Wonderful Carnegie Hill Coop between Fifth and Madison Avenue

Located off Fifth Avenue! Carnegie Hill Coop – Located off of Fifth Avenue! Boasting western light, this lovely one bedroom / one bathroom home exudes the charm and character of the Upper East Side’s best neighborhood, Carnegie Hill. Within the home, the kitchen is open to the living area with hardwood floors and 9’5″ ceilings. In-wall bookshelves line one wall of the living... Read More →

The Club at Turtle Bay: Studio Condo Rental

The Club at Turtle Bay: 236 East 47th Street FURNISHED or UNFURNISHED RENTAL available in the Club at Turtle Bay located in the heart of Midtown! Full service building with doorman / concierge services, garage in building, and a discount at the neighboring YMCA. Move right in to this convertible one bedroom outfitted with modern furnishings, ample closet space, and a dressing area. Entertain using... Read More →

116 Pinehurst – Stunning Hudson View Gardens Coop

**Elegant and Bright Classic 5 in the highly coveted Hudson View Gardens Cooperative** Located in prime Washington Heights, directly across from Bennett Park, this wonderfully renovated 3 bedroom, 1 bathroom home leaves no stone unturned. A gracious foyer with two closets leads into the living room with original oak herringbone floors. This spacious 20′x13′ living area is adjacent to the... Read More →

Shelley O’Keefe and Seema Aggarwal in Brokers Weekly

Financing Today – New Loans vs. Refinancing

Have you tried to get a loan recently? As in, the last six months?

Well, with rates so low many buyers who are trying to enter the market are eager to get approved for financing. The problem is that most of the current lending market is reserved for refinancing – not new loans. Buyers are being affected all over New York City, stunned that with their stellar credit and great job history that they cannot capitalize on the low rates with a new home loan. If you are looking for a new home with financing, here are some tips:

1. When you identify a property you are interested in purchasing, find out when the last purchase in the building occurred and what financial institution financed that deal. You will most likely find your best loan options (and the most reliable bank to take you to closing) will be the one that has closed a loan in the building in the last 6 months.

2. Recognize that the bank(s) that will loan in the building you are interested in will not necessarily offer you the lowest rate. Every building in New York has different financials, operating budgets, taxes and debts. The banks are cracking down on who they will lend to and who they will not. Just because “X” Bank agreed to pre-approve you at 4.5%, they need to approve the building – and depending on the building, your rate may be affected.

3. Before you go to contract, make sure you can get a loan on the property and building you are pursuing. The bank should be able to tell you if they will loan in that building. If that is information you cannot find out, make sure you have a mortgage financing contingency in the contract!

Market Watch

Corcoran Report: 1st Quarter 2011

The Corcoran Group has recently published their first quarterly report on the state of the market. With statistics for Manhattan and Brooklyn, The Corcoran Report is a great resource outlining market trends in rentals, condominiums, cooperatives and townhouses. Please click the link at the top for a copy of the report.