Tag Archives: Apartment

NYC Real Estate – Murray Hill 2 bedrooms Co-op sale for $899,000

This elegant and modern mint condition two-bedroom two-bathroom apartment was formed through the

244 Madison Ave, #12DE

244 Madison Ave, #12DE

combination of two apartments, and was completely gut renovated with high quality materials, fixtures, and finishes throughout. Perfectly suited for great city living in a prime Murray Hill location in the heart of Manhattan, this bright and sunny high floor apartment features 12 foot ceilings, oversized windows, fully restored walls and ceilings (not a single nail hole!), solid hardwood floors, new moldings, neutral white and earth tone colors, and a top quality Lutron recessed lighting system with dimmers throughout the apartment. Valuable floor space is maximized thanks to two full-sized sleep lofts made to fit queen size mattresses and additional furniture. At the same time, there’s no need for any offsite storage here, as there’s also a tremendous amount of storage space for a Manhattan apartment – seven closets (including two extra large walk-ins!) and five massive built-in storage areas.

The extra large, open kitchen area is a chef’s delight and features a porcelain tile floor, new stainless steel appliances, granite countertops, recessed ceiling and under counter lighting with dimmers, a porcelain tile backsplash, and incredible counter space and cabinet space. The bar area features a second full size sink and a stainless steel wine refrigerator, which is great for entertaining. And tucked away in a built-in cabinet are a life-changing washer and dryer so that you’ll never have to leave your apartment to do laundry again!

There are also two luxurious, spa-like bathrooms – one is full marble with a whirlpool tub, and the other is full tumbled porcelain with a standard tub. Both have recessed lighting with dimmers, Grohe shower systems, beautiful swing-out glass shower doors, recessed medicine cabinets with built-in mirrors, and espresso wood vanities with marble countertops.

The spacious, flexible layout can suit a variety of living situations, from singles to couples to families with children to friends or siblings co-purchasing. A solid hardwood pocket door ensures total privacy between the living areas, and the alternate entrance is the perfect addition for people on different schedules or when guests are staying with you.

This lovely co-op building is perfectly located in the heart of Manhattan, and provides easy access to all of life’s needs, including shopping, dining, entertainment, transportation, and more. It’s fantastic midtown location will allow you to go anywhere in the city quickly and easily. If you work in midtown, it’s an easy walk to work, or if not, it’s just a short walk to Grand Central, Penn Station, and the major subway and bus lines. When you want to relax, it’s also in close proximity to Bryant Park, Madison Square Park, the main New York Public Library, and the Morgan Library. The building has a superb staff, including a full-time superintendent and a 24-hour doorman. Capping it all off is a beautiful new roof deck with incredible panoramic city views and an amazing view of the Empire State Building. There’s also free community Wi-Fi both in the lobby, laundry area and on the roof to help keep you connected while you unwind.

Other apartments with the same features and amenities cost hundreds of thousands of dollars more, but why spend that much for a great apartment? This beautifully renovated apartment is in fantastic condition, so there’s nothing for a new owner to do except move in and start enjoying life in their new home, without the worry and hassle of doing ANY renovation work. This is truly a rare find.

Guarantors, co-purchasers, gifts, parents buying for children, and pied-à-terres are all permitted. Unlimited subletting is permitted after two years. Sorry, no dogs. This apartment is also available furnished or partially furnished if desired. Buyer’s brokers welcome. Feel free to contact me for more information or to schedule a convenient showing.

The Co-op Apartment minimum down is 25%, monthly maintenance/cc is $1,857 (including tax). Tax deductible is 56%. It is 2 Bed and 2 Bath at price of $899,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or Robert at 244madisonavenueapt@gmail.com , we will email you more info. 

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NYC Real Estate – What is Pied-à-terre

Pied-à-terre is French for ‘foot of the ground ‘. It is a residence that you only use occasionally. It is usually an apartment located in a large city such as Manhattan some distance away from an individual’s primary residence. Generally the term pied-à-terre is understood to mean that the unit will not be your primary residence. You only live there part time of the year.

