Governors Island is a 172-acre island in New York Harbor in New York City. It's one of New York's lesser known tourist sites but that is quickly changing. Governors Island is located 800 yards south of Manhattan, and just 400 yards west of the shores of Brooklyn. This island is small but has big history. It first served as a military post during the American Revolution. From 1783 to 1966, the island was operated by the United States Army mainly as a training facility. In 1966 it became a United States Coast Guard installation until the island was decommissioned as a military base in 1996. Since then the island has been jointly controlled by the National Park Service and a non-profit called the Trust for Governors Island.
The National Park Service administers two former military fortifications on the north side of the island named Fort Jay and Castle Williams. The Trust for Governors Island maintains the remainder of the island which includes 52 historic buildings, abandon military housing, food trucks, art exhibits, and large green spaces. The island is now open to the public from May to September and has become a major tourist attraction. I recently traveled to the island and took some photos of the historic sites and more recently added sections of the park. Enjoy!
Just Listed in Murray Hill! 1 Bedroom/1 Bathroom full-service condo at Manhattan Place. Great layout with views of the Empire State Building. Awesome rooftop with gym, pool, and two outdoor sun decks. Asking $799,000.
See full listing details here
I recently visited the Woolworth Tower in Lower Manhattan. The building originally opened as an office tower back in 1913. The historic building stands 792 ft tall and was the tallest building in the world until 1930 when it was surpassed in height by the Chrysler Building. A few years ago the historic building was redubbed the "Woolworth Tower" and approved to be converted into luxury condos on the upper floors. Here's a look inside one of the new condo units at Woolworth Tower.
One Vanderbilt is a brand new 77-story supertall office skyscraper currently under construction next to Grand Central Station. Designed by Kohn Pedersen Fox and developed by SL Green, the new skyscraper will rise to 1,401 ft when completed next year. The new skyscraper will offer visitors some of the most stunning views in Manhattan from its new 1,020 ft observation deck. Checkout the video below to see an update on the construction of the project.
There's an epic air show coming to New York City this Thursday, August 22nd. The Royal Air Force Red Arrows from the United Kingdom will join the U.S. Air Force Thunderbirds and F-35 Lightning II Demo Team in a historic 3 team flight. The jets are scheduled to fly south down the Hudson River and then over the Statue of Liberty at approximately 9:30 am. After the jets fly south over the Statue of Liberty, they will return north and make a pass over the United States Military Academy at West Point, prior to landing back at New York Stewart International Airport. Spectators in the city can get good views of the air show from Battery Park in Lower Manhattan.
DJ Zap is not just any ordinary party DJ – DJ Zap is a transformative event entertainment experience. Founded by Jason Zaplin, DJ Zap and his team of MC's, professional performing DJ's, stage lighting experts, and Broadway dancers keep hosts and guests on the dance floor, smiling from ear to ear all night! DJ Zap and his team ensure that your event is memorable and remarkable. Every event with DJ Zap is guaranteed to bring Energy, Enthusiasm, and Entertainment!
What you can expect from DJ Zap and his crew
Energy – All the staff at a DJ Zap event brings bounds of energy to each event. Guests and hosts will feel the genuine, moving energy from the beginning to the very end of your event.
Enthusiasm – At DJ Zap, entertaining isn’t a side gig—it’s their lifestyle. DJ Zap president Jason Zaplin has been in the business since he was 10 years old. He’s hosted hundreds of events over the years, and even has a culinary background that lends to his complete understanding of what makes an event truly amazing.
Entertainment – They are not just a DJ company — they're an entertainment experience! The DJ's, dancers, and crew are top-of-the-line professionals who DJ Zap hand-picks to make sure each client receives only the best.
Contact DJ Zap today!
