Monthly Archives: May 2013

Greenwich Village Apartments For Sale:The Complete Guide to Pre-War Condominiums

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Prewar Condominiums in Greenwich Village are some of the most desirable types of apartments in all of Manhattan.  One of the main reasons is that because there are so few of them and they are obviously not making any more of them.  The only way more prewar condominiums come to the market is if a prewar rental building gets converted to condominium, like what happened at the Devonshire House at 28 East 10th Street.EV_Greenwich

A number of reasons but most of our buyers who end up buying a prewar condominium in Greenwich Village are looking for certain apartment features that almost are only found in a prewar apartments.

Some of these prewar features include:

  • Working fireplaces
  • Ceiling Height-Typically 9′ feet or more, 10’+ in loft buildings
  • Detailed Woodwork including crown molding, base molding, picture rails, window wells, fireplace molding
  • Certain Layouts-Typically a more grand and spacious layout including entrance foyers, separate kitchens, larger bedrooms, dining rooms, etc
  • Thicker Walls and Floors-A lot harder to hear your neighbors
  • Building History-Some buildings come with a land marked status and/or prestige due to the developer or architect who was a part of the project, often with the prestige brings with certain design elements that are also very much desired.

Is a Prewar Condo more expensive than a postwar condominium?

I would say that with very little exception the answer is Yes.  In Greenwich Village, the percentage of condominiums to co-op buildings is very much weighted overwhelmingly towards more co-ops than condos.  Then when you look at the number of those condominiums that are prewar buildings the total number decreases even more.  So let’s say you want to be even more specific and  you want a prewar condominium in Greenwich Village that’s on lower Fifth Avenue, now you have a single building, 25 Fifth Avenue that matches your criteria.  Another popular search is for Emery Roth, a very famous prewar architect who designed both 59 West 12th Street and The Devonshire House at 28 East 10th Street.  Those two buildings consistently have some of the very most expensive prewar condominiums for sale in Greenwich Village and for good reason.GREENWICH_VILLAGE

Basically it comes down to supply and demand.  The demand far outweighs the supply for quality prewar condominiums in Greenwich Village so the pricing is a reflection of this unique segment of the market.

What is the pricing for a prewar Condominium in Greenwich Village?

  1. A Studio typically starts in the $850,000 range, but if it is a studio in a prewar loft like 114 East 13th Street or 125 East 12th Street the pricing starts at $1,150,000
  2. A One Bedroom typically ranges in the $1,500,000 to $2,000,000
  3. A Two bedroom typically starts at $1,600,000 for a smaller two bed/one bathroom upward of $4,000,000 for larger units
  4. A Three Bedroom usually starts in the $3,000,00o but can exceed easily exceed $5,000,000 depending on unique features and apartment size

Are you interested in buying a prewar condominium in Greenwich Village or interested in a free market analysis on selling your apartment, call us today at (917) 837-8869 or email Morgan(dot)Evans)(at)Elliman.com

For more information click here about Greenwich Village Apartments for Sale or Meatpacking District Apartments for Sale.

We pride ourselves on our expertise in the downtown Condominium market specifically Greenwich Village prewar condominiums, if you are interested in this segment of the market reach out to us today to discuss your individual needs.  We can be reached at (917) 837-8869.

 


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The American Felt Building Condominium at 114 East 13th Street New York City – Pre-War Condominium Lofts New York City

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The American Felt Building Condominium – 114 East 13th Street New York City –

Pre-War Condominium Lofts New York 

What is the American Felt Building Condominium Like?

The American Felt Condominium located at 114 East 13th Street is a very unique building.  It is one of the only pre-war full time doorman condominium loft buildings in downtown Manhattan and more specifically the Union Square/East Village neighborhood.
AmericanFeltCondominium_114East13thStreet-225x300Located on 13th Street between Fourth and Third Avenues, you are literally sitting at the crossroads of the Union Square, East Village and Greenwich Village neighborhoods.  A convenient and attractive location for so many reasons.

