2015 - Multi-Million Dollar Club

What a great way to start the New Year!
I'd like to thank my customers, family and friends for making 2015 another successful year.

What You'll Get Across NYC for $650,000

Many thanks to BrickUnderground for featuring us in yesterday's article about affordability and $650,000 price points across NYC. 242 South 1st Street is just a block away from the Grand Street Shopping District (home of the upcoming Whole Foods and Apple store), and several more blocks from the Bedford Avenue strip and L train. The Marcy Avenue J, M, Z is also just short walk away. Truly a superb opportunity to explore and experience Williamsburg's hottest venues, restaurants, bars, shopping and nightlife at your fingertips! 

Check out our listing and the rest of the article in the following link! 

Read more here: http://goo.gl/lJrmle

125 N 10 - Another Successful Transaction

Jeff has lived at 125 N 10 for nearly 5 years now and has had great success at both selling and renting. He takes great pride in presenting the building and what it has to offer. He just sold this triple mint, bright, south facing, ground floor, 1-bedroom, 1-bathroom residence in your building. In today’s complex real estate market, it is imperative to work with an expert who understands the unique process of selling in your specific building and neighborhood. 

Jeff offers a tailored marketing strategy with maximum exposure, insightful valuation and a keen focus on bringing the transaction to SOLD. If you are considering selling your home or buying in Brooklyn or Manhattan, call Jeff. He meets the challenge!

See property here: http://www.corcoran.com/nyc/Listings/Display/3514007

Another Signed Contract!

Another Signed Contract! http://goo.gl/cV0zWJ

We recently placed a 1 bedroom under contract for sale. With a minor renovation, tremendous exposure and a tailored marketing strategy, we achieved top dollar for the sellers. After owning the apartment for only 2 years, the sellers made an impressive return on their investment. This is our second successful transaction in the building this year.

Bel Canto is a full service, luxury, high-rise condo building providing 24-hour doorman, onsite superintendent, and a central laundry room on the lower level. All of the hallways and lobby have been recently renovated with tasteful and high end finishes, creating a boutique look and feel with only 3 apartments per floor. Conveniently located between Central and Riverside Parks, the apartment is only minutes from Lincoln Center, Julliard, Fordham University, and Columbus Circle and offers easy access to the 1/2/3 and A/B/C/D subway and several bus lines. Superb location by the Apple Store and Loews movie theater, and near to Trader Joe's, Whole Foods, Fairway, farmers market, and the Upper West Side's best restaurants, shopping, gyms, and cultural activities. Pets, Guarantors, Co-purchases, Investors, and Pied-a-terres: all are permitted.

New Studio Listing in Williamsburg!

242 South 1st Street, 2F

Here's Your Chance to own a REAL Williamsburg LOFT! This stunning and sunlit studio LOFT plus Balcony is in Williamsburg's sought after LOFTS1 Condominium. Formerly a cheesecake factory built in 1911, this four story Williamsburg conversion is complete with fine finishes and modern amenities while preserving much of its authentic pre-war warehouse detail including wide plank maple wood flooring and the original exposed concrete beamed ceilings. There are upgrades galore including ceiling fan with LED light, window in wall, German-made ironwork outdoor lighting fixture, entryway LED lighting fixture, o
verhead chandelier, a custom Murphy bed and closet system and automatic blackout blinds

The building is a block from the Grand Street Shopping District (home of the upcoming Whole Foods and Apple store), and several more blocks from the Bedford Avenue strip and L train. The Marcy Avenue J, M, Z is also just short walk away. Superb opportunity to explore and experience Williamsburg's hottest venues, restaurants, bars, shopping and nightlife at your fingertips! Pets are allowed. Interior photos will be posted over the weekend.

For more details, click Here

Partner with Other Businesses to Generate Referrals

Many thanks to Daniel for the opportunity to speak about BNI. Referral marketing could truly benefit any professional's business and help diversify across industries. Below is an excerpt from our Q&A session and underneath that is the link to the MadPipe podcast. 

"Your marketing is too important to take on alone. One important step is getting a digital strategist like MadPipe. Generating referrals is about collaboration, trust, and commitment to a process. Jeff Nolan, residential real estate agent with Corcoran founded BNI 45 in Manhattan, a referral marketing group made up of other professionals in a diversity of industries. As president of that BNI chapter, “The Breakfast of Champions”, he has a vision for how to grow companies and increase the clientele of individual professionals. Daniel DiGriz, Director Strategy at MadPipe, asks Jeff how effective referral marketing works, what kinds of businesses can benefit, and how to navigate the commitments it requires. If you’re wanting more clientele with better return on your marketing investment and less competition to wrestle with, you owe it to yourself to listen to this podcast." ~Daniel DiGriz

Read more here: http://madpipe.com/madcast/partner-with-other-businesses-to-generate-referrals/

New Williamsburg Listing!

