"IntelAgent" KVNY "UpTown Cat" Apartments Hunter.

First Steps to Buying a Home: Closing the Deal on a House

2011-12-27T15:25:00.000-08:00

Unless your offer is immediately accepted or you make a low-ball offer that offends the seller, be ready to negotiate prices for your new home. They key factor here is to come to an agreement between the buyer andthe seller; and get through the legal hassle of the whole situation. The first thing to do is to finalize the purchase and sale contract: avoid closing at the end of the month or year, as these are the busiest times for foreclosing a house. Establish a move in date and put the agreement in writing. Be sure to reserve funds to the closing; and be sure to put the money in the right account before the transaction. Also, consider locking your interest rate to protect against interest rate fluxations in the market.

The second step is to look for a company that will research the title and coordinate the closing. This is especially important in a transaction of a home “for sale by owner”, so be sure to get a closing agent to work with a title company to ensure that the home you are buying will officially be yours.

Next, be sure to get an appraisal. This ensures that you are getting enough money to purchase the home for it’s full market value. There are three ways to calculate a home’s market value: the direct sales comparison approach (comparing it to other comparable homes in the area), the cost approach (estimating the land value and how much it would cost to replace the house), and the income approach (used with commercial properties or apartment complexes, this divides the net operating income of the house by the capitalization rate). The appraiser shouldn’t have a connection to the transaction: be sure that he or she doesn’t have a bias.

After that, be sure to get a professional home inspection. Be there during the inspection and feel free to ask questions similar to the following: pests? Allergies in the area? Mold? Plumbing? Electricity?

Be sure to get homeowner’s insurance quote and pay the premium. Shop around for affordable rates and ask yourself these questions: do you need liability coverage? What about your personal property: do you want to insure that as well? Look into different type of insurance: some can cover casualty or hazard insurance, lawsuits resulting from on-property injuries, personal property (“actual cash value” or “replacement cost” options).

Next, consider buying home warranty coverage, where your home is protected from hazard damage, theft, and unexpected repairs/replacement of major systems and appliances. Here's how it works. When a system or appliance breaks down from normal wear and tear, you contact the home warranty company which sends a technician to fix the problem. Items covered include plumbing, electrical systems, air conditioning, furnace, stove/oven, refrigerator, washer/dryer, etc.

Do a last walk- though the house: a couple days before closing, take one last tour of the house to ensure that it is in the condition agreed to by the terms what you expected it to be.

Next, be sure to read each closing document carefully. Requests copies of all of your documents so you can look over them in advance before settling at the closing meeting. The documents consist of a mortgage note, a mortgage/ deed of trust, a HUD settlement statement, a warranty deed, and a commitment for Title transaction. Once all the papers are signed, be to show a receipt that you purchased the home and bring the check of the down payment and the closing costs. Now the home is yours!

First Steps To Buying a Home: Evaluate Your Current Life and Finances

2011-12-27T14:41:00.000-08:00

Although this may seem like a simple question on the surface, there is actually a 10-step process one should partake in before considering shopping for loans or placing an offer.

Step 1 is to compare the processes of renting and buying a home. Compile pros and cons list: which one will (in the end) be more cost effective, convenient, or better for your long-term finances? Take into account your current and future lifestyle.

Step 2 is to create your “ideal” home. What amenities would you like to have in your new home? A backyard? A fireplace? Do you need a lot of square footage in order to live? What about location? Is having your home close to work important? How about shops and restaurants? These are all key questions to ask when making a dream home “wish list”. You will also want to keep this list handy when “shopping” for houses.

Step 3 is to calculate an affordable monthly mortgage payment that you can be “guaranteed” to pay off. Before seeing a lender, calculate your monthly expenses (maybe leave a little “wiggle room”) and subtract that from your monthly after-tax income. That amount is approximately the money you have to spend on your payments every moth. Of course, if you have any outstanding balances or debt, (that is more than 20 percent of you monthly income) be sure to pay it off because mortgage lenders tend to look at the income-to-debt ration. Also, be sure to understand what mortgage payment covers. When you go to see a Mortgage Lender, be sure to read over the paperwork carefully. Keep in mind that your mortgage payment should be no more than 28 percent of your gross monthly income.

