A decline in high-end new development closings brought the average apartment price down from last quarter’s record level in Manhattan. At $1,735,628, this figure was 2% higher than a year ago and the second highest average price on record. The median price of $970,000 was a 7% improvement from the first quarter of 2014. The price increases over the past few years, combined with low inventory led to 8% fewer closings than a year ago.

Resale apartment prices alone remained strong, with the average of $1,530,943 up from both the prior quarter and a year ago. The median resale price reached a new record of $900,000 in the first quarter, and was 6% higher than 2014’s comparable period. Sellers are currently receiving 98.3% of the last asking price for their apartments and have not been forced to adjust prices in most cases.

While the average new development price fell over the past year, this is attributable to a decline in closings at the highest end of the market. On a per square foot basis, the average new development price is actually up 2% from a year ago. Midtown saw the most new development closings in the first quarter, with 25% of the activity.

The full version of the report can be found on the Halstead website, at the link below: 

http://media.halstead.com/pdf/Halstead_QuarterlyReport_1Q15.pdf

We live in a fast-paced, tech-obsessed world and getting a good night’s sleep can be a challenge for most.

Your bedroom should be the most important place in your home that is a serene and tranquil … a sanctuary that melts away your stress and worries.

Several years ago I was completely stressed out. I wasn’t sleeping, and when I did, I tossed and turned all night. I had so much on my plate and my mind was working on overtime.

I started working with Coach Lauree Ostrovsky of Simply Leap. One of the first things she told me was to make my bedroom a sanctuary. At first, I balked saying I didn’t have time to do that. And then I finally realized, I had to.

Not only did I make my bedroom my sanctuary, but I stopped working on my laptop in my bedroom. I made significant changes. Today my bedroom is my sanctuary and I couldn’t be happier. While I still have a lot on mind, I am sleeping better and feel great.

As a real estate broker I suggest this to all of my buyers!

• The first thing to do is invest in a good mattress
• Shut down your digital devices an hour before going to bed
• Remove all electronics and gadgets
• Invest in good linens with a thread count of 400 or more
• Consider a canopy which could make you feel like a Royal
• Keep your bedroom dark
• Keep your room cool
• Paint walls a soothing color
• De-Clutter everything
• Invest in a headboard
• Create a sitting area
• Place a bench at the foot of your bed
• Replace your light fixture with a chandelier
• Add a dressing table
• Meditate
• Keep a gratitude journal. This helps to clear away the stressful thoughts

Be sure to arrange your bedroom with furniture that fits the scale of the room. Choose a bedside table that is the appropriate height for reaching your book or glass so you don’t have to fumble. If you have the space, create a sitting area with a cozy chair and reading lamp so you can curl up with a good book. Don’t overcrowd your bedroom. A trick I learned from designer Vicente Wolfe is to place an oversized mirror propped up against the wall so your room feels larger. If you want a sleek, clean, chic new look, pull up your carpeting and install hardwood flooring.

Your bedroom should be a tranquil getaway from the stresses of your day. It should be used for relaxation and rejuvenation. It doesn’t matter what your style is as long as you go for simplicity. The key to creating a bedroom that is your sanctuary is serenity.

Sending you calm and serene thoughts for your sanctuary!

For the last few years, the wonderful neighborhood of Yorkville has been an eyesore due to the Second Avenue subway construction. Now it’s making a great comeback!

With approximately 78,000 residents, Yorkville is one of Manhattan’s more modest little neighborhoods between 79th and 96th Streets from Third Avenue to the East River, boasting
Coops, new condos, high-rise rental complexes and walk-up apartments in former tenements.

Buyers and renters find Yorkville homes a great value with many more listings to choose from. While you’ll find more Coops in the area, there are still many condos and great rental buildings.

Yorkville’s prices have risen despite the Second Avenue subway construction and planned Marine Transfer station at 91^st Street on the East River.

Studios range from $320,000 to $549,000; one-bedrooms from $600,000 to $1 million; two-bedrooms from $1.2 to $2 million; three-bedrooms from $2 million to $5.5 million; and apartments with four or more bedrooms, priced at over $5 million.

Some assume that Yorkville offers nothing of interest, but many really wonderful restaurants have opened in recent years. The neighborhood’s gem is picturesque Carl Schurz Park one of the city’s best-concealed secrets. It offers 15 acres with a riverfront promenade, two dog runs, playgrounds, basketball courts, roller hockey and a playground at the end of the park for kids of all ages. Nearby is Asphalt Green, a recreation center with an Olympic-size pool and John Jay Park, with 3.3 acres and an outdoor pool. Lovely little enclaves of shops can be found in Yorkville and its specialty food shops are tops in the city … not to mention Fairway Market on East 86^th Street and Whole Foods opening on Third Avenue and 87^th Street later this month.