Some of the co-ops don’t like pied-à-terre residents live in the building. They are fear by neighbors that apartment become an inn for primary owner’s friends and family. Especial college age children of the owners may move in because of nearby University or college. Some co-ops, they don’t want to be considered a dormitory. Some co-ops may require primary owners to live in their apartment for at least a year or two before renting it.

Each co-op may have somewhat different rules. Generally co-op isn’t an investment property in that you’ll be renting it out. Some co-op may just be used by you & extended family for business & visits to the city. Usually co-op doesn’t want an empty building with units only used a few weeks every few months.

If a building does not allow pied-à-terre, ask your agent to inquire and provide you with a precise definition of what the particular building means by that rule since it is a subjective term that readily can be interpreted differently from one building to the next.

Condos have generally been the pied-à-terre locales of choice. Once you own a condo, after all, you essentially own a house that neighbors can’t meddle with as is often the case in co-ops.

NYC Real Estate – What you can get $1,249,000 – Upper West Side

Here is a rare opportunity to own a pre-war 2 bedroom, 2 bathroom home in

111 W 94th St #4C

111 W 94th St #4C

the heart of the Upper West Side. Every inch of this sunny apartment has been tastefully renovated. An elegant entrance gallery leads to a bright living space with separate dining area and two generously sized master suites creating a style of living enjoyed by very few city residents. The sweeping ceilings in this distinct pre-war residence, make the large rooms feel even larger. Characterized by pre-war details, this home abounds in such delightful elements as beautifully restored doors and detailed hardwood floors, baseboard and ceiling moldings. The windowed exquisitely renovated kitchen is a gourmet chef’s dream with custom Poggenpohl cabinetry, marble countertops and state of the art appliances including wine refrigerator. The kitchen is open to a beautiful dining area ideal for family gatherings and entertainment.Other highlights include renovated windowed bathrooms, abundant light from bright North, South and West exposures, built in speakers, closets galore and a pin-drop quiet interior. High efficiency Bosch washer/dryer and electrical upgrades complete the picture. A low maintenance is an added plus!
This wonderful art deco, elevator coop is located on a quiet tree lined block steps from Central Park, Whole Foods Market, transportation, shopping and dining.

The Co-op Apartment minimum down is 20%, monthly maintenance/cc is only $1,280 (including tax). Tax deductible is 57%. It is 2 Bed and 2 Bath at price of $1,249,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

NYC Real Estate – Murray Hill Co-op sale for $749,000

Welcome to a one-of-a-kind two bedroom loft in the heart of Murray Hill.

244 Madison Ave #3EF

244 Madison Ave #3EF

These two combined units create an artistically styled large two bedroom apartment with 14 foot ceilings and two full baths. As you enter, you walk through a large foyer with a dining area straight into the living room. The staircase leads you to the second bedroom loft. On the other half of the apartment, you will find a huge master suite with a built-in cherry wood library, dressing room, and an additional home office/walk in closet. The kitchen is equipped with granite countertops, pull out cabinets, mosaic tiles, and fairly updated appliances. The apartment features dark stained parquet floors, oversized sound proof windows, fantastic storage throughout, and a walk in closet. Murray Hill Plaza features a full time doorman/concierge, laundry room, renovated lobby with elevators, and a beautiful roof deck. Guarantors, co-purchasers, gifts, parents buying for children, and pied-a-terres are all permitted. Sorry no pet. The building is situated in the heart of Midtown/Murray Hill, and is accessible to all you need, including transportation, shopping, entertainment, and more.

The Co-op Apartment minimum down is 25%, monthly maintenance/cc is only $1,463 (including tax). Tax deductible is 56%. It is 2 Bed and 2 Bath at price of $749,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

 

NYC Rental – Rules for Roommate of Regulated Tenants

What are the rules for roommate of regulated tenants? Below is the Question and Answer provide by Jay Romano and published on July 7, 2011

Rules for Roommates of Regulated Tenants

Q I have heard that in a rent-regulated apartment a roommate can be charged only a “proportionate share” of the total rent. I have also been told that the law applies only to rent-stabilized apartments. Can you clarify this?

