Tag Archives: Armonk Luxury Homes for Sale

China’s penchant for property evokes US bubble mentality | Armonk NY Homes

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Amid the government’s effort to pass aggressive legislation designed to cool the housing market, China’s home prices soared to record heights in October, underscoring the persistent danger of a price bubble, Reuters reports.

China’s booming market is reminiscent of the U.S. bubble, since it is driven in large part the view that property is one of the soundest investments. The government has said it intends to pass legislation aimed at curbing a possible bubble as part of what Reuters called its “boldest set of economic and social reforms in nearly three decades.”

 

 

 

Source: Reuters

House Prices and the One-Armed Policymaker’s Dilemma | Armonk Homes

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I just got back from London, where I ran into a senior British official I hadn’t seen in some time. I asked him what was going on. “Another housing bubble,” he said, only half-jokingly. After being depressed for a few years, house prices in the English capital are rising at an annual rate of about ten per cent, and in some trendy areas the rate of increase is much higher than that. In the British media, there is already talk of the Bank of England raising interest rates sometime soon to head off another boom-bust cycle.

At least we don’t have that problem in the United States, I thought to myself. Or do we? At breakfast this morning, my wife informed me that our home, which we purchased a decade ago, in a gentrifying section of Brooklyn, has risen in value by another hundred thousand dollars. Over the past twelve months or so, prices on our once-modest street have jumped by about a third. And it’s not just brownstone Brooklyn. Listening to the radio the other day, I heard that in parts of Hoboken, across the Hudson in New Jersey, prices have jumped by forty per cent in a year.

Of course, the Brooklyn bubble—if that’s what it is—is a very localized phenomenon, and it’s partly a product of demographic shifts: sections of Brooklyn are turning into extensions of Manhattan. The further you go into the borough, though, the fewer signs you see of froth. In Bay Ridge and East New York, prices are rising at an annual rate of about five to ten per cent, according to the real-estate “heat map” on trulia.com. In Bensonhurst, Brighton Beach, and several other outlying neighborhoods, prices are falling. And for the New York metropolitan area as a whole, according to the widely watched S&P/Case-Shiller home-price indices, prices are rising at an annualized rate of less than five per cent.

Still, the fact is that real-estate inflation has returned to many parts of the country. According to the S&P/Case-Shiller index for twenty major cities, home prices rose by about thirteen per cent this year to August, which is a very rapid rate of increase, and one somewhat reminiscent of the bubble years—as the chart below shows. But, as in New York, there is wide variation. In Los Angeles, San Francisco, and Las Vegas, prices are rising at an annual rate of more than twenty per cent. In places like Boston, Charlotte, and Washington, the rate of appreciation is still below ten per cent.

 

 

 

http://www.newyorker.com/online/blogs/johncassidy/2013/11/house-prices-and-the-one-armed-policymakers-dilemma.html

Armonk NY Real Estate Weekly Report | #Robreportblog

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Armonk   NY Weekly Real Estate Report11/14/2013
Homes for sale85
Median Ask Price$1,999,000.00
Low Price$499,000.00
High Price$24,900,000.00
Average Size5800
Average Price/foot$456.00
Average DOM166
Average Ask Price$2,953,827.00

Ancient and New Tell a Story in San Francisco | Armonk NY Homes

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A home should tell the story of its owner,” says interior designer Antonio Martins, the grateful second owner of this 1896 house in San Francisco’s historic Dogpatch neighborhood. Before he moved in, members of one family had lived in this house for nearly all of its 117 years, collectively adding to its character. Now Martins is adding his imprint through cherished finds from his travels, gifts from family and playful mixes of the very old and the very new.
Houzz at a Glance Who lives here: Interior designer Antonio Martins Location: San Francisco Size: 1,700 square feet Cost to remodel: About $200,000

