Morgan's New York City Real Estate Blog

Wordless Wednesdays-Lights of the New York City Holiday Season

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 16 Dec 2009 22:14:10 -0600

Photos and graphics by Morgan Evans, Prudential Douglas Elliman Real Estate New York, New York. All information is believed to be accurate, but is not warranted in any way. Visit my website to search all apartments on the internet! Copyright " Wordless Wednesdays- New York City Holidays" 2009 all rights reserved

Speechless Sunday-New York Stock Exchange

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 13 Dec 2009 22:19:58 -0600

This is a picture of the New York Stock Exchange that was taken when my good friend, Sonny Kwan, was in town visiting from Mercer Island, WA. This is on my "to see" list of anybody visiting Manhattan.

New York City's Smallest Apartment - Spoke too Soon!

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 13 Dec 2009 13:05:17 -0600

New York City's Smallest Apartment-Spoke too Soon

Well it looks like the popularity of the first newstory about the tiniest apartment in Manhattan sprouted a couple of other inquiries to truly find the smallest apartment in New York City.

Here is a link to new article about the smallest apartment in Manhattan. I recommend watching the video which will give you the best idea of what this apartment is like.

Now I don't think this is a true apples to apples comparison of Manhattan's tiniest apartments simply because this is a rental apartment. The tenant is paying about $800/month for rent. The previous article was about a couple who actually bought an apartment.

Some buildings and neighborhoods are notorious to cut up the original layouts and make these tiny apartments, is this a legal apartment, I'm not sure. But as a commenter on the article stated, now the New York Fire Department knows about this apartment, even though an address is not given and from the video it looks near impossible to know where exactly this building could be located at.

I completely understand the mentality the gentleman renting this unit has. I have helped a number of young people who will be working extremely long hours and outside of work will be letting off a little bit of steam and only look at their apartment as a place to sleep. Location is super important so they will sacrifice renovations, views, and in this case size.

Copyright "New York City's Smallest Apartment - Spoke too Soon"

No Fee Upper West Side Rental Apartments - December 2009 Edition

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 13 Dec 2009 10:19:54 -0600

NO FEE UPPER WEST SIDE RENTAL APARTMENTS - December 2009 Edition

No fee rentals in Upper West side in New York City - Partner up with me to day To find your desirable NO FEE RENTALS in Upper West Side in New York city, being an Upper West side resident myself, I know the ins and outs of each Upper West Side blocks, building, management company, and your need to know information of this amazing neighborhood.

No fee Upper West Side apartments, December 2009 Edition. This past month I have been out with a number of customers looking for a variety of apartments. I have looked at park block studio's in brownstones, I have been in 2 bed/2 bath doorman buildings two blocks walking distance to Lincoln Center, and in a variety of prewar 1 bedrooms in the 80's and 90's.

Pricing-I have had a number of requests for studio's below or around $1500-$1700/month. This price point is very difficult to find something that is no fee or something that doesn't have some serious flaws involved. Flaws being, the size is tiny, 5th floor walk-up, view of brick wall, very less than desirable location. But I do see comparing it to last years market very favorable rental concessions. I have seen rents for some units come down approximately 15% sometimes more since last year.

Inventory-Everybody wants the same thing, and some are getting what they want. Everybody wants the 1 bedroom fully renovated, doorman unit for $2500 or less. These units when priced right, I still see rent out in a week or so. I saw a great studio at Dorchester Towers, 155 West 68th St, 22nd floor, eastern exposure-views of all the great Central Park West buildings, brand new renovations, no fee, I would say 550 sq ft, for $2375. This apartment was on the market for less than a week before application was made. I'd assume there was a little negotiation involved, but probably nothing too drastic. Now a studio for $2375 is on the higher side but this was a great space in a centrally located well run doorman building. The point to the story is that there is a lot of inventory, the un-renovated unit, initial inflated prices will sit until they become more realistic, but the well priced units still move quickly, so once its priced accordingly people will make quick decisions.

A sample of No Fee Rentals in Upper West Side in New York city.

245 W 72nd St-1 Bedroom, for $1700!! Elevator building, Pullman style kitchen!
245 W 75th St- Cozy studio for $1450! Elevator building, with laundry!
155 West 68th St-Flex 3/2 bath, huge 1400 sq ft, renovated for $5500! Doorman, elevator, garage, rooftop deck
155 West 68th St-Flex 3/2 bath, 1200 sq ft, open western and northern views, brand new renovations for $5300! Doorman elevator!
49 West 74th St-Renovated Large Park Block 1 bedroom for $2000!

No Fee Rentals in Upper West side in New York City-Most of the No fee rental in Upper West Side in New York city for rent will be either owned by individual owners or a management company. Management companies typically have straight forward guidelines of who they will accept as an applicant. If you do not meet their income requirements, credit scores, among other issues you will not be looked at. Naturally every company is different, but renting from a management company and directly from an owner will be a different process. An individual owner might be a little more flexible to work with.

Contact me at (917)837-8869 or email at Morgan.Evans(@)elliman.com to look for your No Fee Rentals in Upper West Side in New York City

Copyright "No Fee Upper West Side Rental Apartments - December 2009"

New York City's Smallest Apartment

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 09 Dec 2009 18:04:55 -0600

I read this article and figured I share it with the rest of the community. Anytime I work with a new buyer or renter they are shell shocked at the size and price of Manhattan real estate.

