Greenwich Village One Bedroom Condo for Sale Market Report

Greenwich Village in New York City has and continues to be one of the most in demand neighborhoods.  A rich cultural history, aesthetically pleasing tree lined streets, near to multiple universities,  in the heart of downtown Manhattan, restaurants, shopping and entertainment all within a close distance.  It’s also a neighborhood that is made up of predominantly cooperative apartments when it comes to Real Estate.  For those looking for a condominium apartment, there really are not that many choices.

Condominiums for sale in Greenwich Village is one of those searches that are going to lead you to the same group of buildings and an even more focused search if you are looking for a new construction condominium in Greenwich Village or a Pre-war condo for sale in Greenwich Village.  Those searches are even more focused to just a handful of buildings.

The One Bedroom Condo for sale in Greenwich Village is one of the most sought after types of searches that we continually receive from buyers.  The location near NYU, Parsons, Stern Business School, SVA, make the neighborhood prime for the entry level 1 bedroom condo for sale market.  New construction condominiums are very difficult to build within the neighborhood due to neighborhood building restrictions and limited development sites, so the condominium market is limited.

With this limit comes with it a tight supply, the built in high demand and the result is pricing for a One Bedroom Condo for sale is going to start in the $900,000 range and quickly go up from there.

Pricing and Inventory for One (1) Bedroom Condominiums for Sale in Greenwich Village :

As of the end of January 2012, I only see Eight (8) One Bedroom Condos for Sale in Greenwich Village.  That is a tiny amount of inventory, when considering the market as a whole.

The pricing ranges on the low end of $1,150,000 up to $2,200,000.  The range in pricing is reflected in the building the apartment is located in, the size of the apartment, views and the condition.  I see condition playing a huge role in pricing right now.  Move in condition or recently renovated apartments sell at a premium and sell quickly.  
To give you an idea of the One (1) Bedroom Condominiums for Sale in Greenwich Village Market, in 2011 I see that approximately 25 apartments sold.  The average price was a little more than $1,100,000 and the average price per square foot was about $1,300 sq/ft.
These numbers reflect a variety of types of apartment, so depending on your own individual search, pricing will vary.

If you are looking to buy for yourself, a family member or as investment a One (1) Bedroom Condominiums in Greenwich Village NYC and would like help with your search contact us today at (917) 837-8869 or email at Morgan.Evans(a)Elliman.com

Read other useful blog posts about Greenwich Village below.

Greenwich Village New York Condos near NYU (New York University)

Greenwich Village Prewar Condos

Gem-Greenwich Village Townhouses

Beautiful one bedroom at 242 East 25th Street New York New York 10010 will be having its first SUNDAY OPEN HOUSE (1/28/2012).

242 East 25th Street building is a newly constructed building located conveniently in Kips Bay that is close to restaurants, cafe, grocery and transportation.   

 (One Bedroom/One Bathroom, approximately 712 Square Feet, Offering Price $559,000)

This South Facing one bedroom has floor to ceiling sundrenched windows, efficiency floor plan with generous closet space, stainless kitchen appliances and its own washer/dryer.

242 East 25th Street building has part time doorman, fitness center, roof deck and live-in superintendent to keep the building in excellent condition. 

The building is perfect for parents buying for children, investor or someone who loves Downtown living. This is a condop (coop with condo rules), so there is no board interview and condo sublet policy.

Come to first open house SUNDAY 1/28/2012 or Call today (917)837-8869 to schedule a showing today.

We talked with a potential buyer today from Australia who is looking to purchase a condo investment here in Manhattan New York. We suggested her few points when it comes to determine a good Manhattan condo purchase, and this is helpful for other potential buyers as well.

1)Location: Walkability is very important in Manhattan New York. Convenient location for public transportation, Manhattannites depend on subway, trains and buses to move around in this big city.  If the building is near a subway station, the condo is much easier to rent out or resell when that time comes. No one ever complains about having too many transportation options, but they definitely complain about having to walk 15 minutes just to get to a subway.

2)Carrying charge: If this is an all cash purchase with no mortgage payment. The owner (or landlord) is responsible to pay monthly condocommon charge and Real Estate taxes. So the lower combined carrying charge (the common charge and Real Estate taxes), the more net profit there is on the investment. Every building is different when it comes to the common charges and real estate taxes so determining the value proposition each building has is a necessary aspect of the purchase.

