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290 Mulberry Street Goes Rental

12-27-11
Mike Akerly, Esq. and Kate Akerly - Manhattan & Brooklyn Real Estate
Mike Akerly, Esq. and Kate Akerly - Manhattan & Brooklyn Real Estate: Real Estate Agent in Brooklyn, NY
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  • Office: (212) 400-4838
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290 Mulberry StreetBy Kevin Korber of Village Confidential

290 Mulberry Street was one of the casualties of the credit crisis, and it has remained vacant despite being close to completion for some time. Now, Crain’s reports that the former condo project will finally be completed and go on the market as rental apartments.

Originally conceived in 2008, 290 Mulberry Street was originally conceived as luxury condominiums; all apartments in the building were full-floor apartments with a shared terrace measured at 2,600 square feet. Reports had even priced the top-floor penthouse at $7.5 million. However, Cardinal Real Estate - the building’s developers - was a victim of the Lehman Brothers collapse in September of 2008, and their lender CIT Group threatened to foreclose on the building. CIT Group then went bankrupt themselves, and Cardinal countersued, thus tying the fate of the project in legal knots.

290 Mulberry Street has since been sold for the asking price of $25 million. The new owners intend to use the original developers, as well as original design firm SHoP Architects and the original construction crew. There is still about six months of work to be done on the building, so rentals at 290 Mulberry Street probably won’t be available until late 2012.

To view listings in this or any other Manhattan or Brooklyn building, please call or e-mail us to schedule a private showing at (212) 400-4838 or keytothecity@akerlyre.com.

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Office Space - Soho, NYC

12-13-11
David Argento Commercial Real Estate Advisor New York
David Argento Commercial Real Estate Advisor New York: Commercial Real Estate Agent in Manhattan, NY
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SoHo (SOuth of HOuston Street) is another one of the many amazing, intriguing neighborhoods of Manhattan. Here, South Houston houses the largest collection of cast-iron buildings – SoHo-Cast Iron Historic District houses ~500 buildings, all characterized by their unique casts-iron architecture.

Even in the past, South Houston was revered as a shopping and theater district. Many forms of entertainment existed here, but they slowly eroded as development moved uptown, away from the neighborhood. SoHo then fell into decline. For a period of time, the area even took on the name “Hell’s Hundred Acres because of the large number of fires that took place there.

Office Space - Soho, NYC
Office Space | Soho, NYC Office Space | Soho, NYC Office Space | Soho, NYC
Office Space - Soho, NYC

As an “industrial wasteland”, many buildings have been abandoned, leaving properties prices low. It was in South Houston that many artists, armed with nothing more than the clothes on their skin and their unique interpretation of life through the pallet and the brush, moved into this neighborhood.

Today, the neighborhood is restored to its former glory as one of the more famous shopping districts in the state – some have even proclaimed it as a “Shopper’s Paradise”. Here, designer labels, novelty stores and small boutiques all ply their wares to shoppers, coaxing purchases from them through exquisite displays and wit from the quick-thinking salespeople.


For more information on office space in Soho, NYC, please call or email:
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Prince Street Subway Station-Manhattan New York

11-18-11
Eileen Hsu 許小姐 Manhattan NY Real Estate
Eileen Hsu 許小姐 Manhattan NY Real Estate: Real Estate Agent in Manhattan, NY
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This is a photo of Prince Street Subway Station tiles. Prince Street runs through the NoLIta neighborhood into Soho.   Prince Street is one of our favorite streets in all of Manhattan. There are a lot of boutique shopping, restaurants and condominiums along Prince Street.

Soho is a neighborhood with a name that is defined by its geographic borders.  South of Houston Street, Soho is one of the most popular and desirable downtown Manhattan neighborhoods.  Soho’s boundaries could be described as Houston Street on the north, Canal Street to the South and Lafayette/Centre Street on the East and West Broadway on the West Side.

The neighborhood is known for its European feel, with cobblestone streets, European street side cafes, famous boutique shopping, nightlife options and many top end restaurants.  You can still experience Soho’s artistic culture as many art galleries are still found in the neighborhood.

New construction condominiums now to try to emulate the characteristics that these original buildings possess. High ceilings, huge open layouts, with large open windows, give Soho real estate a prized feel. Along with the desirability comes with it the high prices of real estate in the neighborhood as loft residences tend fetch some of the highest prices in downtown Manhattan.

We are very experienced & active Manhattan New York Real Estate agents, we have helped many buyers and sellers in different neighborhoods of Manhattan New York not just in SoHo or Nolita New York. Please contact us at (917)837-8869 to find your perfect Manhattan New York apartment.


