Monthly Archives: October 2011

Old Rail tracks turned Park-High Line Park Manhattan New York

On the Westside of Downtown Chelsea Manhattan, the High Line was built in the 1930s, as part of a massive public-private infrastructure project called the West Side Improvement. The highline carried freight 30 feet in the air, this way, it removes dangerous trains from Manhattan streets.

High Line has not been used since 1980, in 1999, this historic structure was under threat of demolition. Friends of the High Line, a community-based non-profit group then was formed to preserve and developed an idea to keep this structure as an elevated public park.

High Line park look from the street, it is raised above the street level.

Cafe on the high line park that is a fantastic place to have some afternoon snack.

New and ultra chic condo developments near and along the High line park.

Today, the park is open to public with many seasonal blooms, visitors come to High line park to enjoy the sunshine, admire the landscape, the neighborhood has become one of the trendiest place to live in Downtown Manhattan with unique architecture of new condos. The High line park is now one of favorite park among New Yorkers.

If you would like to know more about condos near High line Park, there are many options and availabilities based on your specific requirement. Call us today at (917)837-8869 and we can discuss in private in what will work best for you.

Midtown West- a vibrant Manhattan New York neighborhood

Midtown West also known as Clinton, the Theatre District, or originally as Hell’s Kitchen. Manhattan Midtown West has a distinct personality and history all to itself in Manhattan.
Located generally between 59th Street to the North, 34th Street to the South and from the Hudson River to approximately 8th Avenue.  This is a diverse and large neighborhood with a multitude of landmarks and certain neighborhood characteristics.
Hell’s Kitchen is quite a name. There are many theories and stories about how the area was given this name, but to make a long story short, there has been much transition and gentrification in the last 20 years.  Certain area’s of Midtown West are quite residential with a lot of restaurants, shopping and entertainment options.
The Theatre District area of Midtown West is one of the most trafficked and lively areas for both tourists and resident New Yorker’s.
There have been a number of big development condominium construction in the last 20 years, the anchor being Worldwide Plaza.  This mix used building is one of the most popular condominium buildings in the entire Midtown area.
Midtown West has a distinct feel as zoning laws have kept almost all building heights maxed out at 6 floors. This has given the area a number of smaller more affordable rental and sale options for the residents of this neighborhood.  The taller buildings have typically been found on the avenues, while walk-up buildings are located predominantly between the avenues.
Recently there have been a number of new construction projects in Midtown West including the Link at 310 West 52nd Street, the Dillon at 425 West 53rd St, the Hudson Hill Condominiums at 462 West 58th Street, the Atelier at 635 West 42nd St, the Orion at 350 West 42nd Street, Griffin Court at 800 Tenth Avenue, the Hit Factory at 421 West 54th St, to name a few.  This area has seen these new construction buildings because it’s still possible for developers to purchase the land necessary for these types of buildings.
There are still areas south of 42nd St that are still relatively industrial, where you don’t see as much residential apartments available, but there is a huge project planned for the Hudson Yards redevelopment.  Essentially a brand new neighborhood will be built in this area and it will definitely improve the infrastructure of the Midtown West neighborhood as more retail, schools, and development money will come into this area.
If you are looking to purchase a condominium in Midtown West, we are very familiar with what is available, call us today at (917) 837-8869 or read about other vibrant Manhattan New York neighborhood in our blogs below.
A fantastic Midtown West Condo is 247 West 46th Street, to know more about this Midtown West Condo, click on this link:

Condo owner Checklist-AFTER THE CLOSING

We always like to provide our new condo owner this checklist to ensure they are organized with their important documents.  After the closing, besides all the excitement of decorating a new apartment and setting up new electric/TV/cable account, we would like to remind new condo owners to organize important documents that pertain to their recent purchase for possible future use such as tax filing, refinance, resale and etc.