3)Sale price: The sales price of the condo is relevant to what has been sold in the building before, for example, if in the same building, condition, exposure, square footage size and layout is the same sold for $1,200,000 last week, and you can buy the downstairs unit with identical condition and layout for $990,000 because the seller is very motivated, then you may be buying "a deal", relative to units in the building. When it comes to sales price comparison of ‘a deal’, it is always ideal to compare within the same building, same neighborhood, same period of time (month/week), condition and exposure of the condo to determine if it is a good deal or not.

When determining a good Manhattan New York condo investment, ultimately we are talking about a condo unit(s) that is going to hold it’s value and have the best opportunity to maximize appreciation in the future.  Every buyer comes with their own thoughts on what makes a good investment, but as an active Real Estate agent in the Manhattan condominium market our experience will help you make a more well informed buying decision.

Call us today at (917)837-8869 so we can discuss in detail how we can find you the perfect Manhattan New York investment.

Buying an apartment in New York City will be an exciting and also daunting experience.  Because New York City offers a unique buying experience with many of its own quirks and differences the first step for any New York City first time homebuyer or first time investor is to become well informed and educated about the different real estate products you will be looking at to ensure your experience will be as calm and rewarding as possible. 

1. Co-Op:

A phenomenon that's almost unique to Manhattan, the Co-Op Apartment, has been the traditional form of ownership in New York City for the last century.  About 80% of all apartments available for purchase are in co-operative buildings.  Co-ops are owned by an apartment corporation.  When you purchase within a co-op building, you're purchasing shares of the corporation that entitle you, as a shareholder, to a "proprietary lease."  The bigger your apartment, the more shares of the corporation you own. 

Standard Co-Op apartments: Board approval is required. You are buying shares of corporation, you are required to put down 20% or more of down payment, there will be a full financial disclosure, debt to income ratio requirement and board interviewing process. Each Co-Op building has their own financial requirements and criteria, some are more flexible than others, such as allowing guarantor, co-purchase, gift money from parents, pied-a-terre, your debt to income ratio, work history, down payment required...

Subleasing a co-op can be difficult.  The board of directors will have to approve the prospective tenant subleasing your apartment.  Each building will have their own rules regarding for how long you can lease your unit and other criteria. 

All prospective purchasers must interview with the Board of Directors.  Prior to the interview, prospective purchasers  prepare a detailed "Board Package" which usually contains personal and professional letters of recommendation as well as a great deal of personal information concerning income and assets. 

Sponsor Co-Op apartments: NO Board approval is required.  These are Apartments that are held as an investment by the sponsor , the original developer who built the building or converted the building to a co-op. Sponsor units command a premium because people who might not pass a board or don't want to go through a board approval process can buy them.

For example, a sponsor unit would be a good choice for parents who want to buy an apartment for a child who is a student. A sponsor unit may be the best apartment for someone who is not working, or only has a short job history. Buyers of a sponsor unit should take note that they will need to pay NY State and NY City transfer taxes, and often the seller's attorney fees.  You still have to submit a board package (Homeland Security! The management company needs to know who is moving into their building) and you almost always have to abide by the building's house rules as far as sublet requirements and pets.

We have helped many buyers purchasing coop and condos in Manhattan New York. If you are a first time home buyer in Manhattan New York, it is important to team up with a market expert to help you navigate through it. Call us today at (917)837-8869 so we can discuss what will work best for you.

Gramercy Starck condo located at 340 East 23rd Street New York New York 10010--Looking ahead to 2012:

Right now there are handful of condo units that are currently in contract at Gramercy Starck.  We will have to wait and see what they close at and where the pricing is reflected.  There are 8 condos currently available on the market in the building.  Expect buyers to look at all of the sales and decide where the best value is at depending on the asking price versus what floor and exposure the apartment has.

• 1 bedrooms asking from $775,000-$950,000
• Studios in the $560,000-$620,000 range
• 2 Bedrooms asking in the $1,500,000-$1,600,000 range

As Real Estate agents who have done a number of both sales and rentals at Gramercy Starck, if you are interested in either buying, selling or renting a Gramercy Starck apartment, you can contact us today at (917) 837-8869 or email at Morgan.Evans(@)elliman.com

Below are some helpful market report on Gramercy Starck Market Report: Call us (917)837-8869 to discuss in details if you would like to sell or buy an condo unit in this condo building-340 East 23rd street.

Gramercy Starck 2011 Market Report Year in Review STUDIO APARTMENTS

Gramercy Starck Condo 2011 Market Report Year in Review One Bedroom Apartments

Gramercy Starck Rentals FAQ

 Gramercy Starck 2011 Market Report Year in Review TWO BEDROOM-THREE BEDROOM-DUPLEX SKY HOUSES APARTMENTS.

