Summering In The City

As the city has gotten cleaner, greener and safer — and let’s face it, wealthier — New Yorkers are creating elaborate private terraces to augment their homes and provide a lofty perch to engage in al fresco entertaining.

Taking advantage of previously under-used roofs, these terraces offer sturdy Amazon-sourced wood decks, landscaping with mosses and fruit bushes, sleek Belgian metal seating and kitchens that can rival the ones in the apartments downstairs. In fact, bedazzled with grills, fridges and flat-screen televisions, these spaces can be replicas of interior versions, save for an overhead view of stars.

In step with the ongoing development boom, which makes Manhattan more and more (high-end) residential by the day, terrace construction has grown to become a robust niche of the building business, according to landscape designers, major appliance manufacturers and residents of luxury apartments.

“Not everybody may understand how they can enhance their lives and add value to their real estate, only a specific kind of client,” said Jeff Mendoza, the principal of J. Mendoza Gardens, a New York-focused firm that has designed hundreds of up-in-the-air urban gardens over the years. “But if you can afford to have these kinds of amenities, why not?”

Cost isn’t the only issue. This being New York, and not suburbia, space is usually at a premium, even for the highest-end penthouses. While designers can fashion veritable forests in postage stamp-sized spaces, clients who want distinctive kitchens and lounges will likely require at least 1,000 square feet of space, experts said.

And because New Yorkers share buildings with others, often as part of fussy co-ops, terraces usually require approvals, which can drag out for years: Shareholders want engineers to triple check that no pergolas will come falling down on their heads, and no water leaks either.

But “eventually they get built,” said Todd Haiman, a landscape designer based in Manhattan, who added that steps can be taken to lighten the load and reassure co-op boards.

Private outdoor spaces can be replicas of interior versions, save for an overhead view of stars.

Concrete pavers, for instance, are attractive but weighty. An alternate option in an urban setting is porcelain tile from companies like Kronos Ceramiche (about $15 per two-by-two-foot tile), an Italian firm. Its SKE Coupled line, which resembles wood, is also about a third of the weight of concrete, Haiman said.

Similarly, Mendoza likes to use planters that rise just a few inches above the ground, as opposed to the more traditional 16-inch-deep variety, to reduce mass. And those low-slung types don’t necessarily skimp on greenery, as is evident at a project he completed on a 2,000-square-foot terrace with views of the Hudson River on the Upper West Side, for a client who worked on Wall Street. Mendoza’s firm is a division of New York-based landscaper Blondie’s Treehouse.

On that Upper West Side terrace, low-slung planters filled with minuartia verna, a verdant moss, rim the perimeter and complement larger boxes with trees and grasses. Bi-level planting allows one to “fill more area visually and not add a tremendous amount of weight,” said Mendoza, who deploys the technique frequently.

For another take on gardening high above the sidewalks, there are the blueberry bushes and strawberry plants planted for a client of Haiman’s in Noho on a 1,100-square-foot private terrace accessed by a spiral staircase.

Like many modern terrace-seekers, the Noho client wanted more than just a place to sunbathe. Edged in blue-river stones, the oasis is tricked out with an outdoor shower, a day bed for afternoon naps with storage beneath and space enough for yoga poses, though the client prefers to jump rope.

Landscape designer Todd Haiman created a 1,100-square-foot oasis on a private terrace in Noho.

Though its cooking appliance is just a basic grill, most clients prefer a full kitchen, and they have an array of outdoor-rated (that is, made of stainless steel) appliances to choose among.

Popular brands for outdoor built-in grills include Twin Eagles, whose 36-inch-wide model, which comes with a rotisserie and lid-operated night-light, retails for around $5,000, according to an online search. (Note: New York does not allow gas tanks, only piped-in fuel.)

But the Mercedes of cooking equipment, designers said, is from Kalamazoo Outdoor Gourmet, which supplied the kitchen belonging to high-end architect Lou Switzer, and serves as the focal point of a spacious 2,800-square-foot terrace on the Upper East Side.

That grill, which stretches to 38 inches and offers gas- and wood-burning functions, sits behind a black marble-topped bar against an ipe-wood backsplash, which conceals a tall water tank. A similar-sized Kalamazoo grill retails for about $15,000.

Switzer’s fridge, tucked under the counter like most rooftop models, is also from Kalamazoo; others prefer the brand True Residential. Its solid-door 24-inch-wide model retails for about $3,000, according to Gringer and Sons, a New York supplier.

Switzer designed his own terrace, which also features bluestone pavers, a hot tub and enough leg room for 100-person parties, he said. About all that’s missing is a TV, though he might add one this summer, he said. As long as those flat-screens are shaded and protected from the elements, they can be enjoyed outside, experts said.

For furniture choices, New Yorkers are flocking to Royal Botania. The Belgian brand’s Vigor line, which offers teak-framed sectionals and deep-dyed cushions, are well suited to rain and sun. A sprawling seven-module sectional with a matching table will run about $37,000, a Royal Botania rep said.

Smaller terraces, meanwhile, may be more suited to another trendy European manufacturer, Fermob of France, which produces colorful, petite metal furniture. A bistro table and pair of matching chairs cost about $600 at ABC Carpet & Home in the Flatiron District.

In general, as terrace design evolves, clients are also increasingly considering their impact on the environment. Ipe, which can be harvested from the Amazon jungle by clear-cutting, has fallen out of favor in some quarters. Instead, try black locust, “which is native, lasts a long time and is rot-resistant,” Haiman said.

What’s the total cost of all this decking and pine trees, planters and couches? Assume about $150 to $250 per square foot, or starting at about $200,000 for a spare-no-expenses high-end job, experts said.

That might be a small price to pay to get the best of both worlds, city and country, in one space. Switzer, a married father of three sons and owner of a dog, had been considering relocating from New York to the suburbs before creating his terrace. “I think,” he said, “we’ve gotten our money’s worth out of it.”

