Great transit and three blocks from the Brooklyn Bridge Park. The commercial floors have 16 ft. ceilings and wonderful light @ approx. 3600 sq ft. Building is 25′ x 80’ft. on a 100ft lot. New plumbing, electric and mechanicals – all have been upgraded. This is a great opportunity to create a business in one of the most desirable and connected areas of Brooklyn.
NEW YORK (Reuters) – U.S. borrowers filed the fewest applications to buy a home and to refinance one in nearly four years last week as some 30-year mortgage rates increased to their highest levels in about 8-1/2 years, the Mortgage Bankers Association said on Wednesday.
The Washington-based industry group’s seasonally adjusted gauge on mortgage requests, which is seen as a proxy on future housing activity, fell 4.0 percent to 316.2 in the week ended Nov. 2. This was the weakest reading since December 2014.
Home borrowing costs rose last week in step with higher bond yields due to upbeat payrolls data last month which showed wages recording their largest annual gain in 9-1/2 years.
“Rates increased slightly last week, as various job market indicators showed a bounce back in job gains and an acceleration in wage growth in October,” said Joel Kan, MBA’s associate vice president of economic and industry forecasts, in a statement.
GRAPHIC: U.S. mortgages activity interactive – https://tmsnrt.rs/2PeEslD
Interest rates on 30-year conforming mortgages, whose balances are $453,100 or less, on average rose to 5.15 percent, the highest since April 2010. Last week, they averaged 5.11 percent.
Other 30-year mortgage rates were up 3 basis points to 7 basis points last week.
Rising rates, together with tight housing inventories, have hurt loan demand to buy a home.
“It’s evident that housing inventory shortages continue to impact prospective homebuyers this fall,” Kan said.
MBA’s seasonally adjusted gauge on purchase mortgages fell 5 percent to 213.6, the lowest in two years.
The group’s seasonally adjusted measure on mortgage refinancing activity decreased 2.5 percent last week to 861.8. It held above a near 18-year low of 838.1 reached a month ago.
The share of refinancing as a part of total applications shrank to 39.1 percent from 39.4 percent the week before.
(Reporting by Richard Leong; Editing by Chizu Nomiyama and Susan Thomas)
Location, views and amenities make for an enviable living experience, and Quay Tower — the newest property in Brooklyn Bridge Park, with 126 residences and an expected opening date of summer 2019 — has all three of these features in abundance.
First, the 30-floor tower, designed by architect Eran Chen of ODA New York, couldn’t be any closer to the Brooklyn Heights waterfront: Located at 50 Bridge Park Drive, it has commanding views of the city and New York Harbor.
Buying in Brooklyn can seem a challenge almost as complex as the borough itself is diverse: Whether first-time buyers or present homeowners, looking for a condo, co-op or house can be baffling in the face of the range of neighborhoods, price points and available properties.
“Buying in Brooklyn” is a multifaceted panel discussion developed to answer some of the most pertinent questions home hunters have about buying in one of the country’s most desirable urban communities.
Stribling brokers Dena Driver, Jackie Gill and Julie Greenspon will be joined by First Family Funding mortgage broker Melissa L. Cohn and financial planner Gina Stormont from Stormont Financial Planning Group for an informative and informal evening of questions and answers.
The panel will touch on issues such as affordability, the process and related steps necessary in buying a home, the definition of a buyer’s broker, potential challenges posed by new tax laws and how to address them, and the ins and outs of making an offer. Snacks and drinks will be served throughout the evening.
Image provided by Brownstoner
The event takes place from 5:30 to 7:30 p.m. on Thursday, October 25 at the Stribling offices at 386 Atlantic Avenue in Brooklyn. Brownstoner is a media sponsor.
Tickets are $10, and the event is free to the first 50 people to register. Please register with your full name and e-mail address. To reserve your place, go here.
Can’t make it October 25? Email the panel team at BuyinginBrooklyn@stribling.com to set up a one-on-one meeting.