A “The law applies only to rent-stabilized tenants,” said Jamie Heiberger-Jacobson, a Manhattan lawyer who specializes in landlord-tenant law. “There is no such proportionate-rent rule for rent-controlled tenants.” But, Ms. Heiberger-Jacobson said, judges have long disapproved of “profiteering” by rent-regulated tenants, which is when a subtenant or roommate is charged an amount of rent that is well in excess of the total, legal rent. Current case law states that while a rent-stabilized or a rent-controlled tenant who charges a roommate a disproportionate share of the rent will not be subject to eviction by the landlord, he or she may be subject to an overcharge complaint by the roommate before the New York State Division of Housing and Community Renewal. And if the overcharge is deemed willful, the tenant could end up paying the roommate three times the amount of the overcharge.

What can you buy in NYC for $925,000, Manhattan New York

“Absolutely mint condition, pre-war apartment with contemporary

155 East 73 Street, Unit 4B, Upper East Side

155 East 73 Street, Unit 4B, Upper East Side

design, in coveted East 70s location” says Stephen Dartley with Prudential Douglas Elliman. “Situated on one of the Upper East Side’s most historical and picturesque blocks, intimate living abounds. Details include 9′ beamed ceilings, hardwood floors, wood-burning fireplace, French doors and perfectly proportioned rooms providing great flow and warmth. Gourmet windowed kitchen boasts built-in Liebherr fridge, Miele dishwasher and stove, Gaggenau range, and granite countertops. The windowed master bath is gleaming and renovated to perfection. The apartment has no less than six closets, an extra half-bath, and is fully wired with Bose surround sound system”.

Stephen Dartley also says “Classic and luxurious elevator building was constructed in 1923 and has a beautiful colonial style lobby. There are 37 total apartments in the building, and just 4 apartments per floor. There is doorman service, a live-in super, new laundry room, and bicycle storage. Pets are considered case-by-case, and the building has a reasonable board. This is a fantastic central location, west of Third Avenue, a short walk to Central Park, fine shopping, elegant restaurants and all transportation”.

This is Co-op Apartment minimum down is 25%, monthly maintenance/cc is $1,834 (including tax). Tax deductible is 47%. The square feet is 800 (approx). It is 2 Beds and 1 1/2 Baths at price of $925,000.

View my profile and other properties and contract signed listings at: http://www.elliman.com/real-estate-agent/diana-wu/4623. We pride ourselves as specialists in condominium and co-op sales in Manhattan.For more info, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

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What You Can Get For Your Money – The Neighborhoods of Manhattan

Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

What can you buy in NYC For $520,000, Manhattan New York

Great Value says Avi Voda of The Voda Group with Prudential Douglas Elliman.

405 E 63th St. #10J

405 E 63th St. #10J

“Come see this beautiful extra large one bedroom one bathroom apartment in a post war building with open Southern city views allowing excellent light into the living room, dining room and bedroom. The state-of-the-art kitchen features granite counter’s with stone backsplash, wood cabinets and stainless steel appliances. The apartment boasts several closets for plenty of storage and a newly renovated bathroom featuring Kohler fixtures.This luxury full service 24 hour concierge building permits pied-a-terres, co-purchasing & guarantors. The York-Gate is conveniently located near transportation, restaurants, shopping and entertainment”.

This is Co-op Apartment minimum down is 25%, monthly maintenance/cc is only $1,359 (including tax). Tax deductible is 50%. The square feet is 800 (approx). It is 1 Beds and 1 Baths at price of $520,000.

View my profile and other properties and contract signed listings at: http://www.elliman.com/real-estate-agent/diana-wu/4623. We pride ourselves as specialists in condominium and co-op sales in Manhattan. For more info, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info.