Step 4 is to take into account monthly homeowner expenses. The cost of the home is not the only cost. You must take into account several extra fees that can rack up the price of a home quite a bit. The first of which is homeowner’s insurance. Be sure to shop around for the lowest price; you may even find a great deal if you buy a car insurance/ home insurance bundle. Property taxes are the second expense to consider. Some homes charge both city and county taxes, so be sure to inquire about the various fees before incurring an “unexpected” surcharge on your monthly payments. PMI, or Private Mortgage Insurance, occurs when your down payment on a house is less than 20 percent of the mortgage value. This insurance protects the owner from defaulting on the house. Homeowner’s Association Fees are a monthly fee and also another expense to take into account when buying a home. HOA fees can keep increasing per year, (up to four figures per month), so be sure to find out if your state regulates the rate in which these fees increase. A house needs to have maintenance, so be sure to get an estimate on the approximate costs of the utilities per month. This can range from electricity, to installing new appliances, to yard and landscape upkeep.

Step 5. Before placing an offer on a home, be sure to get your credit report and find out ways to improve upon your credit score. To give you an idea as to where you stand in relation to others, a perfect credit score is 850, and the national average is 723. Find a website online that will provide you with a free credit score. If it turns out that you do have a poor credit score, consider improving your score or refinancing before buying a home. It is better to wait and go into buying a home in a better financial position then to not be able to afford the mortgage payment and to have to foreclose upon a home, as that will be a hindrance when trying to buy a home or get loans later in life. To get started on improving your credit core consider the following: pay down bills, make payment on time, don’t max out credit cards, make more than the minimum payment on credits cards each month, don’t open any more accounts, and keep credit card balanced at approximately a third of the credit limit.

Step 6. Do some market research: decide where you want to buy. Do the buyers have the advantage here or the sellers? If there are a lot of unsold homes in the area and prices are beginning to level or drop, then, as a potential homebuyer, you’re in luck. Also consider future mortgage interest rates? Are they looking to incline in the future by a significant amount? Compare and assess these (possible) extra costs with that of your findings with your personal finances.

Step 7: figure out how you will get a down payment and pay the closing cost fees. While the mortgage payments are somewhat manageable for the majority of people looking to buy a home, the issue of the down payment can bring many to a hault in the home-buying process. Lenders would ideally like you to put down 20 percent for a home, but there are mortgage programs available, such as the Federal Housing Administration that require as little as 3 percent. However, the cost of the latter will be significantly higher in the long run, so see about saving up before proceeding with the home buying process.

Step 8. Be sure to start off small and don’t be overly-ambitious when looking to purchase your first home. You can always purchase in an emerging location, or buy a “fixer-upper”. That way, a home that has the potential to be just as great can come at half of the cost. Look for deals in newspapers, local listings, the outskirts of town, or even popular regions. Contact federal or even state agencies as well to see what homes are in revitalization or “empowerment” zones, as those tend to be much more reasonably prices.

Step 9. This next “step” or option for owning a home may be a turn off for most, but it is a very good option: to share the ownership of a home. The advantages of this would be being able to buy a larger home (with more of the desired amenities on your “home wish list”) maybe in a nicer area; and you have the option of living with family or close friends.

Step 10. Lastly, know your rights as a potential homebuyer and a mortgage borrower. Review the policies under the Fair Housing Act: you have the right to buy any home that you can afford in any neighborhood and you have the right to fair lending. On that note, once you secure and settle your matters of finance, you will be ready to move on to the next step in the home buying process.

Purchase Qualities Which often Aren’t available

2011-12-27T11:56:00.000-08:00

A very intense real estate broker, particularly inside a seller’s market, can march up to the entrance of houses and request if they're available. Many will come with an offer ready from the client who loves the home and also the neighborhood.