Miami Takes The Reigns From New York As America's Rudest City

New Yorkers aren't the angriest urbanites in America anymore.

Miami has taken over as the rudest city in America in a survey conducted by Travel + Leisure, Time Inc.’ s travel magazine.

New York fell to the No. 3 spot. It may have shed its frosty image due to a mild winter that kept locals more cheerful toward tourists, Travel + Leisure reasoned.  

Miami-based travel blogger, Christine Austin, said Miami may have reached its breaking point this winter when tourists crowded beaches and streets. “It feels like you're being stretched to the seams," said Austin. "It’s a lot to handle in a short period of time, and for people who live here, just going to the grocery store is frustrating [because of the traffic].” 

New York City has experienced a steady increase in tourism for more than a decade, with a record 58.3 million visitors last year. While New Yorkers often curse at the crowds concentrated in Times Square, most neighborhoods are not overburdened by outsiders. 

According to Austin, the other factor working against Miami could be how tourists perceive the city.

“People may feel that the locals are always happy, laid-back and relaxed, because they perceive Miami as a fun, beachy, relaxing place to vacation," Austin said. "They are disappointed, [when they realize] we're out there trying to buy groceries and go to work like any regular Joe.”

Dylan Hoffman - #1 Broker in New York City By Transactions | Wall Street Journal & Real Trends 2016

Congratulations! Today Dylan Hoffman was named the #1 broker in New York City, based on transaction volume.

This past month Dylan has been awarded numerous top rankings both in the City and nationwide.  

  • #1 Broker in New York City By Transactions

  • #4 Broker in New York State By Transactions

  • #26 Broker in New York Sate By Transaction Volume Amount 

  • #82 out of 2,500,000+ Brokers in the US By Transactions

  • #101 out of 2,500,000+ Brokers in the US By Transaction Volume Amount

Record-Breaking $154M Home Hits The Market In China

Call it “Utopia” or the “One Billion Yuan Luxury Home”.

A newly built garden home in Suzhou, China, has just hit the market with an asking price of 1 billion Chinese yuan, an equivalent of $154 million, setting a price record in China.

“It is so far the highest luxury listing we have in China,” Jim Hao, vice chairman of Beijing Sotheby’s International Realty, which handles the marketing of the property, told Mansion Global exclusively.

A search of news reports shows that it is the most expensive home in mainland China to ever hit the market. Other luxury homes that came remotely close were previously listed or sold for half the price (not counting a Hong Kong estate that was sold in recent weeks for about $270 million).

The Suzhou garden home, marketed as “Taohuayuan,” meaning “Utopia” but translating literally to “Peach Blossom Land,” sits on a private island on the south shore of Suzhou’s Dushu Lake, China’s biggest lake by surface area. It has a total of 32 bedrooms and 32 bathrooms, with all the bedrooms facing south, desired by many for optimal natural light.

The listing first appeared on June 6. Sotheby’s has started recently marketing the property as the “One Billion Yuan Luxury Home” in reference to the asking price.

Private gardens in Suzhou have been recognized as World Cultural Heritage sites. In recent years, the garden-style homes have been sought after by top collectors, according to developer Sunac China Holdings Limited.

It took Sunac China about three years to build this particular home. It commissioned Xiangshanbang Traditional Architectural and Building Skills to handcraft all the bricks and plants. The craftsmen have manifested their artistic conception of Taohuayuan with the essence of East Asian gardens at its core, and created a space worthy of the highest recognition in contemporary landscaping, internationally.

And apparently it’s worked. “There are quite a few overseas clients who have showed their interests in this unique property,” said listing agent Juan Zhao Feng.

Matt Lauer Unloading Southampton Beach Cottage for $4M

On Monday, 6sqft reported that “Today” anchor Matt Lauer had scooped upRichard Gere‘s Hamptons estate for an impressive $36 million. He’s wasted no time trying to unload his other properties on the island, as the Post reveals today that his Southampton beach cottage has hit the market for $4 million. Located at 67 Scotts Landing Road, the charming waterfront home sits on .75 acres within a community “where houses are generally passed on to the next generation,” according to the listing. This exclusive neighborhood offers tennis courts and access to a bay beach with a pavilion that puts on events.

The cottage is much simpler than Lauer’s new digs; it has three bedrooms and spans just 1,800 square feet. There’s beamed cathedral ceilings and a fireplace in the living room, which has an opening to the country kitchen. Off the kitchen is the dining room that features a lovely bay window.

The enclosed porch has glass doors that lead outside to a deck and down to the yard and 85 feet of bulkhead waterfront.

There also a charming detached garage that’s adjacent to the stone pathway that leads to the front door.

As 6sqft previously noted, “Lauer, who’s notorious for taking a private helicopter back and forth from the city to the Hamptons, also owns a 40-acre farm in Water Mill (where he recently had some beef with his neighbors).”

This Week’s 5 Most Expensive Listings

Here’s our look at the five most expensive residential listings to hit StreetEasy in the past seven days, otherwise known as the crème de la crème of the Manhattan market this week.


30 Park Place #PH82

Address 30 Park Place #PH82
Price $30,000,000
Type/Size Condo: three bedrooms and four-and-a-half bathrooms
This full-floor penthouse in the Robert A.M. Stern designed 30 Park Place is this week’s most expensive listing. Situated on the 82nd floor of the tower, this spread comes with 360 degree views, four private terraces, a library and two walk-in closets.


930 Fifth Avenue 18A–18C

Address 930 Fifth Avenue 18A–18C
Price $19,000,000
Type/Size Co-op
This listing isn’t just one apartment, it’s two. Snap up this combination opportunity and you’ll be the owner of 18A and 18C at 930 Fifth Avenue (where Woody Allen once owned a penthouse). Both units are available individually, but between them will total approximately 5,000 square feet with over 90 feet of frontage on Central Park.


