Why The Value of Outdoor Spaces Has Increased by 20%

Caroline Fiske

According to Barbara Fox who is the President and founder of the “Fox Residential Group,” outdoor spaces have become more and more desirable since the coronavirus pandemic. Fox also said that “Manhattan residents have appreciated the freedom that private outdoor spaces have provided during the lockdown, and the increased valuation is reflective of that. It has been historically priced at about 25-30 percent of the interior square footage, but we are now seeing valuations of approximately 40-50 percent.”

According to StreetEasy, searches for New York City rentals with outdoor space are up 270% since before the pandemic started. Additionally, apartments with terraces in Manhattan are selling for 5.4% more per square foot than those sold this year before the pandemic lockdown, according to data from appraiser Miller Samuel Inc. 

Residents in Manhattan have appreciated the freedom that private outdoor spaces have provided during the quarantine. They give the ability to just take a breath of fresh air, as an auxiliary workspace, al fresco dining, exercise or just to relax outside of the confines of their apartment. For example, in the past thirty days prices have dropped on at least five hundred and eighty-five properties that include outdoor spaces, they represent 20% of the total.

130 East End Avenue

A $7,995,000 triple mint co-op property with a fancy wrap-around terrace with gorgeous views of the East River. This home is grabbing the attention of many house buyers and it is retaining its asking price.

515 West 52nd Street

Apartments with picturesque balconies that range from $2,369 to $9,615. Featuring one and two-bedroom apartments, this property is also pet friendly, including WiFi, two fitness centers, on-site washers/dryers, spacious floorplans, and best of all, outstanding views of Midtown Manhattan and the Hudson River.

Charlie West, 505 West 43rd Street, #PHG

Penthouse G is an impeccably designed and expansive 2,120 square foot 3 bedroom, 3 bath home with an amazing 746 square foot private terrace. Charlie West is a 16-story new development condominium that provides residents with an elevated, boutique lifestyle across 2 separate towers with only 5 units per floor and an exceptional amenity package. Beyond incredible price points, these luxurious residences boast efficient layouts, amazing natural light from floor-to-ceiling windows, high-end finishes, and private outdoor spaces complementing many.

45 East 7th Street, Residence 6C

Residence 6C is an incredibly bright, one of a kind, corner exposure 3-bed, 3-bath home with its own 157 SF private terrace. The home features amazing natural light from the South and East, perfect proportions, and the most ideal layout with 9’ living room ceilings and oversized, 7’ European designer windows. 45 East 7th Street is a landmarked new development building designed by Morris Adjmi featuring an exclusive collection of 21 luxurious residences, located at the center of Astor Place, the Village and Noho. 

63 Wall Street

Located in the Financial District of New York City, with apartments containing multiple roomy balconies for everyone to enjoy. These apartments are the perfect combination of classic and modern. It is in a very well-known historical location in the city and it will give you the ultimate luxurious outdoor life.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Morris Adjmi-Designed Luxury Condominium Landmark – No. 45e7 – Hits the Market

Last week  the official launch of sales for No45e7, Nexus Development's new, Morris Adjmi-designed luxury condominium that hit the market today. While many developers may be hesitant to launch during the current pandemic, Nexus Development is confident of the market recovery and that their product offers the exact level of safety, space and comfort to give buyers confidence in a post-COVID world. 

. The boutique condominium offers 21 studio to three-bedroom residences in the most desirable downtown location – at the nexus of Astor Place, Noho and the East Village.

“45 East 7th Street offers a unique and ideal product, featuring efficient layouts, a range of home sizes and at the best price point the city currently has to offer, said Sahar Ziv of the Tavivian Team from Douglas Elliman. “In contrast to the larger high-rises with hundreds of units and shared amenity spaces, this boutique building features an oasis of privacy and peace of mind, with each home offering private outdoor terraces with open, expansive city views.”

For its façade, Adjmi channels historical architectural elements with contemporary influences to honor the building’s context and history. Residences feature European-engineered oversized windows, 9” wide custom-stained white oak flooring, high-efficiency central VRF heating and cooling and Bosch washer and dryers. Each residence is pre-wired for smart home features including shades, lighting, sound and intercom.

