Photos from Mitchell Hall - Manhattan Real Estate
455 CPW, Morningside Heights condo, originally built in 1887 as a cancer hospital, restored in 2004Located in: Manhattan, NY
Corcoran has released its Second Quarter Corcoran Report, our quarterly survey of residential real estate sales in Manhattan. This report compares data based on deals that closed in 2Q 2009 (April 1 through June 30) with that of 2Q 2008.
The impact of the credit crisis and the national recession manifested in this quarter's report with marked declines in sales activity and sale prices over the prior year. 2009's Second Quarter posted 50% fewer closings over 2008's. An oversupply of available properties coupled with retreating demand in the first part of the year forced sellers to lower prices in order to differentiate themselves, resulting in 12-15% price drops across the board. As a consequence, buyers have found themselves advantageously positioned with greater negotiability and have snapped up some of the best deals to be had in Manhattan in many years.
History demonstrates that the spring is the busiest season for real estate transactions and, despite the slower pace over 2008, the report reflects greater sales activity in the Second Quarter than the First. In addition, we have noticed a profound uptick in deal activity in May and June as pent-up demand from the early part of the year finally was unleashed on the market; June 2009 was even busier for our agents than the same month a year prior. Keep an eye out for our Third Quarter Report to track the impact of these deals as they begin to close.
New development sales - most signed between twelve and eighteen months ago - have also begun to feel the effects of a slower pace and noticeably fewer luxury property closings. New developments posted decreased sale prices and slower activity; 67% fewer new development properties closed this quarter than were sold in 2Q 2008, with an average 14% drop in price per square foot.
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This post was inspired by Stewart Penn who posted 2 blogs with incredible pictures of Malibu homes in serious danger due to beach erosion last week. Malibu's Broad Beach Narrows To A Sliver of Sand - Emergency Action Needed and Wordless Wednesday:Malibu Fighting the ebb and flow of Nature
Fire Island Pines is a hamlet in the town of Brookhaven, NY. Fire Island is a barrier island off the south shore of Long Island.
Beach grass planted on the dunes.
Tons of new sand from dredging off shore has widened the beach and heightened the dunes. Fences have been erected to help protect the dunes.
Beach grass and fences around the dunes separate the homes from the beach and ocean.
iPhone photos courtesy of:
Mitchell Hall, Associate Broker, The Corcoran Group
© 2006-2009 Mitchel Hall
Since many of you have enjoyed the videos with Barbara Corcoran here is another episode of Open House NYC - Price Fix: The Lofted Two Bedroom.
Barbara Corcoran and Halstead Property broker Brian Lewis have faced off on Price Fix before, but this time the subject of their estimates is Brian's own Upper West Side apartment! He paid $425,000 for it six years ago and has since added about $110,000 worth of renovations. So how much is the real estate savvy resident's apartment worth? Barbara Corcoran has the answer -- but will Brian agree? What do you think?
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Thinking about selling your Manhattan home? To find out how much your Manhattan, NY apartment is worth in today's market contact me at 917-312-0924 for a confidential market evaluation or click here: Manhattan Apartment Seller.
Films with views can be enjoyed on the piers and parks this summer
Photo courtesy of the New York City Department of Parks & Recreation.
Summer in New York City brings with it a slew of outdoor films. Here’s a sample of the festivals happening in the City:
2009 HBO Bryant Park Summer Film Festival
Date: Every Monday until August 17
Time: Lawn opens at 5pm. Films begin at dusk (8pm-9pm)
Movies Shown: The Sting, Breaking Away, Gold Diggers of 1933, Dog Day Afternoon, How Green Was My Valley, Harold and Maude, The Defiant Ones, Kramer vs. Kramer, The Magnificent Seven, and Close Encounters of the Third Kind
Location: Bryant Park is situated behind the New York Public Library in midtown Manhattan, between 40th and 42nd Streets & Fifth and Sixth Avenues
Every Monday night from June 15 until August 17, the 2009 HBO Bryant Park Summer Film Festival presents classic films like The Magnificent Seven and Kramer vs. Kramer. The lawn opens at 5pm for blankets and picnicking; films begin at dusk. For a complete schedule, click here.
RiverFlicks
Date: Every Friday from July 10 to August 21
Time: Movies begin at dusk (around 8:30pm)
Movies Shown: Wizard of Oz, Kung Fu Panda, Ghostbusters, Star Wars: The Clone Wars, The Muppet Movie, Madagascar: Escape 2 Africa, and Curious George
Location: Piers 54 and 46 at Charles Street
Overlooking the Hudson River, RiverFlicks for Kids takes place every Friday night at Pier 46 with offerings of The Wizard of Oz, Kung Fu Panda, and The Muppet Movie. For adults, there’s RiverFlicks for Grown-Ups at Pier 54 on Wednesdays. Beginning on July 8 with Iron Man and concluding with Pineapple Express on August 19, the series will also feature Tropic Thunder on August 5. For more information, visit http://www.hudsonriverpark.org/events.asp.