432 Park Avenue #38A

Address 432 Park Avenue #38A
Price $18,350,000
Type/Size Condo: three bedrooms and four-and-a-half bathrooms
This 4,082 square foot spread in New York’s biggest trash can has only been on the market for three days and already it’s in contract. The potential buyers must have been swayed by the library, the private elevator landing and the huge windows with Central Park views.


111 West 67th Street #22EFGH

Address 111 West 67th Street #22EFGH
Price $11,599,000
Type/Size Condo: five bedrooms and five-and-a-half bathrooms
Located at The Park Millennium, this corner apartment spans 3,300 square feet. While it may not be the biggest apartment on this week’s list, with 20 closets it might just have the most storage space. It’s being sold by the anonymous 111 West 67th LLC.


60 Riverside Boulevard #PH4001

Address 60 Riverside Boulevard #PH4001
Price $9,999,000
Type/Size Condo: four bedrooms and four-and-a-half bathrooms
At $9.99 million, this Roman and Williams-designed penthouse is a little cheaper than the homes we usually highlight on this list – but not by much. It’s located on top floor of the Aldyn and has floor-to-ceiling windows and 12-foot-high ceilings. Meanwhile the building itself offers residents access to an athletic club and spa, a playground, a rock climbing wall and a bowling alley.


Monthly Update - July 2016

There's no doubt the United Kingdom's separation from the EU will have reverberations in the Manhattan housing market, but just what those aftershocks may be is not entirely clear at this early stage. 


I’ve already heard from brokers using the Brexit has a negotiating tool and placing low offers on listings, "Hey, I could see you asking that price pre-Brexit, but not post-Brexit!" 


As we now know, the markets have recovered and it’s way too early to see exactly what kind of real impact Brexit will have on the Manhattan housing sector. Our super-luxury market is already at a virtual stand still and other price points are near “snookered”!


There are some that say the UK exit might even help the super luxury end of the market as investors from Europe and other overseas markets, which are subjected to even more turmoil and stress, continue to flock to our shores for a much more stable investments. Large cities, such as New York, Miami, Los Angeles and Washington, D.C. could  see a nice little bump in their luxury and high-end markets from now to the end of the year.


Long term, though, the general consensus is that the adjustment of removing the U.K. from the EU will be tough on the global economy.


So, what should the average buyer or seller make of all this “barmy” news?


Well, for starters, because of all this unease, the Fed will most likely not raise interests rates to ensure the housing market doesn’t see any more undue stress than it needs to for the remaining part of the year. There may be a further adjustment period to add to our already adjusting marketplace because of the Brexit. Or there could even be a pause in the markets while everyone stops to see what’s going to happen—although this is unlikely in the New York City housing market.  Some say this  could be beneficial to buyers as sellers might get nervous and accept a lower price then they’d initially take. For sellers, they might feel skittish at the market and feel there is too much uncertainty, removing their properties from the marketplace, depleting the housing stock and putting downward pressure on the buyer's supply causing demand to increase.


But, personally I feel that the market around $1 million will stay strong, maybe even pick up, and that all other segments will carry on the same paths they were headed on before the Brexit vote — at least for the next 6 months.  

 


 

The Monthly Numbers:

June saw 1,600 new listings come to the market in Manhattan, which is down 869 from May. 

In May 23.5% of all new listings that month were in contract by the end of May. Compared to only 17.7% in June. 

Across the board June saw a decrees in listings in all categories, which is typical. Listing volume on average 35% and a full 59% in the two-bed category.   


2Q16 Manhattan Market Report

  • There were 3,238 closings during the second quarter, a 6% decrease from a year ago. Condo closings increased by 10% while co-op closings decreased by more than 18%, led by a 22% decline in closings under $1M, the property types's largest price segment. Condo sales in both the $3M-$5M and the $5M-$10M categories increased by over 35% compared to last year, largely due to the surge of closings in a number of new developments, most notably The Greenwich Lane, 10 Madison Square West, and 56 Leonard.
  • The 2Q16 median closing price was the highest on record for the market overall ($1,195,000), co-op ($795,000), and the highest second quarter on record for condos ($1,650,000).
  • Absorption is brisk in the Downtown Market, where median time on market (68 days) nearly matched that of Manhattan overall (63 days) despite a median closing price that was 41% higher than Manhattan's.
  • Months of supply is on the rise, as inventory posts slight gains and pace of contract signings slowed.

Download The Full Report HERE


Just Released:

Compass Quarterly  |  Luxury Issue

Download it HERE


The Hoffman Team Has Gone Social


Hoffman Team Active Listings


COMPASS News:


Manhattan's Price Per Square Foot Has Never Been Higher

The sale of luxury apartments in new developments—many of which had contracts signed more than a year ago—have boosted prices to record numbers for Manhattan’s second quarter sales report. Douglas Elliman released numbers on the Manhattan market, finding that the median sales price increased 13.1 percent from the same quarter last year to $1,108,500. The price per square foot was up 31.3 percent to $1,759, another record. And the average sales price rose 13.1 percent to $2,029,075— that marks the second consecutive quarter in which the average price to buy a Manhattan pad surpasses $2 million.

Jonathan Miller, the man behind the numbers for the Elliman report, separated new development sales from resales to get a better understanding of market trends. New development, which accounted for 18.5 percent of all closings, has seen "a heavy volume of closings since 3Q15 that skew to the high end," he says. But it’s worth noting that most of the contracts for new development units were signed 12 to 18 months prior.

If you’re only looking at the new development market (both condos and co-ops), price per square foot was up 28.1 percent to $2,577 and the average sales price was up 4.9 percent to $4,383,078, both record numbers. The number of sales increased a whopping 188.2 percent. As for demand, Miller says, "the below $5 million, new development market is seeing steady sales activity, but is slow above that threshold unless developers are negotiating."