“Our goal with 45 East 7th Street was to capture the essence of the neighborhood by reimagining architectural details, such as brick patterning and coursing, to honor the landmark’s location,” said Morris Adjmi, Founder of Morris Adjmi Architects.

No45e7 boasts an array of curated amenities including an attended lobby with Atlas Grey limestone floors, common landscaped roof terrace with panoramic city views, light-filled state-of-the-art fitness center, landscaped garden terrace, residents’ laundry room, private storage rooms and bicycle storage. Intuitive and accessible smart home technology gives the owner automated control of essential home features. Shades and lighting can be operated using the Pico control or remotely with the Lutron app on a mobile device. Carson, the virtual doorman, tracks deliveries, service requests, intercom calls, and visitors while providing live HD video of each entry and a seamless payment system to compliment the staffed doorman, all through an app.

Prices will range from approximately $1.35 million for one-bedroom, $1.995 million to $4 million for two- and three-bedrooms, going up to $8.3 million for the penthouse. Sahar Ziv and The Tavivian Team from Douglas Elliman are on board as the exclusive sales and marketing agent for the building. For more information, please visit https://www.45e7.com

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

5 New Kitchen Renovations for Your NYC Condo

You can create a luxurious space that you deserve in your NYC Condo with different renovation ideas. Depending on the layout  and housing type that you find yourself in, kitchens can sometimes be smaller in large metropolitan areas like New York City. Regardless of the size, or area that you live in, you can make the most of this space and enhance your kitchen design for you and your family to enjoy. Dive into these five new kitchen renovations and create your vision of the perfect kitchen. 

Add Color to Your Kitchen

When it comes to brightening up a kitchen, a question typically arises: should I select an all-white kitchen or a colorful kitchen. A kitchen is such an important space within a home - many consider it the heart of a home. Many people typically start their day in the kitchen. If you have an all-white kitchen, everything looks fresh and clean, energized by the strong white ora. In an all-white kitchen, you can also have more fun with the countertops and backsplash to increase the visual appeal. Counters made from limestone, for example, can add natural warmth and texture to any room, breaking up the monotony of white while maintaining a clean, elegant appearance. Many people get tired of having only white in the kitchen. Not to mention, if you are a frequent cook, whites can easily stain. If you want to energize your kitchen without white, the right shade of gray will do it. It also pairs with other colors naturally. You can also use dark blues, yellows, greens, or colors that pop like red. Don’t be afraid to go extra, and mix different colors on the walls, cabinets, and countertops.

Open Shelving

It’s important to remember that kitchen renovations can add value to a place if you plan to sell your home in the future. Open shelving is a perfect renovation for a small kitchen. Apart from the fact that it's a trending look and allows you to display your beautiful glassware, open shelves also make smaller kitchens look bigger. It is both practical and aesthetically pleasing! There are different ways in which you can install open shelves to fit your kitchen décor. You can go for a rustic look with live-edge wooden shelving or switch it up with hanging shelves and platforms. To save space, you can also add shelving that is open along the corner rather than running it along an entire wall. For a unique touch, you can use the open shelving to create a coffee bar.

The Right Flooring

Your kitchen flooring is also important, as you need something durable and easy to clean for your cooking space. When you move to your new NYC condo, there is a chance that the flooring could be older since many buildings in the Northeastern part of the United States are +100 years old. The right kind of floor can entirely change your kitchen. There are different flooring options that you can choose, depending on the décor you have floating around your home. Sheet vinyl floors are a great choice, as they are water-resistant, easy to clean, affordable, and comfortable underfoot. You can also go for porcelain tile, which is excellent for high traffic areas, very durable and waterproof, not to mention stain resistance. 

No-Hardware Kitchen

You can also go for a no-hardware kitchen as it gives your cook space a minimalist and modern look. For a kitchen like this, closed cabinets with wooden pulls and marble walls will do the trick in giving you a luxurious kitchen feel. In a no-hardware kitchen, you lock everything up in the cabinets and remove most loose items. If you still want to add open shelving, you can install one above the sink with two cabinets reaching the ground. 

