As Seen On Brownstoner.com: Flatbush Standalone With Parking, Stained Glass, Built-ins Asks $2 Million

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Located in the micro nabe of Beverley Square East, this detached single family home offers parking, bedrooms galore and an interior stuffed with original details. Dating to the early 20th century, 340 East 18th Street also boasts a front porch and a rear yard for plenty of fresh air space.

The Beverley squares, both east and west, were largely developed by T. B. Ackerson, who envisioned carving upscale neighborhoods out of the former farmland of Flatbush. He had competition from other enclaves as multiple developers sought to lure home buyers with the promise of modern living outside of the city.

The Colonial Revival-style No. 340 East 18th Street likely dates to between 1901-1902 when many of the houses in the neighborhood were constructed. It was definitely in place by 1905, when it appears on Sanborn map of the area.

It was designed with generous entertaining spaces on the first floor, including a large foyer, parlor, library and a dining room in addition to an updated kitchen. The upper two floors hold seven bedrooms, a full bath and laundry.

The formal rooms of the first floor are packed with unpainted woodwork, including columned mantels with mirrored overmantels, wood floors with inlaid borders, built-ins and a dining room with beamed ceilings, wainscoting and plate rail. There’s also stained glass to be found.

The rear of the first floor has been modernized with an L-shaped kitchen with white cabinets, room for a table and glass doors looking out out to the rear garden. Adjacent to the kitchen is a full bath and storage.

The original stair with a window seat at the landing leads to the less detail filled upper floors but the bedrooms still have wood floors and simple moldings. Three of the four bedrooms on the second floor have windowed bays. There’s just one full bath shared by the bedrooms but one bedroom boasts an original marble sink and the floorplans show a passthrough with sink in between two other bedrooms. The other full bath in the house is located in the basement.

Out back there’s a wood deck off the kitchen with stairs leading down to a lawn with a raised planting bed. A driveway runs along the side of the house.

The house hasn’t been on the market since 1989. It’s now listed for $2 million with Dylan Hoffman and Andrew T. Corso of Compass. What do you think?

[Listing: 340 East 18th Street | Broker: Compass] GMAP

The Monthly Update - October 2020

The status of the New York City

real estate market as we head into fall: 

Uncertainty is the enemy in many scenarios, especially in financial markets, employment and the real estate sector. Right now, there are a number of deals happening in the city. However, many buyers are on pause as a multitude of question marks lie ahead, in business, health, politics and more. In the meantime, the rental market continues to sink lower while the sales inventory climbs ever upward.

Sale prices seem to be wavering in the wind like a kite — momentarily holding steady, then changing direction with another guest of wind. The metaphor holds true for the scads of unsure buyers, as well. We're seeing a lot of interest but also a lot of trepidation. In some markets, especially in Brooklyn, listings are going to contract seemingly immediately, and some even, dare I say it, bidding wars.

What lies ahead is anyone's guess, frankly. In the wake of a world-altering pandemic, today's market feels different than it did after other world-altering, life-changing events from our past. Probably because there is so much hanging in the balance at this very uncertain moment. Nobody knows what the next six weeks will hold, not just in terms of COVID, but also all the hot button issues such as the Supreme Court nomination, national social justice demonstrations  and, oh, that presidential election thingy. Will New York City be able to keep numbers low in light of a return to school and indoor dining? Or will a second wave be on the horizon? Is a full recovery of the economy possible without a vaccine or will we see a broader global economic downturn? Uncertainty is everywhere--so it’s understandable that buyers have a bit of this as well. They can’t help themselves. It’s everywhere.

Other regions across the country, including larger cities, are experiencing tremendous sellers' markets. But we're not quite there in New York City. Yet. Our market as a whole seems to be in flux. On hold  Paused. Halting. In transition. Stopped. Resting. Waiting for the other shoe to drop. And yet, some buyers are confidently skating out onto the ice and being rewarded handsomely for it with record-low interest rates, listing prices (arguably) 10 percent less than before COVID, with extra negotiation room on top of that. 

It's a good time to buy. Really good. And buyers who are boldly forging ahead know this. All the questions cannot be answered right now. All the uncertainty cannot be removed. But to live in the moment is to seize the day, to live your life in the city that you love and help revive and care for it. There's a reason why we were all here. It's because we love New York City. And our city will come back. It always has, and it always will.


Local Happenings & Lifestyle Tips

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Leaf Peeping 2020

Who doesn't love witnessing the gorgeous transformation of leaves during the fall? Autumn is a magical time of year in our beautiful state. Take a trip out of the city to recharge and enjoy the fresh air and stunning scenery by exploring this 2020 Fall Foliage Map for optimal leaf peeping!

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Most Anticipated Restaurants Opening this Fall

Looking to try something new? As we settle into the new season, new restaurant openings are on the horizon. Eater New York has rounded up a list of the most exciting openings to look forward to through the end of this year. Read up here.

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62 Best Fall Crafts to Help Celebrate the Season

Autumn is finally here, and that means it's time for a some easy, earth-toned, comfy-cozy DIYs. Country Living has gathered together the best crafts to bring in the new season. Each of these easy, family-friendly crafts is super cute and incredibly simple to make.

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2020 Simple Organizing and Design Ideas

Over the past six months, we've all realized the importance of our homes and the impact of our living spaces. For the third annual Real Simple Home, Real Simple partnered with talented designers and organizers to share ideas for making every area inviting, calming, and ultra-functional. Explore here.


