September 2009

New York Water Taxi Transforms Real Estate Marketing

It’s easy, convenient, and so much fun! Taking the Water Taxi to get from Manhattan to Brooklyn or Long Island City has never been easier, and developers are taking notice. In a recent tour of the Williamsburg neighborhood of Brooklyn, several condominium developments line the waterfront (The Edge, 80 Metropolitan, Northside Piers…etc). Although you will have to cross busy Kent Street to get to your front door, once on the water side of the building, the sales office is able to boast the many new additions to “Williamsburg Beach”: an esplanade, piers with seating, summer concerts, and of course, the water taxi. The NY Water Taxi service will extend from South 10th Street to Hunter’s Point, LI, DUMBO, Wall Street and East 34th Street. Once completed, the North 5th Street Pier will also host a NY Water Taxi stop, adding to the cache of North Williamsburg.

For more information on real estate in the area, please feel free to contact me.

For more information on the NY Water Taxi, visit http://www.nywatertaxi.com/.

What You Need to Know about the First-Time Homebuyer Credit

There has been a lot of discussion about the First Time Homebuyer’s Tax Credit, and although we do not know yet if the deadline will be extended, there is no doubt homebuyers are taking it into consideration as we near the expiration date of December 1, 2009.

With an $8,000 credit (for purchases made in 2009; and $7,500 credit for 2008 purchases), buyers are anxious to get as much information as possible so they can finalize their home purchase and close before the program ends.

Here is an overview of the incentive program:

-Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
-Applies only to homes used as a taxpayer’s principal residence.
-Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
-Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

If you have closed on your home and need to still get your credit, please visit this page on the IRS website to get the applicable forms. From the time you identify your new home to closing day, several months can pass by so don’t let time slip away without exploring this tax credit program. Feel free to contact me for more information.

Neighborhood Look: Morningside Heights

Located on one of the naturally highest points on Manhattan Island, Morningside Heights stretches from 110^th to 125^th Street, and is bound east to west by Morningside Park and Riverside Park. It took until the 1890s for most of Morningside Heights to go from farmland / private property to developed buildings. Home to 8 highly esteemed educational facilities (most commonly known are Columbia University and Barnard College), the area exudes a collegial atmosphere with a bookstore on every other block, and the campuses of the various institutions in the middle of residential blocks. Steeped in history, some landmarks to admire include St. John the Divine Cathedral and Grant’s Tomb.

With easy access to city parks, tennis courts, soccer fields, and basketball courts, Morningside Heights has become a favorite residential area, bringing people in from all over NYC who now call it home. For more information about real estate in this area, please feel free to contact me.

Remembering the Past, Looking to theFuture

Eight years ago today, the US experienced a terrible tragedy. As we still feel the hurt and loss of approximately 3,000 people, it is important to remember and honor our past. Here is a picture of the Twin Towers as they stood before the terror attack.

Looking to future plans for the area, here is a rendering of the proposed plans for the 16 acre site. Still under construction with a completion date several years out, we honor the fallen with a renewal of both building and of hope:

The complex will include a National September 11th Memorial and Museum, 5 newly built skyscrapers, a transportation hub, shops, and a performing arts center. For more information, visit www.wtc.com

NYC’s Very Own Railway to Trailway: The Highline

The newest addition to Far West Chelsea has been a city-wide hit: The Highline has finally arrived! This stretch of old Manhattan remnants was, as reported on abc.com an “elevated railroad …constructed to replace dangerous street-level train lines on a path nicknamed “Death Avenue.” Before the High Line was built, horsemen carrying lanterns would ride on the tracks to warn pedestrians of incoming trains.
(Author Unknown, 1934/ Courtesy of Friends of the Highline )”:

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Central Park has seen better days…

Last week, NYC’s largest park was hit with two nights of severe thunderstorms. This view looking over 1136 Fifth shows the beginning of the onslaught.

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