Summer on the Hudson
Date: Every Wednesday from July 8 to August 12
Time: 8:30pm- 11pm
Movies Shown: The Age of Innocence, Wall Street, Dinner at Eight, The Out-of-Towners, Drums Along the Mohawk, and Sweet Smell of Success
Location: Pier 1, Manhattan
Pier 1 at 70th Street in Manhattan plays host to Movies Under the Stars on Wednesday evenings beginning July 9. This year’s films were chosen to showcase the theme of finance, with selections that include The Age of Innocence, Wall Street, and Sweet Smell of Success. Visit http://nycgovparks.org/ for a full schedule.
Movies with a View
Date: Every Thursday from July 9 to August 27
Time: 6pm to 11pm. Movies start at sunset.
Movies Shown: Raising Arizona, The Maltese Falcon, Paper Moon, To Catch A Thief, The Return Of The Pink Panther, Butch Cassidy And The Sundance Kid, Catch Me If You Can, and Edward Scissorhands.
Location: Brooklyn Bridge Park Conservancy
The 10th Annual Brooklyn Bridge Park’s Movies with a View kicks off on July 9 at the Brooklyn Bridge Park. The Maltese Falcon and Edward Scissorhands are among the films shown every Thursday. For more information, visit http://www.brooklynbridgepark.org.
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Two Manhattan, New York real estate brokers and Barbara Corcoran give price opinions to a seller of a pre-war Flatiron Loft.
Thinking about selling your Manhattan home? To find out how much your Manhattan, NY apartment is worth in today's market contact me at 917-312-0924 for a confidential market evaluation or click here: Manhattan Apartment Seller.
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New York City Real Estate Broker catering to today's discerning, local, national and International, tech-savvy Manhattan buyers and sellers.
Mitchell J Hall - Associate Broker - Blogger
My blogs are designed as a consumer service to help buyers and sellers make informed real estate decisions. It is often difficult to get relevant information when you are looking to buy or sell a coop or condo apartment or townhouse in the complex Manhattan real estate market.
In order to better educate and inform buyers and sellers, the information provided is a FREE Service.
Many buyers and sellers who read my blogs and visit my site are so impressed with the information and service that they will contact me in order to assist them in the purchase or sale of their home.
Manhattan Relocation Package: Neighborhood Relocation Guides and Market Reports: 
Manhattan Apartment Buildings in history/ today
To join my VIP Manhattan Buyer Profile System and receive new listings by email click here.
To find out How Much Your Home is Worth in Today's Market click here
A Manhattan born native New Yorker, Mitchell gained appreciation and knowledge of New York City's different neighborhoods, buildings, architecture, culture and diversity at an early age. His innate knowledge of each neighborhood's unique personality is what makes him adept at matching personalities and lifestyles with properties. He has lived in Manhattan neighborhoods in Brownstones, Pre War and Post War buildings. Having lived and travelled throughout the US and abroad Mitchell knows "There's No Place Like Home" both financially and emotionally.
Comfortable with all types of people, lifestyles and financials he knows how to listen, to focus, "to read between the lines" and to work hard to satisfy his client's real estate needs.
Websites and Links Where You Can Find Me Online:
Testimonials:
____________________________________________________ Mitchell Hall sold 2 of my apartments in Manhattan. One was a Chelsea co-op in 2002 and the most recent was a Battery Park City Condo in 2005. After he sold my co-op in 2002, I knew Mitchell was the only Realtor I wanted to sell my Battery Park city condo. 
The reason was very simple. Successful selling in Manhattan real estate is based on the correct pricing for the unit. If it’s priced too high, there won’t be enough interest and the unit will sit on the market.
However, if it’s priced just low enough to generate a healthy response, the potential buyers will compete for the property and bid up the price. In both instances, this was the case.
Mitchell was able to get the best price for my units based on pricing the units at the correct pricing point that led to bidding wars on the apartments. And in both instances, the units sold for well over the asking price.
In my mind, being able to price units correctly in Manhattan is not an easy task. There are so many variables that affect a unit’s value - even in the same building. Mitchell’s combination of extensive market knowledge, professional demeanor and outstanding negotiating skills always brought in the highest price for my units.
I have since moved from Manhattan, however, if I was ever to return to the city, Mitchell Hall would be the first Realtor I called.
I would highly recommend Mitchell Hall as a Realtor in Manhattan and don’t hesitate to sign my name to this letter.
Allen Zimmerman
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"It's been a few months since we've been in our new apartment, we love it. We are so glad we met you at your Open House. With out you we never would have found this apartment. Thanks for all your help especially getting us approved by the co-op board. GS and RW 250 West 103rd St.
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" Mitchell, your pricing strategy and marketing ingenuity was nothing less than spectacular. Having so many solid offers to choose from so quickly enabled me to not only get the price I wanted but the terms as well. Having a signed contract in less than a week and Closing in less than 30 days removed all the stress regarding my relocation and the new condo I bought in South Beach. By the way thanks for getting me a great Realtor in Miami." TD 377 Rector Place #20A ____________________________________________________________________ "Bravo! Mitchell, I am so pleased with your work, I could not be any happier. When I saw my little Chelsea apartment in The New York Times recent sales section, and how much you sold it for I felt like Sarah Jessica Parker in "Sex in the City". A. Collins 210 W 19th Apt 5K IN THE NEWS: Recent Press
Sales still falling in Manhattan
By Inman News, Wednesday, July 2, 2008.
