Happy Spring, everyone! Lots of news to report! 
  • Corcoran’s Manhattan Q1 Market Report is out with the not surprising data that it is still an excellent time to be a buyer in New York City. However, there are also signs that the market may be turning. The numbers are still down from last year at this time, but there has been improvement since last quarter. Median prices have continued to fall which is good for buyers. Don’t be intimidated by average up-tics being fueled by very high-end condo closings. Days on the market have also continued to increase and the inventory has not been so high since Q1 of 2012. Get the details and information on individual neighborhoods at Corcoran Q1 Manhattan Market Report or contact me and I’ll send it to you directly with any listings you might be interested in.  
  • If that isn’t enough to spur you into action, interest rates are simply beyond belief. Presenters in our office have quoted unprecedented rates close to 3%, and a wide variety of incentives to help qualify non-traditional borrowers. If you have been waiting to buy, there are so many reasons in today’s market to consider making that move now.  
  • The pied-a-terre tax, which would have been a yearly levy on non-full-time homes in New York City, did not go through. Instead, the New York State legislature has agreed on changes to the Mansion Tax which is paid by buyers at the time of purchase, and both City and State Transfer Taxes which are paid by sellers at the time of a sale.  The 1% Mansion Tax for properties of $1 million or more now applies only to homes from $1 million to just under $2 million. The rates then increase with the value of the property. The new rates go into effect on July 1 but apply to contracts signed beginning April 1, 2019. Your real estate attorney will have specifics, or let me know and I will send them to you.    
April in New York 
This month, I’m staying close to home again and focusing on the Lenox Hill section of the Upper East Side. Opinions differ on the actual boundaries, so I’m going to be a bit subjective and define it, as many New York neighborhoods are defined, by what feels like Lenox Hill to me, i.e. the area bounded on the west by Central Park, the east by about Third Avenue and lying on a north/south axis between 79th and the mid- to low 60s. The moniker Lenox Hill is derived from the home of the Scottish merchant Robert Lenox, who owned a 30-acre farm approximately centered at what is now Park Avenue and 70th Street. The farm and surrounding area were rural outposts when most New Yorkers lived below 59th Street, and gradually evolved into a locus of institutions including the Presbyterian Hospital, Union Theological Seminary and the German Hospital, now known as Lenox Hill Hospital and still located in its original location between 76th and 77th streets and between Park and Lexington Avenues. Lenox’s son James built the Lenox Library to the west on Fifth Avenue. It later became a New York Public Library but met its demise when Henry Clay Frick bought the property to build his lavish residence, now the home of the Frick Collection.
 
As a neighborhood today, Lenox Hill mostly retains the feeling created by those stately buildings of yesteryear. The mansions and pre-war apartment buildings along Fifth Avenue give way eastward to townhouses and brownstones along tree-lined cross streets, dotted here and there with post-war high-rises and newer condominiums. Icons of residential architecture run the gamut from Rosario Candela’s opulent 720 and 740 Park Avenue to the mid-century modern Manhattan House just east of Third Avenue on 66th Street. Other architectural points of interest include the Brutalist Met Breuer, formerly the Whitney Museum of American Art, designed by Marcel Breuer and completed in 1966 at the corner of Madison and 75th Street, and the Asia Society headquarters on Park Avenue at 70th Street, designed in 1980. A few blocks south on Park Avenue is the 7th Regiment Armory, built with private funds in 1880 for the 7th New York Militia Regiment, known as the Silk Stocking Regiment because so many of its members were among the city’s social elite. With its interior boasting the design of Stanford White and Louis Comfort Tiffany, the Armory is now an active venue for exciting, alternative art, music and theater productions. 
 
Nightlife is lively over on the eastern edges of the neighborhood where restaurants and bars are frequented by twenty- and thirty-somethings, and more subdued to the west where the sun goes down over Central Park and chicly turned out diners gather over martinis and Michelin-starred cuisine at such tony eateries as Daniel and Bistro Boulud.  
 
