Hurricane Sandy: New York City’s massive, massive real estate opportunity


US President Barack Obama’s 5 Commitments to New York City may bring the surge in International Relations of the import/export industry, the obvious positive effects on Minority Suppliers (MBE’s) across America, as well as the boom in the Real Estate industry. Specifically, the impact he has committed to delivering on real estate in New York City and Hurricane Sandy victims.

Hurricane Sandy was the largest Atlantic hurricane on record. The second most costly hurricane ever, only following Hurricane Katrina. Beginning only as a tropical wave on October, 22nd, then into Tropical Storm Sandy just a few hours later and swelling into Hurricane Sandy 2-days later.

Since the massive hurricane began barreling through Kingston, Jamaica, Cuba and ultimately reaching the United States; devastating many parts of New York City on October 29th, President Obama has been establishing definite points of action. On MSNBC News Station on October 30th, later released on the Huffing Post website, President Obama spoke to the Federal Government Emergency Management Agency in Washington, US President Barack Obama named New Jersey and Lower Manhattan as potentially needing –and receiving- the most intense aid, for some time to come. Though, the President pledges his support for the entire New York City area. In that same speech, the President goes further to call-out the Federal Government and their historical red-tap bureaucracy which often delivers too little, too late. (Witnessed throughout the world after Hurricane Katrina just 5-years ago.) The $1.8 Billion natural disaster, devastated New Orleans and its surrounding areas, left much of its real estate in ruin, but it also took a huge negative blow to for former US President George W. Bush.

President Obama responded prior to Hurricane Sandy with a very hands-on proactive approach, assuring the people of New York City that “we will be there.” Making his first post re-election trip, to New York City just days after the devastation.

In all, President Obama made dozens of commitments to re-build New York City: Here are 5 which we felt needed to be highlighted:

1. Rapid Response –New York Daily News, on November 01, 2012, featured coverage of President Barack Obama as he assured that government aid would be nearly immediate and that they would not be forgotten. In fact, many groups were seen well before the actual event had occurred. Restoring electricity, pumping flooded areas and tending to victims was at the top of his list.
2. Presidential Visit –Wednesday, November 14, 2012 marks the first postelection trip for President Obama: his visit to the devastation in New York City. Seen on the ground, amongst the victims, as well as relief centers.
3. No Red-Tape –Mark Felsenthal for RUETERS on November, 3rd reported good news to hear for victims of Hurricane Sandy. As government agencies were forced to tap gasoline reserves and were receiving aid from all over the country. Though ‘delivery’ of necessary supplies to victims, such as water, blankets, generators and food still faced subsequent red tape; the fact was that supplies were delivered to New York City. According to REUTERS, the President, again urged “…emergency response officials to cut through government “red tape” and work without delay to help areas ravaged by monster storm Sandy to return to normal as quickly as possible.”
4. No Bureaucracy –President Obama was seen taking calls on his cell phone from politicians and New York City officials from the moment he walked off victory stage. “There’s nothing more important than getting this right,” the president said at a briefing with officials from the Federal Emergency Management Administration, the Department of Homeland Security, and state and local governments.
5. New Jersey – Obama spoke by video conference with the governors of New York, New Jersey and Connecticut and municipal officials to discuss efforts to help the East Coast states, he also stated New Jersey specifically as an area that will require intense, long-term aid -as well as Manhattan

By Kelsey Uh

Google

Top 5 Reasons Savvy Investors Love New York Real Estate


Central Park South Apartments for New York Real Estate InvestmentNew York’s location, population, metropolitan lifestyle, shopping, museums, diversity and events make it one of the most sought after real estate markets on the planet.

Historically, investors have fallen in love with the city due to its appreciation potential and welcoming purchasing laws for foreign nationals who seek to invest here. However, now as we reach the end of the real estate market lull, and prepare to enter into our next rise, investors are finding even more reasons to love real estate investment in New York.

1. Events –New York City is far from boring. The #1 attraction for people who are looking to buy -or rent- in the city is its multitude of events. From the Empire State Building Run Up Foot Race in February, the St. Patrick’s Day Parade in March, April’s Earth Day, The July 4th Celebration, Macy’s Thanksgiving Day Parade and of course, The New Year’s Eve Celebration in Time Square. When you buy or rent in NYC, you are buying into an exciting and ultra-diverse lifestyle.

2. Foreign Investment – New York City boast one of the country’s largest foreign investor communities. Foreign real estate investors are attracted to the city due to the value of their investments against the dollar in some cases. In addition, according to National Association of Realtors, many foreign nationals also enjoy the stable and secure real estate investment environment in the U.S.