Let's say the web could do this too? Igloo, a Finnish company, has began something by which people bid online for just about any house, even when they aren’t available. They're informed if this continues purchase, that might happen when the owner sees just how much the marketplace values it at.

Theoretically, it will have the ability to generate an even more accurate reading through of the property’s value than the usual KVNY.com or perhaps a property agent’s comps.

Red fin, the Dallas online broker, states it requested a patent on the similar idea within the U . s . States some time back.

Tamir vidal, Redfin leader, stated around the company’s blog:

Why it appears like advisable for Redfin within the U.S.: it’s distinctively compelling for home-purchasers, addictive for home-proprietors, troublesome for traditional real estate agents, along with a little crazy. We expect the Finns to visit hog-wild with this (if Finns go hog-wild for anything), and think People in america might too.

KVNY "The Downtown Cat": How to Get Started in the Real Estate Investment B...

2011-12-19T10:43:00.000-08:00

KVNY "The Downtown Cat": How to Get Started in the Real Estate Investment B...:

It is important when you are in Real Estate to follow the key concepts before getting started. The first of them is timing: when values are down it is a good time to get into the market.

Another key concept to grasp is location. When talking about location in New York City, look for long-term appreciation in value (look for the indicators that it will appreciate in value). Look for different types of properties. Look for properties with high value or ones that will appreciate quickly. Single-family houses are the most successful in both of these categories because everybody needs to live somewhere, so single-family houses are constantly in demand. Another type of a good investment is commercial and apartment buildings for sale.

Be sure to look for a home with great resale value. The fourth concept is to try and buy a property at the right price.

The fifth thing is the condition, meaning the condition of the property. You want to look for a property with all of its capital investments taken care of, the property that is in excellent condition, so that you don’t have to do maintenance and spend money for repairs.

The sixth point is cash flow. Buy for cash flow now: avoid negative cash flow to avoid losing money month after month.

The last thing to look for is find a property that is easy to manage: find a property manager to take care of the rentals.

If you can get these seven key components mastered when buying a property, you will be sure to be successful in the investment real estate business.

KVNY "The Downtown Cat": Furnished flats used to be generic spaces of last resort. Not anymore.

2011-11-09T14:31:00.000-08:00

KVNY "The Downtown Cat": Furnished flats used to be generic spaces of last resort. Not anymore:

The financial climate has buyers skittish and banks reluctant to lend, and that’s largely why the rental market has come alive this year. Vacancies are down to less than 1 percent throughout the city. Within that market, there’s a noticeably intense niche, and one that’s growing: furnished rentals. Bond New York’s Doreen Fuentes, who has specialized in turnkey rentals for six years, says out of 50 deals she’s done in the past few months, 15 of them have been furnished—far more than usual. Brown Harris Stevens’s Lynda Wiggins says weekly calls about high-end furnished rentals have doubled in the past six months.

What’s more, their clients aren’t looking for a generic midtown crash pad. The new renters are insisting on residential neighborhoods like the Upper West Side, the Upper East Side, and the Village. They’re not content with space that looks like a hotel room. “They’re specifically saying they want someone’s home,” says Wiggins—and, she and her colleagues add, they’re willing to pay for the privilege. “In general, anything that rents for less than a year and is furnished will come at a premium—at least double,” says Jeff Schleider, managing director of Miron Properties. A Murray Hill one-bedroom with a roof deck, for instance, is asking $5,000 a month; unfurnished counterparts are more like $3,000.

Why the premium? Many of the takers are newcomers on temporary assignment—there are more of those lately, as people who are out of work take what they can get—and they’ll pay extra just to avoid committing to a full-year lease until their firms commit to them permanently. Some, like a museum executive from Seattle who’s working with agent Robert Varvara, expect to buy but want to take their time and know they can afford to, given the stagnant sales market. (The agent says that clients like these prefer not to spend money on furniture for an apartment they expect to leave soon.) Others go the furnished route simply because it’s an easier, faster way to secure an address: Because these apartments are geared toward short-termers, their landlords tend to require less financial documentation and less money in the bank. (Co-ops are the exceptions; many insist on board approval no matter how short or long the stay.)