Resale apartments—which make up 81.5 percent of all closings— show more stable pricing, although it’s "stable at a high price point," Miller points out. The median sales price was pretty much unchanged, at $945,000, while the price per square foot was up 13.8 percent to $1,453.

So while the new development sales contributed to all the record prices, the resale market, Miller says, could be considered "tight at the bottom, soft at the top and neutral in the middle... overall, it’s flat." Resale inventory jumped 25 percent—after three years of chronically low inventory—and the pace of the market remains pretty fast. The absorption rate of 7.2 months is slower than a year ago, but the 40-quarter average is 8.2 months.

Compass also found record prices in the second quarter numbers—with the $1.195 million median closing price the highest on record for the market overall. Median prices on co-ops came in at $790,000, and condos at $1.65 million, the highest second quarter on record. They are finding the most demand in the Downtown market: the median time on the market there, 68 days, came close to that of Manhattan overall, at 63 days, despite a median closing price 41 percent higher than Manhattan’s.

Corcoran found the first signs of prices cooling in their second quarter numbers, despite the fact that new development sales continued a year-long trend of double-digit increases. According to the report, "Prices continued to remain near record levels but showed the first indication of settling with the first decrease in average sale price in three quarters (down 6 percent in the second quarter). Average price per square foot also declined by 3 percent for the first time in two quarters, since the third quarter of 2015." Corcoran also called out Downtown Manhattan for its sky-high sales numbers, as 52 percent of all luxury sales took place there this quarter.

Moving back to resales, Halstead offered a breakdown of where they’re all happening. The highest percentage of resales in Manhattan this past quarter were on the East Side, with 21.8 percent, followed by Midtown at 20.4 percent. The firm found that resale apartments spent an average of 88 days on the market, 6 percent longer than the same time a year ago. For both co-ops and condos, sellers accepted 98.2 percent of their last asking price, which was a mere 1 percent less than in 2015’s second quarter.

Bond focused on the increase of inventory this quarter, with partner Noah Freedman noting "that inventory has showed the biggest increase since hitting bottom in late 2013." He also made a distinction between new development and resale: "This also means that after several quarters of the market conversation being dominated by luxury new development, the only area of the market where inventory was increasing, we can start to talk about the strength and stability of resale inventory." He too thinks that the market is poised to balance out more than it has in recent years, with more price corrections in the luxury market.

Finally, Streeteasy tracked rental prices in both Manhattan and Brooklyn for the month of May. They found some slowdown in Manhattan—rentals spent more days on the market last month (an increase from 21 to 24 days), more rentals were discounted (with an increase from 28.7 percent last year to 30.4 percent), and rent price growth is slowing.

The median rent has increased 2.3 percent since last year from $3,206 to $3,280, less than half the rate of the previous year. And there may be more where that came from, as price growth is expected to continue to slow down in the next 12 months. According to the report, "The median resale price is expected to rise 1.2 percent in Manhattan over the next 12 months (down from 2.8 percent growth over the last 12 months). Prices are expected to decline in Downtown Manhattan."

 

There’s also some relief this summer in Brooklyn, with rentals staying on a market a little longer (from 19 to 22 days) and one out of three rental units (32.3 percent) getting discounted. Median rent increased 1.2 percent since last May to $2,873, compared to a 4.4 percent increase from May 2014 to May 2015, and that price is also expected to slow over the next year.

Here’s what StreetEasy economist Krishna Rao has to say about apartment hunting in these hot months: "New York renters have grown accustomed to arriving at open houses with their checkbooks in hand, for fear of losing out on a property. Now, in the face of record-high prices, renters are pausing to weigh their options, easing urgency for summer shoppers in both boroughs."

Gramercy Park: Steeped in History & Grandeur

From its beginning in the 1830s, when Samuel B. Ruggles began to develop Gramercy Park in Manhattan, centered on a private two-acre green space, the neighborhood was meant for the moneyed class. It has expanded through the years to include blocks bordering the East Village and the Flatiron district, but the name still carries prestige.

Christopher Kremer, 28, cares about none of that. Last year he bought a 550-square-foot studio in a 1960s co-op on East 21st Street and Third Avenue for $549,000. “I just like the convenience of it,” he said. “For me, time is money.”

Mr. Kremer, a history teacher, walks to work at the High School for Health Professions & Human Services on East 15th Street. To afford his monthly mortgage of just over $2,000, he said he was cooking more and has stopped contributing to a retirement account that is separate from his teacher’s pension.

“New York City real estate seemed like a safe way to invest my money instead,” he said. “Because of the area, I don’t ever envision a problem reselling this place.”

Those more interested in privacy and status, and who have substantially deeper pockets, may gravitate to the blocks surrounding the gated Gramercy Park itself. The 19th-century architecture invites reveries of characters from Edith Wharton novels leaving their cards at imposing mansions.

7 GRAMERCY PARK WEST, #5D A two-bedroom two-bath condo with a key to the park, listed at $2.5 million. CreditSantiago Mejia/The New York Times

Arlene Harrison has lived on the park since 1971 and is the president of theGramercy Park Block Association, which has about 2,000 members.

“I know who’s moved, who’s cashing in on the value of their apartments,” she said, adding that in recent years the escalation has been “quite shocking.”

“Apartments that were $1.2 million or $1.3 went for $5 million, all cash, and you better put in a bid by tonight,” she said.

Only those with the right address — in the buildings that face the park — get a key to the meticulously landscaped Gramercy Park. A sign posted inside forbids music, alcohol, smoking, dogs, feeding of birds, ball playing and Frisbees.

“I’m the enforcer of the rules,” said Ms. Harrison, a retired special education teacher who described her age as “ageless.” She starts each morning at a window table at Maialino, Danny Meyer’s trattoria in the Gramercy Park Hotel.

“When I see someone I know, I run out with my clipboard,” she said.