3. Population – With over 8 million residents according to the Census, NYC is America’s most densely populated city, as well as one of the most diverse. Therefore, the New York real estate market is liquid and ever-expanding. Unlike most other markets which attract local buyers from one or two demographics, NYC attracts buyers –and renters- from all over the globe, from every economic background and lifestyle. This unique advantage, allows us to leverage the ‘global market’ rather than just our local market, which is a huge asset when the local economy may not be doing so well.

4. Expertise –Real estate experts in NYC are amongst the best in the world. From simple multi-lingual teams, and international reach, to well-connected brokers who can get your ‘deal’ in front of the most hard-to-reach people. The NYC market demands the best –and we deliver.

5. Value – Historical trends indicate a growth spurt in New York real estate somewhere around 2015. Just as in the past 34 years, New York City housing prices experienced two periods of rapid increase: 1980–1989 and 1996–2006. As well as two periods of decline: 1974–1980 and 1989–1996. Both booms were substantial, and both busts were relatively small. Prices increased by a mind-boggling 250% from 1974 to 2006 according to New York City Department of Finance, Furman Center. Indicating the approach of the next increase for investors who enter the market now, while entry is low.

The truth is, New York City real estate is affordable in the global marketplace. With property in New York City priced around $1,200 per sq. ft., according to AOL real estate published on Oct. 12th 2011, Paris at over $3,000 per sq. ft., London at over $1,600 per sq. ft., Singapore’s $1,500 per sq. ft., and Hong Kong somewhere around $1,000 per sq. ft., owning a piece of the ‘The Big Apple’ is becoming increasing more attractive.


TOP 5 Reasons Savvy Investors Love New York Real Estate by Kelsey Uh

Luxury Penthouse in NYC


Brownstone Penthouse for Sale in NYC Manhattan New YorkNew York is the most populated city in the United States of America and the major commercial, financial and cultural center of the United States. This center of the economy has placed many high net worth individuals looking for the best views and impressive layout, which has led to the top of residential buildings. These penthousesare typically differentiated from other apartments by luxury features. They boast the space, light, fresh air, the glorious sunsets to the west and most of all the sweeping views of the city, the park or the rivers.

A Luxury Penthouse in NYC provides impressive living in the sky. A full floor master suite has its own fireplace for those romantic evenings and cold winter nights. The living room in the penthouse offers a feeling of grandeur and the foyer that connects it to the inner masterpiece makes the interior design seem like a surprising art decoration with contemporary elegance.

Fifth Avenue Penthouse for Sale in NYC Manhattan New YorkOvercoming the issue of small space in regular apartments, penthouses are considered to be, in general, the most expensive with expansive views, large living spaces and top-of-the line amenities.

Manhattan is rich in luxury apartments and high-rise buildings. When looking for a Luxury Penthouse in NYC, there is a lot to consider—distance from work, your favorite restaurants and shops as well as whether or not all the amenities you expect in a luxury Penthouse.

Many luxury Penthouses in NYC are located in the heart of the city yet offer serenity far away from the noise and the crowd of urban life. Aside from regular condos and coop apartments, penthouses are known to be at the top of the market and are generally the most expensive with spectacular views, large outdoor spaces and top-of-the line finishes. Accordingly, they are often associated with an incomparable luxury lifestyle.



Luxury Penthouse in NYC by Kelsey Uh

★ www.RealEstateSalesNYC.com

High Price High Rewards: Manhattan Penthouse Market Report


The high demand for luxury living in Manhattan New York has been directed to homes on the top floor or floors of a building. High Net worth individuals are looking for unique penthouses that provide breathtaking panoramas views of the city that never sleeps.

Many penthouses for sale in NYC provide impressive indoor space scheme, landscaped outdoor space, cozy fire from the fireplace and the evenings with the sunset on the terrace.

The priciest penthouse in today’s Manhattan market is a $100,000,000 octagon-shaped condo in Midtown Manhattan. The 2nd priciest penthouse has an asking price of $95,000,000 and is located on Central Park South. The 3rd priciest Penthouse is priced at $60,000,000 and in the Upper East Side. The lowest priced penthouse is a studio coop at $299,000 in the Upper West Side.

Approximately 291 penthouses are available for sale in Manhattan New York. 20% of them are priced at over $10M and 6% of them have an asking price over $20M. Most penthouses over $20M have soaring ceiling heights, a huge outdoor space and most of all, stunning views.

Prices vary depending on the neighborhoods, the location, the view and the amenities. The current median price of NYC penthouses is approximately $7,200,000.

The penthouse share for a studio penthouse for sale is 3% and its median price is $520,000 and 1 Bedroom makes up 15% at median price of $1,364,000. 2 and 3 bedrooms are most common in NYC penthouses for sale at 27% and 28% at average price of 3,685,000 and $6,908,000. 4 bedroom penthouses are the third popular category for sale at 18% at $10,268,000. 6% of penthouses for sale have 5 bedrooms at $11,958,000 and 5% have over 6 bedrooms at $24,490,000 in Manhattan New York.