“This neighborhood was full of Irish and Italian immigrants who worked the nearby shipyards and canning factory. The last resident, a man who lived alone, was born in this house,” says Martins, a Brazilian who lived in Hong Kong before settling in California.
By the time he found it, the house was in disrepair, and nothing had been renovated in the last 70 to 80 years, he says. But the home’s good bones were still there.
Martins moved forward with his professional hat on to stretch his budget as far as he could to rehabilitate this old Victorian and start a new chapter.
A 17th-century Italian statue from his mom welcomes guests in the long entryway. Scott Adkins of ProFab Metal Designs made the floating metal shelf, as well as other metal shelves throughout the house.
Martins collected the three metal designs hanging on the wall, created by Yutaka Toyota, years ago. “Toyota was big in Brazil in the 1970s and is making a comeback today as people are wanting to revisit that era,” Martins says. “I’m not interested in the trend; I simply love mixing different eras together.”
The living room is “my life’s story,” Martins says. The small white sofa in front of the bay window was a pickup in Hong Kong, where it furnished the compact apartment he lived in for 10 years. Flanking the sofa are two industrial benches used as petite end tables.
His grandmother’s traveling trunk now serves as a handsome coffee table around which two reproduction French chairs sit. The recamier is from France and was bought by Martins at an auction, as was the Chinese 18th-century side table. “It’s not about designing with what’s fashionable,” says Martins. “This room as well as the entire home is about what’s me — where I’ve been, who I am.”

Dodgers Ex-Co-Owner Jamie McCourt Buys In Napa for $11.25M | Armonk Real Estate

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Jamie McCourt, former CEO and co-owner of the Dodgers with ex-husband Frank McCourt, spent $11.25 million on the sweeping Napa Valley estate at 40 Auberge Road. Situated on over 21 acres next to the Auberge du Soleil resort, the property boasts a 4 acre working vineyard that yields between 6.6 to 10 tons per year, a 3,500-square-foot 2-bedroom main house, an architecturally renowned 2-bedroom guest house, and a show-stopping lap pool.

The main house was designed by Scott Johnson of Johnson Fain Partners. It contains two bedrooms, an office, a gym, and views of both the valley and the property’s outdoor space, which was designed by Roger Warner and Jack Chandler. The guest house, designed by Stanley Saitowitz, won an AIA Award for design.

The property’s former owner was attorney Robert Lieff, founder of the law firm Lieff Cabraser Heimann & Bernstein. He reportedly purchased the land in 1998 for $805K, and built the house and guest house over the next three years. He used the vineyard to produce a highly-regarded private-label Cabernet Sauvignon. He listed the property in April 2012 for $17 million, and then reduced the price to just under $15 million.

McCourt’s broker in the purchase was Ginger Martin, who has the current record for closing the sale on the most expensive Sonoma County property on record ($35 million). Martin was at one point the broker for the seller of 40 Auberge Road, and it’s not clear if she represented both sides of this transaction. Regardless, McCourt got the property for well under the original asking price, and now plans to split her time between LA and Napa. · Former Dodgers CEO Pays $11.25 Million for Napa Vineyard Estate [WSJ] · A Glass House In Napa Wine Country [WSJ] · 40 Auberge Road [Ginger Martin & Co.]

Schiliro Celebrates North Castle Supervisor Win | Armonk Real Estate

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Michael Schiliro is now the man in charge in North Castle.

With 100 percent of precincts reporting, Democrat Schiliro, a councilman, defeated incumbent Republican Howard Arden to become North Castle Town Supervisor, 56 percent to 44 percent.

The Republican majority of Arden and council members John Cronin and Diane Didonato-Roth had governed the town over the past two years. Arden and Cronin were defeated, and Didonato-Roth was defeated in a primary in September.

“It feels great,” Schiliro said.  “Campaigns are always a lot of hard work but they are enjoyable because you get to meet so many people. It’s a real privilege and honor to serve the town and to be chosen supervisor by the people of North Castle.”

Schiliro said residents were concerned about the financial health of the town and the lack of civility at meetings.

“Residents can expect a respectful government and a civil atmosphere,” Schiliro said. “Nobody will be talking over each other. We have cohesive board that will make well informed decisions. We’ll disagree, like a full functioning board should be doing. I’m looking forward to it.”

Arden blamed his loss on residents disapproving of the Brynwood Golf and Country Club’s development proposal. Brynwood is proposing 88 luxury condominium units for older adults.

In Sept. 2012, Arden, Cronin and Roth voted to accept Brynwood’s environmental review while Schiliro voted against it.

“You have to maintain integrity,” Arden said. “They have a right to present their application. We had never gotten to the point of making a decision. At the end of the day, it’s more important to maintain character and be fair and open.”

