East Side vs. West Side
With the popularity of TriBeCa, the West Village, Chelsea and the soon-to-be-developed Midtown West, Manhattan residential real estate has been slanting westward for several years now. But with the first phase of the new Second Avenue subway headed toward completion, and several new projects in development, the East Side is ascendant.
Apartment 3D at 325 East 77th Street is down to $1,149,000 thanks to a major price reduction. At around 1,100 square feet, the two-bedroom co-op features a newly renovated, loft-like open kitchen and dining area above a quiet, treelined street of mid-rise co-ops and townhouses.
"This prewar building is a very vibrant community of sweet people who all seem to get along," said Jeffrey Tanenbaum, sales agent with Halstead Property, who knows the building well. "They just finished a common roof deck for the building, and offer a garden, bike storage, a live-in super and a great management company, not to mention an eight-foot storage cage for each apartment, which is immense. People buying in this building seem to be extremely happy with it."
Chelsea is equally popular, and offers a broad range of housing options, some at bargain prices. Around the corner from Google's New York headquarters, Apartment 1C at 250 West 15th Street is a four-room garden duplex, built in 1930, and currently on the market for $1,299,000. The lobby of the prewar building is distinctively sleek and modern, but the apartment, tucked away on a side street not far from the High Line, retains its prewar charm with a wood-buring fireplace.
The co-op unit is approximately 800 square feet, not including the 33-foot deep garden, which has room for an expansion. "The recessed lighting, new kitchen and the expanded upstairs bathroom were done two years ago with Porcelanosa tiles, Duravit fixtures, rain shower, Toto toilet and brand new HVAC units, along with the new floors downstairs." noted Jay Overbye, associate broker with Halstead Property. "The deep living room upstairs could easily be converted to a home office, or an extra bedroom."
Thursday, January 08, 2015