68% of all on market penthouses are condos, 3% condops and 29% coops.

On average, 64% of all available penthouses on the market in Manhattan New York have outdoor space. Approximately 75% of penthouses for sale in downtown Manhattan have outdoor space, which shows the highest rate, followed by Midtown West, Midtown East, Upper Manhattan and Upper East Side that are ranging from 65% to 70%.

Currently the highest median price is found in Central Park South at $30M. High priced Central Park South penthouses for sale boast sweeping views of Central Park. The next highest median prices are seen in Tribeca at $11M, SoHo $10.6M and Fifth Avenue at $9.6M, respectively.

The majority of the penthouses on the New York market are fully renovated with granite counter tops, marble baths and hardwood floors throughout.

NYC’s urban pressure is unusual; nevertheless, its luxury home market has much more to propose. Hence, luxury New York penthouse living not only offers the regular apartment advantages such as security and convenient location but also all those enhancements such as size, airy design, high-end appliances, finest materials, luxury floor plans and much more.

Live in the sky, live in your dream. NYC Penthouses offer high price and high rewards.

Manhattan Penthouse Market Report by Kelsey Uh


Upper East Side Penthouse Market Report
Upper West Side Penthouse Market Report
Midtown West Penthouse Market Report
Midtown East Penthouse Market Report
Midtown South Penthouse Market Report
Gramercy Park Penthouse Market Report
Chelsea Penthouse Market Report
Greenwich Village Penthouse Market Report
West Village Penthouse Market Report
East Village Penthouse Market Report
Lower East Side Penthouse Market Report
SoHo Penthouse Market Report
Tribeca Penthouse Market Report
Battery Park City Penthouse Market Report
Financial District Penthouse Market Report
Upper Manhattan Penthouse Market Report


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Maura Jarach Testimonial 4

 

“Sold at Asking Price by Maura! I write with pleasure this letter on behalf of Maura Jarach and I am thrilled that we crossed paths. I met Maura when I came to see a listing of hers on the market – an apartment I am in the process of purchasing. Maura was direct and sincere, which was refreshing after a long weekend of apartment hunting all over the city. She made helpful suggestions concerning potential improvements/changes to the apartment were I to purchase it, as well as ways to go about the process if I was serious about placing a bid, as there had been a contract out on it at the time. Of course to purchase this apartment, I needed to sell the apartment I currently own. I happen to know an NYC broker through a very close family friend and had planned on using him to list my apartment,although Maura had offered to list it for me. Maura knew that I had a friend in the business, but despite that, and without having gotten the green light from me to list it herself, she called me to talk about the listing and it became clear immediately that she had done more research on my building and on comparable area sales (without knowing for sure it would be hers to list) than my family friend had done in the two weeks since I had involved him in the process. Indeed, he and I had even gotten so far in the process that he came to my apartment to evaluate it for listing purposes, armed with a contract for exclusivity. However, he hadn”t bothered to learn much about the building or about the area, and I quickly realized that he would be the wrong choice. I called Maura to ask her to list it immediately. She took the time and did everything she could to move my apartment quickly at the best price. She was motivated, staying up late to research comparables, coming to my apartment as quickly as possible in order to list it as soon as she could. Furthermore, she made practical and useful suggestions for me to do in order to show it in the best possible light. The best evidence of her efforts and capabilities is that my apartment sold at asking price to the very first couple to see it. I couldn”t have pulled this purchase and sale off without the help of Maura. I am so pleased and grateful that I met her and, most importantly, decided to work with her on not only the purchase but the sale of my previous home! I recommend her enthusiastically and without reservation!”

KM

All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description.

Maura Jarach Testimonial 3

 

“A knowledgeable New York Broker Maura Jarach is very knowledgeable about New York City real estate. She was extremely helpful to us as first-time buyers. She was patient in showing us many places as we figured out what we wanted. Maura made herself available anytime and is very responsive to questions. We highly recommend her.”

Lynn and Gabriel

All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description.

Maura Jarach Testimonial 2

 

“My sale was a breeze! Maura Jarach helped me ride through the sale of my apartment with a breeze–that is to say, to completely free me of any problems, worries, or concerns. She showed the apartment diligently,and screened the prospective buyers carefully. While newspaper articles expressed concerns for the volatile real estate market of New York, Maura gave me regular updates on the apartment which allowed me to have a peace of mind. I was able to depend on her completely during the period my apartment was on the market, and remain grateful to her for the painless process.

Nancy Wu”

 

All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description.

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