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Squash anyone? Kitchen of brownstone listed for $10 million.
They closed on the brownstone on Aug. 20, 2008 for $7.85 million.
It happens that Lehman brothers collapsed less than a month later, causing our housing markets to swoon.
While the markets in Manhattan and Brooklyn in particular have made great progress since then, we still have a way to go before reaching the peaks of days gone by.
Unfortunately, the sellers — I’m sure, a very nice family — have overestimated the demand for properties that can accommodate a big family easily. (more…)
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Sellers often fail to ask a vital question when interviewing potential listing brokers. (Flickr photo by David Davies)
When interviewing brokers to list their apartments for sale, prospective clients ask a lot of questions.
In many instances, the question that property sellers often want answered is how much of a fee the broker will demand. (Many a listing presentation and meeting could be spared if sellers with commission as their sole criterion simply asked for the percentage before a meeting is scheduled.)
Among the other bits of information that sellers may seek relate to a broker’s track record — for example, how many sales the agent achieved in what amount of time and in which neighborhood or apartment building.
But the most critical query centers on (more…)
Truncated living room in an Upper West Side studio apartment.
Given the cost of residential real estate in Manhattan, nothing could be more understandable than buyers’ willingness to match the imperfect co-op or condo that they decide to purchase with the amount of money they can afford.
Consequently, many folks in search of a new home readily accept the necessity of turning a two-bedroom apartment into a three-bedroom unit, an alcove studio into a one-bedroom home.
But they invariably pay a price both in aesthetics and, paradoxically, flexibility. Gone the dining area, the well-placed window in the living room, the airy ambiance.
So it is with (more…)
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View through kitchen into living room of Upper West Side condo.
Conventional wisdom has it that vivid colors can be an overwhelming obstacle to the sale of a residential property that is on the market.
Mostly the notion seems to hold true. It is difficult, the argument goes, for prospective buyers to imagine themselves in a home that speaks too loudly of its sellers.
In fact, I recall one client of mine who rejected a house in suburban Washington, D.C. — solely, she said — because she hated the wall covering in the living room. That sort of reaction happens more often than you might imagine.
But the well renovated apartment pictured here may defy the advice to tone down an apartment’s personality as expressed by bright colors.
Although I cannot imagine myself living with the palette chosen by the condo’s residents, I did find the place to be (more…)
Out and About: The allure of Hamilton Heights
May 20, 2013View of a Hamilton Heights from top floor of a nicely renovated 4,400-sf townhouse that is offered for $2.695 million.
For buyers accustomed to neighborhoods farther south, Hamilton Heights may represent challenges with respect to convenience, amenities and street life.
Yet on a recent tour of an even dozen open houses, I was struck anew with how vibrant the area is and how great is the value of properties in contrast to more popular parts of Manhattan.
As the New York Times has noted, the massive Columbia University development now rising to the south suggests that Hamilton Heights is on the verge of a boomlet:
The Heights (more…)
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