Here are some of the important items:

  • Condo sale and lease application – If you have completed a condo sales application. It is a good idea to keep a copy of what you submitted to the management.
  • Offering Plan/Amendments/House rules and financial statements of the condo – at the time of the condo purchase, the attorney represented you had completed their due diligence of the building, the attorney should have given you these documents at the time of closing. If not, ask the condo management for a copy.
  • Closing Statement of this condo purchase – any documents you have signed at the closing, you should keep a copy. Most of the buyer’s attorney will send you a closing statement package with the deed of the property and other related documents you have signed.
  • Loan application and Lender documents – This will be very useful if you financed your purchase for future resale or refinance.
  • Home owner Insurance Certificate – If you obtain home owner insurance, make sure you have a copy of the certificate and insurance agent’s contact information.
  • Lastly, a list of all the parties that participated in the purchase of your new condo- this list should have name and contact information of: Buyer, Seller, Buyer attorney, Seller attorney, Bank attorney, Mortgage banker, Bank name, Buyer’s agent, Seller’s agent and anyone else that played a part of this successful purchase.

Call us now (917)837-8869 or email us if you have questions about Manhattan New York Real Estate.

Other very helpful articles if you are thinking of buying a Manhattan New York condo:

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Foreign Nationals Financing in New York city

If you are an international buyer, foreign national looking to purchase investment condo or property in New York city, now there may be financing option available to you. The borrower should meet the following requirement in order to qualify. This is offer (updated on October, 2011) through Douglas Elliman Capital Mortgage company.

Below are basic requirements, each borrower will have very specific list based on individual:

  • $450,000 minimum loan amount, $3,000,000+ maximum loan amount 40% minimum down payment
  • 18-60 months post closing reserves are required, depending on loan amount
  • Borrower must establish an escrow account equal to 9 months PITI
  • Borrower must establish a second account designated for automatic loan payments
  • Income documentation required
  • Eligible property types include co-ops, condos, single family homes
  • Title may be held in the name of a corporation
  • 75 day rate lock
This means the minimum sales price of the property will be about $750,000 or more. Most of the Manhattan New York housing products are eligible for this program, and as many of our Foreign international buyers, they prefer to held title in limited liability corporation (LLC) which this is possible too.

**WE ARE NOT MORTGAGE BROKERS**, we are Real Estate agents that are have successful experiences working with foreign international buyers in Manhattan New York. We work with mortgage professionals that can provide financing for you if you are seeking financing. Call us today (917)837-8869 to discuss your Manhattan New York Real Estate purchase.


Here are more helpful articles for Foreign nationals buying in Manhattan New York:

  1. Can Foreign international buyer buy a Manhattan NYC condo?
  2. Foreign Buyer Frequent Asked Questions
  3. Use Local Expert for you Manhattan New York condo purchase
  4. How to determine a good Manhattan New York condo investment

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Central Park South Condominium Market Report for September 2011

Central Park South Condominium Market Report for September 2011

This CPS market report is going to contain the current availabilities for 2 bedroom and larger condominium apartments for sale on Central Park South. Central Park South is located on 59th Street from 5th Avenue on the East to 8th Avenue on the West. There are a variety of reasons that make Central Park South condos some of the most desirable real estate in all of Manhattan but in my opinion the commanding views of Central Park could be the most desirable feature.

From Central Park South you see both the city views of both the Upper West Side and Upper East Side along with an unparalleled view of Central Park right in front of you.

There are not that many condominium buildings along Central Park South, just a handful, including 110 Central Park South, 100 Central Park South, 106 Central Park South, 160 Central Park South.  You also have the Plaza Residences at the corner of 5th Avenue and Central Park South.

The two bedroom and larger market ranges in price from $24,000,000 for a 5 bedroom apartment for sale at 110 Central Park South to $1,500,000 2 bedroom condominium for sale at 160 Central Park South.  Other than size the most important feature of the apartment that will determine price is going to be view.  Even though you buy a condominium in a building located right on Central Park South does not mean that you will have a view of Central Park from your apartment.  The price difference for the same size apartment in the same building with and without Central Park views can be quite dramatic.  There is only so much frontage in any building for Central Park views and ultimately some apartments will not have the Central Park exposure.  Even the apartments with Central Park views will be configured in a way that typically the living room and dining room’s will have the Central Park Views and the bedrooms will be facing the back of the building.  There are some apartments that will have Master Bedrooms facing the Park and those apartments will be quite rare and in a higher price point.