Two Bedrooms
No regular two bedroom sales occurred this year.  Currently there is a mid-floor E line two bedroom on the market asking $1,550,000.  

This apartment has outdoor space in the form of a balcony adjoined to the living room, very nice southern facing views.  

Most have outdoor space and very nice views of the Manhattan skyline.

Gramercy Starck 2011 Market Report Year in Review ONE BEDROOM APARTMENTS.
Gramercy Starck Condominiums for sale had a very constant 2011 Real Estate year.

To see the market report for Studio apartments in Gramercy Starck condo, click here (http://activerain.com/blogsview/2724143/gramercy-starck-2011-market-report-year-in-review-studio-apartments)

The average price for a one bedroom condo at Gramercy Starck for sale in 2011 was a little over $801,000.   

The One Bedroom condominium market at Gramercy Starck has been one of the most active segments of the market.  

The layouts of the One Bedrooms condos at Gramercy Starck are all relatively the same.

The main differences are that the southern facing lines(A,C) have balconies and the Northern do not.  The sizes range from smallest, 638 sq ft, to the largest L-Line at 770 sq ft.  

You will see the size differences most notable in the size of the bedrooms and increased size in the living room spaces.  The higher floor apartments with less unobstructed views still remain to sell at the highest prices. 

Gramercy Starck Rentals FAQ

2011 Market Report-Studio apartments in Gramercy Starck condo

Gramercy Starck Rentals and Sales Specialist

*All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

Gramercy Starck 2011 Market Report Year in Review STUDIO APARTMENTS

Gramercy Starck Condominiums for sale had a very constant 2011 Real Estate year.  I have tracked 13 closed sales for 2011.  

Park Avenue Condos located in the Upper East Side is one of those focused searches, specific to just the few prized condominium buildings. The Park Avenue condominium Real Estate market is always under a limited supply because the demand always outweighs the supply.  Below is going to be an overview of what is going on in the Park Avenue Condominium for sale market right now.

What’s New to the Park Avenue Condo Market?

The answer is not much, a Two Bedroom Condo came available at 900 Park Avenue Condominium asking approximately $2,500,000 in late November. Other than the apartment at 900 Park Avenue Condominium there have not been any noticeable new listings to come on the market.  There have been a number of price drops for a couple of different apartments.

The total inventory for condominiums with a Park Avenue address still lingers around 20-25 apartments.  The price range starts a little over $1,000,000 for 1 Bedroom Condos and tops out over $30,000,000 for the penthouse full floor residence with tremendous panoramic views and outdoor terraces at Trump Park Avenue at 502 Park Avenue.

Always interesting to follow are the Park Avenue Condominiums for Sale that have contracts signed, the pending apartments waiting to close.  There are currently 10 different apartments and this could change at any time due to them actually closing or coming back available to the market.

Five of the apartments are located at 949 Park Avenue.  That was a new construction condominium building.  It was a boutique building built between two larger apartment houses.  949 Park Avenue was made up of mainly duplex residences in the 2 and 3 bedroom range.  The price range for the 949 Park Avenue Condominium residences is approximately $4,000,000-$6,000,000.  Until they actually close the final closing price will not be known.

The other Park Avenue Condos for sale that are in contract range from a One (1) Bedroom condo at 502 Park Ave-The Trump Park Avenue in contract at $999,000 to a Two Bedroom, Two and a Half Bathroom Condo at 500 Park Avenue asking $5,700,000.  Again the final closing price will not be known until the apartment closes and the prices become public information.

If you are interested in knowing what any of these apartments actually close for, email us by clicking here:

http://manhattannycondosforsale.com/contact/

In the last 60 days there have been 4 Sold and Closed Properties along Park Avenue in the Upper East Side.  If you would like that list of apartments, call us at (917) 837-8869.

Even though there have not been that many new apartments on the market along Park Avenue, there are a couple of new condominium projects in the works that are going to be noteworthy.

737 Park Avenue is in the process of a condominium conversion and planned to start selling sometime in 2012, this will be an opportunity to purchase in a highly desirable location along Park Avenue in a full service fully renovated condominium building.

The old site of the Drake Hotel is plans for a new construction condominium building, planned to have towering views this is going to be a different type of opportunity along Park Avenue to live in a high rise building.

If you are interested in receiving any information or updates about the sales of these two buildings along Park Avenue or other new construction Upper East Side condominium buildings call us at (917) 837-8869.

Or if you are interested in purchasing a condominium on Park Avenue in the Upper East Side, call us today at (917) 837-8869 as we always have the most updated inventory availability and current market condition of the neighborhood.