January, 2010 Archive
El Bulli to close
According to BBC world news Ferran Adria is closing his ground breaking El Bulli. You may have never had the opportunity to dine at this restaurant, or even heard of it for that matter. However it is guaranteed that you have eaten food influenced by Adria’s culinary artistry.
Fashion meets Architecture
Fashion designers are influenced by many things such as current events, travel and the world around them. I thought it might be fun to match fashion with iconic buildings. So here goes.
Balenciaga and Gehry’s IAC building
Givenchy and Gehry’s Walt Disney Concert Hall
Victor and Rolf and The Pierre
What do you think?
Whats up with the market?
Is it so wrong to be a real estate broker who is tired of looking at Market Reports? Personally they give me a headache, and no matter how many charts I look at from Jonathan Miller I still need someone to explain them to me repeatedly.
After reading reports Prudential Douglas Elliman, Corcoran, Brown Harris Stevens, and Core Group along with commentary from Crain’s, The New York Times, and The Real Deal; I began to long for simpler times when we sold homes not ‘investment vechicles’. In the end this is what I took away.
Positive
- Transaction levels back to normal by end of year.
- Condominium sales are starting to out number co-ops again.
- Median price stable at $810,000 over the past five quarters.
- Inventory down 25% since this time last year
- Up to 4000 pending deals set to close first quarter 2010
Negative
- Average price per square foot same as the fourth quarter of 2006.
- Biggest % price decrease, was for larger lofts over 2500sq.ft. dropping 41% since last year, re-inforcing a trend that room count is more important than size.
Our personal experience of the market at the end of last year was one of many buyers chasing the 30% of apartments that were priced correctly to the market, resulting in multiple bids. This is continuing in January.
Recent contracts and sales signed include.
- Lower Fifth Ave two bedroom pre-war bid up $100,000 above asking after one week on the market.
- In Soho 76 Crosby 2A in contract within a week on the market.
- Lenny Kravitz’s infamous penthouse at 30 Crosby after years.
- High floor facing Central Park asking 14.575m within a month.
- 7 Hubert street, penthouse closed 1/10 for 11.5million.
- 92 Charles in the Village closed 1/23 for 13.5mil.
Even if you are not a buyer or seller at the high end of the market, the fact that so much property is selling at these prices brings a level of confidence back to Manhattan Real Estate. A positive sign for at least the near future. If you want more information you know where to find us.
Organic with Gusto
Its good enough for Matthew Modine and it is the only certified organic restaurant in the city. If we are what we eat, then healthy organic foods are the way to go. So put the cookies down and head to Gusto Organics, for fresh tasty food and a wonderful atmosphere. We highly recommend smoothies.
If you like Matthew you should check out this great New York City movie.
Green Roofs
Green Roofs on the Faroe Islands
When it comes to the environmental issues I always find it funny that our ancestors practiced what we like to preach, unaware they would one day be part of a ‘movement’. In Ireland where I am from, the thatched roof was a most efficient insulator against cold and rain. The use of local water reeds also made the roofs locally sourced and sustainable. Once used by the less well off, they are now distintly upmarket.
Adare village in Ireland where I got married.
A few years ago when we renovated our house in Brooklyn we planned on having a green roof. At the time we were told we had to re-inforce the roof to carry the weight of a garden, so we did. Maybe next Spring we will finally get around to planting. In the meantime we found a company, Alive Structures who have installed roofs all over the area including the one above in Southampton.
Where can we find the most expensive green roof in the city?
That would be this private roof of a very lucky owner at One Jackson Square in the West Village.
Eco Luxury Retreat: Costa Rica
A friend brought this very interesing development in Costa Rica to my attention knowing that I love all things ‘real estate’. Puerta a la Vida will be a one-of-a-kind eco-friendly community with a focus on wellness and appreciation of nature, while offering the highest level of service. Their hope is create a new paradigm in the world of lifestyle driven real estate.
The development will be a showcase for sustainable building practices and innovative green technologies, boasting the highest standards of green master planning, architecture, and construction. The villas will have a water re-use system, and use solar and wind power. The grounds will feature organic landscaping, showcasing the concept of gardening without pesticides. A feature I love is the organic farm where you can have your own veggie garden. A little reminiscent of Marie Antoinette but cool nevertheless..
Who’s reality?
I have to admit that I have an addiction to certain reality TV shows, especially the dysfunctional ones. I don’t know if this is the place to share this as we are supposed to focus on real estate but watching the ‘Jersey Shore’ on MTV reminds me of why I keep going to the Hampton’s every summer. One of my favorite blogs is Scented glossy magazines where I found this gem:
Advice via twitter:
“Jersey Shore is like a pill problem. If you’re into it, fine. But don’t demean yourself by talking about it at work.”
Over at another blog that I read all the time, Decorno this was her latest post.
Happy New Year
In late December we decided to take a much needed break to spend time with our families and to recover from the crazy year that was 2009. My family came from Ireland and Sheena went home to Dubai to be with hers. It is always cool to see New York as a tourist, especially during the Holidays. We saw the classics; The Tree at Rockefeller Center, The Nutcracker, and of course my weird nieces loved the Tim Burton exhibit at MOMA.
The Nutcracker has been performed ever Christmas for the last fifty years and was choreographed by the incredible George Balanchine, Mr. B.
