NYCOpenHouse

The Rent's Too Damn High! Up Over 10% in One Year! Good News Still Prevails for Buyers!

 

 
According to a CitiHabitats Report cited in the Wall Street Journal, One Bedroom Rents in Manhattan are up an average of 9.2% since a year ago.  The increases are even higher- up to 11.3%-  for larger units.  Reason:  Low Supply with a High Demand.  Current vacancy rate is a miniscule .72%  Becoming commonplace:  Rental Bidding Wars.  A Thing of the Past:  Landlord Concessions like one month's free or a contribution towards a broker's fee.  Good News:  With mortgage rates still hovering near all-time low rates, it might be the perfect time to buy!

Laurence P. Mitchell

Upper Westside Grandeur-- Live like Royalty in an Apthorp Penthouse Rental- $3,700!

 
 

As one could imagine, NYC real estate agents get to see an amazing array of residences all over the city-- from Fith Floor Walk-Ups in the West Village to Fifth Avenue Penthouses!  I'm often asked, if I were a new technology billionaire or movie star beloved by even the most persnickety co-op board, where would I choose to live?  After much careful consideration, my heart always points to The Apthorp.  This full block residental landmark on Broadway and West 79th Street is designed in the Italian Renaissance Style inspired by The Pitti Palace in Fiernze (Florence!) and completed over a hundred years ago-- in 1908!  Two vaulted entrances lead to an center courtyard garden complete with manicured shrubbery and fountain- a welcome refuge from the stresses of urban living!  .  Residences are accessed by separate entances in each corner of the quadrant making for an intimate atmosphere though there are over 150 homes here.  Apthorpers enjoy the attentions of a concierge, elevator men and a proper gateman!  Original floor plans show twelve room apartments with six bedrooms, ceilings up to 12 feet tall, mosaic floors, fireplaces--   grand even for the most Gilded of Gilded Agers!

Today, this refined take on Upper Westside living is available as an owner of one of this landmark's multi million dollar condos but like a blue moon, a rare rental will occasionally appear on the market.  And right now is that time for one lucky renter!  A chic one bedroom penthouse (!) with high ceilings, original moldings, central air, chef's kitchen, marble bath (all flooded in a sea of sun!) is seeking a new Lord of the Manor!   Building amentities include a gym, playroom and roof deck.  Live a Kate Middleton life for $3,700 a month!  The keys to your dreams are held by Prudential Douglas Elliman's Avi Lasri who can be reached at 917.662.8535 or alasri@elliman.com.  Start planning your coronation!

Laurence P. Mitchell

 

 

Frank Gehry's New Rental Masterpiece Reigns over Downtown! 8 Spruce Street Leases Start March 1!

 
 

There's a new rental kid in town and word is getting out that this speciman by starchitect Frank Gehry (other commissions include The Guggenheim Museum in Bilbao, Spain and The Walt Disney Concert Hall in Downtown Los Angeles!) is all kinds of sexy-- curvy, tall and one hundred percent dreamy.  Enter the chic, well attended lobby through a private porte cochere to access any of the 900 rental units spanning 76 floors making this address the largest rental property in the Northern Hemisphere!   Floor plans are spacious and airy without being cookie cutter.  Residences are certainly designed and equipped for home chefs-  even the studio kitchens could easily accommodate a family of six!  Stacked washer dryers included in all units so no more basement debates with neighbors on Tide vs. Cheer!  Our friendly but uncompromising tourguide wouldn't allow photographs so you'll have to take my word-- the helicopter views from the 38th floor model apartments were seriously mesmerizing with river to river views chock full with a mishmash of architecture and sky-- simultaneously serene and exciting .  Luxurious amenities are located on the lower floors and include the requisite lounges, gym, pool, sun deck with grilling station, playroom, young adults' game room, dining room and screeining theatre.   Cleverly situated a short distance to City Hall Park and all uptown Express trains.   Rents start around $2,700 for a studio and go up depending on floor and size (largest configuration is a three bedroom).  Right now the developer is offering one month's rent toward the broker's fee on a 13 month lease!  Phase One start dates commence March 1, 2011-- only two weeks until you can claim your stake in the City's newest architectural masterpiece-- get packing!

 

Laurence P. Mitchell