Monday, September 14, 2009

~Understated Elegance~


NEW TO MARKET: Quintessential Brooklyn brownstone located on a beautiful tree-lined street in the highly sort after and recently Landmarked area of Prospect Heights. This circa 1901 brownstone sits on a 17' x 131' lot, sprawling near 3100 SF over four floors and currently configured as three separate residences, the garden level and top floor apartments offer full floor 1 BR layouts, and the parlor & middle level are duplexed creating the ideal owners residence. With a versatile layout this could either be kept as is or easily reconfigured as a single family home.

A recent extensive restoration truly sets this home apart. Whilst being updated to include many modern day amenities, the elegance, grace, and charm have been meticulously preserved, as you enter the parlor level lobby, spectacular craftsman details immediately catch the eye, the hand carved door motifs and mirror surround really must be seen to be appreciated.

The spacious owner's duplex features a huge open kitchen, with custom all wood cabinets, granite countertops, a restaurant quality DCS range, stainless steel GE monogram dishwasher, wood paneled twin door fridge/freezer, and an LG washer-dryer combo unit. Enjoy your meals either on the adjacent patio deck or inside in the huge parlor level dining and living room area. Follow the spiral stairs to the upper level with 2 bedrooms and 2 bathrooms, of which the master suite is nothing short of breathtaking, this exquisitely designed bathroom has a cast-iron claw foot tub, glass waterfall inspired sink, and crystal chandelier. This residence also has 4 wood-burning fireplaces that have been stripped & restored to their original detail, and slimline A/C units on both levels.

The garden level apartment could either be left as a second rental unit or easily combined to triplex with the owners residence. The same high quality renovation continues throughout this 1BR apartment and the enormous bathroom features a large soaking Jacuzzi tub that is the perfect place to relax and unwind. However, if you prefer to be outdoors the backyard and garden itself are even more relaxing, this tranquil garden provides an ideal spot to sit and let the days pass by, it also functions as the ultimate entertaining area and is the perfect spot for that 4th of July BBQ.

On the top floor you have the option of further expanding the primary residence or reaping the rewards of a great 1BR rental unit.

Throughout this extraordinary home you'll find beautiful strip & parquet hardwood floors, wood trimmed window & doorways, and a total of 7 fireplaces each with its own uniquely crafted mantelpiece.

Occupying only 17' x 45' of this large lot, there is also an additional 0.65 FAR or 1472 SF of buildable space. New C of O effective 01/2007. Zoned as R6B.

Situated only blocks from some of Brooklyn?s best attractions including the Botanic Gardens, Prospect Park, the Brooklyn Museum of Art, Brooklyn Library, Grand Army Plaza farmer's market, and many of the area's finest restaurants. Also convenient to all major transportation.

Friday, May 29, 2009

~NEW EXCLUSIVE~



~New to Market~Murray Hill 1 bdrm priced to sell! very high floor, maximun sunshine. Spacious living room with dining alcove. Separate kitchen has mirrored backsplash, granite countertops, and marble floors. tons of closet space, 2 deep closets in the hall and 2 deep closets in the bedroom. Enjoy breathtaking views from the rooftop terrace or have an intimate BBQ in the private garden. Pied-e-terre allowed, parents buying for children allowed, storage, 24 hr Drmn bldg. Make an offer!

Friday, September 19, 2008

I wanted to share this email with you all that I received from our firm's president...

Please be advised that tonight’s episode of “20/20” will include an interview with Brown Harris Stevens agent Kathy Sloane in which she claims that “Manhattan’s finest co-op apartments may have already lost a fourth of their value as a result of the financial crisis.”



So far, we have no evidence to support that claim. We have not seen a wave of panic selling; on the contrary, many homeowners have taken their apartments off the market until the economic news sorts itself out. Many of our buyers have adopted a wait-and-see stance.



Moreover, co-op values tend to fluctuate at a more glacial rate in comparison with other property types. Owners of co-ops have lots of equity in their apartments and co-operative rules do not allow for lots of leveraging. So even if prices are dropping, the idea that co-op values could plummet so perilously in so short a time is not borne out by history or circumstances.



What is occurring on Wall Street is still unfolding and it is completely premature to state what the ultimate impact of these events will be. Today’s announcement by the federal government and yesterday’s and today’s bullish stock market activity are very positive signs. While the economy, financial services market and personal financial investments are indeed taking a hit right now, this is the time where in past financial cycles where we real estate brokers previously saw a renewed interest in people investing and putting their money into tangible assets like real estate. The current credit crunch is different than previous shocks to the financial system so making predictions about demand for housing is difficult, but we remain optimistic.



The market is in a state of flux but New York has been through down cycles before. We also benefit from a strong demand for housing by virtue of our status as a global city. Real estate values don’t ever reset to zero like you see happening in the equities market. They’re not making any more land, and NYC real estate has always held a higher value relative to other markets. Cash is king right now and those cash buyers will be in a strong position during this unsettled period.



Over the long-term, real estate has always proven to be a solid investment. While the news from Wall Street will have some immediate effects on those that have been directly impacted, the long term health and outlook of the NYC market is not in doubt.



Those of you who worked in the industry will recall how some observers predicted the demise of Manhattan real estate after the events of 9/11 with rumors of a mass exodus to the suburbs. It never amounted to anything – in fact, the opposite turned out to be true. People flocked to New York City. The same magic that drew them to this great city then will continue to call them in the future.







Gary L. Malin, President

Citi Habitats

250 Park Avenue South, 11th Floor

New York, NY 10003
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