NO FEE East Village Two Bedroom - OWNER PAYS

East Village Two Bedroom Apartment - NO FEE / OWNER PAYS

Please call JAD Realty Group for further details:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: East Village / East 12th Street VIDEO TOUR: East 12th Street 2 Bedroom DESCRIPTION: Well maintained, walk-up building Second floor unit Separate eat-in kitchen including appliances Dining alcove area Tiled bathroom, new fixtures Large living room featuring a wall of windows Track lighting Southern exposure view Each bedroom can easily fit a queen size bed and extra furniture Four storage closets New hardwood floors Live in super True two bedroom, has not been converted Excellent East Village location; near all transportation, restaurants, Gramercy, the Lower East Side, Astor Place, and Union Square TRANSPORTATION: LISTED RENT: $2,395 CONTACT: Name: Jeffrey Phone: 610.781.8417

East Village Two Bedroom Apartment - NO FEE / OWNER PAYS

Please call JAD Realty Group for further details:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Soho penthouse now 50 percent less than asking price

One year ago, a duplex penthouse at 43 Wooster Street was listed at $12.5 million. Now, the 2,600-square-foot unit is on the market for $5.9 million. The two-bedroom, two-bath apartment suffered two price reductions in the last week, down to $6.995 million and then finally, to $5.9 million. The owners bought the penthouse for $4.171 million in 2006.

43 Wooster Street

Listings up, sales down in Manhattan

The number of apartments that went into contract or had accepted offers in Manhattan in October fell 20 percent from September, and declined 62 percent compared to October 2007, according to the Corcoran Group. The number of listings in Manhattan rose 33 percent in October compared to the same time last year, according to Miller Samuel. Jonathan Miller, president of Miller Samuel, said because of the lag time between contract signings and apartment closings, about 45 days, sales figures won't reflect the price decline in the market until the first quarter of next year.

Barbara Corcoran insists now is time to buy

Barbara Corcoran, founder of the Corcoran Group, said in 2010, when the real estate market bounces back, "everyone will look back and say, 'Why didn't I buy then?'" Corcoran, founder of the Corcoran Group, said softening housing prices are scaring away buyers who are waiting for prices to fall even more, when they could be finding a good deal right now.

More sublease space to come

East Village Two Bedroom Rental - REDUCED PRICE

REDUCED PRICE - East Village Two Bedroom Rental Available NOW

Contact JAD Realty Group for showing times:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: East Village / East 12th Street DESCRIPTION: Well maintained, walk-up building Second floor unit Separate eat-in kitchen including appliances Dining alcove area Tiled bathroom, new fixtures Large living room featuring a wall of windows Track lighting Southern exposure view Each bedroom can easily fit a queen size bed and extra furniture Four storage closets New hardwood floors Live in super True two bedroom, has not been converted Excellent East Village location; near all transportation, restaurants, Gramercy, the Lower East Side, Astor Place, and Union Square TRANSPORTATION: LISTED RENT: $2,395 VIDEO TOUR: East 12th Street 2 Bedroom CONTACT: Name: Jeffrey Phone: 610.781.8417

REDUCED PRICE - East Village Two Bedroom Rental Available NOW

Contact JAD Realty Group for showing times:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Gramercy Park Rent Stabilized One Bedroom Apartment

Gramercy Park / Union Square Rent Stabilized One Bedroom Rental

Contact JAD Realty Group for showing times:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: Gramercy / Union Square / Irving Place DESCRIPTION: Well maintained, walk-up building Newly renovated kitchen including appliances and new cabinetry Marble bathroom, new fixtures Living room featuring an exposed brick wall 11' X 11' bedroom, can fit a queen size bed and extra furniture Two storage closets Wall of windows in bedroom, bright Southern exposure view New hardwood floors Rent stabilized unit, priced below market value Excellent Gramercy location; near all transportation, restaurants, Irving Place, the East VIllage, and Union Square TRANSPORTATION: LISTED RENT: $1,925 CONTACT: Name: Jeffrey Phone: 610.781.8417

Gramercy Park / Union Square Rent Stabilized One Bedroom Rental

Contact JAD Realty Group for showing times:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Upper East Side Retail/Commerical Space Available (2nd Avenue)