The highly anticipated 111 W. 57th St. condo, on Billionaire’s Row, launched sales last week, with prices from $18 million to over $57 million. It ends a rocky few years for the under-construction luxury project, including lawsuits accusing developers JDS and Property Markets Group (PMG) of diluting the stake of an equity partner, and infighting that disrupted a previous sales effort. At a launch event, developers distanced the tower, which has made headlines for its slender silhouette, from the drama.
JDS, PMG and Spruce Capital Partners — along with SHoP Architects and William Sofield’s Studio Sofield — at last presented a model of the 1,428-foot tower rising above landmarked Steinway Hall. There will be 46 full-floor and duplex homes; interiors feature great rooms with 14-foot ceilings, marbled bathrooms and floor-to-ceiling windows. Building amenities include a lap pool with cabanas, a private dining room and a triple-height gym.
Contact: Douglas Elliman Development Marketing, 212-935-5757
Renowned architecture firm Beyer Blinder Belle, known for restoring classic NYC landmarks, has applied its craft to a new condo next to the historic Park Avenue Christian Church with 11 full-floor and duplex residences. Extell is behind the development, expected to launch sales later this fall, with prices starting at $12.95 million and a penthouse duplex promising a whopping price tag.
Lavish amenities include a 50-foot indoor pool, a fitness center with a teak sauna and changing rooms, a screening room and a circus-themed children’s playroom.
Rockaway Beach — a longstanding community that has become a popular summer day trip — is getting new condos. The 86-unit ground-up project at 133 Beach 116th St. kicked off sales with prices from $350,000 for one-beds and from $630,000 for two-beds.
Developed by the Marcal Group and designed by Fischer+Makooi, One Sixteen has white oak floors and stainless-steel appliances.
The quiet Brooklyn neighborhood of Kensington, a narrow swath south of Prospect Park and Green-Wood Cemetery between Ditmas Park and Borough Park, is getting a new arrival in the form of 264 Webster, a 63-unit condo. The brick-and-glass building, developed by Horizon Group and designed by Kutnicki Bernstein Architects, is the largest for-sale residential project to open in the neighborhood in several years. Interiors of the studios, one-, two- and three-bedrooms were handled by Brittany Marom Interior Design, though details on finishes have yet to be released.
When sales launch in October, expect pricing to range from $325,000 to $920,000. An amenities suite will include a part-time attended lobby, a library, a residents’ lounge, a playroom, a gym, a pet spa, parking, storage and a roof deck where residents can both grill and hang out.
Contact: Halstead Property Development Marketing, 718-878-1782
The arrival of new development in the Bronx continues with Bridgeline, a 91-unit rental building from JCAL Development Group. Studio, one- and two-bedroom units will be priced between $1,694 and $3,138 a month. Leasing is expected to launch later this month for the project at 329 E. 132nd St. in Mott Haven, a waterfront enclave with a mix of industrial and residential properties that’s been increasingly eyed for ground-up projects. Unlike other additions to the area, this one won’t include an affordable housing component.
Bridgeline will tout a 24/7 attended lobby, a furnished roof deck with city views, a residents’ lounge, a fitness center, outdoor parking and bike storage. Apartments, designed by Aufgang Architects, feature airy interiors with floor-to-ceiling windows, plus in-unit washers and dryers.
Contact: Citi Habitats New Developments, 212-685-7777
Flushing’s mixed-use Tangram development — which will include a 207-key hotel, a food hall, a beer garden and offices — is finally coming together. Now, the 13-story, 130-plus-unit condo Tangram House West is prepping for a late-fall sales launch. Half of the homes will have views of the city skyline, while the other half will face east with views of the development’s courtyard. All will have in-unit washer/dryers. (Pricing isn’t yet available.)
Building amenities include valet parking, a 24-hour doorman and concierge, a 60-foot indoor lap pool, an outdoor tennis court and a 3,800-square-foot pavilion with lounge space.
This 1908 landmarked private school on the Upper West Side is soon to begin its next life as a luxurious 13-unit condo. Developer and architect Tamarkin Co. finagled the building’s unique interior into spacious apartments with some quirks: There’s a unit called The Library, born from the school’s actual library.