Homes in Lenox Hill are, in a word, gracious. The apartment buildings are largely full-service co-ops and even units with fewer rooms tend to be spacious. With so much of the housing stock being pre-war, there are fewer of the amenities now popular in new condominiums, but many buildings have created excellent gyms and sometimes roof-decks, although the upper floors of the more luxurious buildings tend to be occupied by penthouses. At the moment, the average apartment on the market in Lenox Hill is a classic six with 2 bedrooms at close to 2,000 square feet and priced at $4.7 million. But, on the market are one-bedrooms starting as low as $439K, two-bedrooms from $850K, and three-bedrooms from $1.3 million. And of course, there are the townhouses that serve a wide range of purposes from single family homes to galleries, private foundations, clubs, restaurants and boutiques. It’s a great neighborhood for singles, families and empty-nesters at every time of year. There’s a definite rhythm to the streets from weekdays to weekends and across the seasons. Especially at this time of year it’s just so refreshing to stroll along the side streets where townhouses are sporting violet-bedecked window boxes, daffodils are blooming at the base of flowering trees, and Park Avenue will be resplendent with its annual tulip extravaganza.  Come savor it for yourself!  
COUNTRY GIRL IN THE CITY
MANHATTAN  |  APRIL 2019
Happy Spring, everyone! Lots of news to report! 
  • Corcoran’s Manhattan Q1 Market Report is out with the not surprising data that it is still an excellent time to be a buyer in New York City. However, there are also signs that the market may be turning. The numbers are still down from last year at this time, but there has been improvement since last quarter. Median prices have continued to fall which is good for buyers. Don’t be intimidated by average up-tics being fueled by very high-end condo closings. Days on the market have also continued to increase and the inventory has not been so high since Q1 of 2012. Get the details and information on individual neighborhoods at Corcoran Q1 Manhattan Market Report or contact me and I’ll send it to you directly with any listings you might be interested in.  
  • If that isn’t enough to spur you into action, interest rates are simply beyond belief. Presenters in our office have quoted unprecedented rates close to 3%, and a wide variety of incentives to help qualify non-traditional borrowers. If you have been waiting to buy, there are so many reasons in today’s market to consider making that move now.  
  • The pied-a-terre tax, which would have been a yearly levy on non-full-time homes in New York City, did not go through. Instead, the New York State legislature has agreed on changes to the Mansion Tax which is paid by buyers at the time of purchase, and both City and State Transfer Taxes which are paid by sellers at the time of a sale.  The 1% Mansion Tax for properties of $1 million or more now applies only to homes from $1 million to just under $2 million. The rates then increase with the value of the property. The new rates go into effect on July 1 but apply to contracts signed beginning April 1, 2019. Your real estate attorney will have specifics, or let me know and I will send them to you.    
April in New York 
This month, I’m staying close to home again and focusing on the Lenox Hill section of the Upper East Side. Opinions differ on the actual boundaries, so I’m going to be a bit subjective and define it, as many New York neighborhoods are defined, by what feels like Lenox Hill to me, i.e. the area bounded on the west by Central Park, the east by about Third Avenue and lying on a north/south axis between 79th and the mid- to low 60s. The moniker Lenox Hill is derived from the home of the Scottish merchant Robert Lenox, who owned a 30-acre farm approximately centered at what is now Park Avenue and 70th Street. The farm and surrounding area were rural outposts when most New Yorkers lived below 59th Street, and gradually evolved into a locus of institutions including the Presbyterian Hospital, Union Theological Seminary and the German Hospital, now known as Lenox Hill Hospital and still located in its original location between 76th and 77th streets and between Park and Lexington Avenues. Lenox’s son James built the Lenox Library to the west on Fifth Avenue. It later became a New York Public Library but met its demise when Henry Clay Frick bought the property to build his lavish residence, now the home of the Frick Collection.
 
As a neighborhood today, Lenox Hill mostly retains the feeling created by those stately buildings of yesteryear. The mansions and pre-war apartment buildings along Fifth Avenue give way eastward to townhouses and brownstones along tree-lined cross streets, dotted here and there with post-war high-rises and newer condominiums. Icons of residential architecture run the gamut from Rosario Candela’s opulent 720 and 740 Park Avenue to the mid-century modern Manhattan House just east of Third Avenue on 66th Street. Other architectural points of interest include the Brutalist Met Breuer, formerly the Whitney Museum of American Art, designed by Marcel Breuer and completed in 1966 at the corner of Madison and 75th Street, and the Asia Society headquarters on Park Avenue at 70th Street, designed in 1980. A few blocks south on Park Avenue is the 7th Regiment Armory, built with private funds in 1880 for the 7th New York Militia Regiment, known as the Silk Stocking Regiment because so many of its members were among the city’s social elite. With its interior boasting the design of Stanford White and Louis Comfort Tiffany, the Armory is now an active venue for exciting, alternative art, music and theater productions. 
 
Nightlife is lively over on the eastern edges of the neighborhood where restaurants and bars are frequented by twenty- and thirty-somethings, and more subdued to the west where the sun goes down over Central Park and chicly turned out diners gather over martinis and Michelin-starred cuisine at such tony eateries as Daniel and Bistro Boulud.  
 