Recently, a couple bought a 175 sq ft apartment for $150,000. Here is a link to the pictures. I have shown rental apartments this size, but never a for sale unit. What's nice about this unit is that it appears to get good light. I find that a lot of small studios are positioned within a building to squeeze out just enough space and are right next to brick walls or in a building's air shaft. Because this unit looks to have a pretty clean open exposure that will do wonders for the lack of space.

The couple seems to have done a pretty good job of maximizing the space. They mentioned adding a Murphy Bed which I would say will be a very good addition. Overall my takeaway is that this couple is as happy as can be about their purchase. Which in the end is probably all that matters, it seems they got what they want and are having fun with the extra money they would have spent for a much larger apartment.

So next time you walk into a house and the buyer's mention how small it is, you can mention to them about how in New York City people buy apartments that are only 150 square feet.

How to Buy a Manhattan New York Condo (Part I) as a First Time Home Buyer

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 11 Oct 2009 13:14:54 -0500

Learn How to Buy a Manhattan New York Condo as first time home buyers. We are Manhattan Condo Specialists, we help find condos for first time home buyers, first time investors, parents buying for children and foreigners buying in Manhattan New York. We know the Manhattan Condo market but we also understand the specific needs for each type of buyer. In Part I we will discuss the needs of the first time home buyer.

Buying a Manhattan New York Condo as a first time home buyer you should know your buying power. Have you been renting for the last three years and you are ready to buy? How much equity do you have to put down? It is time for you to speak to a mortgage lender to understand today's lending rules and know your closing cost (bank fees, condo application fees, New York city and New York State taxes and attorney fees...etc) so that you have enough money to complete the entire transaction.

Buying a Manhattan New York Condo as a first time home buyer, it is a good idea to understand your timeframe. Do you have a lease that is coming to an end or do you have a month to month lease? Buying in Manhattan New York condo, a typical transaction takes 45-90 days or more. If you are not planning on financing, the quickest closing (if all parties cooperative) can happen in 45 days from the days you and the seller sign the contract, if financing, the process can take up to 90 days or more in today's market. To know when you need to move is absolutely neccessary!

Buying a Manhattan New York condo as a first time home buyer, you should keep an open mind as to what you can afford versus the location of your preference. If the purchase price (with the appropriate down payment and with lender's approved lending amount) is $500K, you are likely to find more space in Upper East side than the West Village. You should prioritize what are some must have items to you, is it location, is it doorman, is it the size, it is the price. Buying a Manhattan New York condo is an art of give and take, keeping an open mind to different options will help you to find the suitable Manhattan Condo!

Buying a Manhattan New York Condo as first time home buyer is important to team up with a patient and knowledgeable Real Estate agent that can guide you through the process. Looking for a Manhattan Condo can be a daunting task, but it does not have to be. Having a good Real Estate agent on your side puts you in a better position than other buyers because you not only can have professional knowledge and experiences, you will also have someone look out for your interest and negotiate on your behalf.

If you are looking to purchase Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

No inspection in Manhattan New York Real Estate

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 05 Sep 2009 08:06:27 -0500

No inspection in Manhattan New York Real Estate, Where the most of the Real Estate in the country has inspection as part of the negotiation, buyers are allowed to inspect the property once the offer has been made and written and ask the sellers for credits and money back after they inspect the property, in Manhattan New York Real Estate, we sell the Co-Ops and Condos in 'AS IS' condition.

No Inspection and "AS IS" condition (in Manhattan New York Real Estate) means all appliances should be in working order,there should not be any visible structural damage, such as leak, cracks in the wall and etc. The seller is responsible to fix if the dishwasher, refrigerator, stove, faucet, and etc is not working. The seller is NOT responsible if the buyer wants a new sink, new floor, or a new coat of paint. Sellers are not obligated or responsible for cosmetic fix ups. The general practice in Manhattan New York Real Estate, we do not credit buyer any money back for non-structural fix ups. (there are some more complicated transactions and exceptions will be made).

With that being said, even though in Manhattan New York Real Estate there is no formal inspection, buyers should always inspect the property and note all the cosmetic fix ups should be discussed with buyers' agent prior to buyers submit the offer. Buyer can always suggest part of the cosmetic fix up to be sellers' responsibility during the price negotiation, however, it is up to the seller to decide if this is something they are willing to do. If the seller is not willing to make the changes that was suggested, buyers should take that cost into consideration when submitting an offer, and not after the offer was submitted! Once the offer is accepted, most of the time sellers are not interested in re-negotiate an offer after the offer is verbally accepted.

*exception can always be made, though this is the general practice in Manhattan New York Real Estate.*

Below are some more information for you to understand Manhattan New York Real Estate market better.

KNOW YOUR PRODUCT-PART 1 OF 5

KNOW YOUR BUYING POWER-PART 2 OF 5

KNOW THE FINANCIAL REPORT OF THE BUILDING-PART3 OF 5

Culture Shock buying Manhattan New York

If you are a first time home buyer, or a buyer that is relocating to Manhattan New York, please note there are lots of different Real Estate practices here in Manhattan New York. To have a smooth home buying practice, it is beneficial for you as a buyer to be educated with not only the market but only the purchase process. Contact us today as we are Manhattan New York Relocationg specialists and we are the market expert. (917)837-8869 or morgan.evans(@).com

Gramercy Starck Rental and Sales Experts

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 26 Jul 2009 08:22:20 -0500

This chic blue glass building was complete in 2008. Philippe Starck has designed the building's interior and buyers could choose from three "finishing" packages for their apartments: classic, culture or nature.

Gramercy Starck Rental One of the best priced high floor one bedroom rentals in Gramercy Starck condominium.

