Once again new legislation, this time sponsored by NYC's Public Advocate Jumaane Williams, would require co-op boards to tell rejected buyers in writing why they are being turned down. The Beresford a coop building photo@ Mitchell Hall The new bill is one of three targeting co-op transparency and would require co-op boards to provide this information within five business days after the board makes a decision. The statement would also have to provide enough information for you to make changes to any future application. Two other bills befor ..read more

Clinton - Hells Kitchen    Some still argue about the exact boundaries of Hell's Kitchen, but it's commonly considered to run from 34th to 59th Streets and from Eighth Avenue to the Hudson River. The area is also known as Clinton and long-time residents use the two terms interchangeably. East of Eighth Avenue including Carnegie Hall and Time Square is considered midtown west. Hells Kitchen has always been a neighborhood, made up of blue-collar families in walk-up railroad flats and theatre people who wanted to live close to where they work. For several decades the neighborhood ..read more

As the Fall Selling Season proceeds, current market conditions favor buyers. While leverage has shifted to buyers, the market remains functional even as prices dip. As the market slows from record levels, interest rates and the stock market will also help determine how buyers perceive the market in the next few months. What do Sellers have Control Over?  Location? No Room Count? No Square Footage? No Floor? No View? No Building Amenities? No (These attributes make up the underlying value of the property) What sellers actually have control over Price:  Nothing matters more than t ..read more

Property Shark's Author Eliza Theiss reported the top 50 Most Expensive NYC Neighborhoods Property Shark/Real-Estate-ReportReports the priciest-nyc-neighborhoods Key Takeaways:   Hudson Yards, TriBeCa & SoHo remain top 3 priciest neighborhoods in the city at $3M+ 38 neighborhoods surpass $1M median even as NYC median ticks down to $755,000 Sales activity continues robust evolution with 11% Y-o-Y increase Manhattan claims 7 of top 10 most expensive neighborhoods Brooklyn’s DUMBO records the sharpest increase in sales with 229% Y-o-Y surge Queens median remains flat Y-o-Y at $550 ..read more

         The Upper West Side of Manhattan is home to many private schools.  Below are some of the finest private schools on the Upper West Side. The Calhoon School - West End Avenue The Calhoun School is a progressive, independent, college preparatory school located in the heart of Manhattan’s West Side. Founded in 1896, Calhoun has grown into a two-building coeducational institution with 670 students, ranging from three-year-olds to twelfth graders. The Stephan Gaynor School West 89th and West 90th Street The Stephen Gaynor School ..read more

 New York City Area Median Income (AMI) The median income for all cities across the country is defined each year by the U.S. Department of Housing and Urban Development (HUD). The 2022 AMI for the New York City region is $133,400 for a four-person family (100% AMI). 2022 New York City Area AMI Family Size 30% AMI 40% AMI 50% AMI 60% AMI 70% AMI 80% AMI 90% AMI 100% AMI 110% AMI 120% AMI 130% AMI 165% AMI 1 $28,020 $37,360 $46,700 $56,040 $65,380 $74,720 $84,060 $93,400 $102,740 $112,080 $121,420 $154,110 2 $32,040 $42,720 $53,400 $64,080 $74,760 $85,440 $96,120 $106,800 ..read more

Government to back mortgages up to $970,800 in 2022 The baseline conforming limit rises 18% to $647,200 The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021.  National Baseline The Housing and Economic Recovery Act (HERA) requires that the baseline CLL for the Enterprises be adjusted each year to reflect the change in the average U.S. home pric ..read more

A seller recently asked what is the price differential for each floor in a Manhattan apartment building? In Manhattan, there are many variables in determining the price differential for each floor. A beautifully renovated apartment on a lower floor can sell for a higher price than an "original condition" apartment on a high floor. The parlor floor in a townhouse may be worth more than the 4th floor if it's a walk-up. A 10th-floor apartment facing the back will sell for less than the same apartment on the 5th floor directly facing Central Park. Unless the building owns the air rights over ..read more

The First Impression Did you know that within 15 seconds a buyer has already developed an opinion of your property? This is why establishing the right first impression is critical to achieving a successful sale. Following is a list of elements that create the overall first impression, including suggestions on how to make sure the buyer reacts favorably. A fresh coat of paint can be one of the best investments you can make to increase the value of your apartment. If you do not want to spend the money to paint the entire apartment, consider just the entry at least. Windows Attractive windows ..read more

View from 45 Central Park North A while back The New York Times published an article: How the Word ‘North’ Affects Prices: Living Along Central Park North. I was fortunate to have been quoted in the article along with a link to my sale and rental exclusive listings at 45 Central Park North, an HDFC income restricted coop. The Times did a great job capturing the many aspects of the hyper-local neighborhood in Harlem Central Park North also known as West 110th Street. 145 Central Park North 145 Central Park North is a brand new luxury condominium developed by Grid Group Dev ..read more