Co-ops are more prevalent than condos, with studios generally ranging from $350,000 to $500,000; one-bedrooms from $600,000 to $1 million; two-bedrooms from $1.2 to $1.9 million; three-bedrooms from $2 million to $5 million; and apartments with four or more bedrooms, typically made by combining apartments, priced at over $5 million, said Andrea D’Amico, an associate broker with the Corcoran Group who has lived in Yorkville for 15 years.

The average price for condos is “generally 20 to 50 percent higher, depending on building age, amenities and unit condition with new construction being more expensive.

Yorkville also has great schools, both public and private.

Buses run crosstown and the M15 running up First Avenue and down Second. The M31 runs on York Avenue, and numerous buses run along Third Avenue.

Check out Yorkville’s comeback! You’ll be pleasantly surprised!

Two of the biggest events in NYC every February are New York Fashion Week and NYC Restaurant Week.

Mercedes Benz New York Fashion Week, the world’s biggest event in fashion began last week. And even though NYC is seeing the coldest weather we’ve seen in 20 years, New Yorkers, celebrities and visitors are braved it all to Alexander Wang’s show at the pier by the East River where celebs Zoë Kravitz, Natasha Lyonne and swarms of others sat front row to view Wang’s dark, sludgy collection with studs and thick-soled boots.

And Sarah Jessica Parker best known for a role that celebrated fashion, style, New York, and very expensive shoes premiered her own shoes under the label SJP.

Carmen Marc Valvo whose classic artistry and refinement has the unique ability to highlight a woman’s best features through the flawless execution of color and fabric has made him a favorite of celebrities seeking an unforgettable special event look.

Celebs such as Charlize Theron, Naomi Campbell, Jennifer lopez, Eva Longoria, Rhianna, Beyonce, Jay Z, Drake, Heidi Klum, Uma Thurman, Renée Zellweger, Kelley Osbourne, Brooke Shields, Iman, Victor Cruz and many more were in attendance to see the sheer number of amazing designers such as Michael Kors, Christian Siriano, Ralph Lauren, Zac Posen, Donna Karan, Badgley Mischka, Monique Lhuillier, Reem Acra, Jason Wu, and dozens more will mesmerize anyone who loves fashion. Most can be seen by live stream for those who stayed home in their warm NYC apartments in this cold freeze! Click here for the week’s schedule.

NYC Restaurant Week begins February 16^th and runs through March 6^th.

If you live in Manhattan you already know about NY Restaurant Week. If you're new to Manhattan or thinking about relocating to this great city, New York Restaurant Week is definitely something you want to know about!

Every year, twice a year, New Yorkers and those visiting Manhattan get the opportunity to dine in some of the "best of the best" restaurants featuring some of the top chefs in the city, for a three course prix-fixe lunch at the amazing price of $25.00. Some restaurants even offer a three course prix-fixe dinner for $38.00.

NYC Restaurant Week Tips:

Research - Get recommendations from friends and search the Internet for ratings. Most of the participating restaurants are the best that New York has to offer.

Reservations should be made in advance. DO Reserve Early - Normally, getting a reservation at these restaurants is difficult. Plan ahead. Reservations early in the week are usually easier than Thursdays or Fridays. Call to see if there were any cancellations as well.

Dress Code - When dining in New York's best restaurants, dress your best.

A surging local and national economy, low interest rates, foreign investment and record stock prices have kept demand for Manhattan real estate very strong at a time when supply remains constrained. Low supply and the sharp price increases over the past year have led to some buyer frustration, and fewer closings than last year’s comparable period. Despite this, prices for resale apartments have risen over the past year, albeit at a slower pace.

An increase in new luxury development closings helped bring the average price for all Manhattan apartments to a record level in the fourth quarter. At $1,728,831, the average price was 8% higher than a year ago, and broke the prior record of $1,700,581 set in 2014’s first quarter. The median price of $960,000 was 10% higher than a year ago, and the second highest figure ever. Continued low inventory levels, combined with sharp price increases, brought the number of closings down 17% from 2013’s fourth quarter.

The average price for resale apartments of $1,434,037 was 3% higher than a year ago, but down from the prior quarter. The median resale price of $850,000 up 4% from the fourth quarter of 2013, but also down from the previous quarter. Existing condo prices rose at a slightly higher pace than co-ops over the past year, as luxury co-op activity fell in the fourth quarter.

Apartments in new developments sold for an average of $3,186,953 in the fourth quarter, 11% more than a year ago. There were 4 new developments closings for at least $40 million in the fourth quarter, compared to none a year ago. This illustrates the increase in closings at the top end of this market.

The full version of the report can be viewed at the link below:

http://media.halstead.com/pdf/Halstead_QuarterlyReport_4Q14.pdf