Gramercy Starck Rental Beautiful BRAND NEW NEVER LIVED IN one bedroom in Gramercy Starck Condominium. Fantastic Empire State Building Views.

Gramercy Starck Rental Washer/Dryer in Apartment. Gramercy Starck offers luxury amenities, including library Lounge, landscaped roof terrace, roof deck, a 2600 sf. Starck designed Health Club with Lounge area. Call Today to schedule an appointment.

We have helped multiple owners and renters find their perfect home in Gramercy Starck Condo. Please call us today if you want to schedule an appointment. (917)837-8869 Morgan Evans. Morgan.Evans(@)elliman.com.

Do you have a Hot List?

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Fri, 24 Jul 2009 23:51:18 -0500

Do you have a Hot List? Recently in my office an initiative started to create an internal "HOT LIST" of properties. A property to be worthy of the hot list has to meet a couple of criteria:

Priced to Sell compared to Relative Properties
Something Unique, Special, Remarkable that Sets this property Apart from the Crowd
A property that "YOU" would buy if you were in the market for this type of apartment

The hot list would be circulated between agents and we would see some potential deals for our customers. I think this idea was great. I recently heard the quote, "You Sell what you See." We all have customers that pass on properties for certain reasons, but throughout the process of showing a property or during a negotiation you see what a property could trade for. You see that somebody could get a really terrific deal.

One of the iron clad rules of the hot list was that the property cant be one of your own listings that you've been trying to sell for the past 10 months with no avail. You can't exchange in a "I'll rub your back you rub mine" exercise of agreeing to recommend the listing of the person you sit next to in the office and vice versa. We all know when we see an overpriced listing!

I look forward to seeing this week's hot list. There are a lot of super creative, very smart, productive agents in my office and I'm sure they come across some interesting apartments in their daily routines. I am hoping some of these properties fit the bill for what my customers are looking for.

If you would like to receive the Hot List just to see what properties are being recommended contact me today (917)837-8869 and I will put you on the list.

Central Park Scenery - Wordless Wednesday!

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 15 Jul 2009 09:27:14 -0500

Central park Reservoir
The Great Lawn in April 2009
Upper West Side Lincoln Center- the New Alice Tully Hall
Upper West Side Condos
About Us

We are residents of Upper West Side in Manhattan New York and also successful Real Estate agents under Prudential Douglas Elliman. We know the neighborhood intimately and have market knowledge to share with you or anyone that may need that information. Contact us today at (917)837-8869 or Morgan.Evans(@)elliman.com.

Co-broke or Go Broke!

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 15 Jul 2009 08:51:44 -0500

Co-broke or Go Broke in Manhattan New York Real Estate! When I first started selling Real Estate in Manhattan an experienced broker said to me, "Sometimes you either co-broke or go-broke."

Manhattan New York is a different animal as far as the exclusive broker being the gate keeper to every single one of their exclusive properties. As I have blogged before we don't have keyboxes on our properties. Any time an appointment is made to look at an apartment we have to show it ourselves. In years past when the market was red hot getting appointments to see a great apartment could become very difficult. The listing broker would have a variety of reasons why they couldn't show you or accommodate anything. This is a reason why building a relationship with big listing brokers is very important. Many times I was able to view an apartment with my customers before an official open house to the public because I knew the listing broker personally or they were from my office.

Now that the market has changed listing brokers are bending over backwards to accommodate any type of appointment. You could ask for that 730pm Friday night appointment and they will try to make it happen or call them the morning of and they will rush over to show. I know this myself because with my own listings I try to do everything I can to work something out to show the apartment every chance I get.

Getting back to that sage advice I received, in a hot market selling the apartment to a buyer who is unrepresented coming direct would obviously enable the listing broker to not have to co-broke or share the commission with another side. This is why some listing brokers would make it very tough for agents to see property, trying to buy enough time for a direct buyer to make an offer. Not the most ethical thing to do, but it happened. Now that buyers are scarce showing an apartment to any interested property is the name of the game!

WHAT DO YOU DO in YOUR MARKET PLACE? Has the Real Estate community change its attitude since the shift of the market? Love to hear from your part of the market!

_________________________________________________________________________________________

We are residents of Manhattan New York and also successful Real Estate agents under Prudential Douglas Elliman. We know the neighborhood intimately and have market knowledge to share with you or anyone that may need that information. Contact us today at (917)837-8869 or Morgan.Evans(@)elliman.com.

Central park Reservoir

The Great Lawn in April 2009

Upper West Side Lincoln Center- the New Alice Tully Hall

Upper West Side Condos

About Us

No Fee Upper West Side Rental Specialist

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 15 Jul 2009 08:35:50 -0500

Lately I have been very busy in helping out of town renters and newly transplant New Yorkers looking for their perfect Rental apartments in Upper West Side Manhattan. I am an Upper West Side Resident myself, therefore many of these renters feels that they are not only working with the neigborhood expert, they are also getting a tour guide to find the best coffee spot, bakery, or a burger joint!

Many renters call me because I specialize in No Fee Upper West Side Rental, No fee means the renter does not have to pay a Broker's fee. (In Manhattan, typically renters are responsible for 15% of the annual rent as brokers fee. This year, many rental management provide extra incentives to the renters in which they will compensate part of the broker fee) With that being said, why not utilize a broker that can help you in finding the suitable apartment when a knowledgable broker has all access and the ins and outs of all inventory. Our Upper West Side rental specialist Morgan Evans will help you find the perfect Upper West Side apartment.

No fee Upper West Side Rental, is in high demand and low supplies! Summer season, it is known to be the busiest rental season. This year is no different, we are receiving at least 7 phone calls a day with potential renters looking to find a space, we are the Upper West Side rental expert, because we are familiar with the neighborhood, buildings, and intimate knowledge of the managment company.

