be a sign of life and recovery.
Highly anticipated West Village Condos May Include Waterfalls
Since the transformation from sleazy industrial waterfront to off-the-grid celebrity hangout, the West Village waterfront has been in the spotlight of area preservationists. In fact, unlike many other areas in New York, they have been successful in having the are downzoned apart from two exceptions: the Superior Ink and the Whitehall Storage building at 150 Charles Street. To the relief of residents, developers Witkoff Group agreed to preserve the old building but would plop a huge condominium on top of it, with a shape that looks like a gigantic love seat facing the Hudson River. To put the icing on the cake, a blog discovered that the project, known as The Watershed, would come to feature cascading waterfalls from the roof to the street level. This, the company argues, will not only serve as a water feature, but as a sustainable source of water for the community.
Manhattist is thrilled to hear this news. We love exciting architecture, and New York has always been known for pushing the edge in luxury and style. Perhaps we'll even be selling some of these classy condos to our clients.
Bond Street: Old World Character Meets New Urban Thrills on City’s Hottest Street
Nestled between Broadway and Bowery, is the cobblestone-paved haven known as Bond Street. Over the years Bond has flourished with the influx of talented and creative residents that grew the architecture and eateries into the acclaimed institutions they are today. Without the crowd of SoHo or the hipsters of Williamsburg, Bond Street is still home to the same eclecticism and dynamisms. 40 Bond condominium remains the undisputed landmark of the street. Built by hotelier Ian Schrager and designed by architects Herzog and de Meuron, it still remains a draw for photographers and tourists in search of astute design in the area. Real estate prices continue to soar along this street, where two bedrooms at 40 Bond go for more than $4 million. Bond Street is certainly a to-go destination spot for those new to New York.
At Manhattist, we've watched this dynamic neighborhood transform over the years. Bond St itself is a terrific plpace where many of our clients are always looking to live. Though prices are competitive, you'll know that once you get a property here, you'll own something of incredible quality.
Gallantry in Real Estate
A wise adage from a fortune cookie was all it needed for New York real estate agent to seize the apartment of his dreams. This fateful tale revolves around our protagonist Jason Saft and a 220 square foot studio in Chelsea. Love at first sight would aptly describe what Jason felt for this apartment offered by his company Citi Habitats, and despite not being officially assigned to the apartment; he still took on the challenge of selling this tough sell. The studio is a charming three-floor walk-up with an Old World charm reminiscent of Chelsea when it was first established. Yet the restrictive space left this apartment on the broker’s shelf. Eight weeks after it was listed, a tangerine cookie brought an epiphany: “Your home is of utmost importance to you, and your family comes first.” That very day, Jason rented the apartment.
Manhattist believes that every home in NYC is pefectly sellable. We know what the value of properties are in this city and we have an abundance of tips and resources to help you sell or rent your home. Ask us for our help. Our resources are customized to ensure you get the most targeted and helpful knowledge you need.
‘The Suburbs of Manhattan’
A comfortable enclave in the middle of the hustle and bustle of New York lays the Upper West Side. Long viewed by residents as the suburbs of Manhattan, the Upper West is where many New Yorkers take to starting a family. That is the story for Paul Kahn, having been away from the Upper West for 14 years, he finally feels its time to return as his wife is expecting their first child. Close to Central Park, easy access to the rest of the city via an express subway line, good schools, American Museum of Natural History and the New York Historical Society, the Upper West has come to be one of the most desirable areas in the city. Despite its suburban heritage, the Upper West increasingly faces the risk of expanding corporate giants encroaching on those very homely features that have come to define the area. New buildings are taller; storefronts are brighter and are often occupied by large retail chains. Is this the end of the suburbs of Manhattan or just part of the same lifeline as the rest of America’s suburbia?
At Manhattist, we've always been avid afficionados of the Upper West Side. Its charm is inimitable, and its location affords it sophistication and style. We market several gorgeous apartments and condominiums in the area. Contact us if you're interested!
More and More REITs Investing in Big Apple
Investors from around the world want to own commercial real estate assets in New York City. Equally important for ownership is the publicly traded and non-traded real estate investment trusts seeking opportunities in the Big Apple. Tom Toomey, CEO of Colorado-based multi-family landlord UDR Toomey reportedly stated, “The expansion of our portfolio into Manhattan reflects our desire to own and operate apartment homes in markets that have the best growth prospects based on favorable job formation and low home affordability." (... read more)
Manhattist knows that this is great news for New York City as it signals a return in confidence for many investors ranging from small entrepreneurs to larger companies. We’re proud that the real estate industry has held its own in this city despite the tremendous bust we witnessed but, as we told many of our clients, investors will return to New York, and they’ll still keep coming as the city bounces back in its real estate offerings.
Luxury Market Shows Signs of Improvement
Ever since the crush of the housing bubble in 2008, sales of luxury real estate has tethered on the edge with sales fluctuating erratically. However, a spike in signed contracts for properties over $4 million has come as a welcome sign to an improving luxury market. Contracts are usually a more accurate gauge of current market condition and the 70 contracts signed in February is the best performance since January of 2007, way before the market tanked. Skeptics may contend that the peak performance might be due to January’s leftover inventory with investors avoiding the frigid winter. This is representative of growing consumer confidence and the current window of opportunity: low interest rates and the potential price rise in the future as fewer developments are in line. (... read more)
Manhattist is thrilled with this news. Our specialty is luxury real estate in everything from condos to townhouses and co-ops. We know that New York City is one of the world’s top destinations for gorgeous, sophisticated homes. We know because every day we deal with people who fall in love with the city and its phenomenal properties all over again.