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69 Fifth Avenue, Unit 5JH


69 Fifth Avenue, Unit 5JH

FLATIRON, MANHATTAN

2 Bed  |  2 Bath | Co-op


Elegant contemporary design and stunning city views abound in this impeccably renovated two-bedroom, two-bathroom home in a full-service, amenity-rich co-op, just steps from Union Square.

Spanning 1,400 square feet, this seamlessly combined unit is the epitome of style and refinement with its muted color palette, white oak wide-plank floors and premium finishes. Golden light fills every room thanks to a dozen windows facing south and wes and outfitted with Hunter Douglas motorized shades. From the gracious foyer, you're invited into a spacious living room and dining area where Fifth Avenue views stretch all the way to One World Trade. The sleek open kitchen dazzles with wooden cabinetry, custom under cabinet lighting, Ceasarstone quartz Countertops and a fleet of upscale stainless steel appliances, including a Viking gas range, Miele dishwasher and French door Sub Zero refrigerator.

The desirable split-bedroom layout places the owner's suite alongside the western exposure, where you'll find three extra-large closets and a gleaming en suite bathroom with a frameless glass shower featuring a Grohe rainshower head, gorgeous tile and outfitted with Robern vanity and medicine cabinet, Dornbracht fixtures and a Toto toilet. The second bedroom faces south and enjoys easy access to a second full bath outfitted with a tub/shower. Both bedrooms are a quiet place perfect for relaxation thanks to CitiQuiet windows. Generous custom closet space, including a huge walk-in closet near the entry, and an in-unit Miele washer-dryer complete this masterfully designed, light-filled haven.

The Wedgwood House is a smoke-free postwar, pet-friendly co-op offering 24-hour doorman service, a live-in superintendent, laundry, bike room and storage. The outstanding landscaped roof deck features panoramic views, and the onsite parking garage is accessible from within the building.

Located at the intersection of the Flatiron District, Union Square, Greenwich Village and Chelsea, this home is surrounded by the best of Manhattan living. Foodies will love the easy access to Whole Foods, Trader Joe's, Eataly and the Union Square greenmarket. Enjoy glorious outdoor space and events at Madison, Union and Washington Square Parks. Access to transportation is unbeatable with N/Q/R/W, 4/5/6, L, F/M and PATH trains, abundant bus service and CitiBike stations all within easy reach.

Why is New York’s Houston Street Pronounced ‘How-stun’?

One of the surest ways to know an out-of-towner is if they pronounce it “HUE-stun” instead of “HOW-stun” Street. But have you ever wondered why we don’t say it like the Texas city? The Times received this question from a reader and turned to Gerard Koeppel‘s book “City on a Grid: How New York Became New York” for the answer. According to Koeppel, “Houston the city is named after Sam Houston. Our street was named after a fellow named William Houstoun, who was a prominent Georgian, from a long line of Scotsmen.”

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William Houstoun was born in 1755 in Savannah, Georgia. He began legal training at London’s Inner Temple, but returned to Georgia in 1783 to represent his state in the Continental Congress. He was a delegate in the 1787 Constitutional Convention and was one of the original trustees of the University of Georgia at Athens, but despite his “southern pedigree,” it was his wife who “had the kind of clout that earns a person a street named in his honor,” according to Koeppel.

Houstoun married Mary Bayard in 1788. She was a member of the prominent Bayard family, mostly lawyers and politicians from Wilmington, Delaware who were leaders in the Democratic party and traced their roots to Peter Stuyvesant. In New York, the family owned several large farms, but the same year she was married, Mary’s father, Nicholas Bayard III, fell on financial trouble and had to sell his 100-acre farm in present-day Soho.

In a separate interview with NY1, Koeppel explained, “He figured the only way he was able to hold onto the land was to lay it out into a grid and sell it off in lots.” So he carved it into 35 blocks, naming the east-west streets and numbering the north-south streets (the latter were later renamed for Revolutionary War generals like Wooster and Greene). He named one of these thoroughfares “Houstoun Street” in honor of Mary’s husband. The southern boundary was renamed Bayard Street, which also still exists today. But why do we now spell it “Houston?” Koeppel’s theory is that Sam Houston was gaining so much fame that people began confusing the two spellings.

The Monthly Update - September 2020

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A Tale of Two Markets OR A Tale of Two Brokers?

 

There seem to be parallel universes at play in the New York City real estate market right now. As of the end of August, there were over 8,200 listings on the market, which is about 700 units more than an average August. Meanwhile, about 150 to 175 listings are going into contract every week since the reopening; a typical market week would see that figure at over 250 units. 

 

According to these numbers, the market would be perceived as slow: high inventory, low demand. I hear many agents saying they're getting no phone calls, no emails, no requests to see the properties they're listing and marketing. 

 

And yet there seem to be many more agents, like us, saying that this is the busiest they've ever been! The Hoffman Team has put 20 units in contract in August. We currently have over $10 million in buyers' offers out. We have an inventory of over $40 million in listings, and the majority of them are getting phone calls, offers and plenty of action. 