Originally built in 1909, the building was home to the American Felt Company which was the primary producer of the felt used for the world famous Steinway Piano Company.   Converted into condominiums in the early 1980’s, this was one of the very first condominium buildings to be converted in the gentrification of the Union Square neighborhood.  At the time, the neighborhood was considered “up and coming” and had a reputation as a more raw area, but buildings like the American Felt Building and other condominiums such as 115 Fourth Avenue the Petersfield, the Zachary at 125 East 12th Street and the neighborhood defining Zeckendorf Towers at 1 Irving Place established the neighborhood and started to turn it into what it is today.  These Union Square condominium buildings are now some of the most desirable and respected buildings in downtown Manhattan.

Making the American Felt Building so desirable are the apartments themselves, taking advantage of it’s factory heritage, ceilings are tall, typically 11-12 feet high, expansive windows bring in tremendous light, layouts are open, and apartment sizes are generous.  Some of the higher floor apartments will have wood burning fireplaces, double exposures, balconies and open views of the East Village and Greenwich Village neighborhoods.  These features are extremely unique and the major reasons why there is so much desirability when an apartment comes for sale at the American Felt Building Condominium.

The building itself has a full time doorman, a roof deck, storage and is both pet friendly and investor or pied a terre friendly making the building a very flexible type of purchase. There are approximately 40 apartments in the building, spread out over 12 floors, most floors only have 4 apartments per floor.

What is the neighborhood like?

Located Between Fourth Avenue and Third Avenue on 13th Street, the American Felt Condominium Building is located in the East Village, but within immediate distance to Union Square, Greenwich Village, and NYU.  The location is a crossroads of what makes downtown Manhattan so desirable, the combination of neighborhood amenities including dining, shopping and transportation all at your fingertips.

Being within immediate proximity to the East Village, Union Square and Greenwich Village, you have the best of all worlds.  The Farmer’s market located at Union Square, the restaurants and energy of the East Village, the ambiance and historic charm of Greenwich Village, you get to take your pick of any of the attributes that makes all of these neighborhoods stand out as some of Manhattan’s best places to live.

What are the apartments like at the American Felt Condominium at 114 East 13th Street?

One of the most unique pre-war condominium buildings in the East Village and Union Square neighborhoods, almost no where else can you find the combination of loft characteristics that you will have at the American Felt Building.

When you first walk into any of the apartments you will notice the tall ceilings, typically 11-12 feet depending on the floor.  Then you will notice the spacious layouts with very little columns or obstructions.  This combination of tall ceilings and open layouts creates a volume of space that is extremely unique for a Manhattan apartment.  What I consider over-sized windows bringing in maximum amount of light into the apartments is another wonderful feature.  Depending on the exposure some apartments will have outdoor balcony’s, double exposures and fireplaces.  When adding these features to an already impressive base you now have a truly unique apartment.  Apartment condition and layout varies throughout the building because this is a condominium each owner has had the opportunity to renovate.  You will find some apartments customized to the personal tastes and decor of their owners, so often no two apartments are the same.

Most apartments I have seen are usually studio or 1 bedroom layouts, some larger apartments do exist but do not come on the market often.

Why Buy an Apartment at the American Felt Building Condominium?

If you are looking for a condominium loft with a full time doorman in the Union Square, East Village or Greenwich Village  neighborhoods then this will be one of the only buildings that fits the bill.  If you are looking for an apartment with features that match what is available at the American Felt Building including fireplaces, outdoor space, 11-12 foot tall ceilings, open layouts than you will be drawn to buying here.  The combination of location and the type of apartments at the American Felt Building really is unique and the demand always outweighs the supply for these apartments.

What do apartments sell for at the American Felt Building at 114 East 13th Street?

The standard layout at the American Felt Building in 2012 and 2013 has been selling for in the range of $1,195,000 to $1,390,000.  The more unique layouts with outdoor space, double exposures, found on higher floors can easily exceed this range.  Because the layouts are so unique at 114 East 13th Street, pricing apartments effectively will require looking at the many characteristics of each apartment and coming up a valuation that factors in specific renovations, layouts and unique apartment attributes.

