Explore Manhattan, NY

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 5
The other day I was discussing a building's financials with a buyer. When a buyer makes an offer it is normally the procedure for a seller or seller's agent to provide the buyer or buyer's attorney with the last two years financials.Every building has an audit from an independent accounting firm ...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 3
        In May 2003 a study was conducted by Michael H. Schill, director of the Furman Center for Real Estate and Urban Policy at New York University; Jonathan Miller, president of Miller Samuel, millersamuel.com a leading Manhattan appraisal company; and Ioan Voicu, a research fellow at the Furm...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 29
The flip tax is a transfer fee that many new york coops and condos impose on shareholders and owners. In the early 80's when many rental buildings converted, huge profits were being made by former renters who bought their units at inside prices and then resold them. Called "flipping" The boards d...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 10
A co-op is a form of home ownership that is different than owning real property such as a condo or a house. In a coop each unit is allocated shares. The purchaser buys the shares in the housing corporation. Co-ops are corporations with a board of directors and shareholders. Coops are unique to NY...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 8
50 West 86th Street Tom Cruise has been on the news and in the papers these past few days for being fired by Paramount pictures for jumping on Oprah's couch and talking about Scientology. Since this is a real estate blog I won't comment on that. However I will comment about the building that bot...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 17
 THE DAKOTA 1 West 72nd Street  at Central Park West  In 1884, the New York Daily Graphic called it: "one of the most perfect apartment houses in the world" Today more than 100 years later, the Dakota still has fabulous apartments and magnificent views. Some of The Dakota's most famous former and...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 6
I've been reading many posts about Open Houses, I can see why they might not be effective in many markets.In Manhattan we do not have lock boxes or keys available to show a property. In Manhattan the listing agent is almost always present during a showing. An appointment has to be made with the L...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 0
In Sunday April 20, 2006 New York Times Real Estate section the feature story By Vivian S. Toy is titled                     Lets Make A Deal.  http://www.nytimes.com/pages/realestate/index.htmlIt has a picture of an apartment with a divider down the middle called asking price and a buyer and sel...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 5
The current issue of New York Magazine has an all blue cover with a photo of the top of the twin towers at the bottom. In the middle of the page in white type it reads: WHAT IF 9/11 NEVER HAPPENED? On the top of the page in light blue it reads: FIVE YEARS LATER. In the right bottom corner it read...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 2
Before you come to love Manhattan, you must understand our peculiar housing market. Manhattan is a unique place in the real estate universe. Not only does it have a large rental market (75% of the available housing units vs. about 5 - 10% in other markets), but it has ownership and other importan...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 3
I attended a presentation from brokers marketing a new condo with anticipated closings starting March 2007. They are requiring 10% deposit with signing and another 10% in 90 days. No financing contingencies.When asked why they responded "the developer felt less buyers would walk with 20% invested...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 1
If it's priced right the buyers will bid on it. I recently had a properrty on the market for 6 months.  After 2 price reductions totalling almost $100,000 of the original listing price I received multiple bids. I heard several similar stories from other agents in my office today. One had the prop...

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
(Compass)
Comments 0
There have been lots of blogs and press about ACRIS Automated City Record Information System displaying coop sales records online. Everything from secret plan for the city and state to impose mortgage taxes from appraiser [MillerSamuel] to Jerry Seinfelds signature on a UCC- form. [Gawker] I've b...

Manhattan, NY Real Estate Professionals