No Fee Upper West Side Rental, if you are relocating...Organize and prepare the necessary information to bring with you, including:

Letter of employment and salary verification (include start date if not yet employed)
Bank account numbers (checking and savings), credit card numbers
Names, addresses and phone numbers of previous landlords
Names, addresses and phone numbers of accountant and attorney, if applicable
Names, addresses and phone numbers of personal and business references
Tax returns
Pay stubs
Expected bonus (verification from employer)
Additional sources of income with verification
Personal identification with photograph - driver's license or passport

No fee rentals in Upper West side in New York City. As a resident of Upper West Side, I always enjoy going to the Central park and walk through the treeline blocks with beautiful brownstone townhouses on each side of the block. If one is looking for New York charm, brownstone apartments are without a doubt, one of the type of housing that will help you feel like you have arrive in New York.

Contact Morgan at (917)837-8869 or email at Morgan.Evans(@)elliman.com.

No Fee Rentals in Upper West side in New York City

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Mon, 01 Jun 2009 20:43:21 -0500

No fee rentals in Upper West side in New York City - Partner up with me to day To find your desirable NO FEE RENTALS in Upper West Side in New York city, being an Upper West side resident myself, I know the ins and outs of each Upper West Side blocks, building, management company, and your need to know information of this amazing neighborhood.

A sample of No Fee Rentals in Upper West Side in New York city.

245 West 75th Street -Terrific Upper West Side No Fee Rental walking distance to Fairway!
63 West 68th Street - Renovated No Fee rental in Upper West Side 1 block to Central Park!
162 West 80th Street - Elevator Building 1 bed No fee rentals in Upper West Side
115 West 74th Street - Tree lined block beautiful 1 bedroom no fee rentals in Upper West Side
245 West 75th Street - Terrific No Fee Rentals in Upper West Side in New York City
32 West 73rd Street - Fantastic location No fee rentals in Upper West Side
155 West 68th Street - Doorman building, must see no fee rentals in Upper West Side
245 West 72nd Street - Steps to Subways and Central Park No Fee Rentals in Upper West Side

No fee rentals in Upper West side in New York City. As a resident of Upper West Side, I always enjoy going to the Central park and walk through the treeline blocks with beautiful brownstone townhouses on each side of the block. If one is looking for New York charm, brownstone apartments are without a doubt, one of the type of housing that will help you feel like you have arrive in New York.

Contact me at (917)837-8869 or email at Morgan.Evans(@)elliman.com to look for your No Fee Rentals in Upper West Side in New York City

Copyright "No Fee Rentals in Upper West Side in New York City" 2009

NYC Listings : Absorption Rates Explained

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 30 May 2009 20:55:48 -0500

Are you looking for NYC Listings in Manhattan? NYC Listings for property in Manhattan can be emailed directly depending on your search criteria. We have access to all of the NYC Listings in Manhattan. If you are just starting your search or would like a detailed analysis of the properties that are of interest to you, we can provide all of the information you need for your NYC Listings search.

Your NYC listings search begins at looking at property that meets your personal criteria. As your search becomes more serious and you are interested in making offers on potential apartments, having the tools at your disposal to make an educated buying decision becomes more important. One of these tools is the Market Absorption Rate.

Definition of Absorption Rate: Number of weeks/months it takes to sell the current inventory at the present rate of sales

3 Important Factors to Consider:

Manhattan does not have a MLS so tracking the total amount of inventory is not an exact science, different websites give different numbers, so based on what set of data is used will ultimately determine different absorption rates
How is the current present rate of sales determined? Once again this is a rate that depends on the source material used, there are many different places and figures giving the current rate of sales for Manhattan.
Absorption Rate is a trend. From week to week, month to month this number will change and is based on a number of factors that need to constantly examined.

Why is Absorption Rate Helpful to You?

It will allow you to know when a real estate market most favors buyers or sellers with actual evidence?
If you are looking to sell, the market absorption rate will help you identify a factual time period it will take to sell your property based on your price point
Absorption Rates will indicate whether the local market is a buyers market, sellers market or a neutral market.

The question an absorption rate answers is "Is the inventory in a given market expanding or shrinking? "

If you are looking for a NYC listing follow the link. If you would like to receive the Hot List of NYC Listings click here!
For more information about NYC Listings in Manhattan go to our blog.

Dorchester Towers : May 2009 Month in Review

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 30 May 2009 20:54:32 -0500

The Dorchester Towers Condominium (155 West 68th Street) offers a unique ability for your buying and rental needs. Dorchester Towers is one of the largest full service condominium buildings on the Upper West Side. Dorchester Towers has about 680 units spread out over 32 floors and two towers.

The spring selling season at Dorchester Towers was definitely true to form as more activity and lots of foot traffic made its way into our building. The first quarter market report saw significant declines in pricing, volume of sales, and a surge in inventory levels. How busy was the spring going to be when typically sales are at their highest? There was a lot of traffic and sales occurred, but only on properly priced apartments.

Dorchester Towers saw a number of properties come on the market. Including our one bedroom listing apartment 1433. With such close proximity to Lincoln Center and various subway lines open house traffic is always strong in the building. Some of our open houses had a dozen people waiting for the doors to open. Well priced property sees a lot of activity and buyers are looking for value.

Currently on the market in Dorchester Towers are a variety of apartments, alcove studios all the way up to a 4 bedroom 3 bath combined unit. We see a lot of people who currently live in the building or who have lived in the building in the past now looking to possibly purchase. This just goes to show that the building management and quality of life at Dorchester Towers is strong.