Upper East Side - 2nd Avenue & East 91st Street Retail Available

Contact JAD Realty Group for showing times:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Jeffrey Ditri | JAD Realty Group, LLC. | 610-781-8417 2nd Avenue, New York, NY 2nd Avenue & East 91st Street Retail / Office Space Available Retail/Commercial   $3,750/month Sq Footage 650 Parking Unspecified DESCRIPTION Commercial Space available at Second Avenue between 91st & 92nd Street. In store square footage - 650; including 100 square feet of exclusive storage. Separate private office and bathroom. Recently renovated, like new store front, space is in great condition and ready for you to open quickly. Built in cabinets/shelves can be removed to open up the space to fit your needs. Great location in busy Upper East Side neighborhood. Open up now and reap the rewards of the new second avenue subway line when completed. The new subway line will create a tremendous amount of foot traffic and increased sales potential. Preferential rent offered during subway construction process. Commercial or office use accepted.   see additional photos below RENTAL FEATURES Preferential Rent Price - Limited time only   LOCATION FEATURES Heavy foot traffic neighborhood Close to subway Future of 2nd Avenue subway stop   LEASE TERMS Minimum 2 years   ADDITIONAL PHOTOS Renter contact info:   Jeffrey Ditri JAD Realty Group, LLC. 610-781-8417 Equal Opportunity Housing Posted: Nov 17, 2008, 3:22pm PST

Upper East Side Two Bedroom Rental (Home Office)

Upper East Side One Bedroom Rental with Home Office

Please contact JAD Realty Group for a showing schedule:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: Upper East Side / 2nd Avenue DESCRIPTION: Well maintained, walk-up building Second floor unit Separate kitchen including appliances and cabinetry Tiled bathroom, new fixtures Dining alcove area Large living room Home office with a storage closet (could be used as a 2nd bedroom) 12' X 12' bedroom with two large windows, western exposure view Three storage closets total New hardwood floors Live-in super Priced below market value Half of entire floor, 800 square feet Excellent Upper East Side east location; near all transportation, restaurants, Carl Schurz Park, Midtown, and Central Park TRANSPORTATION: LISTED RENT: $1,850 CONTACT: Name: Jeffrey Phone: 610.781.8417

Upper East Side One Bedroom Rental with Home Office

Please contact JAD Realty Group for a showing schedule:

Jeffrey Ditri

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Manhattan multi-family building prices fall 11 percent

Closed transactions in Brooklyn and Queens by quarter. Source: PropertyShark.

 
Price cuts hit the Manhattan multi-family market hard last quarter, according to a new report covering residential investment properties released by real estate analysis company PropertyShark.

While the median sales price for an apartment building fell 11.2 percent from the prior year quarter, the median price for each unit fell by 17.5 percent over the same period, the data released today showed.

At the same time, building sales volume, median sales price per building and median sales price per unit all declined citywide, according to the report, which examined multi-family sales greater than $10,000 in the five boroughs, but did not include package deals.

"The takeaway is that Manhattan is not immune, something everyone has been saying all along," said Bill Staniford, CEO of PropertyShark. "I think we have seen a very significant run-up in pricing -- a bubble -- that will need a correction."

In the five boroughs, building sales volume dropped 23 percent to 3,039 transactions; the median sales price per building dropped 9.1 percent to $590,000; and the median sales price per unit fell 8.1 percent to $245,000, the data showed.

Manhattan’s 17.5 percent drop in the third quarter to $283,430 when compared to the third-quarter 2007 was the steepest among the five boroughs, a sign that the credit crunch and general economic weakness have finally started to affect Manhattan, Staniford said. The outer boroughs saw more dramatic prices drops in earlier quarters, and he expects further price reductions throughout the city in the fourth quarter.

Between July and September, the median price per unit in Brooklyn was $250,000, down 4.8 percent from the same period last year.  In Queens, the median price was $264,285, down 9.6 percent year-over-year; in the Bronx it was $200,000, down 5.9 percent; and in Staten Island it was $215,000, down 15.4 percent, the report showed.

The number of sales in Manhattan fell by 36.2 percent from a year earlier to 132 sales, while in Brooklyn it dropped 24.7 percent to 1,189. In Queens the number of sales fell 16.3 percent to 1,107; in the Bronx it fell 27.4 percent to 374; and in Staten Island it was down 27.1 percent to 237 buildings, the data showed.

Residential market halts in its tracks

Wall Street's recent wild volatility has caused the New York City real estate market to freeze in its tracks, with sales volume screeching to a halt and deals falling apart as potential buyers have watched their net worth evaporate.

With the passage of the $700 billion financial rescue package on Oct. 3, analysts hoped the nationwide economy, mired in the credit crisis and housing slump, would show signs of improvement.

Instead, the stock market saw wild volatility throughout the month of October, with frequent, jaw-dropping daily moves of 400 and 500 points. By late October, arguably the worst financial crisis since the Great Depression had gripped the nation, with more than $10 trillion erased from the market value of equities, credit-related losses topping $660 billion and the yield on the 30-year Treasury note falling to its lowest level in 30 years.