The market is responding. The number of furnished rentals reached a peak this past quarter, with 1,890 listings in Manhattan alone. (In the same period of 2008, there were 827.) Fuentes says one landlord has reworked all twenty units of one of his walk-ups into furnished rentals. He fully expects to see a return on the investment he made, which included freshening up the building and setting up Wi-Fi and a cleaning service.

One-off landlords—pied-à-terre owners and small-scale real-estate investors, not corporate-housing moguls—are capitalizing on the trend, too. In fact, 72 percent of the furnished-rental inventory last quarter was in co-ops, condos, and townhouses, per Streeteasy. Fuentes has one client who lost his job and is leasing out his $1.4 million Chelsea two-bedroom and moving to a studio. “It’s going to help him coast through a difficult time,” she explains. Varvara says one of his sellers just decided to put his for-sale studio up for lease—even though he’ll have to prep it, replacing a television and reinstating the cable, as features like these are typically included—because the rent will more than cover his mortgage and maintenance while he waits for the market to bounce back. And why not? “You have a lot who bought at the peak, and because prices dropped below or at what they paid, they can’t afford to sell,” says Streeteasy’s Sofia Song. As long as rents stay high, “this is buying them time.”

For those who aren’t waiting out the sales market, fully furnished apartments are proliferating there, too. Available inventory in 2011 has increased fivefold since 2008—and the year’s not over yet. That’s because design-savvy and décor-proud owners are now offering the whole package, as a way to stand out in the sea of listings. Buyers don’t often bite, says Schleider, “but the sales market is still struggling, and people are seeking an edge.”

Big price cuts lead to big sales in Harlem | The Real Deal | New York Real Estate News

2011-11-07T09:22:00.000-08:00

Big price cuts lead to big sales in Harlem | The Real Deal | New York Real Estate News

From top: The Douglass, Windows on 123, the Livmor and Parc Standard

Last year real estate insiders and prospective homebuyers worried about the glut of new development inventory in Harlem. But that's no longer the case, thanks largely to price cuts on the units in those buildings, some of which are selling for less than $500 per square foot.

Many buildings introduced to the market in the last year are now mostly filled. The 72-unit Livmor, the 28-unit Parc Standard and the 38-unit Douglass, all on Frederick Douglass Boulevard, are sold out. Meanwhile, introduced this summer, the 73-unit co-op 88 Morningside is 71 percent sold, the 86-unit Gateway is 90 percent sold and Windows on 123 is on its second phase of sales.

In fact, 150 units were sold in Central and East Harlem in the third quarter of this year, the Post said. It's the fifth consecutive quarter with more than 100 sales and the best quarter on record save the third quarter of 2007 when 160 units sold.

"This quarter there was a pop," said Jonathan Miller, president of Miller Samuel and the preparer of New York City market reports. "[Sales] levels have been higher than pre-Lehman levels."

The catch though, is that prices are far lower than pre-Lehman levels. The Post said the average price of a Harlem co-op or condo was $582 per square-foot in the third quarter of 2011 compared to the $836 average price per square foot recorded in the area in 2007.

Priciest, cheapest units to hit the market | The Real Deal | New York Real Estate News

2011-11-07T08:45:00.000-08:00

Priciest, cheapest units to hit the market | The Real Deal | New York Real Estate News

From top: The priciest listing at 100 Eleventh Avenue and the cheapest at 1919 Madison Avenue

The priciest Manhattan listing to hit the market this week is a 9,493-square-foot penthouse apartment at 100 Eleventh Avenue, asking $38.9 million. The condominium unit, which is at the Jean Nouvel-designed Chelsea Nouvel building, features eight bedrooms and seven bathrooms and is listed with Holly Parker and Trisha Reidel of Prudential Douglas Elliman.