Are you ready to buy or sell an apartment at the American Felt Building?

If you are give us a call at (917) 837-8869 to discuss availability and pricing.

If you are interested in watching a video I filmed outside the American Felt Building click below:

If you are interested in buying or selling an apartment at the American Felt Building please call us today at (917) 837-8869 or email at Morgan.Evans(at) Elliman.com

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The Village Pointe Condominium Meatpacking District Apartments for Sale New York City

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The Village Pointe Condominium in the Meatpacking District Neighborhood Apartments for Sale Market Report May 2013 

Lobby at the Village Pointe at 350 West 14th StreetWhat is the building like?

The Village Pointe is a boutique condominium located in the Meatpacking District Neighborhood in New York City.  At just about 50 residential units, located at 350 West 14th Street, the building has no-doorman, has an elevator live-in super and laundry facilities in the basement. The building is mainly made up of studio’s and one bedroom apartments with a few larger combination units and duplex apartments with outdoor terraces on the top floor. Some of the southern facing units on the 5th, 6th, 7th, floors have outdoor balconies which is a very unique feature.  Converted into condominiums in the late 1980s the Village Pointe Condominium at 350 West 14th Street is without a doubt one of the most well established condominiums in the Meatpacking District Neighborhood of New York City.

What is the neighborhood like?

The Village Pointe is located at the corner of Ninth Avenue and 14th Street, essentially right where the Meatpacking District begins.  This corner is a gateway to everything you expect out of the Meatpacking District; restaurants with outdoor seating, cafes, cobblestone streets, the famous boutique shopping in the old Meatpacking warehouses, historic architecture, all mixed up with an energy and ambiance that has made the Meatpacking District famous.

For a list of all of the Meatpacking District Condominium Buildings in the Neighborhood

What is there to do in the neighborhood?

This is a neighborhood with so many different shopping, attractions, restaurants, nightlife all at your disposal.  A couple of the main attractions have to be the High Line Park and the Chelsea Market.  Shopping in the Meatpacking District is a very popular choice with so many boutiques located in the neighborhood.  Nightlife is a major draw at any of the hotels located in the neighborhood. The Whitney Museum is building a new facility within the Meatpacking District with an expected arrival in 2015.

Meatpacking District Neighborhood New York City

What kind of transportation is available?

You have many options if you live at the Village Point Condominium.  Multiple subways are a few minutes away including on Eighth Avenue the A,C,E, and L subway lines.  On Seventh Avenue and 14th Street you have the 1,2,3 subway lines.  There are a number of cross-town buses that run along 14th Street.  In a nutshell, you have many options closely available to you as a resident at the Village Pointe Condominium.

What are the apartments like at the Village Pointe?

You mainly have studio and one bedroom layouts of differing sizes and layouts.

  • The studio line ranges in size from 470 to 520 sq ft.
  • One Bedrooms range in size from 538 square feet up to 693 square feet- An example of the Layout
  • The duplex residents area all unique, inquire for exact layouts and sizes

Insider Tip-Floors 5-7, the A,B,C lines all have balcony’s.

Why Buy An Apartment at the Village Pointe Condominium?

If you want to live in the Meatpacking District Neighborhood the Village Pointe Condominium offers the least expensive entry point into that marketplace.  The average price per square foot typically starts at $1400 in the Meatpacking District, studio’s and one bedrooms are typically priced well over a million dollars, however at the Village Pointe they come in considerably lower.  Layouts are extremely efficient, no wasted space, common charge and taxes are very low(an always attractive feature), you can’t beat the location if you are looking for a Meatpacking District location.

What do apartments sell for at the Village Pointe Condominium?

  • Studio’s: No Studio’s have come available for sale in 2013, my estimate is to expect pricing to be in the $600,000+ range depending on condition and view
  • One Bedroom’s: One Bedrooms will sell for between $775,000 to $950,000 depending on size, view, outdoor space and condition.
  • Duplex: Duplex apartments in the building have sold well over $1,000,000, for the right condition you could see a duplex apartment in the building sell for well over $1,250,000

Are you ready to buy or sell an apartment at Village Pointe Condominium?