Another important characteristic of living in a Central Park South condominium is that the views from the back of the building facing South will typically not be an open city skyline view unless you are on a higher floor, possibly 15 or higher(different for every building).  So the bedroom views could be of the back of another building.

The two (2) bedroom market for a Central Park South condominium for sale ranges in price from $9,000,000 – $2,000,000. But expect the average price range to be in the $3,000,000-$4,000,000 range if you want a Central Park view.  Right now there are approximately One Dozen, Two (2) bedroom apartments for sale on Central Park South.

The three (3) bedroom market for a Central Park South Condominium for sale ranges in price from $5,000,000 – $9,700,000. There are six, Three (3) bedroom condos for sale right now on Central Park South.  Typically the larger the apartment the more likelihood it faces Central Park, but not 100% of the time.

The four (4) to five (5) bedroom market for a Central Park South Condominium for sale ranges in price of $8,000,000- $20,000,000. This size of apartment can range in price very dramatically as you start to look at Penthouse apartments, duplexes,  or combination apartments with sizes that can be 3,000-5,000 sq ft.  If you are looking for an apartment this size, it’s best to have the specific characteristics you are looking for ready so we can discuss what is currently on the market, or available in other notable buildings in the area.

Overall Central Park South condominiums for sale is going to offer some of the best Central Park views, access to shopping and restaurants and the services and amenities of a 5 star hotel.  If you are looking to purchase, rent or sell your Central Park South apartment contact me today at (917) 837-8869 and we can discuss privately what it is that you are looking for.  Your specific criteria will be discussed and we can talk about your apartment options for your very own Central Park South Condominium residence.

Once again, to call me at (917) 837-8869 or email us.

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Greenwich Village 1 Bedroom Condo Apartments for Sale Market Report

Greenwich Village 1 Bedroom Condo Apartments for Sale Market Report

The 1 Bedroom Condo Market in Greenwich Village is one of most desirable yet has some of the lowest inventory levels of all neighborhoods in Manhattan. Greenwich Village 1 Bedroom Condos for Sale is highly desirable for both end users who will be looking to live in the apartments themselves and for investors as the area is surrounded by a number of college campuses including NYU, Parson’s, and Cooper Union.  You have very little inventory along with a very high demand, this creates a real estate market where there are not that many choices and the prices reflect the market conditions.

The supply constraints in Greenwich Village are due to the fact that there are very few condominium buildings in the Greenwich Village real estate market, the vast majority of buildings are co-operative in structure. Most of Greenwich Village falls under the Greenwich Village Historic District, making new development condominiums more difficult to build.  There are are a few condominium developments planned, but they are still a couple years out from entering the market. Unlike other neighborhoods where new development condos created a lot more inventory, Greenwich Village is and will continue to be more immune to an oversupply of condos for sale.

Currently, as of the end of September 2011, I see approximately 12 (Twelve) One Bedroom Apartments for Sale in Greenwich Village.  This included both condo and cond-op properties.

A breakdown of the price range for 1 Bedroom Condos for sale in Greenwich Village is:

$650,000-$1,000,000: I see available 4 (Four) apartments in the sub-$1,000,000 price point right now in Greenwich Village. The $650,000 condo is for a Junior 1 Bedroom, not a true 1 bedroom condominium, and is found in 184 Thompson St Condominium, Jr 1 bedrooms will be found in this building occasionally. There is another 1 bedroom condo for sale in Greenwich Village also at 184 Thompson St asking $960,000.  The other two apartments are found in the Cond-op buildings in Greenwich Village, 63 East 9th St-The Randall House and 60 E 8th St-Georgetown Plaza. Georgetown Plaza is a very popular building as it allows for investment purchase and it consistently has large true 1 bedroom apartments for sale for less than $1,000,000.

Overall you will find very little supply for a 1 bedroom condo for sale in Greenwich Village.  There are a few buildings where these condos will be found and when something is priced consistent with the market it will sell very quickly, expect to see large turnouts at the open house and offers to come quickly.