 

So, what makes us so different? The Hoffman Team takes pride in educating our buyers and our sellers to embrace the unique opportunities that our current circumstances have to offer. We know that this is a difficult time for many, and we will help everyone work through this process as much as we can. But know that there are opportunities for all of those who choose to embrace the moment. We are here to help sellers move on and to assist buyers in starting anew. Whenever there is change, there is opportunity. If you lean into this historic time with positivity, possibilities can emerge, lives can heal, and our world can be reborn from the ashes of the, at times, scary and traumatic events we've been through over the last five months.

 

We choose to embrace this moment. We choose to take the opportunities and educate all who are ready to take this journey with us, whether that's new adventures outside of New York City or an exciting fresh start within our beautiful city. Either way – we think positivity will prevail. That's the tale we choose to embrace.


Compass  News

Compass Launches AI-powered CMA Tool for Agents 

Last month, Compass launched a brand new comparative market analysis (CMA) tool, powered by Compass' investment in artificial intelligence (AI). “Compass’ new CMA enhances our agents’ market expertise by making AI-powered recommendations and simplifying complex data so they can help their clients build the best possible pricing strategy for their home.” 

Continue reading here.


Local Happenings

Stunning Outdoor Dining in NYC

With temperatures cooling down, it's the perfect time to enjoy refreshing fall air, especially while safely dining outside! TimeOut has compiled a list of nine restaurants in NYC that are serving up delicious food and stunning outdoor ambience. Plan your next dinner out here. 


Featured Listings


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155 East 34th Street, Unit 17DE


155 East 34th Street, Unit 17DE

MIDTOWN EAST, MANHATTAN

2 Bed  |  2 Bath | Condo


 

Spectacular high floor two-bed, two-bath unit with panoramic views of the Midtown Manhattan skyline with views of iconic NYC landmarks from the corner window.

Newly renovated this open and bright apartment has been meticulously renovated. The new chefs kitchen with stainless steel appliances is open to the living space which lends itself to entertaining along with the wet bar with minifridge and wine cooler. The master suite features a large L-shaped walk-in-closet, and the new master bathroom has dual sinks and a large soaking tub. This split two-bed unit also has a private washer/dryer and is a must see.

The Warren House Condominium is a full-service building featuring a 24-hour doorman, full-time concierge, and porters. Amenities include; beautifully landscaped roof deck with sweeping city views, garage, cold storage, bicycle room, and private storage.

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After Cuomo Provides Health Personnel, 9/11 Tribute In Light is Back On

It takes nearly 40 stagehands and electricians more than a week to produce the annual Tribute in Light display that marks the 9/11 anniversary each year, according to the New York Times. And because they must work in close contact, the National September 11 Memorial & Museum decided last week to cancel this year’s memorial. Upon hearing the news, Governor Cuomo, however, stepped in and said he’d provide the medical personnel necessary to make the event happen safely.

In a statement, Governor Cuomo said:

This year it is especially important that we all appreciate and commemorate 9/11, the lives lost, and the heroism displayed as New Yorkers are once again called upon to face a common enemy. I understand the Museum’s concern for health and safety, and appreciate their reconsideration. The state will provide health personnel to supervise to make sure the event is held safely while at the same time properly honoring 9/11. We will never forget.

The first Tribute in Light was projected into the sky six months after September 11, 2001. It has then been projected every September 11 from dusk to dawn. The Museum has been managing it since 2012.

The public art installation was developed by the Municipal Art Society and Creative Time, who brought together six artists and designers and a lighting consultant. The projection takes place from the roof of the Battery Parking Garage, just south of the 9/11 Memorial, and is run on temporary generators. From two 48-foot squares, comprised of 88, 7,000-watt xenon lightbulbs, the twin beams shine up to four miles into the sky, “echoing the shape and orientation of the Twin Towers,” according to the Museum.

Prior to the governor stepping in, the Museum had developed an alternative memorial, Tribute in Lights, in conjunction with NYC & Company, the city’s marketing and tourism arm. This would have had iconic New York City buildings, including One World Trade Center, light their spires and facades in blue.

In a statement on their website, 9/11 Memorial & Museum President and CEO Alice M. Greenwald said:

In the last 24 hours we’ve had conversations with many interested parties and believe we will be able to stage the tribute in a safe and appropriate fashion… I want to particularly thank Mike Bloomberg, Governor Cuomo, and the Lower Manhattan Development Corp. for their assistance in offsetting the increased costs associated with the health and safety considerations around the tribute this year and the technical support of so many that will enable the tribute to be a continuing source of comfort to families and an inspiration to the world going forward.

Last month, the National September 11 Memorial & Museum announced that they would not have the traditional “reading of the names” at this year’s 9/11 ceremony. Usually, family members of some of the 3,000 who lost their lives gather on stage and read the names of the victims, often including personal messages. To adhere to social distancing guidelines this year, a recorded reading of the names that’s part of the Museum’s “In Memoriam” exhibition will be broadcast.

Family members will still be welcome on the plaza, and the rest of the ceremony will remain largely unchanged, save for social distancing and mask requirements. This year’s ceremony will begin at 8:30am with the first of six moments of silence beginning at 8:46am, at which time houses of worship will toll their bells. The moments of silence are observed at the exact times each World Trade Center tower was struck and fell, when the Pentagon was attacked, and the crash of United Airlines Flight 93.

304 West 89th Street, Unit 8A


304 West 89th Street, Unit 8A

UPPER WEST SIDE, MANHATTAN

2 Bed  |  1 Bath | Co-Op

Offered At $1,200,000


 

*304 West 89th Street:*
-Co-Op
-Live-in super
-Bike and private storage for rent
-Pied-a-terres are permitted with board approval
-Subletting allowed with board approval for up to two years
__________________________________________

Move right into this flawless, beautifully updated two-bedroom, one-bathroom home in a stunning Upper West Side cooperative less than a block from Riverside Park.

