News

Voyeur: New York City’s Sconces

They are often overlooked and for good reason: You have to watch where you are going. But many are surprisingly handsome.

Voyeur | Sconces

The sconces of the city are often overlooked and for good reason: You have to watch where you are going. But many are surprisingly handsome.

What I Love: At Home With a Star of the New Courtroom Drama ‘Bull’

The actress Geneva Carr lives in an art-filled apartment in Harlem.

What I Love: What I Love | Geneva Carr

The actress, a star of the new CBS drama “Bull,” lives in a co-op in Harlem.

Shopping Guide: Ottomans

Tips on selecting ottomans, which help make a room feel relaxed and inviting.

Calculator: Sales Boom in New York City’s Suburbs

Does a dramatic increase in the number of suburban homes sold indicate a New York City exodus? Not exactly.

On the Market: Homes for Sale in Brooklyn and Manhattan

This week’s properties are in Greenwich Village, the Gramercy area and Gowanus, Brooklyn.

On the Market in New York City

This week’s properties are in Greenwich Village, the Gramercy area and Gowanus, Brooklyn.

On the Market: Homes for Sale in New York and Connecticut

This week’s properties include a four-bedroom in Croton-on-Hudson, N.Y., and a five-bedroom in New Canaan, Conn.

On the Market in the New York Region

This week’s properties include a four-bedroom in Croton-on-Hudson, N.Y., and a five-bedroom in New Canaan, Conn.

360 View: What Will a Trump Presidency Mean for New York Real Estate?

Real estate executives are hopeful that Mr. Trump’s tax plans could help New York’s flagging luxury housing market.

The New Old Age: They’re Growing Older. Their Mortgage Debt Is Growing Deeper.

After pulling cash from their homes during the boom years, many older people are saddled with rising debt, making retirement more difficult.

Where to Be Single in New York

Even in this age of dating apps and websites, neighborhood continues to play a huge role in how, and whom, people choose to date.

5 countries people are flocking to for cheap medical care

BankRate - Thu, 11/17/2016 - 19:00
Americans save big on surgeries in these places where medical tourism is booming.

New credit card accounts rise to near pre-recession levels

BankRate - Thu, 11/17/2016 - 19:00
The number of new credit cards Americans are opening is on the rise.

5 dumb car-leasing mistakes that will cost you more

BankRate - Thu, 11/17/2016 - 19:00
Car leasing can make financial sense, but not if you overlook these details. 

10 tips and tidbits to make Thanksgiving travel easier

Daily Herald - Thu, 11/17/2016 - 17:27
Here are 10 facts and tips for your Thanksgiving getaway. And yes, they include getting to the airport early considering you'll be competing with 3.7 million others to squeeze through security lines.

The Real Cost of Famous New York City Apartments

Real Estate News - Thu, 11/17/2016 - 15:41

In TV sitcoms, life in a New York City apartment—and all its colorful trappings—is the stuff of fantasy. But in the real world, where prices for condos and apartments in New York reach record-breaking levels each year, owning property like the West Village loft from “Friends” could require the salary of an A-list actor.

The average price of a Manhattan apartment exceeded $2 million in 2016, according to Douglas Elliman’s Q1 Manhattan sales report. The median resale price rose on a year-to-year basis from $885,000 to $950,000 in the first quarter of 2016.

“(The) real estate landscape has shifted so profoundly over the last two decades that this generation’s girl-about-town occupies a very different kind of space,” Ronda Kaysen writes in a September 2016 article in The New York Times. “And it is [space] that keeps shrinking.”

No matter how small the apartments in New York City may be, demand will always be high. Such has been the case at Carmel Place, a new housing development that features affordable “micro-units” that range between 265 square feet and 360 square feet, which already has a lottery of over 60,000 people who want to live there.

Here are four TV apartments that once upon a time could be had by their characters at favorable prices.

