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Upper West Side Story: Architecture Critics, Condo Buyers Love UWS Luxury Condo The Laureate
We're pretty open here at New Construction Manhattan about our fondness for a number of Upper West Side condominiums. We're not alone in this, of course -- there's a reason why buildings such as the striking pre-war condo conversion The Apthorp, and new construction blockbusters such as The Aldyn and The Element are among the most-visited on New Construction Manhattan, and it's not because we blow them kisses here at the blog. We're pretty fond of The Laureate, a new construction condo on the Upper West Side that recently opened but, again, we're not necessarily the pickiest when it comes to this sort of thing. Still, it's nice when better-c redentialed individuals back up our opinions.
Leap Week: What Does That Huge Week In NYC Condo Sales Mean?
We follow the trends in the Manhattan real estate market pretty closely here at New Construction Manhattan, but there is such a thing as following them too closely. While is obviously helpful for those browsing Manhattan condo listings, it's not always possible to pick this stuff out cleanly. And being as we're down here in the mix and moment of the NYC condo market, it can be tough to find a broader perspective. So it is with some reservation, as well as some excitement, that we present the interesting but probably not terribly indicative of anything news that the first week of February was the strongest week for luxury condominium sales in Manhattan since the collapse of Lehman Brothers back in September of 2008; 31 deals were closed last week on Manhattan condos priced at $4 million or more. That collapse is generally regarded as a tipping point in the recession through which the economy is still struggling.
Apartments For One: What NYC Neighborhoods Are Best For Singles?
At a certain level, the question of which Manhattan neighborhood is best for singles is kind of a silly one. Silly because, New York being New York, just about every Manhattan neighborhood is a pretty good Manhattan neighborhood in which to be single. But, of course, there are degrees of goodness -- which means that singles hunting for their own NYC studios or one-bedroom apartments might do well to check out a new study from the New York Daily News that uses a simple formula to ascertain which Manhattan neighborhoods are best for solo NYC apartment-hunters. Besides, you know, all of them. "Factors that played an important role in ranking these neighborhoods are the numbers of restaurants, bars, nightclubs, health clubs, culture, the population of young people in the area, median age and crime figures," Jason Sheftell explains in the Daily News. "Education, family-oriented factors and price were not heavy factors, although affordability was considered."
New Mortgage Rules Promise "Financial Colonoscopy" For NYC Condo Buyers
Browsing Manhattan apartment listings is easy, but buying a Manhattan apartment is -- understandably, reasonably, and inevitably -- a much more complicated enterprise. There are many reasons for this, but the simplest and most obvious would be that, while it's free to browse NYC condos at New Construction Manhattan, it costs significantly more to actually buy an apartment in Manhattan.
Down Town: Home Prices On Decline In NYC... And Everywhere Else.
Many words might pop into a prospective home-buyer's head while browsing New Construction Manhattan's NYC condo listings, but the word "cheap" probably isn't one of them. There's a reason why Manhattan apartments have proven to be such a good investment, after all -- a limited supply (as discussed earlier at the NCM blog, ) and virtually unlimited demand has ensured that Manhattan apartments tend to hold their value very well. Of course, if you are approaching it from a buyer's perspective, it might seem more correct to say that Manhattan apartments tend to stay quite expensive. But while the Manhattan real estate market remains one of the most competitive and expensive real estate markets in the world -- and while New York City occasionally seems to be its own independent country -- the market for NYC condos is not immune from the effects of the broader U.S. economy. Which is all sort of a long way of saying that, while Manhattan apartment prices remain high, they are in fact notably lower than in years past. No, really.
Bump Ahead, Or Why Waiting To Buy A Manhattan Apartment Could Cost You Money
In the years since the economic collapse, we have seen a wide array of metaphors deployed to describe both what just happened and what lies ahead. Some were more felicitous than others and none quite did the trick, but when it comes to summing up the current situation in the market for Manhattan condominiums, "like turning around a battleship" isn't bad at all. This particular pundit-approved cliche is unusually apt when it comes to describing the Manhattan condominium market's . Given the extent of the slump in the Manhattan real estate market, this is to be expected -- and is even somewhat advantageous for those browsing Manhattan apartment listings, as condo prices are still relatively low, and price cuts still comparatively common. But a recent article in the New York Times serves as a sobering reminder of both how deep the real estate trough of the last few years actually was, and as a warning that -- once we finally get this battleship turned around -- there may still be some choppy seas ahead for those looking to buy a condo in Manhattan.
Go East: Lower Manhattan's East River Park Just About Finished
You live in an apartment in the Financial District. Or a condo on the Lower East Side. Or are browsing East Village condo listings. Congratulations: you have good taste, both in Manhattan neighborhoods and in NYC real estate listings sites. Let's continue. You're looking for a Manhattan apartment that offers more than, you know, an apartment and a fistful of amenities. You'd like some green space in your neighborhood. Check. You like to jog. Check. You play basketball, say, soccer. Check. You enjoy lounging, or fishing, just taking in some river views. Check, check, check please. There is a park near your apartment where you can do all these things. Check... almost. Yes, work on the East River Park is almost done.
Shovel Ready: Meet 20 Pine, The Weather-Proof Financial District Luxury Condo
With one mega-blizzard down and a few slightly less 'zardy snowfalls in both the past and immediate future (at least as this post goes live), it's fair to say that winter has arrived in New York City. New Yorkers know what this means -- it means frequent reiterations of "snowpocalypse"-grade weather hyperbole, and it means subway delays and wet socks, and slush and wet socks and all kinds of other fun stuff. There are some considerably more appealing things about snow in NYC, of course -- a walk on the quiet streets (in waterproof boots, naturally), that sort of thing -- but for the most part, New Yorkers' have one goal in mind when it comes to snow, and that goal is avoiding it. Which brings us to 20 Pine, which is unique among condo listings in the Financial District not just for being an especially artful renovated luxury condo, but for having a luxury that many New Yorkers will wish they had on snowy mornings to come -- private subway access.
Park Life: Is Long-Stalled One Madison Park On The Comeback Trail?
If you've waited in line at the Shake Shack in Madison Square Park, or even if you've just rambled around the greater Gramercy Park area, you are familiar with One Madison Park. One Madison Park being the striking, super-luxurious and surpassingly star-crossed high-end luxury condo standing at the south edge of Madison Square Park. We've written in the past here at the New Construction Manhattan blog about , but there hasn't been much news -- good or bad -- of late to report about this particular new construction luxury condominium. Which is a shame, because One Madison Park remains one of the most intriguing new construction apartment listings in Manhattan -- an architecturally stunning building with an elite Manhattan location, what promised to be stunning apartments for sale, and an elite suite of amenities.