Renting in Dorchester Towers is still a strong option for many people. If you are looking for a studio, one bedroom, junior 4, two bedroom or three bedroom, it is all available. Here are a couple of apartments that are currently available:

For Dorchester Towers Condominium sample floorplans for 1-Bedroom Floorplan , 1-Bedroom w/dining alcove(JR 4) Floorplan or 2 -Bedroom 2.5 Bath Floorplan. If you are looking for a studio, alcove studio or different configuration contact us and we will provide your desired request.

For a complete list of the current apartments for sale at the Dorchester Towers Condominium or for condominium apartments for sale in the Upper West Side call Morgan Evans or Eileen Hsu at (212)321-7122 for further details.
*If you are thinking of selling your Dorchester Tower Apartment ( 155 West 68th Street)*

**We are in a competitive market, hence working with two agents that live in the building and that specialize in condominium sales will you give you an advantage when it comes time to sell or rent your apartment. Our approach to selling your apartment is intentionally unique. We use strategies that most real estate agents do not use. If you are interested in hearing our proposition, contact us immediately to see how we can help you achieve your goals.**

Copyright © 2009 By Morgan Evans, All Rights Reserved.*Dorchester Towers Condominium (155 West 68th St) May Month in Review*

No fee rental in Upper West Side in New York city

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 30 May 2009 12:12:57 -0500

No fee rentals in Upper West side in New York City, with the current soft market and economy, the renters have the upper hand in many situations. One in particular is that many rental companies and owners are offering to cover the brokerage fee for the renters. RENTERS, so why would you not want to utilize a broker's service for free?

No fee rentals in Upper West side in New York City. As a resident of Upper West Side, I always enjoy going to the Central park and walk through the treeline blocks with beautiful brownstone townhouses on each side of the block. If one is looking for New York charm, brownstone apartments are without a doubt, one of the type of housing that will help you feel like you have arrive in New York.

No fee rental in Upper West Side in New York City, There are many options for Manhattan Brownstones Apartments for rent-Upper West Side near Central park. There are large studios (approximately 550 SF), one bedroom, and some two bedrooms. Many of these Upper West side Brownstone Apartment rentals have old school charm, beautiful details on the wall, doorway, decorative or working fireplace, exposed bricks and the boxed wood floor, the best part is that the kitchen and the bathroom have been updated with modern appliances, so you have the best of the both worlds.

These Manhattan Brownstones Apartments for Rent-Upper West Side are located in one of the most desirable areas of the Upper West Side. Just steps to Central Park and in between multiple subway lines and bus routes this is one of the most convenient places to live. Living in a brownstone, offers a lot of options. Finding a renovated unit is going to be difficult, but is do-able as long as you look in the right places. These No Fee Manhattan apartments are typically less expensive than other doorman buildings in the same areas of the Upper West Side.

Most of the No fee rental in Upper West Side in New York city for rent will be either owned by individual owners or a management company. Management companies typically have straight forward guidelines of who they will accept as an applicant. If you do not meet their income requirements, credit scores, among other issues you will not be looked at. Naturally every company is different, but renting from a management company and directly from an owner will be a different process. An individual owner might be a little more flexible to work with.

No fee rental in Upper West Side in New York city

Contact us direct at (917)837-8869 or email at Morgan.Evans(@)elliman.com to look for your Manhattan No fee rental in Upper West Side.

No Fee Manhattan Apartments-Upper West Side Brownstone Edition

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 20 May 2009 21:51:35 -0500

No Fee Manhattan Apartments-Upper West Side Brownstone Edition, the beautiful brownstones near Central park and in those treeline blocks. You will find that charmy Brownstone apartment with us.

This afternoon I toured a half dozen no fee Manhattan Apartments-Upper West Side located on the Upper West Side. Located between Central Park West and Broadway and from the mid 60's to the low 100's there are a various supply of starter studios to larger full floor two and three bedroom duplexes. Most of the buildings in this area are brownstones. These historic buildings have a lot of character and detail that is unique to this area.

These no fee manhattan apartments-Upper West Side are located in one of the most desirable areas of the Upper West Side. Just steps to Central Park and in between multiple subway lines and bus routes this is one of the most convenient places to live. Living in a brownstone, offers a lot of options. Finding a renovated unit is going to be difficult, but is do-able as long as you look in the right places. These No Fee Manhattan apartments are typically less expensive than other doorman buildings in the same areas of the Upper West Side.

These no fee Manhattan apartments-Upper West Side will be either owned by individual owners or a management company. Management companies typically have straight forward guidelines of who they will accept as an applicant. If you do not meet their income requirements, credit scores, among other issues you will not be looked at. Naturally every company is different, but renting from a management company and directly from an owner will be a different process. An individual owner might be a little more flexible to work with.

NO Fee Manhattan Apartments-Upper West Side Brownstone

Contact me at (917)837-8869 or email at Morgan.Evans(@)elliman.com to look for your No Fee Manhattan Apartments

Copyright "No Fee Manhattan Apartments- Upper West Brownstone Edition" 2009

NYC Listings

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Tue, 19 May 2009 21:48:10 -0500

NYC Listings - Searching for an Apartment is not the easiest task to do if you are not familiar with Manhattan New York Real Estate market.

NYC Listings, Are you interested in buying or renting an apartment in Manhattan? Well if you have started your search you have already realized that searching for NYC listings is not as easy it appears. The search for a rental apartment and a sale apartment are going to be two quite different processes. What makes the search difficult is that Manhattan does not have a MLS like almost every other part of the country. So how do you conduct a comprehensive search?