If you are give us a call at (917) 837-8869 to discuss availability and pricing.

If you are interested in more information about Meatpacking District Condos for sale check out these other blogs about the neighborhood.

  1. Meatpacking District Neighborhood Profile
  2. Meatpacking District Condominiums for Sale
  3. Meatpacking District Apartments for Sale – What does $500,000 Buy Me?


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Chinese Mandarin Speaking Real Estate broker EILEEN HSU help Parents buy for Children

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Chinese Mandarin Speaking Real Estate brokers help Parents buy for Children

 
We are a team of Bilingual Mandarin Chinese Real Estate brokers in Manhattan New York help parents buy condos adult children who go to school or work here. 

Chinese Speaking Real Estate Broker EILEEN HSU with her mother

Chinese Speaking Real Estate Broker EILEEN HSU with her mother

Our Chinese buyers are from both United States and international countries such as Taiwan, China, Hong Kong, Singapore, Malaysia, Indonesia and Canada, their main reason of buying is because their young adult children work in Manhattan New York or go to University in New York and instead of renting, culturally we believe it is better to own than pay rent.
 
As Chinese Real Estate brokers specialize in Parents buying NYC condos for Children, we facilitate the home search in many aspects, we bridge the culture difference by being Asian Americans ourselves and understand many fundamental of Asian beliefs and house hunting basic requirements, we help parents understand the complexity of Manhattan Real Estate market place by providing a comprehensive overview and basic market knowledge.  
 
Direct and clear communication is essential when working as Mandarin Chinese Real Estate brokers with Chinese buyers. Once we understand what our buyers parents buy condo for children are looking for, we will make our recommendation and suggestions based on their criteria. We will recommend the type of housing product, neighborhood, buildings that will work best for their needs, and connect them with trusted advisers such as accountants, lawyers, financial planners and etc to ensure their purchase is well and sound.
 
If you are a parent looking to buy condo in NYC and would like to work with a team of successful Mandarin Chinese speaking brokers in New York city, contact us today by email or call (646)644-6929 and we will reply to you promptly. 

Greenwich Village Apartments for Sale – One Bedroom and Studio Condominiums Spring 2013 Report

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Greenwich Village Apartments for Sale – Studio and One Bedroom Condos May 2013

Are you looking  for a Studio or One bedroom Greenwich Village Apartment for Sale? Let us help you by answering these three main questions.WashingtonSq

  1. What is currently for sale in the market?
  2. What have these types of apartments been selling for?
  3. How do I go about buying one?

First I’d like to date stamp this discussion as we’ve discussed this topic before and as everybody knows real estate is all about having the most up-to-date information, currently we are in the May 2013 Spring Sales Market in New York City.

1. What is currently for sale in the Studio and One Bedroom Category in the Greenwich Village Neighborhood in New York City?

The Studio and One (1) Bedroom Condos for Sale in Greenwich Village is one of the most desired and fought over segments of the market.  it is like a perfect storm of factors creating mass demand with very little supply, including the proximity of New York University and other universities, few condominium buildings within the neighborhood and very few new construction projects adding inventory in the foreseeable future.  The outcome is that we consistently see bidding wars for the best studio’s and one bedroom condos to come available in Greenwich Village.

  • I see Eleven (11)different Greenwich Village Studio and One bedroom Condominiums for sale right now
  • Price ranges from $689.000 for an alcove studio at the Georgetown Plaza(A very good buy in my opinion) up to $2,295,000 for a One Bedroom at the Devonshire House
  • The lowest priced one bedroom is available at 44 East 12th Street asking $799,000(Another very well priced apartment)

   2. How much have Studio and One Bedroom Condos been Selling for in Greenwich Village?

  • I see 17 apartments currently in contract, price range of $610,000 for a studio at 184 Thompson Street up to $2,175,000 for a One Bedroom at the Devonshire House
  • Many of these apartments went into contract within less than 7 days of coming on the market
  • Since the beginning of 2013, I track approximately 20 closed sales in the Studio and One Bedroom category with an average price per square foot of over $140 sq ft.
  • Keep in mind that pricing depends a lot on the specific type of apartment.  If you are looking for a pre-war condominium the price point typically starts around $1500-$2000 sq ft, or if you want a new construction condominium expect $2000 sq/ft and up.
  • Take a look at an article we wrote back in 2010 about Greenwich Village Apartments for Sale and see how pricing has changed, the pricing was in the $1100-$1200 sq ft range back then. This is a very prime neighborhood and these are entry level apartments, with little supply coming on the market its a smart assumption to make that pricing will continue to increase.