"I feel like somebody just hit the pause button," said Halstead Property's Julia Boland.

Though sales usually pick up between Labor Day and the holidays, this year was different, brokers said.

"This fall's market is very atypical, because right now, there is no market," said David Berley, chairman of Walter & Samuels. "October has been extremely slow, and unless the credit markets settle down and open up, I don't expect November to be any better."

The market's volatility paralyzed both buyers and sellers, who were hesitant to make or accept offers in the midst of so much uncertainty.

"The fall market has been marred with fear, resulting in buyer hesitation," said Steen Rasmussen, a senior vice president at Warburg Realty. "I am aware of many homes currently for sale which would have received several offers this fall had it not been for the fear factor."

The conditions worsened the months-long stalemate between buyers and sellers, with buyers looking for bargain-basement prices and sellers reluctant to drop their prices.

"Buyers are putting in low offers on several properties at a time, so they aren't putting money at risk," said Steve Ganz, a managing director at CORE Group Marketing. "Sellers are hesitant to sell at these low numbers, having seen higher comps so recently."

At the end of September, according to the most recent figures available, there were 7,345 apartments for sale in Manhattan — a leap of 33.8 percent over September 2007, and 14.4 percent more than the previous month, according to Jonathan Miller, the president of the real estate appraisal company Miller Samuel.

Miller said it's normal for many sellers to take their homes off the market during the slow summer months. "We generally expect a rise in inventory over this period as the sales are outpaced by new listings entering the market," he said.

Still, this year's increase in inventory between August and September was larger than normal. Last year, it was 12.1 percent, compared to 4.3 percent in 2006 and 18.6 percent in 2005.

Rental vacancy continued its upward trend from 1.39 percent in August to 1.46 percent in September, according to Citi Habitats, while average rents in nearly all categories of apartments fell.

Brokers and developers struggled to salvage the sales they'd already made, as banks tightened lending restrictions and many buyers panicked in the face of uncertainty.

"Deals are difficult to hold together as on all sides of the transaction, there are nervous people," said Jacky Teplitzky, a managing director at Prudential Douglas Elliman. "If the Dow falls too much during the contract negotiation process, the buyers start having second thoughts."

Other buyers are demanding lower prices for units they've already signed contracts for.

"What has also been noticeable this fall is the number of buyers who have demanded to renegotiate their deal after their accepted offer and/or in the days before the closing, on average of 5 to 10 percent below the originally agreed-upon price," Rasmussen said.

And even the most well-qualified buyers are continuing to experience trouble getting financing.

"I have 10 deals on my desk right now, and you would have thought they would go one, two, three," said Ross Weinstein, a managing partner at Union Square Mortgage. "But they're taking forever. These are highly qualified buyers who are putting 40 to 50 percent down."

Still, many brokers are finding reasons for optimism, reasoning that conditions can only improve as the stock market volatility subsides.

"October was tough because of all the bad news stemming from Wall Street," said Michael Signet, executive director of sales at Bond New York. "November should be better because many of the government programs to stabilize things will go into place, giving investors and potential buyers of real estate more of a sense of confidence."

"Humans can only remain in a state of fear for so long," Rasmussen said. "I expect November to be when both buyers and sellers come to terms with the new reality."


Battening down the hatches

This month, the nationwide housing slump hit home for New Yorkers for the first time, as Wall Street's woes gave New York City a major taste of the uncertainty that has plagued the rest of the country for months. Here's a sample of what real estate professionals had to say about market conditions in response to The Real Deal's monthly Manhattan residential survey.

"It's going to be a cold winter, but we actually like it because it separates the men from the boys. Transaction volume is down, but the best agents know how to capture those deals that do happen." Barak Dunayer, president, Barak Realty

"The good stuff gets gone, and B+ and below aren't even looked at. Only top-notch properties are doing well." Darren Sukenik, executive vice president, Prudential Douglas Elliman

"Despite the challenges, everyone is trying to be optimistic. We talk about how you have to be creative to make deals happen in the current market. Unless your buyers have excellent credit scores and liquidity, many people do not qualify for mortgages." Lily Insogna, sales agent, DJK Residential

"Brokers, like everyone else, are waiting to see how the market will pan out. No one has definitive answers as to what will happen with the economy." Andres Hogg, U.S. general manager, Espais Promocions Immobiliàries

Renter's Market in Manhattan? Manhattan vacancies at 12-year high

Vacancies in Manhattan apartments increased from 1.46 in September to 1.71 percent in October, a 12-month high. While Battery Park led all neighborhoods with a vacancy rate of 2.02 percent, vacancies were up in each of the other 10 neighborhoods tracked by Citi Habitats, including always popular neighborhoods like the East Village and the Upper West Side.