125 North 10th Street, S3I

This bright, beautiful, mint condition, southern facing 1-bedroom, 1-bathroom residence offers 823 interior square feet and 82 exterior square feet. Features include ceilings over 10-feet high, beautiful walnut floors, a Living/Dining room large enough for a full-sized dining table and a state-of-the-art kitchen with custom cabinetry, recycled glass counter-tops and stainless appliances. The bathroom features a large soaking tub, custom vanity and over-sized Italian porcelain tiles. The master bathroom is spacious with two walk-in closets and large enough for a King-sized bed and much more. There is a stackable LG washer/dryer in the apartment, as well as central A/C and ample storage space.

125 North 10th is the premier full-service condo building on the prime North side of Williamsburg. Perfectly triangulated, it is located just three blocks from the first Brooklyn stop on the L train, two blocks from McCarren Park and the waterfront East River State Park, and just 10 minutes from Union Square. Amenities include a 24-hour concierge, two common roof decks, sculpture garden/courtyard, wellness floor with a gym and body-work studio, play room, multi-media room and billiard lounge. Pets are allowed. 

For more details, click Here

The history of keys goes back for thousands of years, reaching the very first moments when modern human civilization established their reign and started developing sciences and technologies enabling the birth and growth of our present way of life. Even in those ancient times, people wanted the ability to safeguard their possessions and store them in places where nobody else could have access to them. 

For that purpose , engineers, designers and scientists created the first example of keys. Keys represent possession and when speaking about residential real estate, possession is 9/10ths of the law. You provide the keys to the buyer when selling and hopefully obtain a fair value in exchange, A more memorable experience is when you obtain the keys to your new home. We strive to be present in these joyful moments and ensure you maximize your investment. Call us today for a complimentary market evaluation. 

Listings in Manhattan:

269 West 72nd Street, 6CD
http://www.corcoran.com/nyc/Listings/Display/3482238

1991 Broadway, 3C
http://www.corcoran.com/nyc/Listings/Display/3497266

Imagine the Possibilities...

You moved to Williamsburg some time ago and for whatever reason, you are now considering other options. In fact, this is the perfect time to consider your options! In real estate, a practical and emotional approach are both important, however, you may not be comfortable crunching numbers to help determine your next steps. Whether you're selling or moving up from a rental, there is no need for concern. The experience should be positive and the steps should be laid out clearly so you can focus on considering and comparing your opportunities.

If you have questions about the critical elements of selling and buying (price, rates, terms and market timing) or want to know how to make your real estate transaction seamless, we have the answers. As a fellow Williamsburg homeowner, I am constantly monitoring market activity, and can offer specialized insight in a way that can only be done by a Brooklyn neighbor.

New Listings in Brooklyn:

125 North 10th Street, SGARDENE

http://www.corcoran.com/nyc/Listings/Display/3514007

15A Berkeley Place, 3B

http://www.corcoran.com/nyc/Listings/Display/3484257

Draw Where You Think Your Neighborhood Borders

"New York is a city of neighborhoods, and debating where those neighborhoods begin and end is a time-honored tradition. Longtime Lower East Siders reject its subdivision into the East Village. Uptown Manhattan residents feud over whether Thayer Street is part of Inwood or Washington Heights. Some Brooklynites insist 4th Avenue is in Park Slope, while others insist it's Gowanus.

"You could take two people who live side by side and ask them 'what are the boundaries of the neighborhood in which you live?' and you'll get two answers," Bronx historian Lloyd Ultan said.

It turns out there's a good reason those debates haven't been settled: the city doesn't have official neighborhood boundaries. According to Department of City Planning spokeswoman Rachaele Raynoff, officials have a general idea of where neighborhoods are and even has a map of the city's neighborhoods, but lines are a different story.

"We've never put down boundaries," Raynoff said. "Community districts are what are in the City Charter." City Planning does have something called a "Neighborhood Tabulation Area," but Raynoff stressed that these lines are only approximations of neighborhoods created purely for statistical purposes. So with no official answer coming, we're leaving it to you, dear readers: use the map to draw where you think your neighborhood's borders are.

When you finish you can compare your boundaries to those of other residents in your neighborhood — and once we've collected enough results we'll share the consensus and see if we can finally settle this feud once and for all."

~ Nigel Chiwaya | August 11, 2015

Renovating your Dream Home

If you play your cards right, buying a charming fixer upper to renovate can be a very profitable venture. See below for some tips on how to stack the deck in your favor.

1.    Buy for the right price! An ideal purchase is a truly dated property. The one most people would enter and say, “Oh my God! This is going to take a lot of work…” or the one that has just been so distastefully decorated that the average buyer cannot look past the atrocities. These properties are typically priced well below market and without much interest the perfect opportunity may present itself to snag a deal. 