One change coming to the neighborhood is Gramercy Square, a condominium development on the site of the Cabrini Medical Center, which closed in 2008. The four-building, 223-unit complex runs from East 19th Street to East 20th Street, midway between Second and Third Avenues.

“They’re putting in gardens, so there’s going to be green space all around it,” Ms. Harrison said. “That’s a positive impact.”

Sales at Gramercy Square are expected to start at the end of the year, and the apartments to be ready for occupancy by late summer 2017. Asking prices will start at $1.215 million for a studio, $1.3 million for a one-bedroom, $2.225 million for a two-bedroom and $3.375 million for a three-bedroom, according to the marketing department at Douglas Elliman Development Marketing, which is handling sales.

“We think of Gramercy Park as the four blocks that face the park,” Ms. Harrison said, “but these days everyone’s trying to get a Gramercy Park address.”

What You’ll Find

An air of grandeur pervades Gramercy Park’s historic district, lined with Italianate and Greek Revival facades, some of which date to the 1840s. Its designated blocks are irregular, belting around the park from East 21st Street to East 18th Street and cinching in Irving Place, where the low-rise, ivy-covered mansions have a charm of their own.

By one popular definition, the boundaries of the wider Gramercy neighborhood run from East 14th Street to East 23rd Street and from Park Avenue South to First Avenue.

A 21st-century high-end development is a seven-story, seven-unit condominium at 355 East 19th Street, expected to be ready for occupancy by the end of the summer. A three-bedroom on the third floor is listed at $2.925 million; the penthouse, with a 780-square-foot terrace, is $3.495 million.

133 EAST 15TH STREET, #1C A two-level loft with a sleeping alcove in a prewar co-op, listed at $825,000. CreditSantiago Mejia/The New York Times

What You’ll Pay

In the first quarter of 2016, the median sales price of a co-op in Gramercy was $666,500, down 2 percent from the first quarter of 2015, according to Gregory J. Heym, the chief economist for Terra Holdings. The median price of a condo, however, rose 38 percent to $2.13 million.

On June 22 a search on StreetEasy.com found 104 properties for sale, ranging from $409,000 for a small studio co-op a half-block from Gramercy Park to a two-bedroom condo on Gramercy Park West for $2.5 million.

As for rentals, Guy Goldman, a founder of Loftey, a real estate start-up based nearby, said the park “adds a bto the market.” A small one-bedroom that included a key to the park recently rented for “an astronomical” $6,500 per month, he said. More typical rentals in the neighborhood were studios ranging from $2,500 to $3,500; one-bedrooms for $3,500 to $5,000; two-bedrooms for $5,000 to $7,000; and three-bedrooms for $6,000 to $9,000.

What to Do

Casa Mono on East 17th Street serves Catalan-style fare. Pete’s Tavern on East 18th, dating to 1864, is solid for burgers and beer.

Nonmembers are admitted to some events at the National Arts Club at 15 Gramercy Park South. An online calendar lists art exhibitions, performances and lectures.

The Gramercy Theater, at 127 East 23rd Street, and Irving Plaza, at 17 Irving Place, showcase mostly rock and hip-hop artists. The Vineyard Theater, at 108 East 15th Street, is an Off Broadway nonprofit company dedicated to taking risks with new plays and musicals.

4 LEXINGTON AVENUE, #ML A one-bedroom co-op with full-time doormen, listed at $519,999. CreditSantiago Mejia/The New York Times

Those without a key to the gated Gramercy Park can amble over to shady, egalitarian Stuyvesant Square or to Union Square, where the Greenmarket is open year-round on Monday, Wednesday, Friday and Saturday.

The Schools

Elementary school students are zoned for Public School 40 Augustus Saint-Gaudens, at 319 East 19th Street (main entrance on 20th Street), which serves about 630 students from prekindergarten through Grade 5. According to the city’s School Quality Snapshot, 73 percent of students met state standards in English in 2014-2015, versus 30 percent citywide; 81 percent did so in math, versus 39 percent.

Middle School 104 Simon Baruch at 330 East 21st Street serves Grades 6 to 8 and has an enrollment of about 1,120 students. Last year 53 percent met state standards in English versus 30 percent citywide; 61 percent met math standards versus 31 percent.

Admission is by application and interview at School of the Future at 127 East 22nd Street, serving about 730 students from Grades 6 to 12. For the middle school, priority is given to those who live in District 2, including Gramercy. Last year 53 percent met state standards in English and 61 percent in math. There is citywide competition for the high school. Average SAT scores for the class of 2015 were 533 in reading, 534 in math and 522 in writing; citywide averages were 444, 466 and 439.

The Commute

Midtown Manhattan is about 10 minutes away via the 6 train stop at 23rd Street and Park Avenue South. At Union Square, options include the 4, 5, 6, L, N, Q and R. The L runs along 14th Street. Buses serving the area include the M1, M2, M3, M101, M102, M103 and M15 running north and south and the M14A, M14D and M23 traveling crosstown.

The History

On Gramercy Park South is the Players, a clubhouse for actors and art patrons founded in 1888 by the celebrated actor Edwin Booth. After Booth’s brother John Wilkes Booth assassinated Abraham Lincoln in 1865, he retired from the stage for around nine months, said Alfred Pommer, an author of “Exploring Gramercy Park and Union Square” (Arcadia Publishing, 2015). “Then he wrote a public letter of apology and went back to being as popular as ever.” In Gramercy Park, a statue of the actor depicts him as a brooding Hamlet.

These Are Some Of The Most Outrageous Requests Celebrities Have Made On Private Planes

When you’re a celebrity, flying on a private jet comes with the gig. It’s the perfect way toavoid long TSA lines and being bombarded by fans. It’s also apparently the way to indulge in some diva-like behavior.

JetSmarter, an on-demand private jet booking app, has flown many of Hollywood’s elite, including Kim Kardashian, Jamie Foxx, Fergie, Jenny McCarthy, Daymond John and Ashley Benson.