There is also some downward pressure on rents, perhaps due to the uptick in idle apartments. Average rents for studios, one-bedrooms, two-bedrooms and three-bedrooms all fell modestly from September to October. Some neighborhoods are falling faster than others, however, and some of the most severe drops are in surprising locales.

Yes, studio rents fell by over $100 on average in Harlem and the Financial District, but average monthly rents for one-bedroom apartments in the East Village slipped by over $200 from September, falling to $2,481. Average rent for an Upper East Side two-bedroom fell from $3,299 in September to $3,068 in October.

New York City One Bedroom Rental (East 70's)

Upper East Side One Bedroom Rental - East 72nd Street

Please contact Jeffrey Ditri to schedule an appointment:

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: Upper East Side / East 72nd Street DESCRIPTION: Well maintained, walk-up building Third floor unit Newly renovated kitchen including appliances and new cabinetry Marble bathroom, new fixtures Large living room featuring a southern exposure view, over looking tree lined street Three storage closets High ceilings 10' X 10' bedroom New hardwood floors Brand new renovations Live-in super Priced below market value Excellent Upper East Side location; near all transportation, restaurants, Hunter College, Midtown, and Central Park TRANSPORTATION: LISTED RENT: $1,695 CONTACT: Name: Jeffrey Phone: 610.781.8417

Upper East Side One Bedroom Rental - East 72nd Street

Please contact Jeffrey Ditri to schedule an appointment:

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

Luxury homebuilder's revenue plummets

Toll Brothers, the country's largest luxury homebuilder, said its fourth quarter revenue fell 41 percent, due to the credit crisis and falling demand for luxury homes. Fourth quarter contract cancellations rose to 233, or 30 percent of contracts, and net contracts signed fell 27 percent. In fiscal year 2008, Toll closed on 4,743 homes, which the company said was its lowest number since 2002. The company has urged the government to take action to bring buyers back into the real estate market.

Luxury units face mark downs

As of last week, 847 listings in Manhattan priced over $5 million were marked down, 24 percent of them by at least 5 percent, according to Streeteasy.com. Of the marked down units, 145 of them were discounted in the past two months. At 15 Central Park West, 11 apartments are for sale, and five of them have had price cuts. At the Plaza, 24 units are for sale, nine of which were marked down.

Sales prices drop in some Manhattan Neighborhoods

Some of the city's neighborhoods have started to see the economic downturn in lower home sales prices. Prices in Harlem were down almost 20 percent between third-quarter 2007 and third-quarter 2008. Prices for condominiums in Midtown East, Turtle Bay, Midtown West, and Hell's Kitchen also dropped substantially. Experts expect to see further price declines in the fourth quarter. Brokers said they have been urging sellers to price their apartments 10 or 15 percent below recent comparable sales.

Upper East Side 2nd Avenue Rental

Upper East Side Studio Apartment - Brand New Under Market Price

Please call JAD Realty Group for further details:

Jeffrey Ditri

JAD Realty Group, LLC.

Broker | Owner

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

LOCATION: Upper East Side / 2nd Avenue VIDEO TOUR: 2nd Avenue Studio DESCRIPTION: Well maintained, walk-up building Second floor unit Separate kitchen including new appliances and cabinetry Tiled bathroom, new fixtures Large living space featuring a western exposure view Bright apartment, two large windows Four storage closets New hardwood floors Live-in super Priced below market value Excellent Upper East Side east location; near all transportation, restaurants, Carl Schurz Park, Midtown, and Central Park TRANSPORTATION: LISTED RENT: $1,495 CONTACT: Name: Jeffrey Phone: 610.781.8417 DON'T LIKE WHAT YOU SEE? HERE IS ANOTHER STUDIO RIGHT AROUND THE CORNER: East 88th Street Studio

Upper East Side Studio Apartment - Brand New Under Market Price

Please call JAD Realty Group for further details:

Jeffrey Ditri

JAD Realty Group, LLC.