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JUST RENTED-SoHo Mews Three bedroom rental for $15,500 per month

11-13-11
Eileen Hsu 許小姐 Manhattan NY Real Estate
Eileen Hsu 許小姐 Manhattan NY Real Estate: Real Estate Agent in Manhattan, NY
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  • Office: (212) 321-7122
  • Mobile: (646) 644-6929
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JUST RENTED - SOHO THREE BEDROOM RENTAL $15,500 per month.

We are Manhattan New York Real Estate professionals, we sell and lease many Manhattan Condos for our owners. This three bedroom SoHo rental is highly desirable because of its great location, open spacious space, and brand new never lived in condition. Manhattan high end rental is very competitive, we are seeing many three bedroom potential tenants searching for the right home. Some three bedroom potential tenants are interested in renting these units as second home, vacation home, or primary residence.

Soho Mews is a new construction condominium located in the ever popular SoHo neighborhood in Manhattan. Designed by the architects, Gwathmey Siegel, the building was welcomed by the New York City marketplace as it has sold successfully and appreciated for many of it's design elements.

At the heart of it's appeal is its SoHo location. Located between West Broadway and Wooster Street in the souther portion of SoHo, and across the street from the Soho Grand Hotel. You are within walking distance to everything Soho has to offer and still within the heart of Downtown Manhattan.

Soho Mews Apartments are very loft-like, with high ceilings, extremely generously sized rooms, nicely outfitted kitchens and bathrooms, floor to ceiling windows, an attention to detail was made and you will feel very comfortable walking into the apartments. The building is a full time doorman condominium, with fitness room, garage, and open air private plaza between the Wooster Street and West Broadway buildings.

As you walk into this apartment you will see the expansive living/dining "Great" Room. An open kitchen with large counter opening to the "Great Room" offering a great flow and entertainment potential. Each bedroom has an en-suite bathroom, along with excellent walk in closets. The Master Bedroom has a 5 piece master bathroom with excellent closet space. The stackable washer/dryer is a nice feature completing the apartment.

Facing both West Broadway and the garden courtyard on the 3rd floor the floor to ceiling windows bring in strong amounts of light along with the high ceilings give a voluminous feel to this Soho Mews rental.

If you are interested in renting three bedroom condos or high-end rental condos in Manhattan New York, call us today (917)837-8869.

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Foreign International Buyers Buy US House = US Visa?

10-25-11
Eileen Hsu 許小姐 Manhattan NY Real Estate
Eileen Hsu 許小姐 Manhattan NY Real Estate: Real Estate Agent in Manhattan, NY
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  • Office: (212) 321-7122
  • Mobile: (646) 644-6929
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Recently, to boost the US housing market, two U.S. senators are preparing
to introduce a bill that would allow U.S. resident visa's to foreigners if the foreigner spends at least $500,000 on U.S. Real Estate.

It is no surprise that foreigners have been purchasing many homes in New York, South Florida, Southern California, Arizona and other areas of US. This proposed bill would offer visas to any foreigner making an all cash investment of at least $500,000 on residential Real Estate such as a condo unit, town house or private single family house. To be eligible, this amount can be spent on one house for $250,000 and investing the other $250,000 on a rental residential property.

Some other details of this proposed bill include:
  • Foreigners immigrating to the U.S. with the new visa wouldn't be able to work here unless they obtained a regular work visa through the normal visa process.
  • They can bring a spouse and any children under the age of 18, but they can not stay in the country legally on the new visa if they sell their properties. Foreign buyers would have to live in the home for at least 180 days each year, and be required to pay U.S. income taxes on any foreign earnings.
  • In addition, these foreigners will not be eligible to receive Medicaid, Medicare or Social Security benefits.
We think this is a very interesting idea to potentially boost the housing market with foreign international money. We will have to wait to hear all of the details on how it would really work if a foreign buyer wants to invest $500,000 in order to receive the U.S. Visa.

It can have a positive impact for the housing market if the specifics and the requirements are reasonable and make sense for these international buyers. Manhattan New York is a market that many foreigners from all over the world come to visit and purchase real estate. We consistently and successfully help many international buyers look for second homes or investment in the NYC real estate market.

*This blog post was written based on the news release on Wall Street Journal on 10/20/2011 to provide a general information of this bill. To read more about the exact and most updated details on the bill, please email us for the update*

We are Real Estate agents that are have successful experiences working with foreign international buyers in Manhattan New York.

Call us today (917)837-8869 to discuss your Manhattan New York Real Estate purchase.

To Read other helpful blogs on Foreigner buy New York Real Estate:
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