The second most expensive listing to come online this week is an historic Lenox Hill townhouse, designed by architect Paul Rudolph. The four-bedroom, four-and-a-half-bathroom property at 101 East 63rd Street has a 1,600-square-foot terrace and is listed with Noble Black, Carmen Marques Perez and Bonnie Pfeifer Evans of the Corcoran Group for $38.5 million.

The third priciest listing is a four-bedroom, 6,000-square-foot condominium unit at a prewar building at 20 East 65th Street, which is on the National Register of Historic Places. The 25-foot-wide residence features a private elevator and four wood-burning fireplaces. It is listed with Nikki Field and Helen Marcos of Sotheby's International Realty for $17.5 million.

The least expensive Manhattan listing to hit the market this week is a one-bedroom co-op unit at 1919 Madison Avenue in Central Harlem. The apartment, the sale of which is restricted to buyers with an income of less than $92,160, is listed with Joe Davila and Norma Maupins of Fenwick Keats Real Estate for $160,000.

The second cheapest listing is a 350-square-foot, one-bedroom co-op unit at 875 West 181st Street in Hudson Heights. It's listed with Susanna Saarinen of Access Property Group for $189,000.

The third cheapest listing is a one-bedroom, Upper West Side co-op unit at 375 Riverside Drive. The apartment, which requires a gut renovation, is listed by Weichert Realtors for $190,000.

KVNY is on the hunt again

2011-10-30T06:34:00.000-07:00

KVNYCommercial has just wrapped up a smooth and FAST sale of the building in the rapidly developing Central Harlem. 79 West 127^th Street represents a very attractive redevelopment opportunity in Northern Manhattan. World renowned chef Marcus Samuelsson’s new restaurant Red Rooster and long time neighborhood icon Sylvia's draw customers from around the world and are just some examples of the areas vibrant and exciting resurgence. This building was brand new to the market got sold for $1.6 million in mere 3 weeks! That’s the way KVNYCommercial closes its deals – easy and fast, with an extensive knowledge of the city’s inventory and a great understanding of the investor’s needs.

We are please to announce that KVNY Residential has just obtained a thrilling 3 bedroom / 4.5 bathrooms exclusive for rent in Tribeca, 137 Duane Street. This 5500 SF fully renovated loft goes for $17,500. 2004 Condo Loft conversion features 50’x50’ huge living room space with decorative columns and 14ft ceiling. As a unique 1860's Loft it has an unbelievably beautiful wall of arched windows facing Thomas Street. Besides the living space the loft has three huge bedrooms, each with a bathroom and a walk-in closet, a family room and a playroom. The dining room and the open chef's kitchen with 2 dishwashers is a dream come true. Exclusive by KVNY agent: Julie Bohush.

KVNY boasts another luxury rental exclusive. Situated in the heart of Chelsea in a recently renovated 24 hour doorman building, this 4035 SF condo offers great Southern light exposure via expansive windows and a PRIVATE TERRACE with a view into a very quiet, park-like setting. This 4 BEDROOM, 4.5 BATH home features 14ft ceilings, two living rooms, two laundry rooms with Bosch washer & dryers, two separate entrances to the apartment, and many architectural features that distinguish it as one of Chelsea's finer homes. One living room features an enormous drop-down screen with projection viewing for television and movies, and the 40 speakers embedded in the ceilings throughout the home provide separate zones or continuous playback for exquisite sound. A separate media closet features a floor-to-ceiling computer/media rack that safely stores the technology out of view. The other living room features floor-to-ceiling windows that open out onto the private terrace, and a theatrical curtain that hangs between it and open-space flex room which can be used as another bedroom or other purpose. As for storage, abundant closet space exists throughout the apartment, including the guest bedrooms, of which three feature walk-in closets. All bedrooms feature private bathrooms (3 of which feature both separate tubs and showers). The building features a private gym with adjoining children play area, a bike room, a lounge, and private storage is also provided in the basement for this unit. Exclusive by KVNY agents: Brian Cerilo, Julie Bohush.