2.    Good Bones is a must. For a Condo or a Co-op you are generally looking for cosmetic fixes, a new kitchen, new bath, refinishing the floors and painting the walls. Be certain that your construction plans are feasible, both financially and legislatively. Some buildings, particularly co-ops, have very strict rules about wet over dry, adding a washer/dryer in the unit and how construction should be done. Be sure to have your attorney ask about this information prior to closing the deal. If you are buying a townhouse, a home inspection is a must. These are typical townhouse expenses; new roof: $10,000 - $20,000, new windows: $10,000, new plumbing: $10,000 and new electrical: $8,000. Be cautious of any structural issues. A little settling is normal, but heavy leans or horizontal cracks in the foundation are a good indication the property does not have “good bones”.

3.    Add onto the building if you can. If you are buying a townhouse, look at the Floor to Area Ratio (FAR) of the property. This will let you know how many additional sqft you are allowed to add on via the department of buildings. As real estate values are generally devised from square footage, adding square footage is the surest way to increase your property value. IE: a three unit townhome with two thousand square feet and a purchase price of $1,440,000, or $699 per sqft. The owner does a full scale renovation including a three story addition of 383 sqft for a cost of $250,000. The new home is 2443 square feet, which at the pre-renovated price per square foot would be valued at $1,707,657 and completely cover the cost of the renovation. The new renovation price per square foot would be higher ($100 - $200 more) than it was pre-renovated, and all of that becomes pure profit. When doing your calculations, everything that was added counts towards your FAR, even a deck.

4.    Renovate with others in mind. If you are planning to live in your home after renovating, think of the needs of your family. Do not get too specific in terms of taste or layout, as you want your space to translate well for the next buyer. Avoid this mistake: While an oversized master suite or an open living room may be ideal for your family, never take a three bedroom down to a two because you are cutting your resale value immediately. Likewise, while you may love rose patterned tiles, it is better to keep the tiles neutral and opt for rose patterned towels instead.

5.    Choose your finishes wisely. There are certain items that make an apartment’s entry a “wow moment” and can also make the entire unit feel very luxurious, thus upping the value. Standout items such as kitchen appliances or high end countertops can go a long way to hiding Ikea or other pre-fab cabinets. Another trick: Use high end hardware and faucets to make a cheap vanity look polished and well done. Be wary of paying for the brand name, however. While a professional grade stove may be on everyone’s wish list, paying for Viking or Subzero may not be the only way to go. The best finishes on the market might not significantly increase your return so spend $300 - $500 for a moderate, beautiful piece. Finishes rapidly increase the budget so it is important to have a few splurge items that will really elevate the look of your home.

6.    Get the right help. If you are renovating in New York, you will need a licensed and insured contractor, an architect and an expeditor if there is any potential structural work. If possible, always use a referral from someone you know. Your real estate broker can be a valuable resource as well. Check your local websites for helpful information. Brownstoner.com and Brickunderground.com cover everything under the sun. Lastly, make sure to do a full internet search on everyone you hire. I have heard horror stories from people trying to get contractors and subcontractors to show up, only to find they are wanted in New Jersey for defrauding customers! 

7.    If the project is DIY (Do It Yourself), make sure to have plenty of time and patience to get the job done. Generally speaking, it is best to leave the work to the professionals because you never know what you are going to find. The potential to further damage your home is not worth the risk. Alternatively, you can build your own Ikea furniture or cabinets and/or paint the walls to satisfy your DIY yearnings.

8.    If you have any kind of structural work or additions taking place in your home, the approval of the Department of Buildings will be needed prior to any permits being issued and any work being done. In this case, the architect and expeditor are the ones who will handle everything with the Department of Buildings. Therefore, the architect and his expediter are the two most important individuals on your team. Anticipating, deciphering and fulfilling the needs of the DOB is a true art form and if you have someone who knows how to do this properly it can save you time, aggravation and money. Be sure you feel comfortable with your selections here and know that what the DOB says - goes. The renovation process could take months so expect changes, additions and several rejections prior to approval.

9.    When all is said and done, renovating is really worth it. Finding a well valued property and doing the renovation work can lead to a large return on investment. Especially if the project is completed logically and efficiently.

Here are some examples of real New Yorker's who have been there, done that and are smiling all the way to the bank!

749 Union Street, Apt 1L
Purchased for: $640,040
Sold for: $975,000
Approximate Renovation Cost: $75,000
Approximate Profit: $259,960

198 11th Street (Townhouse)
Purchased for: $1,440,000
Estimated Market Value: $2,100,000
Approximate Renovation Coast: $300,000
Approximate Profit: $360,000

"Drinking Kool-Aid keeping Corcoran’s Jeff Nolan at top of his game"

Many thanks to Holly Dutton! See below for an excerpt of her article:

"When Nolan was first starting out at Corcoran, he met a woman through networking that became one of his first clients, and he helped her purchase an apartment. Six years later, she called him up out of the blue, saying she was looking to get into real estate.

“I said, work for me,” said Nolan. With that, she became his assistant, and then later, moved up to become a salesperson with Corcoran, where she still works.

Nolan estimates that in the seven years he’s been in the residential real estate industry, he’s generated..."

Real Estate Weekly Article by Holly Dutton