$1,000,000-$1,500,000: This is the price range where the bulk of the 1 bedroom Greenwich Village Condos for Sale will be found. Right now I see 6 (Six) One Bedroom Condos for Sale in Greenwich Village available.  In this price point you will start to see pre-war condominiums come available.  The pre-war condominium market is a niche in the condominium market in Greenwich Village.  It is a segment of the market that has an even more limited availability including the Bing and Bing buildings, including 59 West 12th Street, 45 Christopher Street, 299 and 302 West 12th Street.  Some other notable pre-war condos including 28 E 10th St-The Devonshire House, 115 Fourth Ave-The Petersfield, 2 Cornelia Street at the crossroads of Greenwich and West Village and 25 Fifth Ave.

This segment of the market will find condos in full time doorman condos, typically ranging in size from 800-1100 sq ft, some in pre-war buildings, some in a renovated condition. For a true 1 bedroom in a well established condominium building you will probably find yourself in this price range.

$1,500,000+: This price point you will find the more exceptional properties, typically 1100 sq ft+, outdoor space, exceptional renovations, possible views, loft like spaces.  This segment of the 1 Bedroom condo for sale Greenwich Village market will afford you to see higher floor apartments, usually renovated, in very well established buildings.

Overall, the 1 bedroom condo for sale in Greenwich Village is a very in demand segment of the market. If you are looking to buy in this neighborhood you have to understand the market conditions that exist and the best way to locate your apartment. Greenwich Village has a very rich history in New York City and is considered one of the premier Manhattan neighborhoods.  The downtown location along with proximity to universities, shopping, restaurants, and shopping, is arguably unmatched.
If you are interested in buying, selling or renting a One Bedroom Condo in the Greenwich Village Neighborhood contact us today, at (917) 837-8869 or email Morgan.Evans(@)elliman.com and we can discuss your specific need.

Here are some helpful Greenwich Village articles you may find it useful.

Midtown East Manhattan New York One Bedroom Condo Market Report

The Midtown East One Bedroom Condo Market has a very robust amount of inventory.  Midtown East is one of those areas that can encompass a number of different neighborhoods within it’s general borders. I am describing the Midtown East Condo Market has being geographically located from 57th Street on the Northern Border, 34th Street on the Southern Border and everything between the East River and Fifth Avenue.  Naturally that is a very large area so a lot of condominium buildings will be located in this area.
Some of the neighborhoods that could be somewhat included here are Murray Hill, Sutton Place, and Turtle Bay.

There is a vary wide range of Midtown East One (1) Bedroom Condominium Apartments For Sale available. The price range for a Midtown East 1 Bedroom Condos for sale starts around $550,000 and goes up to $2,850,000.  Clearly this range is very wide and the size, condition, location and building are all very important factors that distinguish value in the Midtown East 1 bedroom condo for sale market.  In total as of this post, I see approximately 130 One Bedroom Midtown East Condos for sale.  That might seem like a very large number but what is important is to look at the break down of the price ranges because people searching in the $750,000 range don’t look in the $1,500,000+ range.

$550,000-$700,000: There are approximately 30 One (1) Bedroom Condos for sale in the Midtown East Condominium market. This segment of the Midtown East 1 Bedroom Condo market is the most active segment, meaning that you will see apartments sell relatively quickly in this price point without a lot of negotiation.  Most of the apartments will be in the 600-650 sq ft range, in doorman buildings probably built in the late 1980s.  What you won’t see is new construction apartments, high floor with amazing views, completely renovated.  You may see one of those elements but not all of them.  Some of the buildings in this price range with Midtown East One (1) Condos for sale could be: The Vanderbilt at 235 E 40th St or 216-218 E 47th St-The Octavia.  Both of these buildings are very well established, in good locations.

$700,000-$1,000,000: There are approximately 50 One (1) Bedroom Condominiums for sale in the Midtown East Condo Market. This is where the majority of the inventory nearly 40% of the apartments for sale are priced between $700,000-$1,000,000.  There is a lot of variety in apartments in the price range, you will see apartment size typically 700-950 sq ft. You will start to see apartments have a 2nd Half Bath, some apartments will start to be on higher floors(25+).  Something to consider is that in this area more than likely to get a nice view you will have to be in the 20+ floor range, any lower and you might be looking at the other side of another taller building.  Some of these apartments will be in luxury buildings, like 865 United Nations Plaza or other new development buildings.  This is a price range where you need to know what you are looking for because there is a lot of inventory out there.