For $10,000 a year the company provides its celebrity clientele with unlimited access to its inventory. And in addition to keeping the paparazzi at bay, the private plane company is willing to cater to special and unique requests. And boy do the stars take advantage.

According to JetSmarter, these are some of the most over-the-top requests they’ve ever received. You’ll have to guess the celebrity.

  • One celeb requested an entire plane to be packed with white Casablanca lilies.
  • Another requested to only stock the plane with Cool Ranch Doritos and Sparkling Ice Kiwi Strawberry.
  • For one flight, all of the windows were covered to ensure no natural light came in, as the traveler required complete darkness.
  • There’s a celebrity who flies weekly cross country with a team of stylists and spends the entire time trying on outfits, doing alterations, and laying out clothes for the upcoming week.
  • A couple once took a flight to nowhere, paying nearly seven figures for a six-hour flight where they ended up in the same location where they started. They had a veryexpensive bottle of wine, mid-air spa treatments, expert skin care, and a manicure/pedicure. They brought a world class chef on board, and brought on one of the world’s most well-known opera singers to sing to them for an hour.
  • One celeb requested a private jet from New York City to South Florida — for their cell phone.
  • Another chartered a flight to ship Birkin Bags and clothes back to their hometown after a shopping spree.
  • On one flight, the only music played the entire flight was Liberace.
  • Expert dog trainers were brought on one flight.
  • Food tasters — to make sure the catering fit the celeb's taste pallet — joined another flight.

 

 

Where to Watch NYC’s July 4th Fireworks – for Free!

Are you in town this Fourth of July weekend? If you don’t have a rooftop of your own to watch from (or a friend’s to mooch off), have no fear — there are plenty of free, primo spots to watch the fireworks in four out of the five boroughs. Macy’s 40th annual Fourth of July fireworks show is set off from five barges: one double barge south of the Brooklyn Bridge and the remaining four along the East River, spread between 23rd and 37th Streets. Sparks will begin to fly around 9:20 p.m. and last for about 30 minutes. Jersey City’s Freedom & Fireworks Festival can also be seen from certain parts of Manhattan and Brooklyn and will begin at 9:30 p.m. In case of rain, start times will be delayed — but rest assured that the show will go on.

Pro tip: It’s generally easier to see fireworks from low-rise Brooklyn and Queensthan it is from within Manhattan. See our picks for the best (free!) places to watch below.

Manhattan

South Street Seaport | Financial District

The South Street Seaport hosts their Festival of Independence all day long, so why not make a day of it? Not only will you secure a riverside viewing spot, but you can dabble in all the festival has to offer, including live music, an exhibit by The Parsons School of Design, family programming, and Seaport Smorgasburg, which now includes an outdoor bar. What better way to celebrate America than by day-drinking and eating to your heart’s content until the fireworks start? Designated viewing areas include the FDR via Dover Street, with less stellar views from Fulton Street and Peck Slip.

FDR Drive | Lower Manhattan

The area between Houston Street and Midtown East is a great spot for viewing; access to the highway opens around 7 p.m. with entry points at Houston, 23rd, 34th and 42nd Streets. The elevated portion of the FDR Drive is also an official viewing site, with entrances at Broad Street (ground level), Old Slip (upper level) and Pearl and Frankfort Streets.

Running alongside the FDR and the East River from Montgomery to East 12th Street, the John V. Lindsay East River Park is a great viewing spot for the fireworks display, as is the waterfront area between the Brooklyn and Manhattan Bridges, AKA Two Bridges. If you’re looking for a family friendly place to watch,Franklin D. Roosevelt Four Freedoms Park on Roosevelt Island is hosting a Family Fireworks Celebration from 5 p.m. – 10:30 p.m. The event is free, butadvance registration is required and opens on June 27.

Brooklyn

Brooklyn Bridge Park

According to TripExpert’s data scientist, Brooklyn Bridge Park is the best spot to watch the fireworks. Not only are there fantastic views of the fireworks unfolding over the Manhattan and Brooklyn bridges, but watching from Brooklyn gives you the added bonus of the Manhattan skyline lit up at night. Access the park at Old Fulton and Furman Streets, Joralemon and Furman Streets or Old Dock and Furman Streets and claim your spot early. You can also access the park through the entrance at Atlantic Avenue and Pier 6 until 4 p.m. Limit your picnic supplies to blankets and small bags; the NYPD won’t allow chairs in any official viewing areas and will be checking all bags. Be aware that park attractions like Jane’s Carousel and the Pier 2 Pop-Up Pool will close at 4 p.m, so if you plan on staking out a spot early, prepare for hours of downtime.

Coney Island

Coney Island hosts a July 4th Fireworks Spectacular each year, preceded by the Annual Fourth of July Nathan’s Hot Dog Eating Contest. Around 9:30 p.m, the fireworks begin off the beach near Steeplechase Pier, so grab a picnic blanket and hunker down at Steeplechase Plaza or the Coney Island Boardwalk.

Pro tip: The best seating can be found along the boardwalk or beach between West 10th and West 15th Streets. Not interested in shlepping to Coney for the Fourth? No problem. They’ll be hosting a free fireworks show every Friday night from 9:30 p.m. – 10 p.m. through Sept. 3.

The Brooklyn Heights Promenade is an extremely popular viewing location that boasts a more elevated view of the fireworks than Brooklyn Bridge Park, with an equally stunning view of the Manhattan skyline. Grand Ferry Parkand East River State Park are also good options, though their locations don’t lend great views. Since these Williamsburg waterfront parks put you farther from the action, they might be your best bet for viewing if you prefer to avoid crowds that rival the L train at rush hour. For the same reasons, Greenpoint’s WNYC Transmitter Park is also a good option. An added bonus to watching from Transmitter Park is The Brooklyn Barge, a waterfront barge bar right next to the park that will be hosting a Fourth of July party for the Macy’s fireworks show. The party is all you can eat and drink, so it’s not free — but tickets are still available.