The Manhattan market is still in reset mode. Thousands of apartments are lingering on the market, both new development and resales. It's a buyer's market in most neighborhoods, especially in the condo market. Interest rates are still near historic lows. The rate for a 30-year Fixed Rate Mortgage is currently at 3.875, according to Wells Fargo. More deals are getting done this year as prices have come down and interest rates have dropped from nearly 5%. The number of contracts signed in Manhattan has increased year-over-year, according to the Berkshire Hathaway HomeServices New York Properties 2nd Quarter 2019 Manhattan Market Report.
The townhouse & co-op market is showing mixed results in different parts of the city, while condo prices have decreased in all sections of Manhattan year-over-year. The median closed sales price of a condo in Midtown is $1,215,000, down 9% compared to the same time last year. The condo market on the Upper East Side & Upper West Side has dropped the worst of all sections of Manhattan. The median closed sales price for a condo on the Upper East Side is $1,450,000, down 16.7% year-over-year. Similarly, the median closed sales price for a condo on the Upper West Side declined by 17.6% to $1,600,000. The median closed sales price for a condo in the Downtown market is $1,588,000, a decrease of 11% year-over-year. The median closed sales price for a condo in Upper Manhattan is $806,000, a decrease of 2.3% year-over-year.
The co-op market is showing mixed results in Manhattan. The median closed sales price has gone in Midtown & the Upper East Side. The median closed sales price for a co-op on the Upper East Side is $1,072,000, an increase of 7.4% year-over-year. The median closed sales price for a co-op in Midtown has gone up similar by 7.5% year-over-year. Meanwhile, the median closed sales price for co-ops has decreased in all other sections of Manhattan outside of Midtown & the Upper East Side. The largest decline in the co-op has occurred in Upper Manhattan, where the median closed sales price is $490,000, a decrease of 12.5% year-over-year. The median closed sales price for a co-op on the Upper West Side has dropped 8.7% year-over-year to $975,000.
It's a seller's market for townhouses in Midtown and Downtown, where townhouse prices are 5% & 6% year-over-year. The median closed sales price for a townhouse in Midtown is $4,525,000, an increase of 5% year-over-year in Midtown. The median sale price for a townhouse in the Downtown market is $7.8 million, an increase of 6% year-over-year. The median sales price for townhouses on the Upper West & East Side has declined. The median closed sales price for a townhouse on the Upper East Side is $9,250,000, a decrease of 17% year-over-year. Similarly, the townhouse market on the Upper West Side has declined 12% with a median closed sales price of $7,100,000.
The NYC Mansion Tax, a tax on the purchase of real estate above $1 million, will rise for the first time in 30 years. The tax is customarily paid by the buyer in the transaction, while the seller is on the hook for state and local transfer taxes (which also increased this year). The new tax increase on home purchases went into effect on July 1st, a few months after Albany passed new legislation earlier this year.
Under the previous law, there was a 1% flat-rate tax on all purchases above $1 million. Under the new law, homes sold between $1-2 million will still be taxed at 1%. The new NYC Mansion Tax has an increasing scale for homes sold above $2 million. Homes sold between $5-10 million will now come with a tax of 2.50%, while homes sold above $20 million will be taxed at 4%.
State lawmakers claim the tax increase on home purchases will help pay for the city's out-dated subway system. Home prices on the higher end of the market in NYC could be affected by the new increase in taxes on home purchases. Only time will tell how this affects the real estate market in NYC.
Check out the chart from Bloomberg.com below which details the new NYC Mansion Tax.
The Fourth of July is significant because it was the day that our Declaration of Independence was adopted by the Continental Congress in 1776. The importance of the Fourth of July is that it marks the birth of the United States of America.
The 56 signers of the Declaration of Independence knew it might be death sentence, whether they were successful or not. British forces would quickly sail across the Atlantic to descend on the 13 colonies, which at the time didn’t have the resources needed to defeat a global power like Great Britain.
Yet the signers risked it all and put their signatures, and their lives, on the Declaration of Independence. This decision would eventually birth a new nation founded on ideas like life, liberty, and the pursuit of happiness.
Happy Fourth of July!