Residential sales in Manhattan continued to slide in the second quarter, according to market reports released today, falling back from last year's lofty peaks.
Mitchell Hall, an associate broker for Coldwell Banker Previews International in Manhattan, said, "I think the market has really turned to more of a buyer's market," and buyers seem to have more wiggle room these days in negotiating prices and other concessions with sellers.
"Everything's very negotiable right now," Hall said. "Where a year ago a buyer would ... insult a seller making a lowball offer, now everything is being considered."
He cited the slow-moving economy among the factors contributing to slowing sales. "They are not grabbing things right away as they were previously. They are ... taking a wait-and-see attitude."
Those buyers who purchased in the past year will likely lose money if they try to sell in the current market, he said.
While there are still first-time buyers in the market, Hall said that larger down-payment requirements are difficult for some buyers. "It's a little tougher getting mortgages right now." The co-op market, he said, typically requires a 20 percent down payment and in some cases a 25 percent down payment, and for condos most lenders are requiring at least a 15 percent down payment, he said.
There are plenty of homes for buyers to choose from, he said, citing a couple who found 80 properties that matched their criteria.
How to be the perfect candidate TIPS FOR CO-OP BUYERS - by: Scot Meyer Five tips for wanna-be co-op buyers Although a co-op board member may say that the process of meeting applicants is just a formality, the building bigwigs can reject you without explanation. So it pays to take the meeting seriously. 1. Answer questions. "You may be asked things that seem personal and sometimes even invasive," says Circle Mortgage Group president Dale Siegel. "Don't be fazed, just answer politely." 2. But maybe not all questions. Mitchell Hall, associate broker with Coldwell Banker Previews International, notes that co-ops can't discriminate based on things such as race or national origin. The board is also not supposed to ask about sexual orientation, marital status or if children will be living with you. 3. Don't elaborate. Hall says major renovation plans might turn off board members. 4. Don't ask. Even innocent questions can offend. "You might ask when they're going to renovate the lobby," Hall says, "and it turns out they just did, and someone on the board was head of the lobby-renovation committee." 5. Don't tell. Beware of revealing too much-questions about sublet or pet policies are a bad idea, and if there are patios, don't ask if you can barbecue on them. For the time being, yes. But if Wall Street continues to struggle, that could change Is Manhattan Immune from the Real Estate Bust? (page 2 of 2) Many of the strictest buildings often insist that prospective buyers have liquid assets equaling as much as three times the apartment's asking price. So, if you're talking about a $5 million apartment, you need at least $15 million in the bank. Other real estate holdings don't count. Subprime loans and foreclosures, as a result, are rare. "Here you have to put skin in the game," said Mitchell Hall, associate broker with Coldwell Bankers Previews International. "It's not easy to buy a place in New York-you have to be really qualified." Translation: rich. Nail-Biting Time The fact that Manhattan has-at least so far-escaped the downturn doesn't mean it won't get hit. With a recession looming, plenty of job losses are expected this year on Wall Street, where bonuses are also expected to shrink. The new condos being built-with ever increasing prices-could also create an oversupply of luxury real estate. Even Spinola of the Real Estate Board concedes that the market could flatten in a recession. New York real estate is by no means immune to dips. Prices dropped during the recession in the early 1990s and following the 1987 stock market crash. The biggest postwar decline came in the 1970s, when the city went bankrupt. Jonathan Miller, president of New York appraiser Miller Samuel, said even though prices are rising, sales activity is off from last year's record levels. The boroughs are doing worse. Expensive Brooklyn neighborhoods such as Brooklyn Heights, Cobble Hill, and Park Slope have mirrored Manhattan's strength. But middle-class communities farther out have been weakened by the subprime crisis and the credit crunch. Median home prices in Queens fell 12% in the first quarter from a year earlier, according to the Real Estate Board. The median price dropped 9% in the Bronx, 2% in Staten Island, and 1% in Brooklyn. "Look we've had a very brisk real estate market for the last four or five years," Miller said. "The New York region has held up better than virtually any market across the country. But we are not immune to situations on the national scale." See the BusinessWeek.com slide show for the most expensive real estate listings in Manhattan. Gopal writes about real estate for BusinessWeek.com in New York . metro.us 1/24/2007 New York Post 12/03/2006 PAGE SIX Magazine: NY POST Sunday October 14,2007 Press Mentions:
Time Out New York / Issue 656 : Apr 23-29, 2008
Apartments '08
Is Manhattan Immune from the Real Estate Bust? 
Date
Publication
Article's Name
1/24/2007
Metro New York
On the Waterfront
9/1/2005
The Real Deal
Residential Deals
3/7/2005
New York Post
Homes of the Week
12/3/2006 New York Post Hot New Digs For Wall St. Bonus Babies 6/22/2007 New York Sun Stalled Coop Bill Gains Backers
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