Spanning roughly 1,000 square feet, this home masterfully blends prewar details and contemporary updates. Enter the gracious foyer to discover an expansive living room, featuring Brazillian cherry hardwood floors, 9-foot-tall coved ceilings, handsome millwork and eastern windows. The open windowed chef's kitchen invites you to test your culinary skill with abundant cabinetry, granite counters, glass tile backsplashes and upscale stainless steel appliances, including a vented Bertazzoni range, Leibherr refrigerator, a panelled Miele dishwasher and a Marvel wine refrigerator. An over-sized pull out pantry adds extra convenience. Two spacious bedrooms feature custom Closet Factory closets and extraordinary northern, open-sky views that stretch across the Upper West Side's historic rooftops. The main bedroom features a 10-foot wide custom closet with lots of bells and whistles - 4 separate clothes racks and 3 deep drawers, multiple shelves, and 28 shoe compartments plus 2 pull out racks for belts/jewelry/ties and a pull out bar for dry cleaning. Concealed with NY Sliding Door Company custom built mirrored doors. The windowed bathroom is filled with charming tile and marble, and built-in cabinetry, an extra closet, and designer lighting add style and ease to this exceptional co-op residence.

Designed in 1922 by the acclaimed Rosario Candela, 304 West 89th Street is a handsome brick and limestone co-op where residents enjoy a live-in superintendent who receives packages, a laundry room, storage lockers and bike room. Board policies permit pets, 80 percent financing, parents buying for children, gifting, co-purchases and guarantors with approval.

Set on a tree-lined street near the corner of West End Avenue, this home is at the center of the Riverside-West End Historic District and surrounded by delightful architecture on all sides. Sprawling Riverside Park, itself a scenic landmark, is just seconds from your front door, and Central Park sits less than a half-mile east. The renowned dining, nightlife and gourmet shopping of the Upper West Side is moments away, and access to transportation is excellent with 1/2/3 trains and abundant bus service nearby.
*Current assessment of $166.42 until 12/31/2023

130 West 16th Street, Unit 44


130 West 16th Street, Unit 44

CHELSEA, MANHATTAN

1 Bed  |  1 Bath | Co-Op

Offered At $850,000


 

Enjoy ample sunshine from south-facing windows located in every room of this charming one-bedroom co-op apartment in a sought-after prime Chelsea neighborhood. The quiet, nicely laid out apartment is perched in a gorgeous brick elevator building set in the middle of a tree-lined residential street.

Enter the generous foyer and arrive in the renovated, windowed kitchen, featuring stainless steel appliances and ample counter and cabinet space. To the left of the foyer, you'll find the spacious living room, and to the right, the bedroom. The sun-filled bedroom features ample storage space with a full wall of large closets. In the hallway you'll find the renovated, windowed marble bathroom outfitted with gleaming square tiles and fine fixtures. Nine-foot ceilings rise overhead, while hardwood floors run throughout the home adding to the airy feel of this property.

130 West 16th Street is a fabulous pre-war elevator building featuring a lovely rooftop garden (open April through October) with a wood deck and beautiful city views. The building includes a live-in super, central laundry room and voice intercom system. Set between Union Square and Chelsea Market, you'd be hard pressed to find a better neighborhood in New York. The fabulous High Line is three blocks west. Nearly every subway line A/C/E, 1/2/3, N/Q/R, 4/5/6, L and two PATH trains are located within blocks. Great West Village restaurants, quaint shops and stores and just around the corner from Westside Market and Whole Foods. Pets allowed with board approval. Sublets permitted after one year; no pied—terres permitted.

Lounge and Dine At The Rooftop ‘Lawn’ At South Street Seaport

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Social distancing guidelines have definitely gotten restaurants to be extra creative, like The Rooftop at Pier 17 which has just opened a new dining experience where guests can book one of 28 “mini-lawns.” Called The Greens, the experience has transformed the South Street Seaport rooftop venue into private cabana-style plots, each of which can accommodate eight guests.

Pier 17–a food/drink, retail, and entertainment complex designed by SHoP Architects–opened in 2018, with its 1.5-acre rooftop space serving as a restaurant and cocktail lounge. In addition to an annual summer concert series, in the winter months, the rooftop transforms into the city’s only open-air rooftop ice-skating rink.

The Greens is the rooftop’s newest incarnation. The mini-lawns measure 14′ x 14′ and come with lounge chairs, an umbrella, a beverage cooler, and USB ports for charging electronic devices. There will be proper cleaning procedures, hand sanitizer stations throughout, and contactless ordering done through guests’ individual phones.

Guests also have the option to reserve one of four gaming lawns, also available for groups of up to eight people. They each measure 12′ x 48′ and have available games to rent like bocce ball, cornhole, and giant Jenga. There will be a 32-foot-wide LED screen on the north side of the rooftop, where guests will be able to watch a game. They can also look forward to live music, DJs, and the return of Seaport Cinema.

When it comes to the menu, there are plenty of snacks like calamari, corn on the cob, and hummus. The rest of the food menu consists of seasonal items like a tomato strawberry salad, fish and chips, a lobster roll, and a burger. The cocktails are fun and summery and include a frozen jalapeno-watermelon margarita, a pineapple colada, and a mint tropic punch.