Finding your perfect NYC Listing is not as easy as you think because complete information is hard to decipher. The real estate companies websites do not share NYC Listings. You can't go to Elliman's website and see Corcoran's listings like you could in a MLS setting. So you have to go to each company's website to set up a search. The question is what about the smaller companies that have their own listings, those properties are slipping through the cracks because you are not searching on their platform.

Step 2, go to a website like NYTimes, trulia, OLR, or Streeteasy. These websites are sort of like a MLS website where they compile a more comprehensive list of all the cooperating brokerage firms. Once again, not all companies have the reach to send their listings to these sites or update the information of their listings regularly, so listings are still falling in the cracks, but these sites definitely have some innovative search criteria and capability. Their is lag time between when these websites get a new listing or when a listing changes price, so by the time these websites get the information if a listing was priced very well it can already have offers on it. If you are looking for a super competitive price point or segment of the market this is something to consider.

Or you can work with a broker who has access to all of the NYC listings available. We have a comprehensive list from all of the firms that belong to the Real Estate Board of New York (REBNY). If you ask a broker to conduct a search for you they will do so based on the information you give them. Something to keep in mind is that not all broker's skill at searching for properties is the same. Being able to tweak a search will enable them to find that property that could work for you based on your original criteria.

To Read Our Home Buyer Blog Series:

We also have a list of NYC listings that we consider "Hot Properties." These are properties that as brokers we deem as exceptional values in todays market. This is a great list to see some of the best priced properties within different market segments throughout the city. Contact us today to have your own customized search for all NYC listings. Contact us (917)837-8869 or Morgan.Evans(@)elliman.com today to receive the monthly HOT Properties list.

Manhattan Apartments No Fee

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 16 May 2009 20:57:20 -0500

Manhattan Apartments No Fee, we can help you find them in the time frame you want.

Manhattan Apartments No Fee are plentiful with certain conditions. These apartments will be more than likely in a rental building managed by a big management company. Management companies typically have straight forward guidelines of who they will accept as an applicant. If you do not meet their income requirements, credit scores, among other issues you will not be looked at. Naturally every company is different, but renting from a management company and directly from an owner will be a different process.

No Fee Manhattan Apartments are typically a little bit more expensive than similar apartments rented from an owner. This isn't a rule, but something I see regularly. The no fee is built into a more premium rent. I see examples of buildings that have both owner rented units and management company rentals side by side.

Right now renting an apartment is much easier than in years past. Finding a Manhattan Apartment No Fee is typically the first thing people ask me to do when they call about our rental apartments.

Here are my top three Manhattan Apartments No Fee Listings for this week.

NO FEE Upper West Side Rental One Bed/One Bath: Dorchester Towers $2850
NO FEE Flatiron Rental: Flex 2/1 bath 270 Park Ave South-$3495
NO FEE Upper West Side Cozy Studio: 245 W 75th St-in elevator Building for $1400

Contact me at (917)837-8869 or email at Morgan.Evans(@)elliman.com to look for your Manhattan Apartment NO FEE rental.

You Sell What you See

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 16 May 2009 12:26:25 -0500

I have a fair amount of confidence in my product knowledge for the type of properties I represent and the buyers that I typically work with. I would categorize my expertise as sub-million condominium properties.

In Manhattan our market is broken down into three categories, condominium, co-op, and townhouses. Townhouses represent a very small subset but specialized part of the market, co-ops represent about 75% of the market and the rest are condominiums.

Within my areas of expertise I know what properties sell for, I know the listings that are the most attractive, I know whats just came on the market. I take time to go see these properties so I know which ones have the good views, which ones need the gut renovation, and the ones the agents say the seller is ready to look at all offers.

What I have found is that during open houses or appointments I can have much more intelligent conversation with attendees or discussions on the market conditions.

It's fun to talk to people and ask them what they think of other apartments having seen them myself. Once I can talk to somebody and if they share what they are looking for its fairly easy to know what will work for them at the given time. The people who want open views, dog friendly buildings, washer dryers in the unit, whatever the preferences might be, its easy to have a conversation, rather then just sitting there in the open house and hope that they are going to fall in love with the apartment on the spot.

It seems to me that previewing is a lost art, only for the "new" agents who have nothing else to do. Naturally every body gets really busy from time to time and its not easy to set time apart to go look, especially in Manhattan where we don't have lock boxes. Taking a Sunday and going on the same open house circuit that other buyers are going on is just as worthwhile probably more so than holding a random open house somewhere and hoping that people show up.

Do you have a Hot List?

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sat, 16 May 2009 08:03:30 -0500

Recently in my office an initiative started to create an internal "HOT LIST" of properties. A property to be worthy of the hot list has to meet a couple of criteria:

Priced to Sell compared to Relative Properties
Something Unique, Special, Remarkable that Sets this property Apart from the Crowd
A property that "YOU" would buy if you were in the market for this type of apartment

If you would like to receive the Hot List just to see what properties are being recommended contact me today (917)837-8869 and I will put you on the list.

Short Sales in Manhattan New York

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 19 Apr 2009 19:32:50 -0500

Short Sale Manhattan Part 4 Short Sales in Manhattan New York

What is a short sale?

Short Sales in Manhattan New York Definition: "For homeowners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a short sale. When lenders agree to a short sale in real estate, it means they are willing to release their lien against the home for less than the outstanding mortgage balance (including default interest and penalties, etc.).