3. Are you looking for a One Bedroom or Studio Condominium for Sale in Greenwich Village?

We have two main pieces of advice, first be open minded about pricing.  Condos for sale in Greenwich Village, the West Village and the East Village are going to be more expensive than something in other Manhattan neighborhoods.  We are typically asked why can I find a studio for $500,000 in Midtown West or the the Upper East Side but not in Greenwich Village? The answer is simple, it just doesn’t typically exist, the demand outweighs the supply and the pricing increases because of that relationship.

The second piece of advice is that once you are in the market and have seen some properties you have to move quickly.  Moving quickly means a number of things. Have your financing in place, have your cash ready, have an attorney ready to handle contracts, you will have to make an offer quickly and negotiate quickly.  If it comes down to a multiple offer situation, sellers obviously favor the highest price, but they also consider who is easy to work with.  Which buyer has the least amount of obstacles to close, meaning who doesn’t need financing, who has a Manhattan experienced attorney, who  comes across as easy to work with.

Are you ready to find out about what’s for sale in Greenwich Village, then give me a call to discuss what it is you are looking for. I can be reached at (917) 837-8869 . 

This is a segment of the market we specialize in and we know depending on your budget and goals what buildings will work best for you.  Often buyers looking for condos for sale in Greenwich Village will also look in the Meatpacking District or the West Village or in the Union Square neighborhood.

If you are looking for a Greenwich Village Apartments for Sale Studios and 1 Bedroom Condos and  would like to contact me, call me at (917) 837-8869 or email at morgan.evans (at) elliman.com
Copyright © by Morgan Evans 2013 **Greenwich Village Apartments for Sale – One Bedroom and Studio Condominium Spring 2013 Report**

All information is deemed reliable but is not guaranteed.

 

Meatpacking District Apartments for Sale – What Does $500,000 Buy Me?

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Are you looking for a Meatpacking District Apartment for Sale and have a budget of around $500,000?

First, I always find it important to time stamp this type of analysis as pricing and inventory is always changing.

This analysis is haMeatpacking District Apartments for Saleppening in May of 2013, a very robust and active sales market in New York City.

The Meatpacking District Neighborhood in New York City has established itself as a premium location in downtown Manhattan, its combination of historic charm, high end boutique shopping, restaurants and entertainment options have made it one of the most energetic neighborhoods. Apartments for Sale in the Meatpacking District have become a very hot commodity, and one of the reasons is that the supply of Meatpacking District apartments is always very low.  There are just not that many condominiums that would be described as being  near the Meatpacking District.If you have a budget of $500,000 what kind of apartment is for sale in the Meatpacking District?

If you are looking for  Condominium Sales in the Meatpacking District than the answer is that there is No Availability right now.  There is nothing on the apartment for sale right now if you are looking for a condominium for sale for less than $500,000.

The entry level for a condominium in the Meatpacking District usually is going to start around $600,000-$650,000 for a studio, if and when something does come on the market. We’ve been tracking sales for the Meatpacking District and usually only one or two of this size of apartment comes available every year.

One Bedrooms will vary in pricing depending on the building, for a non-doorman elevator doorman condominium like the Village Pointe Condominium at 350 West 14th Street, one bedrooms are selling in the $800,000 range.  In a full time doorman new condominium building like you’d find at 345 West 14th Street or 450 West 17th Street- The Caledonia, expect the pricing to be around $1.5 million.

So as you can see, when looking for Apartments for Sale in the Meatpacking District, the type of building is everything.