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Manhattan Real Estate – Building Financial Report – you must to read 

Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

Manhattan Real Estate – Building Financial Report – you must to read

Financial Statement

Financial Statement

When it comes to apartment building investments in Manhattan, you always have to know the Financial Report of the building. The reason is very simple because you invest an individual unit in a building – a multiple-unit dwelling and joint ownership with others in the common area. Therefore, the building should have a financial statement for Income, Expenses, and Assets to maintenance the common area as well as the building. The building should have cash or reserve fun to operate the expenses, repairs. and improvements . Viewing over the past three years financial statement will help you to know exactly what the gross income and expenses have been used in the building in order to determine approximately how much the apartment is worth, what the expected rate of return will be, as well as to see whether or not there is any maintenance or common charge increase in the near future. Or is there any assessments request in the near future.

First, analyze the incomes and expenses to look closely at all the expenses for each year for at least three years. To find out which expenses have increased and which have decreased from those years. If the increased expense is made for significant improvements of the property, this could add value and benefit to the owners of the building.

Basic the building needs a reserve fund to make improvements or repairs. The fund could be received from flip tax (most co-ops), monthly maintenance / common charge. Sublet fees, commercial rents, laundry income or other revenue source. If the reserve fund is deficiency, there could be either increase monthly maintenance or has an additional assessment to cover. Therefore if the building has commercial rentals, asking for a snapshot of the building’s rental revenues and when will be the leases end. For co-op building, investors have also investigated the building’s Underlying Mortgage.

A NYC professional attorney would assist buyers to go through those steps. However, if you become an educated buyer, you will get good money return. Real estate is a long-term investment opportunity. In this shifting real estate market, you may be able to purchase investment real estate that will secure your financial goals for the long term.

Manhattan Real Estate Market is very unique. The entire purchase process is different than anywhere else in the world. If you are interesting to have a FREE consultation, if you have any question about sell real estate in Manhattan, contact me directly Diana Wu at 516-320-0231 (cell) or email me at diana.wu@elliman.com.

I have the privilege and pleasure to work with The Voda Group at Prudential Douglas Elliman. The Voda Group has been the top, award winning sales team at Prudential Douglas Elliman since 2003. Our team’s hard working will help your real estate goal extremely successful.

To learn more about our custom-designed marketing plans, visit my website at:  http://www.elliman.com/real-estate-agent/diana-wu/4623 to receive a complimentary valuation of your home, or to discuss any real estate related topics, please contact us today.

New York Homeowners: Sale your home at TOP Dollar – Tips for Staged the home Appeal to the Buyer

Eclectic Living Rooms - Erinn Valencich

Eclectic Living Rooms - Erinn Valencich

– Tips for Staged the home Appeal to the Buyer

Southwestern Living Rooms - Amy Bubier

Southwestern Living Rooms - Amy Bubier

In Manhattan, even a multimillion home may sell for a price devastatingly below its true value if not staged correctly. What is staging? Staging is the process of de-cluttering and de-personalizing your home. Most apartments in Manhattan have a small living space. If you want buyers to see the home’s potential. You have to let the Buyers to fall in love with the space and to imagine themselves in that space. So you have to de-cluttering to make room bigger in order to let buyers image their own furniture and stuff fit in your home. There are so many apartments for sale in New York City neighborhood. Therefore staging your home right is very important. The goal of staging is to enhance the value of your property and make a fast sale with top dollar.