Just as there are many different lenders there are just as many different policies governing the short sale procedures. The lenders all have their own criteria of what short sales they will accept. Just because your apartment falls in this category does not mean that every apartment will be approved for a short sale.

The next thing to understand for both sellers and buyers is that a short sale does take time.

Short Sales in Manhattan New York Timeframe: From the time a Contract is entered into to sell the apartment, the process should take no longer than 4 months. However, we have been known to negotiate short sales in as little as 3 weeks. All transactions are reviewed on a case-by-case basis so as to better advise the property owner what can expected. Things change often, rules change often in Short Sales. What a lender says is the way it is one day may change tomorrow.

Why would a lender want to do a short sale in Manhattan in the first place? Well, sometimes the loss they will accept on a short sale is less of a loss than if they foreclosed on the property. Foreclosing is not a cheap process at all and in New York it is very time consuming. Most homeowners can keep the lender at bay for months and sometimes even over a year. At times the lender feels it is better for their bottom line to accept a short sale.

Not every homeowner is qualified to do a short sale in Manhattan and we will cover the criteria in the next post in this series: Short Sales In Manhattan. So stay tuned...

Disclaimer: This post is not intended to be or to provide legal advice. We recommend that you speak to your attorney and your tax accountant regarding specifics and to find out if this is the best option for you in your situation.

Visit our profile to find out more about our services. Call us today at 917.837.8869 or 212.321.7147. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.

P.S. If you are listing your home as a short sale in Manhattan make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 917-837-8869 to find out more.

Manhattan Listings- 1st Quarter 2009 Market Report

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 19 Apr 2009 19:25:42 -0500

1st Quarter Market Manhattan Listings - 1st Quarter Market Report Review

Manhattan Listings The 4th Quarter of 2008 saw drastic impacts on the US economy and specifically Manhattan real estate. The 1st Quarter Market Report reveals how the events have created a new landscape and "reset" of apartment prices in Manhattan. A number of highlights from Prudential Douglas Elliman's 1st Quarter Market Overview:

The Manhattan Listings tipping point which occurred last September was largely triggered by the bankruptcy of Lehman Brothers and federal bailouts of AIG, Fannie Mae and Freddie Mac. This marked a sharp contraction of credit, greatly restricting demand as participants had more difficulty obtaining financing. A national recession, rising unemployment and reduced compensation in the financial services sector also played a role in restricting demand.

"There is no denying that a sudden and far reaching impact occurred to the Manhattan real estate market as almost overnight the shift occurred."

The market reset caused sellers to be more than a year behind the current market, still setting list prices in relation to the last high mark in their respective buildings.

"Sellers who have bought in the last two to three years have been attached to higher Manhattan listing prices because they typically have less equity to work with to sell the property without taking any loss."

The result is an expansion of Manhattan Listings inventory, listing discount and days on market metrics. However, by the end of the first quarter there was a noticeable up tick in contract activity and attendance at open houses.

"We see a lot of interest in our well priced studio and one bedroom Manhattan listings. First time buyers who have just recently been priced back into the market now see the potential opportunity to buy for the first time as interest rates are low and pricing is becoming more and more favorable.

Market Metrics that we like to follow:

The number of sales declined 47.6% to 1,195 units from 2,282 units in the prior year quarter and down the same amount from the prior quarter.
Listing inventory increased to 10,445 units, a 34.3% increase from the 1st Quarter of 2008.
Average days on market increased to 170 a 16.5% increase from the 1st Quarter of 2008 and a 7.1% increase from the 4th Quarter of 2008.
Manhattan Listings Discount(from Last List Price) was 12.4%

"The listing Discount from Last List Price is one the market metrics that I give special consideration. I refer to this number as the Negotiability of the unit. Now keep in mind that this number takes into account all types of property(condo, co-op, townhouse) and all price points. Naturally the high end market has been affected far more drastically than the sub-million market. The listing discount shows that there is still considerable disconnect between what buyers are willing to pay for a property and what sellers think their apartment is worth. The average listing discount has been approximately 2% over the past ten years. "

As Manhattan listings inventory rises, the spread between list price and sales price tends to expand as sellers fall behind the declining market when setting their list prices, especially when there is rapid change in market conditions.

Manhattan Listings: Re-Sale versus New Development: It's very important to distinguish pricing trends for re-sale and new developments.

The median sales price of a Manhattan re-sale property- defined as any property not sold in a newly constructed or converted development fell 20.8% to $675,000 from $852,500 in the same period last year.
The median sales price of a new development increased 31.4%. The price negotiated in a new development sale transaction was likely reached 12-18 months ago.

What Does this All Mean for Manhattan Listings?

Buyers- If you are looking for Manhattan listings, we encourage you to first become educated, and speak to a mortgage broker or local bank regarding financing. If you are first time home buyer, please read our first time buyer series outlining the process of buying in Manhattan. One of the questions we hear most is, when is the market going to bottom? We can't tell you, we won't know until we are back on the way up again. What we can say is that we will need to see listing inventory level off, the listing discount come down to historical levels, and the average days on market for Manhattan listings to decrease. There are also a number of macro-economic factors including price vs. rent, affordability indexes to come back in line to the current market conditions.

Sellers- Two most important questions we ask: Why are you selling and when did you buy? You have to have a very important reason to sell in this market. We are seeing some apartments trade for prices that we have not seen since 2005.

Ultimately, what's your motivation? Do you really need to sell or would it be nice to sell if you could get a certain price? In order to have a successful sale being market educated and to understand what it will take to actually sell will be the keys to your success.