The Greens officially opened on August 1st and is open seven days a week from 11 am–11 pm, weather permitting. Online reservations for the mini lawns and gaming lawns are preferred and can be made in advance on the Pier 17 website.


Giant Gorilla Sculpture Is Coming to Hudson Yards

To raise awareness and funds for the critically endangered gorilla species, public artists Gillie and Marc Schattner have created a massive sculpture of the animal that will be unveiled later this month in Hudson Yards’ Bella Abzug Park. Titled King Nyani, Swahili for gorilla, it’s the world’s largest bronze gorilla sculpture and can fit two to three humans just in its hands.

Gillie and Marc have dedicated a large part of their career as artists to bringing attention to the world’s endangered species through their Love The Last project. Two years ago, they brought a 17-foot-tall sculpture of three rhinos to Astor Place and Downtown Brooklyn. As a protest of the sale of rhino horns, it depicted the last three Northern White Rhinos Najin, Fatu, and Sudan.

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And the artists get passionately involved in their projects. King Nyani is based on the head of a family of silverback mountain gorillas that Gille and Marc encountered on a trip to Uganda. They say they were moved to tears watching the gorilla exhibit empathy and kindness as opposed to the “scary” image so often portrayed.

“It was beautiful watching the silverback interacting with his family. He was so gentle and loving and clearly cared deeply for his family,” said Marc. Gillie added, “We knew we had to let the world know about this loving and gentle side of gorillas. They are often so misunderstood and thought of as scary and dangerous animals. But if they were able to see the silverback, maybe they wouldn’t be so scared.”

But due to illegal poaching, war and deforestation, there are only about 1,000 mountain gorillas and fewer than 3,800 eastern lowland gorillas left in the wild. “We couldn’t sit back and do nothing when these amazing creatures that are genetically so similar to us are in danger,” said Marc.

Inspired by the movie scene where King Kong grabs the woman in his hand, King Nyani’s hand is open for visitors to sit and interact with him. “We wanted to create a sculpture where the public could really get close to the silverback, both physically and emotionally. Being able to sit in his hand and look up to into his gentle face we hope they will fall in love and join the movement to save the gorillas,” explains Gillie.

Through a partnership with the Hudson Yards-Hell’s Kitchen Alliance, the sculpture will be on display in Bella Abzug Park as of August 24, 2020 and will remain on view for 11 months.

Rental: 25 Sutton Place South, Unit 3G


25 Sutton Place South, Unit 3G

SUTTON PLACE, MANHATTAN

3 Bed  |  3 Bath | Rental

Offered At $9,500

(No Fee)


 

Make breathtaking East River views your daily backdrop in this impeccable three-bedroom, three-bathroom cooperative in coveted Sutton Place.

Beautifully renovated throughout, this expansive waterfront home boasts wonderful custom closet space, premium finishes and picture-postcard views from nearly every room. A gracious foyer opens to the jaw-dropping great room where walls of windows to the east and south frame the river and 59th Street Bridge. Enjoy open, airy living and dining areas topped with recessed lighting and integrated speakers while gorgeous herringbone hardwood floors run underfoot. The kitchen is a masterwork in modern minimalism thanks to sleek blonde cabinetry, crisp white countertops and an army of stainless steel and integrated appliances, including a six-burner gas range, dishwasher, two wine refrigerators and a built-in microwave.

Wake up to tranquil water views in the master suite, designed with two California closets, custom built-ins and an en suite bathroom featuring radiant heat flooring and a walk-in rain shower with a bench and handheld sprayer. Secondary bedrooms offer roomy closets, world-class views and easy access to two well-appointed full baths with radiant heat. Smart home controls operate zoned HVAC, sound, lighting and window treatments in this superb Sutton Place haven.

Cannon Point North is an exceptional postwar co-op offering a live-in resident manager and full-time doorman and concierge service. Residents enjoy a fitness center, laundry, private storage, on-site garage, bike room, free Wi-Fi and a renovated private terrace overlooking the East River and bridge. Sorry, no dogs.

Nestled within the sought-after Sutton Place enclave, this home offers the perfect combination of Midtown accessibility and residential serenity. Here, you're just inches from the newly rebuilt Sutton Place Park and the East River Esplanade. Enjoy excellent local shopping and dining and easy access to transportation, including E, M, 4/5/6 and N/Q/R/W trains and the FDR.

The Monthly Update - August 2020

 As of Friday, July 31, we finished our fifth full week of being “open for business,” a process that began in New York City’s Phase 2. While the first two weeks were extremely slow, the last three weeks have seen a flurry of buyer activity. What we’re finding, over and over again, is that price is king! We don’t have firm numbers or percentages off asking price yet, but if sellers aren’t willing to negotiate, buyers have plenty of new and existing inventory to choose from. 

At the time of reopening, resale inventory sat at 5,063. We currently have over 7,500 resale listings on the market, with anywhere from 400 to 600 new listings coming onto the marketplace each week. Astounding numbers! Will it continue? I have to say yes. I believe our market listing inventory will exceed 8,000 in the next two weeks. Unprecedented times call for unprecedented actions. Buyers are out in force. Many people are breaking leases and leaving the city. There is a mass exodus of families leaving for the suburbs who are experiencing bidding wars galore. And yet activity, recently, has been through the roof. All of these things are happening at once while we’re still battling a pandemic and facing an extremely polarizing election just on the horizon. Incredible times we live in. 

