Around TOWN

April 2017
Susan M. Singer
Licensed Associate Real Estate Broker – TOWN Flatiron –
sin@townresidential.com
917-207-6368
So much social and political activity in April…say WOW to  the first 100 days. The impact on NY real estate created by the financial markets can be read in many ways so I’ll skip the specifics speak to it more generally.
Toll Brothers is offering to pay buyer’s taxes to speed up sales in some of their buildings and the over-supply is forcing many developers to reduce prices. In Q1 new development sales in NYC dropped 25.4 %. Resales, when priced right, continue to sell quickly, as evidenced in the sale of my One Bedroom Listing   shown below. We were in contract, above ask, in just 14 days. Stay tuned for more new listings next month.
Happy Spring,

LONDONTERRACESTORIES.COM
Since the Towers have an extensive resident base of over 650 apartments and nearly 90 years of history it seemed wise to dedicate a site exclusively to its inhabitants, both 2 and 4-legged, and stories past and present.

 CHINESE INVESTMENTS: U.S. REAL ESTATE
Last night I attended a seminar at The China Institute Center for Business to hear Michael H. Krupa, President of Glendale USA, Ludwig Chang, Co-founder of COMAC International, and moderator Mark Edelstein, chair of Morrison and Foerster’s Real Estate Group. The discussion covered both residential and commercial investments and, of course, the effect the new administration will have on investment by the Chinese in the U.S. and Canada, and our increasing investments in China.

One interesting aspect pointed to the fact that Chinese investors tend to invest and build in cities which offer direct flights from major cities in China. These stakeholders want the most expedient route, often including a possible visit to their children’s college…so no changing planes. In my experience some of my investors had added residential homes around Dallas to their portfolios as families were moving from the Mid-west to new jobs in the south.

CONTRACT SIGNED
Within 2 weeks of listing
410 West 24th Street #12K

Price $1,195,000 ListingID: 1847319 | Type: Cooperative
Maintenance: $2,269/month
Bedrooms: 1  |  Baths: 1
Ft2/Mt2: 850/79 (aprx)
London Terrace Towers, Chelsea’s most prestigious coop, could be your next home. You’ll fall in love with this fully renovated one bedroom home as it’s the only listing offering a high floor, great light, city views and peace and quiet. By converting the original kitchen to a huge, walk-in closet, the designer created an open kitchen with center island, merging living, dining, and cooking into a loft-like space. Full listing.

S A L E S   E X C L U S I V E   H I G H L I G H T
420 West 25th Street #7B

Price $1,450,000 ListingID: 250540 | Type: Condominium
Common Chgs: $1,360/month | RET: $1,371/month
Bedrooms: Loft  |  Baths: 1
Ft2/Mt2: 1,040/97 (aprx)
Upon entering this light-filled and airy loft you’ll understand why this artist chose this dwelling as it defines Chelsea loft living. With soaring ceiling heights of 14 feet, an open floor plan, and a wall of windows bringing in views of the city and Hudson Yards this home provides the perfect balance of space and light. The living area centers around a custom state-of-the-art Italian kitchen with glass paneled surfaces by Schiffini, well-equipped with a double door Liebherr Refrigerator and Freezer, Bosch cooktop, oven, and dishwasher plus a stainless steel vented cook-top hood. The spa-like bathroom is clad in Porcelanosa ceramic tile walls and flooring with Italian-made Teknobili fixtures and a teak vanity features a deep soaking tub with rain shower. Full listing.

S P R I N G   G U I D E
AROUND TOWN THIS SEASON
Spring has sprung in the city and we couldn’t be happier. City-dwellers are filled with a sense of reinvigoration. Springtime is full of opportunity to spend time with family in Central Park, enjoy outdoor food markets in Brooklyn, and spot new talent at the Tribeca Film Festival. Curated with you in mind this guide features the city’s best events and destinations, including fun brunch spots, glamorous philanthropy galas and timeless ballet performances. Enjoy everything the city has to offer this spring!

 N E I G H B O R H O O D   S P O T L I G H T
GREENWICH VILLAGE
Image Courtesy Furnished NY Apartments / Luxury Attaché
This tiny but vibrant neighborhood spans the area between Third Avenue and Sixth Avenue and between 14th Street and East Houston Street. Known to be an area filled with standout dining and culture, it is also the heart of the NYU campus, which gives it an eternally young energy and flair. And, in addition to the constant influx of development today, the area also retains a rich history that dates back to the city’s first settlers. Be sure to check out Luxury Attaché’s in-depth guide to the neighborhood’s must-dos, must-sees, and must-eats!

 F O O D   N E W S
THE CITY’S BEST AL FRESCO DINING
Image Courtesy Narcissa
When living in this glorious concrete jungle, there is no better way to make the most of a sunny day than with a little al fresco dining. We’ve curated a list of our favorite upscale restaurants that offer beautiful rooftop or outdoor dining experiences. Whether you’re dining with friends or entertaining clients, these lovely spots are certain to offer a great meal accompanied by a breath of fresh air.

O U T D O O R   A C T I V I T I E S
TOP TEN WAYS TO OPT OUTSIDE THIS MONTH
Image Courtesy Manhattan By Sail
Opt outside this April with an activity as fun and fresh as the season. Whether you are in the mood for a leisurely stroll, a lovely bike ride, or an outdoor adventure, don’t let the traffic and crowds of the city deceive you; it has everything you need and more! Take advantage of the sunny weather by choosing from one of our top outdoor activity picks for Spring 2017.

H E A L T H   N E W S
TOP NEW YORK CITY RUNNING ROUTES
Image Courtesy Shutterstock / Time Out NY

This time of year, there is no better way to enjoy the city than by making it into your own personal gym. With such a diverse array of running routes, there is a path for every runner. We’ve rounded up our top six and included information on which sneakers you should be wearing on each route. What are you waiting for? Lace up and hit the pavement!

N E W   Y O R K   C I T Y   H I S T O R Y
SECRETS OF THE PARKS
Image Courtesy Untapped Cities
The city’s parks mean a little something different to every New Yorker. For some, Central Park means early morning runs and bike rides, and for others, it’s ricotta pancakes at Sarabeth’s. While everyone has their personal claim to the city’s greatest treasure, few know that hidden somewhere in Central Park a piece of gridlock that holds the whole city together, so to speak. Find out why, and read some other best-kept secrets of New York City’s parks below!
Susan M. Singer
Associate Real Estate Broker
Town Residential
917-207-6368
PET STORIES
Check out a new feature on
www.londonterracestories.com I invite you to send photos and stories about you and your pet. If you’d like to join the fun please email me at sin@townresidential.com, including how and when you were first united.
There’s no place like home

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