We are Real Estate agents under one of the most successful Manhattan Brokerage firm Prudential Douglas Elliman with extensive Manhattan Condo and Co-Op market knowledge. In addition, we have the confidence and success in selling all of our exclusive properties.

If you are a Manhattan Condo owner that is unsure how to price your condo properly, call us today at (917)837-8869 or email us at Ehsu(at sign)elliman.com for a confidential conversation. We will be able to discuss your specific needs, open and clear solution to help you achieve your Real Estate goals.

*Manhattan Listings - was first published on www.Manhattan-Condo-Living.com*

Dorchester Towers Condominium Market Report

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Sun, 29 Mar 2009 16:07:05 -0500

Dorchester Market Report-February Dorchester Towers Condominium

Dorchester Towers Condomonium Market Report

Dorchester Towers currently has 3 apartments on the market for sale. Their is a mix of apartments available. There is one alcove studio, a junior one bedroom and a two bedroom available. Prices range from $600,000 - $1,300,000. For such a large building, approximately 340 individual owned apartments, only three units make up approximately 1%. Typically in a market like ours we see 5-15% of the units for sale in any given building.

As a resident of Dorchester Towers Condominium, we keep track of the sales and pricing activity very diligently. If you are thinking of selling your Dorchester Towers Condominium apartment you want to have the most up-to-date information of recent building sales and overall market trends. In today's market in-contract pricing is the most relevant useful information. Closed sales are too lagging, properties that have closed within the past month probably went in contract 3-4 months ago, if its new development that number could be 6-12 months ago. The buyers that will be looking at your apartment will be using today's news reports, today's market evaluations, to help them make a decision on the pricing they are willing to bid at.

Here are two of the most useful statistics:

The Negotiability Factor or the % Discount from Last Asking Price:

The Negotiability Factor has to be looked at within the right context. This is a number that a seller is willing to negotiate from their last asking price. 9.5% represents all price ranges of property that went into contract, so if you are looking at 2 million + properties or 350k studios your reality will be quite different. We see a lot of buyers put in bids for a property 20-30% below the current asking. These offers for price points below $1,000,000 are not really going anywhere. The sellers that we are working with just are not negotiating with those type of offers. The fact that the % discount from last asking price to the in-contract price is about 9-10% seems realistic to the transactions that we are doing at this time.

The % Discount from Original Ask to Last Asking Price:

The % Discount from Original Ask to Last Asking Price is the amount a property has been discounted in order to get an offer on a property. I do not feel that the amount to discount is a cut and dry figure. It will depend on the original ask and how realistic that number was to begin with. If a property has been on the market for 6 months and has not had any offers and was priced 10% high to begin with, then dicounting by 8% will probably not do much to increase traffic. A property like that might take a signficiant price decrease depending on the price point it falls in. If a property was priced extremely competitively a month ago, but has not received an accepted offer yet, than decreasing in the neighborhood of 5-10% will probably give that apartment a lot more interest and traction. It will really depend on whats the competition and what property is going in-contract for within that building, neighborhood, and price range.

Conclusions:

Having up-to-date market information will give you the edge when it is time to negotiate
If you are a seller, and if you really want to sell, in-contract sales data is the most realistic information. Closed sales data is lagging.
Having a comprehensive understanding of the price point and sub

To Read More on Dorchester Towers Real Estate Click below links:

For a complete list of the current apartments for sale at the Dorchester Towers Condominium or for condominium apartments for sale in the Upper West Side call Morgan Evans or Eileen Hsu at (212)321-7122 for further details.

*If you are thinking of selling your Dorchester Tower Apartment (155 West 68th Street)*

**We are in a competitive market, hence working with two agents that live in the building and that specialize in condominium sales will you give you an advantage when it comes time to sell or rent your apartment. Our approach to selling your apartment is intentionally unique. We use strategies that most real estate agents do not use. If you are interested in hearing our proposition, contact us immediately to see how we can help you achieve your goals.**

Copyright © 2009 By Morgan Evans, All Rights Reserved.*Dorchester Towers Condominium (155 West 68th St) Market Report*

Renting in New York City: Landlords Fighting Back

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Fri, 20 Feb 2009 14:04:30 -0600

New York City Rental Market:

Renting an apartment in New York City is not an easy task. My first time renters always have a hard time understanding why they have to provide so much information just to rent an apartment. A typical rental application requires an employment letter on company letterhead, a couple months of bank statements, credit report, and more.

The prospective renter has usually been able to go on various websites and read reviews of the building's management. From my experience, it only takes one upset person to write a number of terrible reviews about whatever qualm they have or had with that building. Now it appears that the landlords have a website to check the backgrounds of their prospective tentants, www.DoNotRentTo.com. The website will provide information concerning:

Late payments
Non-payment of Rent
Theft
Refusal to vacate premises
Or, other issues the landlord had with the tenant

"This site is driven by landlords supplying information regarding their experiences with tenants."

That is the most interesting part of this site to me, I would assume a thorough credit and background check would find any evictions, criminal misconduct, history of poor credit, but it would be the specific comments that would make things interesting. Is there a difference between a tenant saying that the building's super and doorman are lazy and a landlord saying that a particular tenant will complain about their neighbors and that their dog barks all day long while they are away at work?

To Read More on renting Manhattan New York city Real Estate Click below links:

*If you are interested in renting an apartment in New York City click here*

**My exclusive Dorchester Towers Condominium at 155 W 68th St Rental Report**

***Manhattan Rental Market 2008 Year in Review***

If you are thinking of buying or renting in Manhattan New York. Contact us today at (917) 837-8869 to help you find a building that fits all of your needs.