L-Shaped Kitchen

You can change the overall layout of your kitchen and create an L-shape. This shape works perfectly in small spaces and allows for open shelving ideas and different splashes of color. In an L-shaped layout, the cabinetry and everything else in the kitchen is arranged against two walls to form an L shape. You can also add a semi breakfast bar opposite the L shape, open cabinetry beside the closed cabinets, and the right flooring to go along with it. 

Alex Capozzolo is the owner of the Brotherly Love Real Estate blog and a content writer for the real estate industry. We buy houses in Philadelphia, PA. Our focus is on helping people through one of the most important investment decisions of their lifetime by seamlessly providing fast, honest, and professional real estate services.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Homes You Need To Make Appointments For This Weekend

Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this weekend. 

Have a listing you think should be featured? Submit your open house or contact us to tell us more!

Upper East Side

Credit to Anastassios Mentis

WHERE:  180 East 79th Street, APT 14E

SIZE: 2 Beds | 2 Baths

COST: $3,950,000

About: Rarely is there a PERFECT apartment on the market with a brand new top level renovation in the most exquisite taste. The total makeover of this enormous six (now five) room apartment has left no detail unattended – from the step-down living room/dining room with a wood burning fireplace to the informal living/media room (formerly the formal dining room) with an elegant wet bar, to the chef’s eat-in kitchen with top of the line Gaggenau ovens, Subzero refrigerator and Wolf cook top, an over sized primary bedroom with an elegant and well-designed marble bath and huge closets, to the second equally spacious bedroom with a lovely marble bath. There’s a very special & elegant powder room, a large laundry room with special apartment Miele washer and vent less dryer, multi-zoned central air, very special decorative hardware throughout, fitted closets, high ceilings, new windows, and lovely sunny exposures. No detail has been overlooked. This apartment is truly a MUST SEE.

180 East 79th Street is a premiere Art Deco building constructed in 1929 and converted to a co-op in 1967. It features a limestone and brick façade and an elegant lobby. The building offers its residents a full array of services by an attentive staff, including 24-hour doormen and hall assistants, and a live-in resident manager. Amenities include a large common laundry room and fitness center, both recently equipped with a new high-volume ventilation/exhaust system that completely changes the air once every 15 minutes, a bicycle storage room and large storage cages. The coop is both pet and pied-a-terre friendly. The building recently completed Local Law 11 work and replaced all three passenger elevators (all fully funded). This very special building is conveniently located between Lexington and Third Avenues, steps from every possible convenience.

For more information click here

Greenwich Village

WHERE:  30 West 13th Street, Apt. 4C

SIZE: 4 Beds| 2 Bath

COST: $3,750,000 ­

About:  Rarely available 4-bed LOFT w/10' ceiling in Greenwich Village! A 30 wall with oversized windows brings in the eastern exposure and view of a quiet green courtyard; this apt hosts approx. 2,100 SF (per NYSDOF tax appraisal). The living/dining area is fully wired for surround sound and has custom-designed wall shelving to host a big-screen TV and book collections. The top-of-the-line open kitchen, features a La Corneau 36 gourmet range, Sub Zero refrigerator w double freezer, Miele dishwasher, Liebherr wine refrigerator, pantry cabinet, under-sink water filtration system, and garbage disposal. The master bedroom suite is outfitted w/2 custom closets, a 5-piece double sink master bath w/ marble bath and marble stall shower and a separate water closet. A 2nd full bath features a double sink and bath tub. You will love the full mud room w/ washer/dryer, storage and laundry drying rack. This home maintains all year round perfect comfort w/ a 5-Zone Central Air/Central Heat System w/2 condenser units. An accompanying storage unit on the basement of the building and 2 bike racks come w/ the apartment. This coop building is located on the quiet West 13th street, at the intersection of Greenwich Village, the West Village, and Union Square, close to all transportation, shops, parks, Whole Foods, and restaurants. The building has a full-time super, and a common roof deck.