Queens

Gantry Plaza State Park | Long Island City

Since the fireworks are over the East River this year, the view from this Long Island City waterfront park is not ideal. But hey, it still beats watching the show from a screen inside your apartment! We’d only suggest going to Gantry Plaza State Park if you live nearby and won’t be crushed by a less than stellar view of the fireworks display. If nothing else, you’ll have a great view of the Empire State Building and the Chrysler Building.

Staten Island

The Staten Island Philharmonic will perform “American Salute” at 6 p.m. at theAlice Austen House on the water, followed by a viewing of citywide fireworks displays until 10 p.m.

If you’re attending the fireworks with an elderly or disabled person, Macy’s has a great map outlining which areas have been reserved for handicapped viewers, including the Murry Bergtraum High School Track and Vietnam Memorial Park. A full list of access points for these viewing areas can be found here.

Some of the public viewing areas have limited capacity and the NYPD may redirect you accordingly. If you have your heart set on a certain spot, it’s best to post up early.

Not in town this Fourth of July weekend but still want to see fireworks soar across the NYC skyline? Control your FOMO — there are plenty of opportunities to see free fireworks throughout the summer.

*Asterisks indicate unofficial viewing areas. While you are generally permitted to bring lawn chairs or other large items to these locations, it’s possible that some or all of the parks may close. If you’re planning on going the unofficial route, prepare a plan B to avoid total disappointment.

Brexit Has Staten Island Councilman Calling For Secession, "Regardless of Cost"

The world has Brexit fever, which is both a metaphor and an actual virus that causes xenophobia, nationalism and demagoguery in its sufferers. Now that Britain has voted to leave the European Union, plenty of geographic regions are wondering "Hey, why don't we go it alone?" Texas? New York? Uh...Alaska?

New York City councilman (and Trump campaign apparatchik) Joe Borelli took to Facebook to beat the drums of Staten Island secession once more on Thursday. If he gets his way, does that mean that Staten Islanders who move here become transplants?

On Facebook, Borelli applauded Great Britain's vote, taking it as an opportunity to revive the dream of an independent Staten Island, "regardless of cost":

The CSI that Borelli was referring to isn't the hit CBS drama, but rather the College of Staten Island, which studied the issue in 1991 and 1992, then released a paper in 1993 endorsing the decision. Buried in there is the gem that back in 1992, 68% of Staten Islandites thought the city would be a worse place to live in five years, which haha, whoops.

If you're too young to remember, or just didn't pay attention to New York City politics before you moved here from Davenport, you should be aware that the potential for New York City becoming four boroughs instead of five is a possibility. The 1993 vote for secession got 65% of the "Yes" vote, and Staten Island only remained a part of the great city of New York due to Mario "The Good Cuomo" Cuomo's insistence that any referendum be approved by the state legislature, which ultimately didn't grant the island its independence. Since then, the idea has been revived occasionally but hasn't gone anywhere.

"Regardless of cost" is certainly an interesting way to look at whether breaking away from the city is a good idea, but when you've got a bad case of freedom fever you're too busy throwing up blood to really think things through. The comments on Borelli's Facebook post suggest the idea still has plenty of support, so get ready to spend the rest of the summer talking about Staxit.

This Week’s 5 Most Expensive Listings

In the past seven days, 12 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings to hit the Manhattan market.


18 Gramercy Park South #Ph

Address 18 Gramercy Park South #Ph
Price $47,500,000
Type/Size Condo: four bedrooms and five bathrooms
This Gramercy Park duplex penthouse is this weeks most expensive listing. The 6,329-square-foot spread last sold in 2012 to Ceas Holdings Ny I, LLC, who paid a cool $42 million, and according to The Observer the man behind the LLC is Houston Rockets owner Leslie Alexander. Check out all the blue accents and the private pool.


12 East 73rd Street

Address 12 East 73rd Street
Price $42,500,000
Type/Size Townhouse: five bedrooms and seven-and-a-half bathrooms
This Henry Allan Jacob-designed townhouse is owned by real estate bigwig Andrew Farkas. The home’s 10,410 square feet are spread across five floors plus an English basement and according to the listing the boldly-decorated house has undergone a complete state of the art renovation by designer Daniel Romualdez.


240 Riverside Boulevard #7A

Address 240 Riverside Boulevard #7A
Price $40,000,000
Type/Size Condo: five bedrooms and seven bathrooms
This gargantuan 10,500-square-foot triplex is at 240 Riverside Boulevard aka The Heritage at Trump Place. It was last bought in 2005 for a little under $3 million (bargain) making this current price tag an impressive 1254 percent price increase. The home comes with three private terraces, a restaurant-quality kitchen and sushi bar, a billiards room, and a spa.


980 Fifth Avenue #18AB

Address 980 Fifth Avenue #18AB
Price $20,825,000
Type/Size Co-op: seven bedrooms and seven-and-a-half bathrooms
This listing is for a combination of two neighboring apartments at the 26-story 980 Fifth Avenue. When joined, the homes will total approximately 6,000 square feet and will enjoy Central Park views.


180 East 73rd Street

Address 180 East 73rd Street
Price $16,750,000
Type/Size Townhouse: four bedrooms and four bathrooms
Built in 1890, this three story carriage house has little information and few photos. According to the listing the home has two entrances, a side entrance and a center entry that is accompanied by a show window once used for commercial purposes.

Luxury contracts down 15 percent during Q2

From top: 400 East 67th Street PH31. Bottom: 141 East 88th Street PHG

The number of contracts signed on luxury pads priced at $4 million and up dropped nearly 15 percent during the second quarter year-over-year, according to Olshan Realty’s weekly market report.