The Meatpacking District Neighborhood will continue to have a very limited supply of apartments for sale, it’s location between the West Village and West Chelsea Neighborhood has made it a prime location, so expect pricing to remain and exceed its current levels.

If you are looking for Meatpacking District Apartment for Sale, give us a call today and we can discuss what is currently on the market and what is the best way to purchase one of these apartments.

Call us today at (917) 837-8869 or email at Morgan.Evans(at) Elliman (dot) com


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Manhattan New York Meatpacking District Neighborhood Spotlight

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Manhattan New York Meatpacking District Neighborhood

The Meatpacking District Neighborhood in Manhattan New York is one of the most popular downtown locations. A historically designated and protected district, once home to the meatpacking industry in New York City, its heyday in the early 1900s has now transformed into a 24 hour destination.

Located in a small pocket between the West Village and the West Chelsea neighborhoods, running from Horatio/Gansevoort Streets on the South up to 16th Street to the north and from the Hudson River to Hudson Street/Ninth Avenue as its Western and Eastern borders. Not a huge neighborhood in total size, but what it may lack in size it packs a sizeable punch when it comes to the energy and ambiance when you step foot inside its borders.

HighlinePark_Entranc_MeatpackingDistrict

Walking through the Meatpacking District you will see its history all around you. Including the awnings and canopies from the original meatpacking district businesses, the uneven cobble stone streets, the mixture of manufacturing warehouses, and most notably arguable they anchor attraction of the Meatpacking District as to the High Line Park. What was once an elevated train track that was built to transport the meatpacking manufactured products to all over New York City had become a derelict and eyesore of the neighborhood was transformed and restored into a Must See attraction for this neighborhood. What is now an open elevated park that runs along the Western side of the neighborhood and stopping in the low 30s in West Chelsea. The High Line Park is beautiful, a unique way to see New York City as you are about two stories above the street and literally snake your way through buildings, underneath them at time, its a great place to spend your time when visiting the neighborhood. The High Line Park is major attraction, both visitors and neighbors will be found there everyday of the week.

The other must see attraction in my opinion has to be the Chelsea Market. Once home to the National Biscuit Company, the birthplace of the Oreo Cooke, the Fig Newton, Vanilla Wafer and even the Saltine. Now home to one of the most trafficked food courts and concourses in all of Manhattan. This converted manufacturing facility has retail and food shops on its main floor and offices and studio’s on the upper floors including the Food Network and all of its tv shows. The Chelsea Market is the perfect place to go to eat, buy a gift, or just sit down and relax after a long day on the High Line Park.

ChelseaMarket_Outside

The Meatpacking District Neighborhood has a double designation that protects its historical roots. It is still designated a manufacturing zone, making residential development extremely difficult to happen with its interior borders and it was designated a historic district, known as the Gansevoort Market Historic District, as established by the New York City Landmarks Preservation Commission. This combination makes any type of new development whether residential or commercial extremely difficult. Because of this most condominiums for sale in the Meatpacking District or actually located along the borders of the neighborhood or within a block or so within the designated section that is protected.

Another reason why the Meatpacking District has earned the reputation as a 24 hour neighborhood is because its home to a collection of hotels including the Standard Hotel along the High Line Park, the Gansevoort Hotel, the Soho House and the newest entry the Dream Hotel along the northern border of the neighborhood. All of these hotels are well established to have many nightlife options, restaurants and are extremely popular.

The Meatpacking District neighborhood is home to a collection of condominium buildings that are extremely desirable. Meatpacking District condominiums for sale is a segment of the downtown Manhattan real estate market that has exploded in popularity with its neighborhoods prominence. Just a handful of buildings exist that are typically referred to as being Meatpacking District Condominium buildings. There is a variety of buildings for all different types of purchases, whether it is a new construction apartment for sale in the Meatpacking District, or a Meatpacking District loft for sale, there is a little bit of variety.

If you are interested in apartments for sale near the Meatpacking District you can call us today at (917) 837-8869 for a complete list of condo buildings in the Meatpacking District.