Steakhouse to open three Manhattan locations | The Real Deal | New York Real Estate News

2011-10-11T05:57:00.000-07:00

Steakhouse to open three Manhattan locations

October 10, 2011 11:00AM

Jonathan Segal, founder of the One Group, and at STK steakhouse

Hospitality company the One Group, famous for its STK steakhouse brand, is planning to open three Manhattan locations within a year, the New York Post reported, as part of a larger plan to open six nationally. Steakhouse to open three Manhattan locations | The Real Deal | New York Real Estate News

Brooke Astor apartment sells at 50 percent off | The Real Deal | New York Real Estate News

2011-10-11T05:55:00.000-07:00

The late Brooke Astor's apartment at 778 Park Avenue has been sold for $21 million, about 50 percent less than its original 2008 asking price of $46 million, the New York Post reported. The buyer is an unnamed New York-based businessman.

Brooke Astor apartment sells at 50 percent off | The Real Deal | New York Real Estate News

Illegal sublets prove profitable for struggling New Yorkers | The Real Deal | New York Real Estate News

2011-10-11T05:54:00.000-07:00

October 10, 2011 12:00PM

More than 1,500 New Yorkers are raking in as much as $10,000 a month by illegally subletting their rental apartments, the New York Post reported, as many struggle to find their financial footing in the wake of the recession.

Illegal sublets prove profitable for struggling New Yorkers | The Real Deal | New York Real Estate News

Silverstone drops $5.5M on Noho apartment building | The Real Deal | New York Real Estate News

2011-06-23T04:27:00.000-07:00

Silverstone drops $5.5M on Noho apartment building | The Real Deal | New York Real Estate News

Lehman Brothers shifts tactics, considers new Soho development | The Real Deal | New York Real Estate News

2011-06-23T04:26:00.001-07:00

Lehman Brothers shifts tactics, considers new Soho development | The Real Deal | New York Real Estate News

New York market not yet overheated: panel | The Real Deal | New York Real Estate News

2011-06-23T04:26:00.000-07:00

New York market not yet overheated: panel | The Real Deal | New York Real Estate News

Strauss-Kahn has been bouncing around residences

2011-06-03T05:14:00.000-07:00

Former French Finance Minister Dominique Strauss-Kahn has been bouncing around residences since he was first released from Rikers Island on $1 million bail. Now it seems he's finally settled in a three-story, 6,800-square-foot palace at 153 Franklin Street, between Varick and Hudson streets, in Tribeca. Kahn moved into the $14 million home this week and enjoyed $200 steaks from Tribeca eatery Landmarc with his wife, journalist Anne Sinclair

Landlords' Counter-Intuititve Ad Campaign: Rent Regs Are for Rich People!

2011-05-25T04:38:00.000-07:00

Now that Governor Cuomo is throwing his weight behind strengthening rent regulation in the state—after a seeming term of ambivalence—the Rent Stabilization Association is out with a new batch of ads explaining how rent regs, at least under the current legislation, only benefit wealthy Manhattanites. Azi over at our sister site PolitickerNY got his hands on the four ads, which just began airing on local radio.

We've posted one above, since they're all basically the same variation on a theme: have an outer-borough landlord talk about a Daily News article and Citizens Budget Commission study that shows only Manhattanites making six-figure salaries stand to benefit from the changes; followed by a plug for the affordable units they own outside "the City," be it 43 in Flatbush or six in Crown Heights; then exclaim how tougher regulations will make it tougher to run these buildings. The transcript to all four spots are on PolitickerNY.