$1,000,0000-$1,750,000: There are approximately 40 One (1) Bedroom Condominiums for sale in the Midtown East Condominium Market.  Now at this price range you will start to focus on some of the more luxurious and prestigious buildings such as 845 or 865 United Nations Plaza, or 425 or 325 Fifth Avenue, or the new construction buildings.  Now you will be looking in the 800+ square feet category, lots of high floor with very nice views, typically 1.5 bath apartments, dining alcove spaces off the kitchen and living room, and better locations along Fifth Avenue, Park Avenue.  This is a very large price point, for a 1 bedroom but there is a payoff that you will be getting a very nice apartment with a lot of features.

$2,000,000+: This price range consists of the some of the best 1 bedroom Midtown East Condominiums that are going to be available. Now you will almost certainly be in certain luxurious buildings, with dramatic Empire State, City and Water Views.  Most apartments will be renovated or recently renovated, you will be on Fifth Avenue or Park Avenue locations or in one of the Trump World Tower buildings.  This is a price point where there is not a lot of inventory, approximately a dozen apartments on the market, but those apartments will definitely give you a lot in terms of size, views, location and building amenities.

In Summary: As you can see the One (1) Bedroom Midtown East Condominium market is varies in price from approximately $600,000-over $2,000,000. There are a variety of buildings to choose from in this area.  If you are interested in this area, our advice is to give us a call (917)837-8869 and we can talk about the current availability and what is selling in this market.

Read more of our helpful blogs below:

Buy a Manhattan NY Condo as first time investor?

Do you know How to Buy a Manhattan New York Condo as first time investor?

We are full time Real Estate agents that focus on Manhattan Condo market, we help finding NYC condos for first time investors, first time home buyers, parent buying for children and international buyers buying in Manhattan New York.

Buying a Manhattan New York Condo as first time investor, you should ‘play it safe’, do not over leverage yourself. If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to alocal Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you. We can recommend you a reliable and knowledgeable Manhattan mortgage consultant or You may have a bank that you are currently banking at, you can ask them to refer you a Manhattan branch mortgage banker as well. As an investor, the mortgage interest rate will be slightly higher than others, it is important to keep that in mind when figuring out your monthly expenses.

As a first time investor, buying a Manhattan New York Condo you should have a clear goal of what you plan to achieve in this investment. Is this a 5 year Real Estate plan or 10 year Real Estate plan? Why do you feel is the time to invest? Are you going to have a tenant in place the entire duration or only part of the time. Have you discuss this with your accountant to understand how to structure this transaction to receive the most tax benefits or possible tax complications?

Buying a Manhattan New York Condo as first time investor, team up with us, the experienced Manhattan Condo specialists that can guide you through this process and navigate through the Manhattan Real Estate maze. Whether you are a first time Real Estate investor, or an investor that have bought and sold multiple properties in other parts of United States or country, we can help.  Understanding the local market with the market expert can maximize your investment and avoid any possible problems down the rule. Many of our past clients are first time investors, they have bought many Manhattan condos under our guidance and continue to do so because we have developed a Real Estate plan for them. If this is something you are interested in,

contact us now at (917)837-8869.

Or contact us:

http://manhattannycondosforsale.com/contact/

Manhattan New York condo buyers frequent asked questions:

Just Sold-Mondrian Condo 250 East 54th Street New York NY 10022

Recently we were able to successfully sold a condo in the Mondrian condo located at 250 East 54th Street to an European buyer. This particular European buyer lived in Manhattan New York more than 20 years ago and had many fond memories of this wonderful city. Therefore, it has been this buyer’s dream to own a condo here so he and his family can stay whenever they visit this big city, and they can called New York their second home.

250 East 54th Street, the Mondrian condo located at Midtown East location is one of the most colorful condo in the Midtown skyline of Manhattan. The Mondrian condo has an Equinox fitness club with a pool is located in the building and residents have access through the main lobby. The building offers 24 hour premium services including an on-site building residents manager as well as full-time concierge, doorman and maintenance staff.