Arden said he plans to take a break from town politics.

“I put a lot of time and effort into it and the results were outstanding,” Arden said. “There shouldn’t have even been an election if you look at the results. I had two great years, the town is in the best financial and quality of life shape it’s ever been in.”

Republican Barbara DiGiacinto and Democrat Barry Reiter were elected to the town board with each getting 28 percent of the vote. Democrat Jose Berra had 22 of the vote, while Cronin had 21 percent of the vote.

Patricia Colombo ran unopposed for receiver of taxes, while Republican Douglas Martino defeated Democrat Linda Napolitano for town justice

 

 

http://armonk.dailyvoice.com/news/schiliro-celebrates-north-castle-supervisor-win

Barbara Corcoran, ‘Shark Tank’ star, says rejection helped build successful real estate career | Armonk Real Estate

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Straight D’s in high school, 20 jobs before she was 23, and a $1,000 loan from a boyfriend — who would have thought that the woman with this resume would become one of the most successful real estate entrepreneurs in the world?

 

At the California Association of Realtors Expo last month, Barbara Corcoran, founder of the Corcoran Group and star of TV’s “Shark Tank,” shared important insights that can help every Realtor who is struggling with their business and/or their personal life. Here are three of the most important points that she shared: 1. Make the most of what you’ve got Each of us has different strengths. Corcoran shared a story about when she was working as a waitress.

 

Apparently, one of the other waitresses was very well endowed and had an unorthodox style of serving food that had almost all the men sitting in her section. When Barbara turned to her mother for advice about how to attract more male customers to her counter, this was her mother’s advice: “If you don’t have big breasts, put ribbons on your pigtails.”This later became the title of her best-selling book that highlighted many of the key lessons that she learned from her mother.

 

The point is that the way you compete is by doing what is unique and authentic to you, not by trying to be something that you’re not. 2. “I’m great at failure”Corcoran’s life story is filled with failures: Straight D’s in school and 20 jobs before age 23 says it all. Corcoran’s life changed, however, when Ramone Simone sat down at her counter.

 

She immediately fell in love and set her sights on marrying him. Simone and Corcoran started a small real estate company. The company was beginning to do well when Simone announced he was in love with the company’s secretary and intended to marry her. It took Corcoran 18 months before she cut the ties because she couldn’t envision herself in business without him.

 

After they finished splitting the business assets, Ramone’s parting words are what spurred Corcoran to her success: “You will never succeed without me.”Her response was, “I would rather die that let him see me fail.”

 

 

– See more at: http://www.inman.com/2013/11/07/barbara-corcoran-shark-tank-star-says-rejection-helped-build-successful-real-estate-career/#sthash.RCwa3T7E.dpuf

Ten of the Tiniest Apartments For Sale in New York City | Armonk Real Estate

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While we all wait with baited breath for the city-sanctioned micro units to hit the market some time in 2015, there are already plenty of apartments throughout the city worth noting for their extreme smallness. We’ve looked at a number of them before, some impressive, some less so. Just for kicks, let’s take a peek at ten of the smallest apartments for sale in the city right now (based off apartments on Streeteasy that list square footage), starting with this 275-square-foot studio on Macon Street in Bed-Stuy, asking $143,850. All cash required.

This For Sale By Owner in Soho, also 275-square-feet, is asking $295,000, or just over $1,000 per square foot. Good news: it has a bathroom. Bad news: the wall separating the bathroom from the kitchen is about three feet high.

On the Upper East Side, this 300-square-footer has been on the market for almost three years and just upped its price to $750,000 ($2,500 per square foot). The shower appears to basically be a walled-off corner.

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Originally listed for $199,000 in October of 2011, this 300-square-foot studio in Murray Hill is down to $145,000, less because of the size than because it comes with a rent-stabilized tenant in place.

This 300-square-foot studio in Yorkville is essentially a short hallway with a bathroom and a kitchen, but props to the brokers for the excellent and un-deceptive photography. It’s asking $279,000.

Someone paid $329,000 for this 300-square-foot pad in Lincoln Square in 2011, and decided they wanted out less than two years later. The price was chopped for the second time last month, down to $324,700.

 

http://ny.curbed.com/archives/2013/11/05/ten_of_the_tiniest_apartments_for_sale_in_new_york_city.php