Another residential conversion on deck for Williamsburg's Kent Avenue
The lively area of Kent Avenue in Williamsburg is set to get another housing development. Plans for the warehouse, located at 484 Kent Avenue which is between South 10th and 11th streets, have now been filed for the building. It will comprise of 30 residential units being constructed on the second and third levels. The previously bankrupt developer Isaac Rosenberg has proposed these plans although it remains unclear whether he will sell the remaining units or rent them out.
http://therealdeal.com/newyork/articles/another-residential-conversion-on-deck-for-williamsburg-s-kent-avenue-by-isack-rosenberg-at-484-kent-avenue
Friday, July 8, 2011
Thursday, July 7, 2011
Transformation of Tiny Spaces
Imagine owning an 8,250 square foot apartment in the heart of any neighborhood you want for less than 1M. While this may seem unrealistic an architect in Hong Kong found a way to make it possible.
Many of us understand what it is like to live in small spaces. Hong Kong is no different. They are very familiar with cramped living – to the extreme! The population there is enormous, and there simply isn’t enough living space to house everyone comfortably. Large apartments are extremely expensive and only available to a small number of people. Thus, entire families are forced to live in tiny apartments.
For one man, however, living in a 344 square foot apartment with his parents and sister was simply not an option. He transformed his apartment into… well… a transformable apartment. Through careful use of wheels and tracks, the entire apartment can be customized into 24 distinct designs. 344 square feet, 24 different designs, 8,250 distinct square feet.
You have to see the video for yourself:
Imagine owning an 8,250 square foot apartment in the heart of any neighborhood you want for less than 1M. While this may seem unrealistic an architect in Hong Kong found a way to make it possible.
Many of us understand what it is like to live in small spaces. Hong Kong is no different. They are very familiar with cramped living – to the extreme! The population there is enormous, and there simply isn’t enough living space to house everyone comfortably. Large apartments are extremely expensive and only available to a small number of people. Thus, entire families are forced to live in tiny apartments.
For one man, however, living in a 344 square foot apartment with his parents and sister was simply not an option. He transformed his apartment into… well… a transformable apartment. Through careful use of wheels and tracks, the entire apartment can be customized into 24 distinct designs. 344 square feet, 24 different designs, 8,250 distinct square feet.
You have to see the video for yourself:
April saw Higher Housing Prices
The average housing prices increased for the first time in eight months during April as the spring surge in activity caused a 0.7% increase in average price according to the house price index by Standard &Poor’s/Case-Shiller. The strong performance in the real estate market this month however does not indicate a recovery has begun and it will take several months of continued increases to confirm that the market has bottomed out across the country. One undeniable fact is that this is a positive result for the struggling housing market.
The average housing prices increased for the first time in eight months during April as the spring surge in activity caused a 0.7% increase in average price according to the house price index by Standard &Poor’s/Case-Shiller. The strong performance in the real estate market this month however does not indicate a recovery has begun and it will take several months of continued increases to confirm that the market has bottomed out across the country. One undeniable fact is that this is a positive result for the struggling housing market.
http://www.usatoday.com/money/economy/housing/2011-07-01-home-prices_n.htm
Renters See Prices Skyrocket
After the recession period of low rental prices and desperate landlords, the rental market is improving strongly. During the past twelve months the average rental rate for homes and apartments has increased by 6.7%. The studio apartment market is particularly strong with a 14.3% increase and this is mainly because vacancies are down by nearly 2% across the board. The signs in the rental market are so encouraging that developers are starting to plan new apartment buildings due to be finished in 2013.
After the recession period of low rental prices and desperate landlords, the rental market is improving strongly. During the past twelve months the average rental rate for homes and apartments has increased by 6.7%. The studio apartment market is particularly strong with a 14.3% increase and this is mainly because vacancies are down by nearly 2% across the board. The signs in the rental market are so encouraging that developers are starting to plan new apartment buildings due to be finished in 2013.
http://blogs.smartmoney.com/paydirt/2011/07/05/renters-see-prices-skyrocket/
Wednesday, July 6, 2011
Manhattan residential market held on in 2Q
Real estate brokers are being surprised at the moment by how steady the market is, during the second quarter mean prices increased and the average time an apartment spent on the market was consistent with the ten year average; surprising given the uncertainty hanging over the U.S. economy at the moment. Even though the performance wasn’t nearly as strong as last year’s second quarter this is because the tax credit for first time buyers was due to expire causing a boom in the market.
http://www.corcoran.com/news/index.aspx?page=Article&pub_id=12677
Real estate brokers are being surprised at the moment by how steady the market is, during the second quarter mean prices increased and the average time an apartment spent on the market was consistent with the ten year average; surprising given the uncertainty hanging over the U.S. economy at the moment. Even though the performance wasn’t nearly as strong as last year’s second quarter this is because the tax credit for first time buyers was due to expire causing a boom in the market.
http://www.corcoran.com/news/index.aspx?page=Article&pub_id=12677
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