That said, interest rates for conforming loans fell under 3 percent, and you can still get a jumbo mortgage for 3.28 percent, which is very good. With pricing adjusted to post-COVID numbers, and a little bit of negotiation to boot, buyers are getting some great deals. It really does feel like the nonexistent Spring 2020 market shifted to mid-July, and it just seems to be getting busier. I’ve never seen so many people who want to list apartments concurrent with a huge number of buyer appointments — it’s practically overwhelming. To deal with the rush, The Hoffman Team has hired a second showing agent. At the time of this newsletter, we had seven contracts signed for July and 11 accepted offers/contracts pending. Incredible numbers for a not quite post-pandemic market. 

Hats off to Compass Founder and CEO Robert Reffkin. He predicted that the 18 months after lockdown would be the busiest in Manhattan real estate history. If this pace keeps up, he’ll be right (as usual).  :-)


Q2 2020 Brooklyn Market Report

Q2 2020 Manhattan & Brooklyn Market Reports

As we continue to experience these unprecedented times, we are here to provide valuable insights into the real estate market so you can stay educated and informed.  We are pleased to share our Q2 2020 Manhattan Market Report and Q2 2020 Brooklyn Market Reporthighlighting the prevailing trends shaping the market.


- FYI -

Visit the Zoo!

After months of closure due to the pandemic, the Bronx Zoo, Prospect Park Zoo, Central Park Zoo, and Queens Zoo have partially re-opened! The current experience will be outdoor exhibits and grounds only, and date-specific tickets must be reserved in advance. Learn more here!

36 of the Best Grilling Recipes 

Fire up the grill and try one of Better Homes and Gardens' favorite grilling recipes. Choose classic main dishes—grilled chicken, steak, burgers, salmon, ribs, and more—or a delicious side, like grilled corn or pineapple. Dessert is even covered—all fresh off the grill. 

36 of the Best Grilling Recipes 

Fire up the grill and try one of Better Homes and Gardens' favorite grilling recipes. Choose classic main dishes—grilled chicken, steak, burgers, salmon, ribs, and more—or a delicious side, like grilled corn or pineapple. Dessert is even covered—all fresh off the grill. 


Stay Connected

IG: @HoffmanTeam | FB: #TheHoffmanTeam

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Neiman Marcus Closing Its Flagship Shop at Hudson Yards

Neiman Marcus is closing its massive flagship store at Hudson Yards just weeks after filing for bankruptcy in May and a little over a year after first opening at the development. The retailer will also permanently close three other locations, two stores in Florida and one in Washington, according to the Dallas Morning News. Hudson Yards developers Related Companies and Oxford Properties have already started marketing the 190,000-square-foot space as office space.

“We have carefully analyzed all of the changes that have occurred in the retail environment as a result of COVID-19,” Amber Seikaly, vice president of Neiman Marcus, told the Real Deal in a statement. “Customers are and will continue to shop differently than they did prior to the pandemic.”

“A physical location in Hudson Yards is no longer an ideal space for us given the preponderance of restaurants and future office space in that mall.”

As 6sqft previously reported, the Chapter 11 bankruptcy filed by Neiman Marcus allows them to end the lease at the Hudson Yards mall without penalty. Related spent about $80 million on the nearly 200,000-square-foot space, which anchored the seven-story shopping mall.

WWD reported in June that Facebook is in talks to take over the vacated Neiman Marcus space, but no deal has been made public yet. Last year, Facebook leased 1.5 million square feet of office space across 30 Hudson Yards55 Hudson Yards, and 50 Hudson Yards. Most of the space, about 1.2 million square feet, is at 50 Hudson Yards, which is expected to open in 2022.

Related is marketing other retail spaces on the top floors of the mall as well, according to The Real Deal. This totals 380,000 square feet or roughly 40 percent of the entire shopping center.

“It is unfortunate that Neiman Marcus was unable to achieve the success that other retailers have found at Hudson Yards and we look forward to welcoming the designer brands who drove Neiman Marcus’ sales to their own stores in the retail center,” a Related spokesman told CNBC in a statement.

“This opens up a great opportunity to create incredibly attractive office space with the largest floor plates available in New York City, a private ground floor entrance, and 18 foot high ceilings at 20 Hudson Yards.”

Here’s How COVID-19 Will Shape The Mechanics Of Home Buying & Selling

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COVID-19 has already caused homebuyers, homesellers and real estate professionals to take a step back and reevaluate their normal operating procedures. Many of the changes that have become the new normal during these times — from online walkthroughs to virtual closings — have the potential to stick around long after the pandemic subsides.

If you’re wondering whether it’s even possible to buy or sell right now, the answer is a resounding “yes.” You might have to be prepared to think outside the box and ready for the process not to play out exactly as it normally would. The availability and wealth of online marketing and sales tools have allowed the housing market to remain active amid the challenges presented by COVID-19. 

Having a professional real estate agent on your side is as important as ever right now, even for experienced home buyers and sellers. An agent will be able to walk you through the new buying and selling procedures and challenges caused by COVID-19. There are great options for real estate agents in Austin, Texas, and it’s a good idea to meet a few to make sure the fit is right.