In all, there were 343 contracts signed during the quarter, down from 402 last year even as prices jumped 6 percent to $8.2 million from $7.7 million. Meanwhile, the average number of days on market increased nearly by 24 percent to 274 from 221, and the average discount ballooned to 7 percent from 4 percent.

For the week of June 20-26, there were 25 contracts signed on properties $4 million and up, with a total weekly asking price sales volume was $192.8 million. The average number of days on market was 326; average asking price was $7.7 million; and average discount was 8 percent.

The No. 1 contract signed last week was a penthouse at 400 East 67th Street, asking $16.95 million, down from $21 million in July 2014. With 4,073 square feet, the duplex penthouse has three bedrooms and a 53-foot great room, plus two terraces totaling 3,000 square feet. One is planted with grass and trees, and has an outdoor kitchen and fireplace. The unit last sold for $11.2 million in 2011.

The runner-up was a penthouse at 141 East 88th Street, asking $16 million. The 4,710-square-foot duplex has four bedrooms and a 1,211-square-foot terrace.[Olshan Realty] — E.B. Solomont

Richard Gere Sells Hamptons Mansion For Close to $36M

But it is now in contract to “a high-profile profile mystery buyer” for close to the $36.5 asking price, according to the New York Post.

The property is composed of a 12-bedroom 12-bathroom main house originally built in 1902. However, the “Pretty Woman” star converted the mansion into green, energy-efficient, “eco-chic” paradise.

The estate’s pool faces the Peconic Bay, and the grounds also include a basketball court, lush landscaping, a deep-water dock, beach and a pair of guest houses. Oh and there is waterfront pond with a bridge and an “island inspired tea house” for your super spiritual tea ceremonies

Top 500 Real Estate Agents/Brokers In The Country - Dylan Hoffman #101

June 24th, 2016

There are over 2,500,000 real estate agents/brokers in the United States, Dylan Hoffman was ranked number 101 out of all of them based on transaction volume. 

The REAL Trends 500, now in its 29th year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms. Firms are ranked by both transaction sides and sales volume. Due to the requirement that all information be independently verified, the REAL Trends 500 remains the trusted source for information about the performance of these firms. For the 2016 REAL Trends Survey firms needed to close a minimum of 1,702 transaction sides in 2015 to place in the top 500. Click on the links on this page for a full list of these 500 elite brokerage firms ranked by sides, as well
as a ranking of the top 500 by sales volume.

Brexit Solidifies New York City's Standing As Global Financial Capital

A decade ago, it looked as if London would replace New York as the world’s financial capital. Mayor Michael Bloomberg and Sen. Charles Schumer even endorsed a 2007 report that said New York needed to emulate how London did business or risk losing further ground.

But the financial crisis a year later damaged London’s bid for global financial supremacy. And Friday’s Brexit outcome ended it.

Even before the Brexit vote, London’s bankers and brokers had been seeing business evaporate. The city’s share of the world’s initial public offerings had slipped to 8% from 2007’s 13% through the beginning of this week, according to Thomson Reuters. The value of all companies listed on London's stock exchange has slipped to 6% of the world's market value from 7% in 2007, according to the World Federation of Exchanges. Meanwhile, the value of New York-listed companies accounts for about 40% of total capitalization, up from 36% in 2007.

Fears that more financial activity will migrate to Frankfurt, Hong Kong or New York drove down shares in U.K.-based banks Barclays, Royal Bank of Scotland and Lloyds by more than 20% Friday. New York-based banks such as Goldman Sachs, Morgan Stanley, JPMorgan Chase and Citigroup fell by less than half as much.

The Brexit vote "represents the high-water mark of the European project," said Richard Haass, president of the Council on Foreign Relations, on a conference call Friday in which he also said he feared such aftershocks as Scotland separating from the United Kingdom.

The U.K. has consistently been New York’s largest source of tourists for many years, accounting for 1.2 million or about 10% of all international visitors. With the pound plunging to its lowest level in more than 30 years, many people in Britain will probably cancel or postpone trips and put off big-ticket purchases of all kinds. Tiffany & Co., which does 40% of its European business in Britain, saw its shares fall by 4% Friday.

Bankers were as stunned as everyone else by the outcome of the referendum. On Friday, Morgan Stanley denied a BBC report that it would start relocating 2,000 staffers to Frankfurt and Dublin, observing that there are two years until Britain formally exits the European Union.

A decade ago, business in the Square Mile, Canary Wharf and Mayfair districts was so strong that London seemed poised to capture the title of world financial capital from Wall Street. The city was a center for innovative financial products, such as credit derivatives. (AIG collapsed in 2008 because of doings at its London derivatives division.) In any case, a report prepared in 2007 by McKinsey at the behest of Mayor Bloomberg and Senator Schumer praised the British city for its easygoing approach to regulation and—hard to believe now—immigration.

“The European Union’s free movement of people, for instance, is attracting more and more talented people to their financial centers, particularly London,” the report read.

Goodbye to all that.

 

 

Updated Sales Listing - 211 East 3rd Street, Unit 1B | Improved Price

East Village, Manhattan, NY, 10009

211 East 3rd Street, Unit 1B

1 BED

1 BATH

NOW $795,000

CC: $210  |  RET: $409

One bedroom with home office and Juliette balcony in the heart of the East Village. Unit 1B features slate flooring, custom built-ins, central air, stainless steal kitchen and sound-proof windows. The unit also includes its own vented washer and dryer within a large walk-in closet. The home office is versatile and has three sky lights and a large sliding glass door leading to your private Juliette balcony. 211 East 3rd Street between Avenues B and C is a well-maintained second floor walk-up building with low monthly charges in the vibrant East Village. The excellent location is in the heart of trendy shops and restaurants, art galleries, historic architecture and convenient public transportation, with the F, B, D and 6 trains right nearby. You'll also enjoy easy access to Whole Foods, Tomkins Square Greenmarket, several parks and other great local attractions.