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Wednesday, April 30, 2008

Architect Norman Foster: Building on the green agenda

green designThis is a compelling video of Sir Norman Foster that was filmed in Munich in 2007 at DLD (Digital, Life, Design); a conference covering digital innovation, science and culture. He presents a macro view of urban design and public buildings that are sustainable and "celebratory". These are agenda setting ideas. He illustrates them using his own work; including the London Gherkin, and mega scale projects in China and the Middle East. In Manhattan, Lord Foster has completed the striking Hearst building on 57th Street and is working on one of the new towers on the World Trade Center site.

Tuesday, April 29, 2008

Loft building for sale, delivered vacant

9 West 19th streetfor saleThis is a beautiful loft building I'm representing that is being delivered completely vacant— ready for its next owner to make it into a grand townhouse, their company’s first headquarters, residential or commercial lofts with income producing retail that’s ideal for a restaurant or boutique. There's over 10,000 square feet of possibilities here. Its a gem to see. Located in the Ladies Mile Historic District, this 1903 building has an ornate facade, elevator, pressed tin ceilings and exposed brick on some floors. It is in excellent condition, currently configured as retail with four live/work lofts above. Download a property brochure for detailed information; see more pictures and highlights on the listing's page.

9 W19th Street is back on the market and will be delivered completely vacant. We had a deal on this which didn't close— creating an opportunity for a new buyer to maximize the building’s full potential. They will have the versatility to use it, convert it to residential or mixed use as-of-right; or lease it out commercially at current market rates.

There is nothing like it on the market of this quality, versatility and delivered vacant for $8,400,000.

download a property brochure (pdf 635 kb) for 9 West 19th Street
see this listing on web id. 1008807
see this listing on web id. 1008807

Monday, April 28, 2008

Its a real estate market!

Faced with only 24 hours in the day, I've been focusing on my core brokerage business and blogging a bit more lightly recently. I expect that the pace of posts will pick up again moving forward. I'm a real estate broker who blogs, not a blogger interested in real estate. Let's dive right in with today's report on the fickle first quarter of 2008. —Peter

download the Manahattan Q1 2008 corcoran reportdownload the complete Q1.2008 corcoran report
The Manhattan market has been interesting recently. It is hard to characterize it as either a buyer's market, or a seller's market. Its just a real estate market, and a more balanced one than in the last few years. corcoran reportPeople are considering their purchases carefully. We are seeing more offers starting below asking prices, yet well priced apartments are selling briskly, even with multiple offers. There is substantial buyer demand out there, but it's being tempered for the moment by uncertainty in the economy.

Customers are acting more cautiously since the Bear Sterns buyout last month. Whether the hesitation is justified depends on if you feel the fundamentals have actually eroded or not. How much damage to the global economy was caused by the sub-prime crisis is a matter of continuing debate. I've heard it described by some industry leaders as if you had a choice of 10 bottles of water to drink, but you knew that one was poisoned — you wouldn't drink any. The whole thing needs to unwind. However let me point out that the availability of credit for residential purchases has not been affected as much. Most people willing to put 20% down (less in some cases) and who have good credit ratings are still able to get mortgages at historically low rates. It's just a real estate market.


Tuesday, April 1, 2008

Aloha! Paradise awaits on the Big Island of Hawaii

kona country club villas hawaii

Nope, not an April fool's gag. It's been a gray and rainy start to the week in New York City, so let's take a moment for a tropical fantasy, and transport ourselves to our sunny little bit of paradise for sale in the Keauhou Bay Resort, on the Kona Coast, of The Big Island of Hawaii. The photo above shows a slice of the panoramic views from the large lanai, to the blue Pacific Ocean. The sunsets are stunning too. Lead an active lifestyle with all the Big Island can offer or just relax poolside. This condo is in a lush setting that we've had the privilege of enjoying, and are now bringing it to market for the first time in 25 years.

This apartment is in Country Club Villas, which has as its front yard, the 18th hole, on the manicured golf course of the Kona Country Club. The development itself is a meticulously kept, garden-like setting of tropical flowers and plants. It features three swimming pools, hot tubs, and tennis for the exclusive use of residents. The unit has cathedral ceilings, two bedrooms, two bathrooms, and a loft finished in rich native Hawaiian Koa wood that's big enough to sleep additional guests, with a den and home office. The property has good vacation rental income potential too, which can help offset the cost of ownership. This is a well managed property and very easy to own, even half a world away. See more photos and get the full listing details here. Please call our agent and resident property manager Erik Sandberg at (808) 937-7276 to schedule a viewing or to get more information. I'd be happy to answer any questions you may have too.

» Kona, Hawaii condo

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