Some things to expect if you’re looking to buy or sell:

Open houses and virtual tours: Even before COVID-19, most people start their home search online. The process is likely to stay online a bit longer now as virtual showings replace open houses in many cases. Virtual showings use online videos to let sellers show off their space to buyers. Some buyers have even bought homes without ever setting foot in them because of these virtual showings. During in-person showings, sellers are often requesting that potential buyers wear protective equipment, including masks, gloves and shoe coverings. Sellers also can leave doors opened and lights on so that potential buyers don’t need to touch anything while touring the house.  

Appraisals and inspections: For situations where an appraisal is required to get a mortgage, lenders are allowing alternatives in certain circumstances so that appraisers don’t have to go inside the home. With desktop and drive-by appraisals, appraisers can use market data, photos and exterior views to assess a house’s value. When it’s time for an inspection, it is less common now for buyers and agents to attend the inspection to ask questions. Instead, inspectors are entering the homes by themselves and sharing their reports, along with pictures and videos, afterwards. Inspectors are following safety guidelines while inside homes, as well, including wearing shoe coverings and wiping fixtures with sanitizing wipes after handling them. 

Closings: There are a growing number of ways to close on a house that don’t include sitting in an enclosed space with several other people and signing an endless number of paper documents. Some states allow or are in the process of allowing virtual closings, where documents are signed with a virtual notary present. Curbside closings are also popular, where documents are shuttled back and forth to buyers who stay in their car. Additionally, some lenders will send out or personally deliver documents to be signed at buyer’s homes. Your real estate agent will be able to discuss the options available in your area. 


COVID-19’s impacts on buying and selling homes will last long into the future, but your real estate agent will be able to hold your hand through the experience and answer questions that come up along the way. If you are looking to buy or sell while the pandemic is still ongoing, these new and evolving processes are helping to keep the housing market running smoothly and efficiently.

356 West 23rd Street, Unit 3B


356 West 23rd Street, Unit 3B

CHELSEA, MANHATTAN

Studio  |  1 Bath | Co-op

Offered At $549,000


 

With a prime location just one avenue from the High Line and footsteps from the nearest subway station, this stylish, modern, and recently updated studio puts you at the heart of all the best that Chelsea has to offer.

Timeless architectural flourishes fill the space with personality, including an exposed brick wall lining one side of the apartment, painted a gleaming shade of white, that brings the room to life when illuminated by the natural light that pours in from the south-facing window at one end. Beautiful hardwood flooring runs throughout the gorgeous and sun-drenched living area, which is anchored by a large mantel.

Classic features like those blend seamlessly with more modern details, such as the stainless steel appliances—including a dishwasher—in the sleek, spacious kitchen at the center of the apartment, with its wide countertops, elegant cabinetry, and bar-like seating area perfect for entertaining guests. A stainless steel fridge with a freezer drawer (plus ice maker!) sits directly across the way, surrounded by four large closets. Two more closets—which run the run all the way to the top of the apartment’s high ceilings—are located in the sleeping area, ensuring storage space won’t be a problem. No detail was spared in the bathroom, either, with its boutique, hotel-like air of minimalist sophistication.

This charming boutique co-op has a brand new virtual doorman/intercom system and a common laundry room. Perhaps the biggest draw, however, is the neighborhood: When you’re in need of an escape, many of the city’s best restaurants, bars, and shops are just minutes away.

Pied e terres and co-purchasers welcome.

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Indoor Dining and Museums Will Remain Closed When NYC Enters Phase 4 Next Week

In a press conference today, Governor Cuomo announced that NYC is, in fact, on track to enter the fourth and final phase of reopening on Monday, July 20. But just like with phase three, the city’s reopening will look a bit different than the rest of the state. No additional indoor venues like malls and cultural institutions can reopen yet, and there’s still no date for indoor dining. The governor also doubled down on bars and restaurants violating social distancing and face-covering rules in a new “Three Strikes and You’re Closed” initiative. Any establishment that receives three violations will be immediately shut down, and walk-up bar service is no longer permitted.

“It’s wrong. It’s dangerous. It’s selfish. It’s unacceptable,” said Governor Cuomo this morning about restaurants and bars in violation of social distancing protocols. “We’re also going to post the names of the establishments facing disciplinary charges,” he said, adding that a business could also be closed on their first violation if it’s especially egregious. For weeks, the governor has been making an example of New York City’s lack of enforcement when it comes to these issues.

In addition, the governor’s new regulations say that restaurants and bars statewide may only serve alcohol “to people who are ordering and eating food,” meaning that many of the city’s bars that are currently serving alcohol and seeing people congregate on the sidewalk and street must cease operating their walk-up bars. “All service at bar tops must only be for seated patrons who are socially distanced by six feet or separated by physical barriers,” the regulation continues.

His continued halt on indoor dining and the new announcement about other indoor venues, however, is due to the COVID surges we’re seeing around the country. Though there is currently a 14-day quarantine mandate for travelers coming from 22 states, it’s difficult to enforce, and the governor is concerned about a second wave. He also pointed to issues seen elsewhere in the nation related to indoor virus spread, especially in places without any air conditioning filtration systems.