Mondrian condo is very desirable condo for someone who loves Midtown neighborhood, it is very convenient to all major transportation, offices, fine restaurants, theaters, and other entertainments that this city has to offer.

Read other helpful blogs:

Call us (917)837-8869 to find your perfect second home in Manhattan New York.

Condos near Parsons School of Design

Condos near Parsons School of Design- We have discussed many different condo options near NYU (New York University) and Condos near the Juilliard School, in this blog, we will discuss condos near Parsons School of Design.

Parson’s is located at 66 Fifth Ave, right in the hear of the Greenwich Village neighborhood in Manhattan. If you are looking for housing near Parson’s School of Design or condos near Parson’s School of Design then you will have many options.

Parson’s School of Design is going to share many of the same condominium housing options that NYU students are also looking for.  Condos near NYU and Condos near Parson’s are typically going to be some of the same buildings.  Parson’s is within walking distance to a number of different neighborhoods, first the Greenwich Village neighborhood, along with Union Square, Chelsea and the Flatiron District.  This crossroads will provide a variety of condominium for sale options near Parson’s.

If you are looking to buy an apartment while you attend Parson’s, a condominium will be your best option. Condominiums provide a flexibile method to purchase with the minimum amount of rules if you want to turn the apartment into a potential investment unt.  Condos near Parson’s will include One Irving Place, commonly known as Zeckendorf Towers.  If you are looking for a pre-war condo near Parson’s, you have a number of very fine options including 25 Fifth Avenue, 59 West 12th St, 299 West 12th Street, and even 2 Cornelia Street.

Or if you are looking for a new construction condominium near Parson’s, look at availabilities at Gramercy Starck-340 E 23rd Street over in the Gramercy neighborhood, 16 W 19th St-Jade NYC, or 122 Greenwich Avenue.

If you are interested in newly constructed buildings, there are a number of new construction projects available in the surrounding neighborhoods. The availability always changes and updates daily, so contact us at (917) 837-8869 and we can provide you with the most up to date information.

Apartments near Parson’s will give you many options, whether you are looking to rent or to buy. The question is how to figure out what is a fair market price and how to efficiently go about the purchase process as quickly and effortlessly as possible is where we will be able to help you.  If you are interested in renting or buying a condo or apartment near Parson’s School of Design, contact us at (917) 837-8869.

Before buying in New York city Cooperative Must Know

Before buying in New York city Cooperative Must Know

Whether you are international foreigner or United States citizens, before considering in buying in a co-op, here are few items one should consider in buying in a coop.

Buyers or Investors to buy an apartment in a co-op building are not easy for several reasons:

  1. Co-op purchaser approval takes weeks — if not months — and is a rigorous and notoriously difficult process. The majority of co-ops only approve buyers with New York employment, US income tax and excellent credit history in the US. The law does not require a co-op to provide an explanation for a potential buyer’s rejection.
  2. There are often restrictions on how much financing a buyer can use (for example, no more than a certain percentage of the unit price).
  3. Almost all co-ops restrict the right to sublet your apartment, which makes it unattractive to investors and many buyers. Usually, co-op apartments cannot be rented out at all or can be rented out for one or two years after a certain number of years of owner occupancy.
  4. Co-ops regulate your use of the apartment in many other ways, including having guests or performing renovations.
  5. When selling (or renting it out when allowed) a co-op, the next buyer or perspective tenant will be subject to co-op approval AND interview as well, which reduces the number of qualified buyers and therefore reduces the price of your investment.
  6. There are often additional “flip taxes” on the resale of a co-op to discourage speculators.
  7. Regardless if this is an ALL CASH or FINANCED purchase, full financial disclosure is required. This means perspective purchaser will have to provide tax returns, pay stubs, bank statements and other supporting documents to verify the assets and meet the requirement of the coop.
  8. Every co-op is different in regards to if they will allow the apartment to be used as a part time residence(pied a terre), allowing a parent to buy the apartment with or for their own child, allowing a guarantor or co-purchase structure to buy the apartment.