Normally, in New York City, staging can add 10% to 15% to the selling price. Follow these simple steps, and you are sure to get a higher return!
1. Consider changing the color in your homes to a warm, neutral color. Paint is cheap and can immediately enhance a room (whether by making the space seem larger, draw attention to some of the home’s unique architecture details, or otherwise). Remember, if your apartment is small, please use cool neural color instead the warm. Because the warm color will make a room looks smaller.
2. Take care of minor repairs. Nothing turns a buyer off more than a tear in the wallpaper or cabinets missing handles as this may lead the buyer to think that the house has been left to neglect. Remember today most buyers don’t wants to deal the wallpaper. It is out of fashion and very difficult to change. It will turn the some buyers off instantly. So please fix the wallpaper problem before sale if you want to sale at very short time. ,

Modern Living Rooms - Andreas Charalambous

Modern Living Rooms - Andreas Charalambous

3. Put personal belongings away. This includes putting away personal photos, trophies, awards, and memoirs. While your nieces and nephews may be the cutest little things, buyers may not care as much. Sometimes personal items can only serve to distract a buyer from the house’s features and you do not want that. You want the buyer to remember the house, not your personal touches.
4. Clean! This is related to #3. Cleaning is VERY important and the simplest thing you can do to quickly enhance a room’s features. No buyer likes to see dusty table tops.
5. Rearrange furniture. Try to move 50% off your furniture away (storage or into your new home) to make the room open, less crowded, and seem bigger. Again, most of apartments in Manhattan area are small. Be careful not to let a big TV or sofa block the outside view or the entrance. You want the room to feel airy and welcoming with plenty of space to move around. In the bedroom, it is a good idea to have only 2 nightstands and bed if the space is not exceptionally large. If you have a fireplace in prewar building, consider placing a sofa in front of it, surrounded by 1 or 2 chairs and maybe 1 coffee table for a clean and contemporary look.

Asian Living Rooms - Elizabeth P. Clarke

Asian Living Rooms - Elizabeth P. Clarke

6. If you have a house or townhouse in NYC, don’t forget the outside. It is crucial that you have street appeal. This is what draws buyers into the home in the first place. Make sure shrubs are trimmed and that the porch is freshly painted. Some fresh flowers won’t hurt either.
7. Details, details, details. Final touches can put a room, or even house, together for a cohesive, warm feel. Make sure to show off all the living spaces. Consider placing some fresh flowers on the tables. Open curtains to let natural light stream in past the window and brighten up a room. Remember, smells are very important too, especially if you have a pet. Taking the pet out and using some lemon or other fragrance before buyers visit the home can make the difference between a “must-have” home and a turn-off. If the house is dated, new floor or new countertops will help to make a high-end sale.

Contemporary Living Rooms - Andreas Charalambous

Contemporary Living Rooms - Andreas Charalambous

One last thing to remember: design the home for buyers, not for you. You must always think in the buyers’ shoes. With this approach, your house will sell at top dollar in half the time.
If you don’t want to hire a professional stager, visit a model room, designers portfolio or watch HGTV for ideas. Simple things can easily add top dollar to your home’s price. Another option is to discuss staging with your listing agent. He or she may be able find professionals in the area to work for you. As always, please feel free to contact me at 516-320-0231 (Diana). As graduate from FIT (Fashion Institute of Technology), I know-how, combined with my keen eye for design and effective staging tips, optimize appeal, my sharp negotiating for any property I market and lists. With my success, I have obtained the trust and satisfaction of many customers, prompting them to become loyal repeat customers and reward me with referrals. I will do the same with you. View my profile and other properties and contract signed listings at: http://www.elliman.com/real-estate-agent/diana-wu/4623. We pride ourselves as specialists in condominium and co-op sales inManhattan. To receive a  free analysis of your property, and discuss our marketing strategy, so please contact me at your convenience at (516) 320-0231 or email me at diana.wu@elliman.com. I have the privilege and pleasure to work with The Voda Group at Prudential Douglas Elliman. The Voda Group has been the top, award winning sales team at Prudential Douglas Elliman since 2003. Our team’s hard working will help your real estate goal extremely successful.

Other useful topical:
What You Can Get For Your Money – The Neighborhoods of Manhattan
5 Tips for Purchasing Real Estate in Manhattan
Manhattan Real Estate Glossary – Types of Rooms
Renting vs. Owning
Manhattan Real Estate – New is the Best Time to BUY