Broker | Owner

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com

New York's 20 Most Expensive Rentals

The stock market is down nearly 500 points this afternoon, we're in the middle of a deep recession, and tens of thousands of New Yorkers have lost their jobs. But if by some crazy chance you've managed to avoid the pain and suffering and you're looking for, say, a five-bedroom penthouse in Midtown, it's never been a better time to swoop down and make an offer. The prices of dozens of luxe apartments have been slashed in recent weeks. And while the rental market hasn't been crushed just yet, prices are very, very negotiable. That $60,000-a-month rental? You might just be able to offer up $30K a month and walk away with a deal. After the jump, the 20 most expensive apartment rentals in Manhattan, including Donald Trump's insanely overpriced $200,000-a-month penthouse at 502 Park, and Mary-Kate and Ashley Olsen's equally ridiculous $47,500-a-month West Village spread.

1. 502 Park Avenue (Trump Park Avenue)
Bedrooms: 4
Baths: 6
Square feet: 6,200
Price: $200,000 a month
Listing: Prudential Douglas Elliman

2. 100 East 50th Street (Waldorf Towers)
Bedrooms: 3
Baths:3.5
Square feet: 3,200
Price: $130,000 a month
Listing: Brown Harris Stevens

3. 100 East 50th Street (Waldorf Towers)
Bedrooms: 3
Baths: 3.5 Baths
Square feet: 3,800
Price: $95,000 a month
Listing: Brown Harris Stevens

4. 100 East 50th Street (Waldorf Towers)
Bedrooms:4
Baths: 4
Square feet: 4,000
Price: $75,000 a month
Listing: Brown Harris Stevens

5. 106 Central Park South
Bedrooms: 5
Baths: 7
Square feet: 5,233
Price: $70,000 a month
Listing: Brown Harris Stevens

6. 1 Central Park West (Trump International)
(Short Term, Furnished)
Bedrooms: 3
Baths: 3
Price: $65,000 a month
Listing: Prudential Douglas Elliman

7. 100 East 50th Street (Waldorf Towers)
Bedrooms: 3
Baths: 3
Square feet: 3,500
Price: $65,000 a month
Listing: Brown Harris Stevens

8. 151 East 58th Street (One Beacon Court)
Bedrooms:3
Baths: 3.5
Square feet: 2,936
Price: $55,000 a month
Listing: Corcoran

9. 1 Central Park West (Trump International)
(Short Term, Furnished)
Bedrooms:2
Baths: 2
Price: $53,000 a month
Listing: Prudential Douglas Elliman

10. 502 Park Avenue (Trump Park Avenue)
(Owned by Alex Rodriguez)
Bedrooms: 4
Bathrooms: 6.5
Square feet: 4,600
Price: $50,000 a month
Listing: Modlin Group

11. Greenwich Village Loft
Bedrooms: 4
Baths: 4
Price: $50,000 a month
CitiHabitats

12. 995 Fifth Avenue
Bedrooms: 5
Baths: 5.5
Square feet: 4,357
Price: $50,000 a month
Listing: Corcoran

13. Fifth Avenue Apartment
Bedrooms: 7
Bathrooms: 7
Price: $50,000 a month
Listing: Brown Harris Stevens

14. 13 Gramercy Park
Bedrooms: 4
Baths: 3
Square feet: 4,300
Price: $49,000 a month
Listing: Corcoran

15. 161 West 61st Street
Bedrooms: 4
Baths: 5
Square feet: 6,136
Price: $45,000 a month
Listing: Corcoran

16. One Morton Square
(Owned by Mary-Kate and Ashley Olsen)
Bedrooms: 5
Baths: 4.5
Square feet: 5,725
Price: $42,500 a month
Listing: Stribling

17. 15 Central Park West
Bedrooms: 3
Bathrooms: 3
Square feet: 2,909
$40,000 a month
Listing: Brown Harris Stevens

18. 351 East 51st Street
Bedrooms: 3
Baths: 4
Square feet: 4,473
Price: $39,999 a month 
Listing: Corcoran

19. 135 Central Park West
Bedrooms: 4
Baths: 3.5
Price: $39,500 a month
Listing: Corcoran

Bedrooms: 5

Bathrooms: 2

Price: $39,000 a month

Listing:

Foreign buyers struggle to buy in U.S.

Foreign buyers are finding it increasingly difficult to purchase U.S. real estate as mortgage interest rates increase by several percentage points and down payments rise to 50 percent for some homes. Europeans had been buying an increasing amount of U.S. real estate over the last few years as the dollar weakened. Real estate agents say that only all-cash deals are easy after the credit crunch.

New Upper East Side Studio Rental (2nd Avenue)

Brand New Upper East Side Studio Rental (2nd Avenue & East 91st Street)

Take a Video Tour Here!

For further detail, please contact Jeffrey Ditri:

mobile: 610.781.8417

email: jeffrey@jadrealtygroup.com