$8.5 M. Loan in Nolita, UWS

2011-05-25T04:34:00.000-07:00

Winter & Company has closed a loan for a portfolio of Manhattan properties, including assets on the Upper West Side and Nolita, brokers said. The non-recourse, $8.5 million loan provided refinancing for three buildings on the Upper West Side—two multifamily properties and one mixed-use asset—and one cash-flowing residential condo being held for investment in trendy Nolita.
The loan carries a rate of 5.25 percent at a 10-year, fixed rate.
The company declined to give precise addresses of the buildings in the portfolio.

This UES Apartment Feels Like a Forest on Fifth Avenue

2011-05-20T04:32:00.000-07:00

Just yesterday we showed you an apartment on the Upper East Side that made the questionable decorative decision of walls painted with images of the countryside. Well, if you hated that one you're going to be sickened by this apartment. Conversely if you thought the paintings were nice, well, get ready to fall in love. This apartment at 825 Fifth Avenue just hit the market and it looks like an enchanted forest with both its real and painted trees. This one is a lot costlier than yesterday's, asking $14,000,000 for its two bedrooms. It's a steep price, but such is the cost of life at 825 Fifth Avenue. And that terrace shot speaks for itself.
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Rendering/Reality: 535 West End's Homage to Happier Times

2011-05-20T04:28:00.000-07:00

On the new development beat, Upper West Side edition: 535 West End, situated at West 86th Street, has been billing its massive full-floor units as "21st century pre-war residences" for awhile now. (It was a Development du Jour back in the heady days of spring 2008.) No need to mince words: the building is solid, complementing its neighbors well and somehow managing to capture some rays of the glory days of pre-war. In this economy, developer Extell has taken a gamble by dividing it into only 22 units.

Construction Watch: The Aldyn Growing on UWS

2011-05-20T04:25:00.000-07:00

Extell's latest immense Upper West Side development marches southward! AtRiverside South—a plot of land at Riverside and the lower West 60s that already features new developments The Avery and The Rushmore—there's now about nine months of growth on the latest addition to this skyline-altering portfolio, The Aldyn. This 38-story condo tower, which will feature 279 units, sits next to The Rushmore. When Curbed operatives recently dropped by, construction workers were observed—yes!—glassing the place up. While there's still no website or juicy rumors, The Aldyn looks on track to open its doors in the first half of 2010. While we wait, anyone got final renderings of this project they want to kick our way?

Clinton Hill condo-to-rental complete after $21M sa

2011-05-15T05:58:00.000-07:00

163 Washington Ave.

The long-rumored sale of GLC Group's 16-story condominium building in Clinton Hill has closed, as a real estate investment group from New York City and Northern California doled out $21 million for the Karl Fischer-designed tower, the Wall Street Journal reported. Rumors of a potential sale surfaced in March, when 35 to 40 percent of the 49 units at 163 Washington Avenue were in contract to be sold for between $250,000 and $767,000. But GLC Group, which purchased the site in 2005, returned buyers' contracts and entered into an agreement with the investment group, which planned to rent the units.

Just Closed :)

2011-05-06T05:05:00.000-07:00

KVNY's New Uptown Cat Has the Coolest Real Estate Listings in New York

2011-05-05T06:03:00.000-07:00

NEW YORK, NY--(Kvny new's - May 5, 2011) - Meet 'Intelli Agent' she has the smartest real estate listings in New York. She is located at KVNY and she is on the prowl for the best apartments. The best listings are always up her alley.

Our brokers purrrrrr with excitement when she delivers her listings so they can do some real 'COOL' hunting. The other cats uptown can't come close because her exclusive listings are one of a kind. She has the inside track with some of the best landlords and management companies on the uptown scene.

The latest sale is a real smooth deal closing at $1,725,000.00 by Alex Mikhailuk at KVNY, Inc Realty at the Rushmore at 80 Riverside apartment 5-S 2 bedrooms, 2 bathrooms with Maintenance and Common Charges Cc's $1069 / RE Tax with 421A $46 / RE Tax without 421A $1068. The building has everything a pool, lounge and it's brand new. Hey a real smooth deal. 'Meow.'