For more information click here

Hamptons Bay

WHERE:   161 Lynn Ave

SIZE: 7 Bed | 4 Bath

COST: $30,000 September

About:  Waterfront on Shinnecock Bay. Panoramic open bay front. Nestled on a 2.48 acre compound, this renovated home features an endless list of recreation options. From stand up paddle boards, kayaks, outdoor ping pong table, basketball court, jacuzzi, billiards, and foosball. This is truly an oasis and a perfect place to spend your summer. Enjoy your 200+ private beach, minutes to Fire Island. Offers beautiful renovated chef's kitchen with gas stove marble countertops which leads to dining area, Open living with fireplace opens to great room overlooking beautiful shinnecock bay. A multi level decks offering calming water views all in a casual seating while enjoying nature at its best.

For more information click here

The Proper (No. Twelve) Way to Enjoy The Labor Day Weekend

Caroline Fiske

Proper No. Twelve Irish Whiskey is now a brand that very much stands out. This company surged over 200% last year and it is a favorite for various consumers. Proper No. Twelve on social media (@properwhiskey) has the highest following of any wine, spirit, or champagne brand.

This whiskey is not your typical grain-only Irish whiskey. It is a blend of golden grain and single malt resulting in a smooth and approachable taste with hints of vanilla, honey-like sweetness, and toasted wood. It is also an affordable and accessible quality at only $24.99 per bottle! Each time you purchase some Proper No. Twelve bottles, you are giving back to the people who need it most. For each case that is sold, $5 are donated to First Responder organizations around the world, up to $1 million are donated every year. The Stephen Siller Tunnel to Towers Foundation became the first $1 million donation recipient in March 2020.

Photo Creds

This foundation honors firefighter Stephen Siller who risked his life to save other lives on 9/11. To this day, the Stephen Siller Tunnel to Towers Foundation has spent about $250 million to support first responder families. You can find out more information about the Stephen Siller Tunnel to Towers Foundation on their website at tunnel2towers.org.

Proper No. Twelve donated $100,000 to the Stephen Siller Tunnel to Towers Foundation's COVID-19 Heroes Fund in April 2020. This helps out frontline healthcare workers and their families as well as creating the ‘One For All’ T-shirt which raises additional money and awareness. 100% of the price paid goes directly to the fund.

This summer has not been the same since we cannot do so many things like swimming in a public pool. But now has never been a better time to order a bottle of Proper No. Twelve! It will help improve your grill mastery skills as well as your home bartending skills with whiskey-infused BBQ sauces, frozen boozy treats, and refreshing cocktails. Here are some reasons why you should take a look at these recipes:

• Your taste buds will travel to Ireland when you simply take a sip of Proper No. Twelve neat, on the rocks, or in a cocktail!

• Frozen boozy treats will help you beat the heat!

• You can use Proper No. Twelve infused BBQ sauces whether it is BBQ chicken, steak, or whatever else you desire on the grill for a socially distanced BBQ!

Whether you have a grill, attending a socially-distanced happy hour, or just looking for a boozy way to cool down this summer, these recipes are just for you!

Proper Twelve Mule

• 2 ozs Proper No. Twelve Irish Whiskey.

• 5 oz lime juice

• 3 ozsginger beer

• Lime wedge

dd ice to copper mug. Add Proper No. Twelve Whiskey, lime juice and ginger beer to the glass, garnish with a lime wedge.

The Proper Whiskey Barbecue Sauce

• 1/2 cup Proper No. Twelve Whiskey

• 1/2 tsp Ground Black Pepper

• 1 tbsp Garlic Powder

• 1 tbsp Onion Powder

• 1/2 tbsp Salt

• 3 cups Ketchup

• 1/3 cup Cider Vinegar

• 1/4 cup Worcestershire sauce

• 1/2 cup Packed Brown Sugar

• 1/3 tsp Hot Pepper Sauce

Bring it to a boil in a saucepot. Let it simmer for 20 minutes. Serve.

Mint Irish Coffee Proptail

• ½ ounce Proper No. Twelve Irish Whiskey

• ¼ ounce Branca Menta

• ½ ounce Kerrygold Irish Cream

• 1-ounce cold brew coffee

Mix reach pop individually in mixing cups. Fill popsicle molds (silicone is best).Place in freezer for approximately 5 hours. Remove from mold and consume immediately orplace infreezer bag for later

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

What Questions to Ask Tenants While Screening

Finding the right tenant is a numbers game. There’s one of you, an infinite number of candidates, and just so many hours of your time to get to know them. But if you are prepared and strategic about what questions to ask tenants, you can narrow down the candidate pool. By being thorough in the screening process, you’re doing potential renters a favor. You’re making a first impression, too, and are setting the tone for what could be a very long relationship.

You can save time by being straightforward in your rental advertisement. Clearly state the rent, especially if it’s nonnegotiable. Give details about the security deposit, be specific about your pet policy, and mention that you’ll be conducting background and credit checks. Any of those could be deal-breakers for applicants. Include the move-in date and how long a lease you’re looking for.

Before scheduling any showings, take some time for phone interviews with each applicant. In general, avoid “yes” and “no” questions; for instance, “How many felonies have you been convicted of?” should elicit more direct answers than “Have you ever been convicted of a crime?” Get as much information as you can by asking potential tenants these questions:

• Why are you looking to move?

• How long have you lived at your current residence?

• How many people will be living in the unit?

• Will you be living with anyone who smokes?

• Do you have any pets?

• How many parking spaces will you need?

• May I contact your employer and former landlords?

• Will you agree to a background and credit check?

• Can you pay the application fee upon applying and the security deposit at the lease signing?

• Have you ever been evicted?

• What is your monthly income?

• Are you planning to sublet?

• How long would you live here?

• Could anything disrupt your ability to pay rent?

• Do you have any questions for me?

To stay on the right side of the Fair Housing Act, be careful not to ask these questions:

• Are you planning to have kids? You can ask how many people they will be living with, but not their ages.

• Where were you born and raised? It’s illegal to ask about country of origin or ethnicity.

• Are you dating a nice man (or woman)? Tenants’ rights include privacy about their sexual orientation and gender identity.

• Do you go to a church in the area? Religious affiliation isn’t a consideration.

Tenant screening is not a skill you inherit at birth. Developing a real instinct for renters takes experience and trial by error. That’s why it’s all about knowing what questions to ask tenants. Stick to the script.

Take A Look At Christopher Plummer's Connecticut Beachfront Home

While we always love a beachfront home in the Hamptons, with prices higher than ever, we’re taking a look North of the city in Darien, Connecticut. Listed for $11 Million 207-209 Long Neck Point Road this home once belonged to The Sound of Music star Christopher Plummer aka Captain Von Trapp.

The dramatic property offers two separately deeded lots to ensure the peace and tranquility of your own private oasis. East facing Long Island Sound views are enjoyed from most rooms in this spectacular home. The homes have a private beach, entertaining area, and pool/spa that rival the world's best resorts! This historical home with 5 bedroom, 8.5 bathrooms has been completely and thoughtfully restored and renovated in keeping with the architectural integrity of the past while creating a level of comfort, design and luxurious living for today's lifestyle. The interiors are a collaboration between the owner and renowned interior designer, Cindy Rinfret, Ltd.

Yashmin Lloyds and Shelly Tretter of Compass are the listing agents.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

What To Drink This National Red Wine Day

Wednesday, August 28th is National Red Wine Day. While not the go-to for end of Summer, it’s always good to have on hand, and pairs perfectly with bbq. To celebrate the holiday we’re putting our white wine aside and celebrating with a nice bottle of a delicious vino? Here are some to try.

H3 Wines 

In preparation for National Red Wine Day H3 Wines has launched as a new brand with a new look featuring a beautiful new Pegasus wings label symbolizing the brand’s roots in the Horse Heaven Hills AVA in eastern Washington. As we look to celebrate red wine and shift from summer to fall, this new fantastic selection of reds, including a bold, beloved cabernet, silky red blend and a deep merlot, are perfect for any safe celebration. And, for those who enjoy their wine a little lighter, H3 has you covered with the first vintage of H3 Rosé, a crisp rosé made with a blend of Syrah, Cabernet Sauvignon and Rhone varietals.

All priced under $15, these wines are fitting for a variety of occasions. Learn more at H3wines.com and order from several retailers including, Drizly, Wine.com, Vivino, Target, Walmart and others.

Stags’ Leap Winery 2017 Napa Valley Cabernet Sauvignon

Expressive and inviting, with a bouquet of wild blackberry and fresh black currant fruit alongside delicate floral notes of geranium and violet, with warmer notes of caramel, sweet cinnamon, cardamom and black pepper spice coming through from the oak integration. Great fireside sip as the weather cools down; pairs nicely with a juicy steak.

DiNotte Red Blend

The newest addition to the Mezzacorona portfolio, DiNotte expresses the aromatic richness of two native varieties that thrive on the foothills of the Dolomites mountain range in northern Italy: Teroldego (70%) and Marzemino (15%). A small amount of Merlot (15%) is added. With notes of plum and  blackberry with a hint of cocoa and vanilla, this full-bodied, lushly textured wine makes it the ideal pairing for grilled steak, barbecue ribs and pork chops.

Francis Ford Coppola Diamond Collection Claret

The ultra premium Claret, sports a label that honors the first Cabernet Sauvignon blended in a Bordeaux style by Gustave Niebaum in 1910. Claret is a term originally coined by the British to describe Cabernet-based wines. This Cabernet Sauvignon, Petit Verdot, Malbec and Cabernet Franc blend is alluring and sophisticated; it is memorably lush with a tapestry of smooth tannins and succulent flavors of wild berries, plum and anise. Borrowing tradition of European wineries, we add gold netting to bottle to signify outstanding quality of wine.

INTRINSIC Red Blend 

The perfect wine to drink with dinner and pizzas thanks to its easy sipping. It’s a blend of 51% Malbec, 49% Cabernet Franc and pairs with everything from veggies to meats. 

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

What to Consider When Choosing New Flooring

Putting a home on the market can be risky, especially when it comes to the nitty-gritty details. Large-scale things such as room remodels and stone veneer can increase market value, but so can small-scale changes such as paint and flooring. Here are some ideas for what to consider when choosing new industrial safety flooring to raise your home's market value and increase the odds of selling it for a reasonable price.

Color

The color of your flooring matters. Rather than settle for the same flooring option as before, opt for something more exuberant. Unique colors, patterns, and materials add value without costing much more. For instance, ceramic tiles are uniquely designed, but they’re relatively inexpensive. Alternatively, hardwood has its own grains and colors that can make a room truly stand out.

Pet-Friendliness

Another important characteristic is pet-friendliness. Not every flooring material stands up to pet odors or dander. In fact, carpeting is one of the worst options for pet owners because it often stains and absorbs waste and odor. Instead, consider cork, concrete, tile, laminate, bamboo, linoleum, vinyl, or any other floor material with wear-resistance. These materials also make it easy for you to spot waste, and they don’t absorb odors or stains. Plus, they’re easy to clean and maintain with a simple flooring cleaner.

DIY or Professional Installation

For any type of flooring material, you must determine whether you’ll install it yourself or hire a professional. Some materials make easy DIY projects. Laminate and vinyl flooring are great for self-installation because they’re floating floors, meaning each board connects to an adjacent board. Ceramic and porcelain tile are also easy to install for smaller square footages you can obtain these at a tile store philadelphia. Some materials, such as hardwood, carpeting, and engineered hardwood, require precision and special equipment, so they’re better left to the professionals like Pacific Modular. You can find out more about vinyl flooring installation and decide if it's right for your space.

Square Footage Budget

Finally, another consideration when choosing new flooring is your square footage budget. Naturally, some flooring materials are more expensive than others. Bargain flooring such as laminate, sheet, and tile costs roughly $2 or less per square foot, but it may require more labor-intensive installation. Medium-priced flooring costs between $2 and $5; this includes engineered hardwood or other materials that signify elegance without bursting the budget. Natural hardwood, especially highly prized woods such as mahogany and cherry, cost more than $5 per square foot because they’re the highest-quality type of flooring for the home.

New York Parks To Live Near That Aren't Central Park

An address along Central Park used to be the ultimate status symbol. But today, on the heels of the pandemic that sent Manhattanites running, the most coveted locations are sought along Prospect Park and Brooklyn Bridge Park. The city's elite now want park views in Brooklyn. 

credit Evan Joseph

Take, for instance, Quay Tower, the top-selling new luxury condominium designed by ODA’s Eran Chen with interiors by AD100 firm Marmol Radziner, where stepping outside your front door lands you right at Brooklyn Bridge Park on the Brooklyn Heights waterfront at Pier 6. It's no wonder this building has set a new record for the borough's most expensive residential sale, when a $20M penthouse closed earlier this year. The park location is what sealed the deal for that buyer, and is the biggest reason why Brooklynites and Manhattanites are flocking to the building. Available residences in the building include this gorgeous 3-bedroom, 3.5-bathroom penthouse with absolutely jaw-dropping views of the park, river and city skyline, available for $6.6M.

credit Creative Soldier

The same trend is unfolding at 111 Montgomery, the first full-service luxury condo in the borough’s beloved Crown Heights neighborhood. The brand new building is located right next to Prospect Park and the Brooklyn Botanic Gardens, two of the city’s most important and celebrated landmarks. Homes feature modern finishes designed by Brooklyn-based Mesearch Studio. Buyers are leaving ultra-fancy rentals in neighborhoods like Williamsburg and the Upper East Side to be at this park-side location, which also comes with amazing amenities/perks including a private rooftop terrace, a garden that residents can help plant, a nature-inspired children’s playroom, and a coworking lounge. Homes at 111 Montgomery are priced very attainably, starting at $499,000. Available homes in the building include this $1.29M two-bedroom, two-bathroom with a 312-square-foot private patio.

Credit: Binyan Studios

And then there is One Prospect Park West, which offers true park living, with 600 acres of green space just outside its doors. Originally built in 1925 by the Knights of Columbus, the historic building is being carefully renovated and converted by developer Sugar Hill Capital Partners into a rare residential condominium located directly on Prospect Park, overlooking Grand Army Plaza. The first residential building designed by Workstead, the renowned Brooklyn-based design studio, One Prospect Park West offers 64 residences with over 40 unique floor plans featuring locally-sourced design details that create the perfect balance between pre-war and modern design. Residences frame picturesque views of the New York City skyline and lush Prospect Park while placing residents mere minutes from the verdant urban oasis that provides respite from the busy city.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

The Surprising Cost of Buying an Apartment in New York City

Caroline Fiske

According to Sarah Funky, “New Yorkers throw away an average of $38,000 a year on rent alone.” Most New Yorkers do not own a home in the city because it is “way too expensive.” And honestly, I do not blame them in the slightest! Yet at the same time, 1 in 21 New Yorkers are millionaires hence why they can afford the beautiful apartments while the others can’t. This is mainly why 67% of New Yorkers rent their apartments while 36% of non-New-Yorkers rent properties. The average rent for a one-bedroom apartment is $3,200 which is 82% of the median American salary. Sarah met with various real estate agents to answer the question of why more and more New Yorkers do not own apartments.

Why do 68% of New Yorkers rent their apartments? In this video, I'll discuss the true cost of buying an apartment in NYC and you'll learn from real estate ag...

Sarah Funky met with real estate agent Phillip Salem about the reality of buying an apartment in the city. The average cost of a one-bedroom condo (a property that is solely owned by you) costs 1 million dollars and this makes up 20% of the city’s real estate market while 80% are co-ops (owning shares of the building). The average cost of a one-bedroom co-op is $5,000. Condos require a 10% down payment while co-ops require a 20% down payment. Co-ops also require post-closing liquidity (a hypothetical statistic to that would be $5,500 monthly mortgage x 24 months = $132,000). There is also a flip tax which is 1-3% (about $10,000). For properties that are over $1 million in the city, there is a required mansion tax, which is also 1-3% (about $10,000). Then there is a transfer tax which is 1.875-2.025% (about $18,750). For Co-ops, there is a co-op application fee which can be anywhere between $2,000 and $5,000. The average total amount of all of these down payments, taxes, and fees, is $377,250. I don’t know about you but all of these statistics are making my head spin! At the end of the day, the little things make an apartment cost more or less and all of these extra taxes and fees will depend on the apartment that you are interested in. Before all of the apartment hunting madness commences, it is highly recommended to get a buyer's agent. It is free and they save you from a lot of stress. The more uptown you go, the higher the prices go. Once everything is cleared with your buyer’s agent you are ready to move into your dream apartment!

Sarah navigated through Compass.com which is a website where you can look at the area and cost of various New York City apartments. Phillip also works at Compass and he highly encouraged her to look on that website to see what she could find. What I liked that Sarah did too was that as she was looking at apartments online, she made a spreadsheet in Microsoft Excel about the apartment fees, price, and monthly mortgage for her to know how much she needs in total to get that apartment. She can now see how much she would be spending on the fees alone depending upon the apartment that she likes. Even though New York City is one of the most expensive places in the world, Sarah cannot imagine living anywhere else and I couldn't agree more. “Its energy, glamour, and the people draw me back.” From the moment I saw the Radio City Rockettes, I fell in love with this city. As a little girl, I knew that I wanted to live in the Big Apple. Overall, Sarah’s positive yet honest personality helped me prepare for the unexpected when it comes to apartment buying in New York City.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Morris Adjmi's Front & York Tops Out in DUMBO

Front & York has officially topped out, revealing unprecedented, postcard-like views from a new development in DUMBO.

Designed inside and out by renowned architect Morris Adjmi, Front & York will introduce the first opportunity to live in a full-service, luxury urban oasis in DUMBO. With each of its two residential towers now reaching their full height of 21 stories, sweeping views are available of the East River and the entire Manhattan skyline from the Statue of Liberty up to the iconic skyscrapers of Midtown.

credit: Williams New York

An unprecedented offering for the neighborhood, Front & York is bringing new condominium homes, rental residences, transformative new retail and publicly-accessible parking to a formerly vacant lot. Ranging from one- to four-bedrooms and spread across two towers serviced by their own lobbies, the condominium residences at Front & York combine beautiful materials with modern finishes, including 10-foot ceilings, white oak floors and Nest thermostats. Oversized divided-light windows—a hallmark of Adjmi’s contextual style—flood the homes in abundant natural light and frame sweeping panoramas of the waterfront, sparkling Manhattan skyline and the lush private park.

Front & York’s well-rounded offering is complete with one of the most comprehensive amenities packages in all of New York City, spanning 150,000 square feet. The development is centered on one of the city’s largest private parks, a gorgeous, 25,000-square-foot space designed by Michael Van Valkenburg Associates, who envisioned the neighborhood’s beloved Brooklyn Bridge Park. The lush landscaping will provide private green space, a quiet respite and a verdant view for residents. Residents of Front & York will also enjoy a rooftop pool deck; a 77,000-square-foot Life Time, the premier athletic and wellness center; and a full suite of lifestyle and leisure spaces, including a co-working lounge, outdoor screening area, outdoor fireplace lounge, private wine room, private chef’s kitchen with private dining room, toddler and teens rooms and much more. Each residence of Front & York will receive one complimentary Life Time membership.

Ideally positioned, Front & York’s location in the live-work mecca of DUMBO places residents in close proximity to the waterfront, desirable transportation options as well as a variety of major companies’ headquarters. The development is moments from the East River ferry terminal—which offers a five-minute, open-air commute to Downtown and Midtown Manhattan—bike paths and walking paths across the iconic Brooklyn & Manhattan Bridges, and just one subway stop away from Manhattan via the York Street F train subway stop. Front & York offers robust private parking and bike storage, and has been generously set back from the property line, making space for 30-foot-wide, tree-lined sidewalks that maximize pedestrian comfort and create additional space around the development.

Construction on Front & York is being handed by New Line Structures, one of the most preeminent construction management firms in New York City. Pricing for current availability at Front & York starts at approximately $950,000 and initial occupancy is slated for mid-2021.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.