The state’s general list of reopenings and rules for phase four are as follows:

  • Low-risk outdoor arts and entertainment, including zoos and botanical gardens, operating at 33-percent capacity

  • Low-risk indoor arts and entertainment, including museums and aquariums, operating at 25-percent capacity

  • Film and movie production

  • Higher education

  • Indoor religious gatherings, operating at 33-percent capacity

  • Social gatherings of up to 50 people

  • Professional sports without fans

For outdoor arts and entertainment, zoos and botanical gardens will still be permitted to reopen in New York City. All Wildlife Conservation Society zoos in NYC–the Bronx Zoo, Central Park Zoo, Prospect Park Zoo, and Queens Zoo–previously announced that they’d reopen to members on Monday, July 20, and to the general public on Friday, July 24, with advanced reservations required. The New York Botanical Garden plans to reopen with an “Appreciation Week” from July 21-26 for garden members, Bronx neighbors, and Bronx health care heroes. They plan to open for public access on July 28; everyone must reserve timed-entry tickets in advance. The Brooklyn Botanic Garden has not announced any reopening plans yet. This week, the High Line and Governors Island reopened with new advanced reservation systems.

Today’s news is an especial blow to museums. The New York City budget that was adopted on July 1 cut cultural affairs spending by nearly 11 percent. And in a report released this week by the Department of Cultural Affairs, the city’s arts organizations are seeing evenue losses and unanticipated expenses nearing $550 million. According to Crain’s, “more than a quarter of arts organizations reported reducing staff. That means 15,149 employees at city arts institutions out of work.”

But it seems as though many of the city’s museums foreshadowed a later start date. The Metropolitan Museum of Art (who has already laid off 81 employees) announced earlier today that it would reopen five days a week but not until August 29. When the New-York Historical Society reopens on August 14, it will be for an outdoor exhibit only; they plan to reopen indoors on September 11.

Others, however, were excited about what they thought next week would bring. The Museum of the City of New York (who has laid off 20 of their 100 full-time staffers) was planning to reopen on July 23. Luckily, part of their reopening included an outdoor exhibit about coronavirus in NYC.

Professional sports without fans are still moving ahead. Both the Yankees and the Mets resumed training at their home stadiums on July 1, and an opening day for July 23 and 24. At least four Yankees players, however, have already tested positive for the virus.

It’s unclear if social gatherings of up to 50 people will still be permitted in NYC’s phase four, as the city has already cancelled all large events, like the Feast of San Gennaro and the West Indian-American Day Carnival, through September.

Though the city is on track to enter phase four on Monday, the governor will make a final decision about it tomorrow.

220 Madison Avenue, Unit 4R


220 Madison Avenue, Unit 4R

MIDTOWN SOUTH, MANHATTAN

1 Bed  |  1 Bath | Co-op

Offered At $710,000


This expansive one-bedroom, corner co-op features gorgeous updates, wonderful light and a perfect Murray Hill location.

Spanning approximately 850 square feet, the spacious and pin-drop quiet home greets you with an oversized foyer filled with three roomy closets. Ahead, the extra-large living room provides a generous footprint for seating, dining and home office areas paved in hardwood and topped by tall ceilings. The newly renovated kitchen and dining alcove welcome lively gatherings and quiet meals with wraparound windows, lovely cabinetry and open shelving, and upscale stainless steel appliances including a Bertazzoni range and Bosch dishwasher. Down the hallway, the updated bathroom features lovely tile, great storage and a glass shower over tub. Bathed in southern light and open-sky views, the king-size bedroom features an extra-large closet with custom shelves and multi-level clothing storage.

The John Murray House is a revered prewar cooperative where residents enjoy full-time doorman service, a live-in superintendent, an on-site parking garage, a glorious landscaped roof deck with up-close Empire State Building views, updated elevators and common areas, supplemental basement storage, central laundry and a bike room.

Surrounded by historic landmarks and storied institutions, this Murray Hill location offers fantastic access to Kips Bay, NoMad, Gramercy, Chelsea and all of Midtown. The new Amazon offices slated for the former Lord & Taylor building will be just less than three blocks away, and Grand Central Station, Penn Station and Bryant Park are within easy reach. Access to transportation is excellent with S, 4/5/6, 7, B/D/F/M, N/Q/R/W and Metro-North trains plus the 34th Street Ferry Landing and Midtown Tunnel all nearby.

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111 East 75th Street, Unit 8A

111 East 75th Street, Unit 8A

UPPER EAST SIDE, MANHATTAN

2 Bed  |  1.5 Bath | Co-op

Offered At $1,095,000


 

Welcome home to this quiet and stylish 2 bedroom on tree lined 75th street. Currently configured as a giant 1 bedroom loft like space with an open living room and formal dining room which are divided by french doors.


Enter through the foyer with coat closet to a luxurious dining room featuring crown moldings and a working wood burning fireplace. Oversized new windows are angled north and east. The sun-filled living room faces south onto 75th street and has ample closets and light. The kitchen features a Thermador stove with four burners and a grill, a vented hood, and quartz countertops. There is plenty of cabinet space for storage, and a pantry (the pantry can be easily converted back to a half bath if you prefer). The bedroom features a large closet, and faces south as well with plenty of bright light streaming in during the day. The hallway features a storage closet and linen closet, and leads to a clean bright white windowed bathroom.
Please see the alternative floor plan for the original 2 bedroom layout.

Built in 1925, this boutique elevator building has a live in super, laundry room, and storage. Located on a great UES tree lined block. Easy access to the subway at 77th st., great shopping and restaurants, and minutes to Central Park. There is also a convenient parking garage next door. The building requires 35 percent down at purchase.

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