Wondering where you should spend your real estate dollar in 2013? We asked our agents to pick out the neighborhoods that they felt were going to be hot in the coming year and got a wide range of answers. While our top picks aren’t necessarily hidden gems or NYC bargain neighborhoods (as if!), they are areas where home buyers are likely to see a strong return on their investment while enjoying a high quality of life. Whether it’s ease of commute, great schools, trendy nightlife, fine dining or open space, there’s something for everyone in our list of top NYC neighborhoods for 2013 real estate investment. (more…)
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If you are unfamiliar with the New York City housing market, closing on an apartment can be an intimidating process. However, a little bit of preparation can go a long way toward making your purchase as simple as possible. Buying real estate need not be a daunting task if you follow these three helpful tips for a stress-free NYC apartment closing.
1. Hire a good attorney.
To make negotiating a contract on an apartment easy in New York, you need a real estate attorney that can take the time to explain to you what is in the contract and how it affects you. This is a legal and binding document so you need to be sure you understand what you’re agreeing to. Try to find an attorney who understands your preferences and communication style, as he will be your primary point of contact during the negotiation process. (more…)
Robert Lenox was an immigrant Scottish merchant, (1759-1839) who owned a large farm on the Upper East Side. When he bequeathed it to his son, James Lenox, his son divided the land into lots and sold them during the 1860s and ’70s. One of the lots on Fifth Avenue was allotted for the The Lenox Library, now known as the Frick Museum, which houses some of the world’s finest art works on the Upper East Side on 70th Street and 5th Avenue, while another lot was donated for the Union Theological Seminary.
Lenox Hill is the area that now ranges from East 72nd Street to East 59th Street. The neighborhood assumed the name after the German Hospital was renamed Lenox Hill Hospital as a way to acknowledge the legacy of the Lenox family and distinguish the area from Murray Hill.
Walter Scott Lenox, on the other hand, was from Trenton, New Jersey. In 1889 he founded Lenox China, a company that would come to elevate ceramic art and porcelain in the U. S. Thanks to Walter, porcelain tableware came to adorn state functions hosted by presidents and diplomats. By 1897, examples of Lenox’s work were included in the Smithsonian Institution and by the early 1900’s, Lenox china became the first American china to be commissioned by President Wilson and the First Lady. Lenox china still exudes quiet elegance and like Lenox Hill, a Zen timelessness that can be appreciated by the trendy and the traditional types that now reside at Lenox Hill.
Image via Edgar Zuniga Jr.
Finding a co-op in Manhattan that you can live with is a lot like dating. First, you look to appearances; is the building attractive, does it offer large living areas, is there lots of light?
If it attracts you with all of its charm, then you zero in on substance. Does it offer security? Commitment? Does it mesh with your long-term goals? How are the financials?
By the time you get to the board package you know it’s serious. All of your financial history is laid out for inspection. Going to the board interview is akin to meeting the family.
A client recently asked me what do the co-op boards ask? The short answer is that the board may just want to verify for themselves that you are who you say you are, and that you’ll be able to get along with the other residents. Questions may be asked to clarify job history or financials. In the case of couples, as with meeting the family, it’s a good idea to establish beforehand who is going to answer which questions. It’s helpful to have one person answer the financial questions and and the other respond to personal questions. This can help avoid awkward moments and ensure that the interview flows and remains social.
Located at 524 East 72 Street, the Belaire is a full service, elevator condominium overlooking the East River on a cul-de-sac in the Lenox Hill area. Neighbors in this highly sought after location include Sotheby’s. The building was built in 1986 and consists of 183 apartments 77 of which are two bedrooms that offer stunning views.
The 50 story Belaire with its red brick façade was designed by Frank Williams and Associates and headed by William Zeckendorf Jr. It is managed by Gumley-Haft and offers a fulltime doorman along with garage, pool and health club. Recent sales of one bedroom apartments begin at $850,000.