Ceiling heights are so impressive that Tamarkin custom-designed library ladders for the kitchens to enable residents to reach the top cabinets.
The 13 residences range from three to five bedrooms, with no more than two apartments per floor. The sales launch is expected for later this month, with prices starting at $7.9 million. As for amenities, they’re on par with any classic Upper West Side residential building: a 24-hour doorman, a fitness center, a rec room, a stroller valet, private individual storage rooms, and additional cold storage and bike storage.
Contact: Sotheby’s International Realty and Stribling & Associates, 212-316-0555
ML House
Evolution Ventures
Want a rental apartment on a park block without schlepping uptown? The fall-launching ML House at 1050 Sixth Ave. is the only new luxury rental building to rise overlooking Bryant Park.
Skyline Developers is joining forces with architect Gene Kaufman for the 62-unit project, which ranges from studios to two-bedrooms. Pricing will start at roughly $3,500 monthly for a studio.
ML also has an indoor lounge, a fitness studio and an outdoor terrace.
Contact: Citi Habitats New Developments, 646-484-7808
Developed by Hudson Companies, this tower is about to debut on the site of the old Brooklyn Heights Brooklyn Public Library branch. Its 36 stories hold 133 condos — from one-beds up through five-bedroom penthouses — with prices starting at $1.08 million.
Marvel Architects designed the limestone facade inspired by area brownstone neighborhoods.
StudioDB designed apartment interiors with white oak flooring and large windows.
A retail space will feature rotating food vendors curated by Smorgasburg. One Clinton will also, of course, house a state-of-the-art library branch.
In the typical New York way, a long-standing icon is being replaced by a condo. The Financial District’s popular J&R Music World, which closed in 2014 after decades in business, is giving way to the 110-unit 25 Park Row. L+M Development Partners, along with J&R owners Joe and Rachelle Friedman, teamed up for this project, which ranges from one- to five-bedrooms.
It launches sales this fall, and pricing begins at an estimated $1.65 million. Every home has views overlooking City Hall Park. Amenities include a 65-foot swimming pool, a landscaped dining terrace and on-site parking.
Fall is bursting with events for everyone—culture buffs, sports fans, foodies, families, music lovers and those who simply can’t wait for the holiday season. Enjoy the return of annual favorites like the BAM Next Wave Festival, the Met Opera’s newest season, the Food Network NYC Wine & Food Festival and the Village Halloween Parade. Later in the season, take in holiday celebrations like the Holiday Train Show at the New York Botanical Garden, The Nutcracker performed by the New York City Ballet and the lighting of the Rockefeller Center Christmas tree. Must-see exhibitions this season include an Andy Warhol retrospective at the Whitney, a look at the magic of Harry Potter by the New-York Historical Society and Pink: The History of a Punk, Pretty, Powerful Color at the Museum of FIT. For details on these and many other happenings, read on.
Designer’s two family townhouse on a prime tree lined block in Boerum Hill. This 22′ wide brick townhouse has a four bedroom, two bath owners triplex with deck and a back yard, over a one bedroom, one bath garden rental with private patio.
Pass through mahogany doors into the large living room area with high ceilings and Czech black marble working fireplace, one of four charming mantels in this stately brownstone. Original wide plank pine flooring throughout this unique and well maintained home. A beautiful archway frames the chef’s kitchen, featured on the Food Network. Pennsylvania Black Slate large tile floors meet custom oak cabinetry atop Fireslate countertops from Maine. A Jenn Air down draft gas range and stainless steel appliances complete the open kitchen layout. The dining room leads to a private deck overlooking the beautifully landscaped back yard and bluestone patio. A sky lit contemporary master suite crowns the top floor and provides a private living room with red oak floors, custom walk in closets, built in bookshelves, storage and radiator covers. The state-of-the-art master bath includes a 3Form double shower with Ipe wood column, Toto toilet, Grohe fixtures and contemporary cement and granite counter tops. A large laundry room has dedicated plumbing and drain, full size washer and dryer along with further storage. A roof deck finishes this impressive top floor suite.
The one bedroom, one bath rental with private patio is newly renovated and currently provides solid income. This rental has an original open hearth, washer dryer and dishwasher as well as a lovely private patio and basement storage. Additional FAR provides the opportunity to build up or farther back onto the lot as this block is not land marked. The house offers an expansive living space in one of the most vibrant areas of Brooklyn. Only blocks away from great shopping like Whole Foods, Apple and Barney’s as well as wonderful restaurants like Rucola and Grand Army. Near every imaginable subway line, LIRR, BAM and Barclays Center too.
Taking care of your home isn’t just another item on the to-do list. It’s a way to protect your financial investment — one that will hopefully result in a bigger ROI when you decide to sell.
Although you might not have a yard or tons of square footage, your home can still benefit from some regular maintenance. Things like carefully chosen upgrades, thoughtful painting decisions and creating smart ownership habits will all help keep your home in top shape. These tips can help:
Prevent problems. By acting ahead of time, you’ll hopefully avoid annoying and costly repairs. Some proactive measures you can take right now? Make sure you have pest services scheduled regularly. And keep an eye on your appliances. Outdated appliances are more likely to break and aren’t very energy-efficient.
Get smart. Smart home technology doesn’t just add convenience to your home, but many times, it also reduces your energy and utility costs as well. This means savings for you — and a more marketable home years down the road.
Maintain appearance. Don’t underestimate the importance of cleanliness and a welcoming vibe, especially in small spaces. A fresh coat of paint and regular decluttering will help make your day-to-day life and a future sale easier.
Check seals. Windows can shift and loosen in their frames over the years, and that means lost air conditioning and higher energy bills. Have your windows inspected annually, and make sure any weatherstripping and caulking is in good condition.
Consistent upkeep means big problems are less likely, and it usually pays off when it comes time to sell. Want more advice on caring for your home? Get in touch today.
Relying on price trends is the same flawed logic used during the housing bubble. Pick any market back then. Housing sales fell sharply eventually leading to a sharp drop in prices. Peak prices nationwide were seen in 2006 while peak sales were achieved a year earlier. I continue to be amazed at how this continues to be missed in economic circles.
Think of a seller anchored to a ridiculously high list price. It takes them 1-2 years to de-anchor and not feel like they haven’t left money on the table. What happens when a housing market is exposed to a federal new tax law overnight? The sellers continue to demand their price and a rising number of buyers opt not to pay it. In other words, sales decline first. This is exactly what is happening in high tax, high-cost states right now.
And it is true, the new federal tax law likely won’t have any real impact in 80% of U.S. markets because of their much lower housing prices, mortgage amounts. property taxes and SALT. The doubling of standard deductions made it irrelevant. But let’s not proclaim the same goes for the entire U.S. when without too much effort you can see the slowdown in real-time in high-cost markets. This article treated the national housing market as, well, a single market. The new federal tax law, as far as housing goes, was designed to have the most impact on high-cost housing markets such as those found on the west coast and the northeast and the reform aspect centered on reducing the amount of itemization.
We are seeing slowing sales in the northeast and west coast right now, 9 months after the law became effective. Price trends are not a reliable basis for the premise being suggested in this piece. Here’s how it goes:
external impact (tax law)
sales decline (yes)
inventory rises (happening now in the U.S. including NE and West)
prices slip (next)
In other words, 9 months is way too early to be calling for no impact. We can see it happening in NYC right now.
New lighting is one of the easiest ways to update your interior design FLOS has some inspiring lighting designs, But you can find similar light fixtures at discounted sites like Overstock.com to help keep to a budget
Living rooms tend to be the biggest spaces in the home, and as such need the most diverse sources of lighting. Chandeliers, pendants, table lamps, and floor lamps all have their role to play in making them shine. See how top talents used FLOSlighting to craft beautiful living spaces and also how they made a smaller (but no less effective) design statement in chic studies.
Elias Associates devised a powerhouse living space that mixes the traditional and the hyper-modern, with FLOS’s 2097 Chandelier as the centerpiece.