Homes in Lenox Hill are, in a word, gracious. The apartment buildings are largely full-service co-ops and even units with fewer rooms tend to be spacious. With so much of the housing stock being pre-war, there are fewer of the amenities now popular in new condominiums, but many buildings have created excellent gyms and sometimes roof-decks, although the upper floors of the more luxurious buildings tend to be occupied by penthouses. At the moment, the average apartment on the market in Lenox Hill is a classic six with 2 bedrooms at close to 2,000 square feet and priced at $4.7 million. But, on the market are one-bedrooms starting as low as $439K, two-bedrooms from $850K, and three-bedrooms from $1.3 million. And of course, there are the townhouses that serve a wide range of purposes from single family homes to galleries, private foundations, clubs, restaurants and boutiques. It’s a great neighborhood for singles, families and empty-nesters at every time of year. There’s a definite rhythm to the streets from weekdays to weekends and across the seasons. Especially at this time of year it’s just so refreshing to stroll along the side streets where townhouses are sporting violet-bedecked window boxes, daffodils are blooming at the base of flowering trees, and Park Avenue will be resplendent with its annual tulip extravaganza.  Come savor it for yourself!  

Robin J Roy, MBA

On the market
325 East 72nd Street, 15A
You know I'm going to love this building on beautiful East 72nd Street that sports a brick-paved garden with a fountain off the lobby and a gracious roof deck where you can grill or sun to your heart's content. Ellen Sykes' listing, Apt. 15A, is a two-bedroom that is nothing short of elegant and stunning. The versatile floor plan even offers the possibility of a second bathroom if you wish.

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200 East 61st Street, 23B
Or maybe you want a drop-dead view (scroll down to see it!). Check out Ellen Sykes' terraced one-bedroom condo listing where you can see forever to the west. Just imagine the sunsets! A stone's throw from Bloomingdale's, the Lexington Avenue subway or the new Q line on its east-west leg at 63rd Street. A fantastic choice for a pied-a-terre or a chic starter home. 

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118 East 60th Street, 12F
This south facing one bedroom listed by Carnegie Hill colleagues Marie Schmon and Cesar Romero offers a lot at a very competitive price. Located just off Park Avenue, it's at the crossroads of the Upper East Side and East Midtown; so convenient to work, shopping, dining, recreation and entertainment!

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Market news
Five Trends That Will Impact Real Estate Investing This Year
There are many trends that could continue to drive real estate values.
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YIMBY Tours Supertall Views From 35 Hudson Yards With Architect David Childs
Another major milestone was reached last Friday in conjunction with the celebratory opening of Hudson Yards.
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My Manhattan
Tribeca Film Festival
Since its inaugural year in 2002, it has become a recognized outlet for independent filmmakers in all genres to release their work to a broad audience.
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New York International Auto Show
Ushering in the latest automotive trends, the 2019 New York International Auto Show showcased an incredible collection of cutting-edge design and extraordinary innovation.
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NYC's Taste of the Nation
Join 40 of NYC's hottest chefs, bartenders, and sommeliers at the Brooklyn Expo Center for the food event of the season in NYC!
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Embrace the Warmth
What to do now that temperatures are rising.
Get outside and enjoy the best New York has to offer!

Sakura Matsuri 2019 – Saturday April 27th to Sunday April 28th
Brooklyn Botanical Garden

The Roof Garden Commission: Alicja Kwade, ParaPivot – Beings April 16th
The Metropolitan Museum of Art

Easter Parade and Easter Bonnet Festival – April 21st at 10 AM
Fifth Avenue from 49th Street to 57th Street

New York Tartan Day Parade – April 6th at 2 PM
Sixth Avenue from West 44th to West 55th Street
Robin J Roy, MBA
Robin J Roy, MBA
Lic. as Robin J Roy
Licensed Real Estate Salesperson
(212) 360-2292 (O)  |  (914) 729-4256 (M)
Robin.Roy@corcoran.com
Bio & Listings
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Real estate agents affiliated with The Corcoran Group are independent contractor sales associates and are not employees of The Corcoran Group. The Corcoran Group is a licensed real estate broker located at 660 Madison Avenue, New York, NY 10065. All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. This is not intended to solicit property already listed. Equal Housing Opportunity. All dimensions provided are approximate. To obtain exact dimensions, Corcoran advises you to hire a qualified architect or engineer. ©2019 The Corcoran Group. All Rights Reserved.