1. “Friends”

 

 

 

 

 

 

 

 

 

The two-bedroom apartment where Monica (Courtney Cox) and Rachel (Jennifer Aniston) lived is where most of the comedy and drama of NBC’s “Friends” took place. The apartment’s patio and favorable location on 90 Bedford Street in Manhattan made it the perfect rental for two young professionals. It was also at a time when renting in Manhattan was relatively manageable. When “Friends” was in its second season in 1996, median rents in Manhattan were $2,000, reports The New York Times. Today, the median rent is $3,344 a month—an increase of 67 percent.

In 2015, the Corcoran Group estimated that the purchase price for Monica’s apartment would be $2.3 million—not exactly affordable for two young professionals trying to make it in the big city.

2. “I Love Lucy”

Life in New York City in the 1950s was unbelievably affordable, if “I Love Lucy” is any proof. Ricky Ricardo (Desi Arnaz) and his wife Lucy (Lucille Ball) paid $125 a month for their one-bedroom railroad apartment on East 68th Street (between York Avenue and the FDR Drive).

What’s more, the couple signed a 99-year lease, which, if they managed to live throughout the duration of that lease, they would have paid nearly $150,000 over the lease’s lifespan. That’s far cheaper than the $899,000 price tag of the apartment in 2015.

3. “Mad Men”

Having just gone through a divorce from his first wife while launching a new company, advertising genius Don Draper (Jon Hamm) of AMC’s critically acclaimed show “Mad Men” wasn’t in the best position to buy an apartment in 1960s New York City. Draper’s bachelor pad in Greenwich Village would cost him an estimated $200 per month in rent, according to realtor.com®. In 2015, that rent would be $5,500.

Then Draper remarried, and now flush with cash from the success of his new company, Sterling Cooper Draper Pryce, Draper moved uptown into a penthouse apartment on 783 Park Avenue. In 1965, Draper purchased this stylish apartment for $55,000. In 2015, that apartment was valued at $8 million. Good thing Draper bought it at the right time (and the right decade).

4. “Girls”

 

 

 

 

 

 

 

 

 

 

The tiny rental in Greenpoint, Brooklyn where Hannah Horvath (Lena Dunham) lives a hand-to-mouth existence is typical for a young post-college professional. Until recently, Brooklyn had been a refuge for New Yorkers priced out of Manhattan. But today, Brooklyn is experiencing record-setting price hikes. The average Brooklyn condo sold for $1.145 million in the third quarter of 2016, 24 percent higher than the same quarter in 2015. While Horvath’s apartment isn’t cheap, it can be purchased for $750,000.

This was originally published on The Home Story.

This was published on RISMedia’s blog, Housecall. Visit the blog daily for housing and real estate tips and trends.

The post The Real Cost of Famous New York City Apartments appeared first on RISMedia.

‘Relatively Soon’ Rise for Interest Rates as Mortgage Rates Shoot Up Post Election

Real Estate News - Thu, 11/17/2016 - 10:58

A rise in the key interest rate could come “relatively soon,” Federal Reserve Chair Janet Yellen reiterated on Thursday, heightening the probability the Fed will forge ahead with a hike in December, despite initial doubts in the wake of Donald Trump’s presidential victory. Mortgage rates, which generally follow the key rate, shot up this week, with the 30-year fixed rate mortgage topping out at an average 3.94 percent from 3.57 percent the week prior.

“This week, the verdict is in—over the last two weeks, the 30-year mortgage rate jumped 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield,” says Sean Becketti, Freddie Mac’s chief economist. “If rates stick at these levels, expect a final burst of home sales and refinances as ‘fence sitters’ try to beat further increases, then a marked slowdown in housing activity.”

Yellen’s position—which comes as the dust settles after one of the most contentious elections in history—reinforces the sentiments of Federal Reserve Bank of Philadelphia President Patrick Harker and Federal Reserve Bank of St. Louis President James Bullard, who both voiced support for future hikes this week.

Yellen also echoed the Fed’s intent to only gradually raise the key rate. The Fed last raised the rate in December 2015.

For the latest real estate news and trends, bookmark RISMedia.com.

The post ‘Relatively Soon’ Rise for Interest Rates as Mortgage Rates Shoot Up Post Election appeared first on RISMedia.


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