Friday, September 15, 2017

How to find an apartment in NYC: a beginner’s guide

From where to look to what to bring, we’ve got you covered

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How to research a New York apartment building before you move in
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Tuesday, August 1, 2017


Relax Your Stress Away! 11 Ways To De-Stress

Relax Your Stress Away 

11 Ways to De-Stress 

Your shoulders are tense, your back hurts, you feel grouchy and know it’s due to stress. The relaxation techniques described below can help relieve both the physical and emotional tension that often follows stressful situations.

Relax Your Body 

The next time you feel the effects of too much stress, try some of the following ways to help you relax.

1. Deep breathing.
While sitting, lying down or standing, close your eyes and breathe in slowly. Let the breath out for a count of 5–10 seconds. Perform ten of these super-relaxers any time you feel tense.

2. Stretching.
Practice simple stretches such as the “neck stretch” – gently roll your head in a half circle, starting at one side, then dropping your chin to your chest, then to the other side.

3. Exercise.
All kinds of physical activity – hiking, running, bowling, walking, etc. – help to reduce stress.

4. Take a bath.
Ask household members to allow you at least 30 minutes of uninterrupted time in the tub.

5. Get a massage.
A massage is a wonderful way to get rid of physical tension. Professional masseuses generally take 30 minutes to an hour to perform a massage, and will work on specific areas of tension, such as the lower back or neck.

6. Eat well.
Reduce your caffeine (found in foods such as coffee, black tea and chocolate) and alcohol intake. Find out if your diet is well balanced and take steps to eat healthily to help reduce stress.


Relax Your Emotions 

Relaxing your emotions can be just as important as relaxing your body in relieving stress.

7. Talk.
Take the time to talk with a friend, mate or child. Express feelings you might have been holding in. Listen carefully to your partner. Walking in a quiet neighborhood or park can limit distractions.

8. Laugh.
Go to a comedy club, see a funny movie or spend time with a funny friend.

9. Cry.
Crying can be as good a release as laughing. If you haven’t cried in a long time, try listening to sad music, watching a sad movie or writing about a sad experience.

10. Read.
A good book is a great escape. Reading a tearjerker or comedy can help release pent-up emotions.

11. Do something you love.
When you enjoy yourself, whether it’s gardening, going to the beach, or seeing friends, you relax your emotions.


Tuesday, January 10, 2017

2016 New York Q4 Rutenberg Market Report

Fourth Quarter Market Report – 2016
Despite a 13% decline in the number of sales, the average Manhattan apartment price reached a record $2,110,556 in the fourth quarter. This figure was 9% higher than a year ago, and up slightly from the previous record set in 2016’s first quarter. The median apartment price of $1,075,000 was down 4% from 2015’s fourth quarter.
Cooperative Average Sales Price
Cooperative apartment prices averaged $1,242,916, a 3% decline over the past year. Only studio co-ops posted a higher average price than in the fourth quarter of 2015.
Condominium Average Sales Price
New developments continued to push condo prices to record highs in the fourth quarter. At $3,143,441, the average condo price was 22% higher than a year ago, and marked the second straight quarter this figure was over $3 million.
  • Three-bedroom and larger condo prices averaged 27% more than a year ago, the biggest gain of any size category

New Developments - Average and Median Sales Price
The average new development price rose 51% over the past year, to a record $4,709,602. This marked the fourth consecutive month the average new development price set a record. Additionally, new development inventory jumped 33.7% to 1,047.
  • Nine of the top 10 most expensive sales in the fourth quarter were in new developments, with six of those closings at 432 Park Avenue. However, these closings are not representative of the current market, as the average contract for new developments closed in the fourth quarter was signed a year ago.
  • The surge in new-development sales in Manhattan, which began in the second half of 2015, is already easing and is likely to slow further in the first half of 2017.

Resale Coops and Condos
Median sales price for re-sales reflected 83.3% of all closings, and declined 6.3% year over year to $900,000, the second and largest such decline of the past four years. Overall listing inventory rose 6.9% to 5,393 from the year ago quarter.
Apartments sold during the fourth quarter spent an average of 88 days on the market, 10% longer than a year ago. Sellers received 98.0% of their last asking price, down from 98.7% in the fourth quarter of 2015. Resale inventory edged up 1.9% to 4,346 year over year.
  • Co-op sales were down 12.3% through Dec. 19. The median price was up 5.4% to $775,000 compared with 2015, but was down 3% since the third quarter.
  • Resales of older condominiums were down 7.6%, while the median price fell by 1.6% compared with 2015. Overall sales declined 6.1%.

Luxury Market
In all, there were fewer contracts signed on co-ops listed for $4 million or more in the fourth quarter of 2016 than in any fourth quarter in the last five years.
As a result, inventory of unsold co-ops is piling up, and they are taking longer to sell. Total inventories jumped 20% in the fourth quarter compared with the same quarter in 2015. The weakness has led many sellers to cut asking prices by 10% to 15%, brokers said.
  • The median price on larger, more expensive co-ops fell sharply. The median price of three-bedroom co-ops sold in the final three months of 2016 was $2.24 million, down 12% from the same period in 2015.
  • Sale prices of co-ops with four or more bedrooms were down 13% to $4.81 million in the fourth quarter of 2016 from the same quarter in 2015. By contrast, the median price of condominiums with four or more bedrooms was up 24% to $8.3 million during the same period

Sources:

Manhattan’s 2016 Narrative – 5 Main Themes to Know

Manhattan’s 2016 Narrative – 5 Main Themes to Know

2016, the year of normalization… After five straight years of progressive reflation in Manhattan residential real estate (2010-2015), buyers finally saw the leverage pendulum swing their way. Of course, just how much leverage a buyer gained still heavily depends on the price point. What’s happening at the high end is drastically different than what’s happening at the lower end. Lets discuss before the firms Q4 market reports are released.
Here are the 5 themes you need to know about Manhattan’s 2016: