Manhattan Condo Living

Dorchester Towers NYC : February 2010 Report

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Thu, 04 Mar 2010 14:29:22 -0600

Dorchester Towers NYC : February 2010 Report

The first two months of this year have seen some activity in the Dorchester Towers. Properties have closed and sold, gone into contract and also been brought onto the sales market.

Closed Sales in Dorchester Towers in the first two months of the year:

I am going to include a sale that closed in the very last couple of days of 2009.

Jr. 4- A high floor(31st) closed for approximately $1,040,000.00 There was about an 8% discount from the original asking price to the closed price.
Another slightly smaller Jr.4 with a NE exposure on the 8th floor closed for $825,000.00. There was approximately an 5.7% discount from the original asking price to the closed price.

-Keep in mind that both of these apartments had the extra half bathroom already established in the unit, a feature that not all junior 4 layouts in the building possess-

In-Contract Apartments:

1 Bedroom-A western facing 1 Bedroom on the 17th floor has a contract signed. The asking price at time of contract signing was $689,000. Until it closes the closing price is not published. But something to consider is the time on market from when the property was first introduced to the time the contracts were signed which in this case were approximately 2.5 months.

-Keep in mind that the median number of days on market to Contract Signed since last asking price was a little over 2 months in Manhattan-

Studio-A 546 sq ft western facing on the 7th floor studio has a contract signed at the last asking price of $599,000. It was first listed for $625,000 and then decreased the price 4% to $599,000 about 1 month into the listing period. Approximately 3 week after the price was decreased it had an offer accepted and contracts were signed. Again it took a little less than 2 months from the time the property went on the market until it had a contract signed.

For Sale Apartments:

1 Bedroom w/ dining alcove- There is one higher floor Jr. 4 apartment with half bath available with an asking price of $1.295 million. There is a 16th floor Jr. 4 with just one bathroom asking $929,000.

3 Bedroom- There is 1 Three Bedroom apartment available with an asking price of $2.295 million dollars.

For specific information regarding these apartments including condition, exposure, layout and pictures please contact us and we will provide all of the requested information.

What to take away from the report?

When a property is priced competitively we see a lot of activity at the Dorchester Towers Condominiums and we see buyers ready to make offers that are being accepted. We see some negotiation from the last asking price to the closed price but is it well within the average discount spread across all residential sales in Manhattan.

Another factor and rather large one is the time it is taking from contract signed to closing. If a property in contract at the Dorchester Towers needs financing in order to purchase it, we are seeing longer and longer amounts of time to close. This is something that we are going to focus an upcoming post next month specifically about. Because of the structure of the ownership in the building getting financing can be an arduous process and one that needs to be handled by an expert that knows the Dorchester building specifically.

To Contact us to talk about the Dorchester Towers, you can reach me at (917) 837-8869 or email at morgan.evans(@)elliman.com

TO READ MORE OF DORCHESTER TOWERS BELOW:

We are in a competitive market, hence working with two agents that live in the building and that specialize in condominium sales will you give you an advantage when it comes time to sell or rent your apartment. Our approach to selling your apartment is intentionally unique. We use strategies that most real estate agents do not use. If you are interested in hearing our proposition, contact us immediately to see how we can help you achieve your goals.

For a complete list of the current apartments for sale at the Dorchester Towers Condominium or for condominium apartments for sale in the Upper West Side call Morgan Evans or Eileen Hsu at (212)321-7122 or (917)837-8869 for further details.

Disclaimer: All information in this post is subject to change without notice. Subject matter: is an opinion, is not guaranteed, may be time sensitive, and may be based on information collected from several sources which may or may not be reliable at the time of sourcing.

The Milan - 300 East 55th Street NEW ON MARKET

Thu, 04 Mar 2010 08:20:57 -0600

New On Market. Milan Condominium located at 300 East 55th Street, New York NY 10016. Building Features: 24 Hours Doorman and concierge, Garden, Health Club, Bamboo garden, Business Center, Pre-wired High Speed internet and cable access.

This Milan Condominium one bedroom apartment has Eastern exposure with open kitchen facing the separate dining room, and the spacious living room and oversize bedroom that also has Eastern exposure. The building has 421A tax abatement therefore this unit has low Real Estate taxes. The unit also has its own washer and dryer.

The Milan Condominium is a 32-story tower was designed by Peter Claman of SLCE Architects and developed by the World Wide Group of which Victor Elmaleh, who is a very fine artist, is a principal. Most of the 118 condominium units are two-bedrooms. The top penthouse has three fireplaces. The lobby and atrium club room were designed by Jay Valgora of Studio and the outdoor bamboo garden was designed by Ken Smith. The building has an 8-story base and chamfered corners and some angled windows.

To Read more about Milan Condominium or any other Manhattan Condos, please read our blog series below:

If you are looking to sell or buy your Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

Wordless Wednesday - A photograph Expression of Empire State Building New York

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Wed, 17 Feb 2010 23:20:38 -0600

A photo of me infront of Empire State Building taken February 15, 2010.

If you are looking to sell or buy your Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

Year of the Tiger - Lunar New Year 2010!

Sat, 13 Feb 2010 15:12:44 -0600

February 14, 2010 is not only the Valentine's Day, it is also starting Chinese New Year in lunar calendar. This is the year of TIGER! The Tiger is the third sign in the Chinese Zodiac cycle, and it is a sign of bravery. This courageous and fiery fighter is admired by the ancient Chinese as the sign that keeps away the three main tragedies of a household. These are fire, thieves and ghosts.

Anyone that is born in the Year of the Tiger is good nature and outgoing. They have extreme amount of patience, they are smart and instinctive. People that are born in the Year of the Tiger are well liked by others with many friends.

Tonight is the New Year's Eve The celebration actually starts on New Year's Eve with the reunion dinner. If you celebrate Lunar New Year, by tonight you should have done the following:

Clean the entire home to get rid of all the things that are associated with the old year.
Put away all brooms and brushes.
Pay all your debts.
Resolve differences with family members, friends, neighbors and business associates.
Buy the following: red money envelopes, oranges and/or tangerines, circular candy tray, flowers (especially plum blossom, peach blossom, water lily), a new set of clothes and shoes for children, preferably something red or orange.
Get new dollar bills from the bank. Insert the new dollar bills into the red envelopes. Now the red envelope is called a lee see or lucky money envelope. (note: Very few modern families follow all the "cleaning" traditions.)

We are both English and Chinese Speaking Real Estate agents under one of the most successful Manhattan Brokerage firm Prudential Douglas Elliman with extensive market knowledge. In addition, we specialize in connecting the local Manhattan sellers with both local and international buyers with our preferred buyer networks. Call us today at (212)321-7122 or (917)837-8869.

To Read More on buying Manhattan New York city Real Estate Click below links:

Buying Manhattan New York Condo Must Read Part III- Foreign Nationals

Sat, 13 Feb 2010 14:34:32 -0600

This is Part III of the series Buying Manhattan New York Condo Must Read, in this series, we will discuss Buying Manhattan New York Condo Must Read Part III- Foreign Nationals. We are Manhattan Condo Specialists, we help finding suitable condos for first time investors, parent buying for children and foreigner nationals buyer buying in Manhattan New York. We know the market but we also understand the specific needs of each type of buyers.

Buying Manhattan New York Condo Must Read Part III- Foreign Nationals: Foreign National Buyers and out of town buyers represent about 40% of our business. The strong demand of investment properties in New York city by foreigners as the news media has been writing about the softer market here in Manhattan. Our team have been serving foreign buyers in Manhattan Real Estate market for a long time, and not only for the foreign buyers, out of town buyers often find Manhattan Real Estate a unique market of its own.

Here are few considering factors for Foreign Buyers and Out of town buyers before investing in Manhattan New York Real Estate:

Why do you want to buy in Manhattan New York? Is it because your child is in Manhattan New York or plan to send them to New York for school? How old are your child? Are they near for University or ?
Are you aware of the purchase process? The typical purchase takes about 30-45 days to close even if you are a cash transaction, there are condominium applications that the purchaser need to complete and condominium board of directors have to review before the closing can be scheduled.
How much do you want to 'disclose' about yourself? In a typical condominium application, there will be finanancial information documents that purchaser has to present to the board of directors to review. Is this comfortable for you?
Do you know the difference between Co-op, condop and condo? If you are a foreign national that has no permanant residency here in United States, or here for student/working visa, it may be important for you to understand the difference between all different type of inventory.
How much financing do you plan to obtain if any? Obtaining mortgage for foreign nationals takes time, and expertise, if financing is something you required, it is important to speak to a lender that has this type of experience.
Should you structure the purchase under a Limited Liability Corporation (LLC) or individual? Planning ahead of time is a must for foreign national buying in Manhattan New York condo because of tax implication in the future, working with the Real Estate agents like ourselves can help you avoid complication in the future.

As experts in working with Foreign National buyers and out of town buyers, we are constantly educating the buyers and addressing the misinformation and false assumptions that client bring from his/her home town/country, and culture in order to explain the options, alternatives, and their consequences.

If you are looking to purchase Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at ehsu(@)elliman.com or Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

Manhattan Central Park in Snowy February 2010

Thu, 11 Feb 2010 21:28:16 -0600

Central park Reservoir
The Great Lawn in April 2009
Upper West Side Lincoln Center- the New Alice Tully Hall
Upper West Side Condos
About Us

We are residents of Upper West Side in Manhattan New York and also successful Real Estate agents under Prudential Douglas Elliman. We know the neighborhood intimately and have market knowledge to share with you or anyone that may need that information. Contact us today at (917)837-8869 or Ehsu(@)elliman.com.

Buying Manhattan New York Condo Must Read Part II- First Time Investor

Sun, 07 Feb 2010 11:16:08 -0600

This is Part II of the series Buying Manhattan New York Condo Must Read as first time investor. We are Manhattan Condo Specialists, we help finding suitable condos for first time investors, first time home buyers, parent buying for children and foreigner buying in Manhattan New York. We know the market but we also understand the specific needs of each type of buyers. This blog we will discuss how to buy as first time investors, In Part I Buying Manhattan New York Condo Must Read Part I - Parents Buying for Children

Buying Manhattan New York Condo as first time investor you should have a clear goal of what you plan to achieve in this investment. Is this a 5 year Real Estate plan or 10 year Real Estate plan? Why do you feel is the time to invest? Are you going to have a tenant in place the entire duration or only part of the time. Have you discuss this with your accountant to understand how to structure this transaction to recieve the most tax benefits or possible tax complications?

Buying Manhattan New York Condo as first time investor, you should 'play it safe', do not over leverage yourself. If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you. We can recommend you a reliable and knowledgeable Manhattan mortgage consultant or You may have a bank that you are currently banking at, you can ask them to refer you a Manhattan branch mortgage banker as well. As an investor, the mortgage interest rate will be slightly higher than others, it is important to keep that in mind when figuring out your monthly expenses.

Buying Manhattan New York Condo as first time investor, team up with us, the experienced Manhattan Condo specialists that can guide you through this process and navigate through the Manhattan Real Estate maze. Whether you are a first time Real Estate investor, or an investor that have bought and sold multiple properties in other parts of United States or country, we can help. Understanding the local market with the market expert can maximize your investment and avoid any possible problems down the rule. Many of our past clients are first time investors, they have bought many Manhattan condos under our guidance and continue to do so because we have developed a Real Estate plan for them. If this is something you are interested in, contact us now at (917)837-8869.

If you are looking to purchase Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at ehsu(@)elliman.com or Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

Blue Water Grill - New York Winter Restaurant Week!

Wed, 03 Feb 2010 22:50:27 -0600

One of the reason to love New York is that twice a year, in January/February and June/July, there is a unique opportunity to experience some of New York City's finest restaurants for a fraction of the usual price. It's time again for that wonderful New York City tradition -- Restaurant Week! This winter, we get to enjoy another extended Restaurant Week and dine at Manhattan's trendiest and best restaurants from January 25 to February 7, 2010.

Last week, we have tried Bobby Flay's MESA Grill, it was a delicious experience, and today, we went to Blue Water Grill, which is in Union Square New York and it is a well known seafood restaurant and we are here to share our experience.

New York's top restaurants serve three-course lunches for $24.07(in a cute play on 24/7, though discounts are not good on Saturdays, though some restaurants are offering deals on Sundays) and three-course dinners for $35.00 (beverage, tax and gratuity not included).

Wordless Wednesday - a Photograph Expression

Wed, 03 Feb 2010 22:17:45 -0600

Photos taken in a flower market in Taiwan, Republic of China 2009.

To Read More on buying Manhattan New York city Real Estate Click below links:

Buying Manhattan New York Condo Must Read Part I - Parents Buying for Children

Mon, 01 Feb 2010 16:52:18 -0600

We are Manhattan Condo Specialists, we work with both buyers and sellers within our market place. Recently we have received many interests from out of town parents wanting to invest in Manhattan Real Estate mainly because their children are in Manhattan working or going to school here. We thought it may be helpful for buyers to read about our in Buying in Manhattan New York Condo Must Read Series.

In our Buying Manhattan New York Condo Must Read series in Part I as parents buying for children, Part II as first time investors, Part III as first time home buyer and Part IV as foreign nationals buying in Manhattan New York Condos. We know the Manhattan Condo market and the specific needs of each type of buyers.

Buying Manhattan New York Condo as parents buying for children, you should understand your budget and timeframe to start. Is this a 5 year plan while your child goes to school in New York? We work with many parents who are buying for their son/daughter that goes to New York University, Parsons school of design, School of Visual Arts, Columbia University, Jillards music school and other well known schools here in Manhattan New York. Is this for your son or daughter that is currently working in Manhattan? Do they have a job stability or financial freedom? Are they currently renting and lease may be expiring soon or month to month arrangement? It is important for us to know the reason and timeframe so we can narrow down the search for you.

Buying Manhattan New York Condo as parents buying for children, you should plan ahead, and speak with all the parties involved (the right mortgage consultant/banker, accountant and a knowledgeable Manhattan Real Estate attorney.)

Mortgage consultant: If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the local market, the lending rules, and the mortgage products that may be suitable for you and your son/daughter.
Accountant: If you are planning to co-purchase the condo with your child, be sure to discuss the possible tax complication you may have with your accountant. Speak to your accountant prior to your purchase can be very helpful.
Manhattan Real Estate Attorney: In addition, speak to a local Real Estate attorney will be helpful as well since the local Manhattan Real Estate can also advise you what is the best way to structure the purchase and think about who/how should take the title of the deed.

Buying Manhattan New York Condo as parents buying for children, the experienced Manhattan Condo specialists that can guide you through this process and navigate through the Manhattan Real Estate maze. Whether you are a first time buyer, or an investor that have bought and sold multiple properties in other parts of United States or country, we can help. Understanding the local market with the market expert can maximize your investment and avoid any possible problems down the rule. Many of our past clients are first time investors, they have bought many Manhattan condos under our guidance and continue to do so because we have developed a Real Estate plan for them. If this is something you are interested in, contact us now at (917)837-8869.

Video Blogging for 2010 - Manhattan Real Estate Agent

Tue, 12 Jan 2010 19:50:30 -0600

As part of my business plan for 2010, I have decided that myself and my team will integrate video blogging in our blogs. This new years I bought myself a flip camera and have decided to try few videos. To start off my New Year resolution, I have done a short video clip as introduction to share.___________________________________________________________________________________ If you are a seller that would like to have your property showcase to our oversea buyer connection. Please contact us now at (646)644-6929. If you are a buyer that speaks Chinese and would like work with someone that speaks your Chinese dialect, call us now at (646)644-6929. We are both English and Chinese Speaking Real Estate agents under one of the most successful Manhattan Brokerage firm Prudential Douglas Elliman with extensive market knowledge. In addition, we specialize in connecting the local Manhattan sellers with both local and international buyers with our preferred buyer networks. Call us today at (212)321-7122 or (646)644-6929.

Chinese Speaking Real Estate Agents in Manhattan New York (VIDEO)

Thu, 14 Jan 2010 18:04:36 -0600

If you are a seller that would like to have your property showcase to our oversea buyer connection. Please contact us now at (646)644-6929. If you are a buyer that speaks Chinese and would like work with someone that speaks your Chinese dialect, call us now at (646)644-6929.

To Read More on buying Manhattan New York city Real Estate Click below links:

Dorchester Towers Condominium: 155 West 68th Street 2009 Year Review

Wed, 27 Jan 2010 13:48:26 -0600

The Dorchester Towers, built in 1965, is located in the prime Lincoln Center area of the Upper West Side in Manhattan. Apartments at the Dorchester Towers are well known to have spacious and practical layouts, numerous large closets throughout each apartment, and open western and eastern exposures. The mix of the apartments in Dorchester Towers Condominiums varies with a variety of layouts including mostly studio apartments both straight and alcove, one bedroom and junior 4 apartments commonly converted to 2 bedroom layout, and very spacious 2 bedroom units. There are combination units forming larger 3, 4 and 5 bedroom apartments.

Most desirable aspects of Dorchester Towers is its unique position: It sits on the whole block between Broadway and Amsterdam Avenue on 68th and 69th Streets, combined with the circular driveway at the main entrance on 68th Street provided fantastic double exposures from many of the units from both towers. Dorchester Towers has a full-time doorman and concierge, package room, garage, roof deck, bike storage/storage units and fantastic laundry rooms on every floor on the eastern tower. The location of Dorchester Towers is one of its best selling points, being right in the heart of Lincoln center its residents have great access to subways(1,2,3) bus lines(M104 and M5) and all of the amenities the neighborhood has to offer. About a 5 minutes walk to both Central and Riverside Park, a variety of shopping, the movie theater just across the street, gyms and everything else you would expect to have in this vibrant and well established neighborhood.

In 2009 11 apartments sold at the Dorchester Towers Condominium at 155 West 68th St, New York, New York 10023

For a comparison of years past, in 2006 15 properties sold, in 2007 12 properties sold, and in 2008 12 properties sold. So it appears that Dorchester Towers Condominium in Manhattan is right on its average of how many units sell every year.

The turnover rate was 3.24%.

Breakdown of the type of units SOLD in 2009

Studios- 2 studios sold- Average price of $545,000 at an average price/sq ft of approximately $1001
1 Bedroom-4 One bedrooms sold - Average price of $675,000 at an average price/sq ft of approximately of $1054
Junior 4*- 3 Units Sold, Average Price- $902,053 at an average price/sq ft of approximately $1,000
3 bed/3 bath-1 unit sold at $2,200,000.00 price per sq ft of $1035
4bed/3 bath-1 unit sold at $1,610,000.00 price per sq ft $782

*- The Junior 4 Layout or 1 bedroom with dining alcove has some of the most variation in apartment layout, # of bathrooms, and square footage in the entire building. Each unit has to be looked individually to determine a specific price point based on its unique characteristics.

How do the Prices in Dorchester Towers Compare to 2008?

Studios-2 Units Sold at an average price of $956 sq/ft
1 Bedroom-6 units sold at an average price of $1069
Junior 4-4 Units Sold at an average price of $947

What does this all mean?

Because Dorchester Towers Condominium is such a large building, 680 apartments, and the specific location and design of the building, taking up the entire block from 68th to 69th Street from Broadway to Amsterdam, the layouts, exposures and floor level have dramatic effects on the pricing of each unit. The building was originally built in 1965 and converted into condominiums in the late 80's so the physical condition of each unit will depend on each individual owners ability to remodel.

At Dorchester Towers Condominium it is very important to know the fine points of the building because there are so many layouts and variations that will effect pricing. Understanding individual lines, a pricing history of similar apartments, exposure and view will greatly impact a pricing strategy or bidding strategy for both buyers and sellers.

TO READ MORE OF DORCHESTER TOWERS BELOW:

Manhattan New York Co-Ops are not foreign buyer or investor friendly

Mon, 25 Jan 2010 08:29:55 -0600

Can an foreign buyer or investor buy a property in a co-op in New York City? Foreign National buyers and investors are majority of our clientele, we often have to explain to the buyers about the Manhattan housing market, which consist of Condominiums and Co-Ops. Often, we encounter the question....

"Can a Foreign National Buyers and Investors buy a property in a co-op?"

Co-ops are 90% or more of New York Real Estate. Co-op buildings are governed by Co-op Boards, which make every esseential decision about the building and set building house rules and policies. Among those decisions, Co-Op board of directors approve every potential purchaser.

Foreign National Buyers or Investors to buy an apartment in a co-op building are not easy for several reasons:

Co-op purchaser approval takes weeks -- if not months -- and is a rigorous and notoriously difficult process. The majority of co-ops only approve buyers with New York employment, US income tax and excellent credit history in the US. The law doesn't require a co-op to even provide an explanation for a potential buyer's rejection.
There are often restrictions on how much financing a buyer can use (for example, no more than a certain percentage of the unit price).
Almost all co-ops restrict the right to sublet your apartment, which makes it unattractive to investors. Usually, co-op apartments cannot be rented out at all or can be rented out for 1 or 2 years after a certain number of years of owner occupancy.
Co-ops regulate your use of the apartment in many other ways... including having guests or performing renovations.
When selling (or renting it out when allowed) a co-op, your buyer will be subject to co-op approval as well, which reduces the number of qualified buyers and therefore reduces the price of your investment.
There are often additional "flip taxes" on the resale of a co-op to discourage speculators.

All these measures are intended to protect interests of other co-op shareholders and make sure that a new buyer is financially stable, and will always be able to pay for monthly maintenance, improvements and expenses of the building. In addition, often residents of co-op buildings often view their building as exclusive clubs and want to make sure that the building attracts only a certain type of people who use it in a certain way that makes all the residents comfortable.

The purchase price of most co-ops is 10-20% lower than that of condos. Monthly expenses (maintenance), on the contrary, are usually slightly higher and include utilities, maintenance expenses, real estate taxes, and the corresponding share in the mortgage indebtedness of the building... if the building has a mortgage loan. In addition to the mortgage interest on their own loan, co-op shareholders can deduct their portion of the corporation's real estate tax from their taxable income.

Still, co-ops can be attractive for those who would like to use the apartment as a primary residence or as a pied-a-terre (part-time stay). For the most part, co-ops are older (prewar) buildings with beautiful authentic features, fireplaces, high ceilings, moldings... and sometimes even their own gardens. If you are a foreign buyer or investor, you should consider Manhattan Condo as a better investment of your money.

If you are looking for a Real Estate Professional who understands Foreign Nationals buying in Manhattan New York city Real Estate and are looking for the right investmentment, or are selling your property contact Eileen Hsu or Morgan Evans at (212)321-7122 or email us at: ehsu@elliman.com

disclaimer: We are not a bank and we cannot loan you or your broker any financing. We work with the top banks and borkerages in the country and can put in front of the best loan officers in New York. These requirements listed above is merely to give you an idea of your financing options; not to market our services.

Facts about True Foreigners invest in Manhattan New York Real Estate.

Gramercy Starck Rentals - January 2010 Report

Morgan Evans-New York City Real Estate Expert (Prudential Douglas Elliman) — Tue, 26 Jan 2010 18:02:42 -0600

Gramercy Starck Rentals at 340 East 23rd St- January 2010 Report

Gramercy Starck Condominium located at 340 East 23rd Street New York NY 10010 designed by world renowned designer Philippe Gramercy Starck is a 21-story, 207 -unit development built in 2007. Philippe Starck designed the building’s interior and buyers could choose from three different styles for their apartments: nature, culture or classic.

In this month's Gramercy Starck Rental Report you are going to find the price ranges for current availabilities in the building, what apartments have been renting for, commonly asked questions renting in the building, and have the ability to contact us to speak about what you are looking for.

At Gramercy Starck you will be greeted by the 24-hour doorman in the Starck designed entrance lobby. The second floor has the 3,000 square foot lounge where you will be able to relax in the library, watch your favorite movie in the screening room, entertain in the billiards room, or relax out when you open up the doors from the lounge to an over-sized landscaped outdoor deck. The lower lobby houses the fitness room, saunas, storage, and laundry facilities. If that's not enough go up to the roof deck and relax in one of the cabanas.

Right now there are a number of rental choices at Gramercy Starck in a number of categories. One of the features of Gramercy Starck that make living here and renting here a unique situation is the variety of types of apartments in the building. You don't just have studio's, 1 bedrooms, 2 bedrooms and 3 bedrooms because there are also duplexes and Penthouse apartments available. There is something for everybody, especially if you are looking for a more dramatic space.

Current Availability at Gramercy Starck:

Studios both furnished and unfurnished are asking from $2400-$2800/month.
1 Bedroom - There is one Sky house duplex 1 bedroom asking $5800/month.
2 Bedroom- There are two upper floor D- Line units asking $4950 and $5500/month. and a Penthouse 2 bedroom asking $5000/month.
3 Bedroom- There is a higher floor Three bedroom asking $7700/month and a sky house 3 bedroom duplex asking $9999/month.

To contact us about any of these Gramercy Starck apartments and receive a reply in the next few minutes, reach me on my blackberry at
morgan.evans(@) elliman.com

Gramercy Stark Recent Rental Transactions:

Studio's: Price range from $2400-$2800
1 Bedroom's: Price range from $3400-$4800(Includes furnished units and sky house duplex apartments)
2 Bedroom's" Price range $4800-$5200

Why Rent at Gramercy Starck?

Gramercy by Starck is one of those buildings that makes a statement. If you don't like those plain vanilla cookie cutter rental buildings you are going to love Gramercy Starck. Unlike most rental buildings there is a high level of finishes and amenities that hard to find elsewhere. When you walk in and are face to face with the huge Renaissance portrait and standing underneath the mega-lampshade-chandelier you know where you are at. The apartments are outfitted with high end appliances, washer/dryers in ALL of the the units, and full access to all of the amenities without any additional costs. You will have full access to the completely outfitted fitness room with sauna and steam rooms in the his and her locker rooms.

Gramercy Starck Frequently Asked Questions

Is Gramercy Starck pet friendly?

As of now, Gramercy Starck is pet friendly, but the individual owner of the condominium may not be, so it depends, call us to find out if the type of apartment you are interested in is pet friendly or not?

How soon can I move in?

Gramercy Starck Condominiums has an application process. This application process can take at the very minimum two weeks up to 30 days depending on how quickly the application is submitted with all of the necessary documentation and board approval. So if you call us today looking to move in tomorrow or a few days from now, we won't be able to accommodate.

How much is the security deposit and is it first and last months rent upfront?

There is no umbrella answer to this question as each owner will have a different requirement based on their preferences and your but generally expect at least the first months rent upfront and at least 1 months security

What about the broker fee?

Again, there is no umbrella answer to this question because you will be renting directly from an owner, this is not a big management company, so there will more than likely be some type of broker's fee involved, whether you or the owner is paying it. The structure of the broker's fee will be dependent on each apartment, this is something that we will be able to tell you once we know we know what you are looking for.

Are they any other fee's involved with renting?

I am going to outline the application fee's involved in renting, there is a $50 credit application fee, a $1,000 move in deposit that is refundable if no damage takes place at the time of move in.

Who is the management company?

Douglas Elliman Property Management is the current manager of the building.

How do you get a hold of us to talk about your future apartment at Gramercy Starck?

****You can email us directly at Morgan.Evans (@) elliman.com or call us at (917) 837- 8869.****

To read more about Gramercy Starck:

For a complete list of the current apartments for sale or rent at Gramercy Starck or for condominium apartments for sale or rent in Downtown Manhattan call Morgan Evans or Eileen Hsu at (212)321-7122 or (917)837-8869 for further details.

**Copyright Gramercy Starck Rentals January 2010**