Co-op buildings are governed by Co-op Boards where there is a Board of Directors reviewing, evaluating and discussing each decision made by the co-op. These decisions range from coop policy, budget expenses, future renovation/repairs, surround neighborhood concerns, maintenance fee projection and approval of other shareholders’ sale or lease of the apartment just to name a few.

With all that being said, some of the most prestigious buildings in Manhattan New York are cooperatives with similiar of rules or format as mentioned above. Each cooperative building has its own house rules and policies, many buildings along Central Park on Central Park West and Fifth Avenue are cooperative buildings. If you are looking to live on one of these prestigious and desirable streets, you will more than likely be looking at cooperative residences for sale.  There will be a few condominium buildings along Central Park West, Fifth Avenue, Park Avenue, but the supply is very limited.

If you are looking to buy an apartment in Manhattan New York and not sure where to start, I encourage to give us a call today at 917 837 8869 to strategically plan your search.

Lincoln Square Upper West Side 1 Bedroom Condominium Market Report

Lincoln Square Upper West Side 1 Bedroom Condominium market
The Lincoln Square neighborhood surrounding the famous arts and entertainment center that is Lincoln Center is home to a number of very desirable condominium buildings.
The One (1) Bedroom Condo Market in the Lincoln Square area of the Upper West Side is very sought after and has a very small amount of supply of condos for sale.
The Lincoln Square area is approximately described as from 59th Street to 72nd St and from Central Park to the Hudson River.
In total there are approximately 85 One Bedroom Condos for sale in the Lincoln Square area of the Upper West Side. However if we put our Western Boundary at West End Avenue and exclude the Trump and Extell Buildings on Riverside Blvd, the amount of inventory decreases extremely significantly to 36 One Bedroom Condos for sale in the Lincoln Square Upper West Side.

The One Bedroom Condo in Lincoln Square Upper West Side for sale price range is significant, it starts around $600,000 and goes up to approximately $1,350,000.

A breakdown of the price range for 1 Bedroom Condos for sale in Lincoln Square Upper West Side is:

$550,000-$700,000: Only 2 Condos currently available.  This segment of the market, condos priced in the $600,000 to $700,000 price point is where you consistently see apartments only stay on the market for a very short time.  Certain buildings in the Lincoln Center neighborhood have 1 bed condos for sale periodically, most typically Dorchester Towers at 155 West 68th St.  Dorchester Towers is a full-time doorman condo building that has 1 bed condos in the $600,000-700,000 price range, and they sell very quickly. The size will be anywhere from 575 sq ft to maybe 700 sq ft, do not expect a new renovation in this price range.

$700,000-$1,000,000: The majority of the 1 bedroom condos for sale in Lincoln Square Upper West are in this price range, approximately 24 Lincoln Center One Bedroom Condos are currently for sale.  You will see a variety of types of buildings in this price range.  You will find new construction or recently built condos like 10 West End Avenue or 555 West 59th Street.  You will find some of the more established full time doorman condos like The Coronada at 155 W 70th St or One Lincoln Plaza at 20 West 64th St.  The larger one bedroom Lincoln center for sale condos will be in this range, approximately from 700 to 900 sq ft.  Condition will vary, some very nice and renovated others not so much but the trade off may be a higher floor or larger space.

$1,000,000+ : About 10 Condos are currently for sale in the $1,000,000+ price range in the Lincoln Square Upper West Side condo market.  Above a million dollars you will be looking at condos typically concentrated in a few buildings such as 1965 Broadway-The Grand Millennium, 101 West 67th St and 111 West 67th Street – The Millennium Tower or Park Millennium, 160 West 66th St, 2000 Broadway-The Copley and 150 Columbus, 200 West End Avenue, to name a few.  In this price point you will typically be in these more luxurious buildings, often with 800+ sq ft, views, and some apartments will be renovated.

Overall, the 1 bedroom condo for sale in Lincoln Square Upper West Side is a very desirable market.  A variety of buyer’s seek these apartments out, some for end use, others for pied a terre residences and as investment properties.  The location near Central and Riverside Parks, along with the transportation and subway lines, combined with the residential ambiance the neighborhood posses make it a very desirable location.

If you are interested in buying, selling or renting a One Bedroom Condo in the Lincoln Square Upper West Side area, contact us today, at (917) 837-8869.