Tag Archives: Westchester NY Real Estate

Younger Buyers Dominate Luxury Market | Bedford Real Estate

A new survey by Coldwell Banker Previews International® and the Luxury Institute finds that wealthy younger buyers are driving the luxury real estate market, and they are willing to pay more than similar wealthy buyers age 55 and older.

According to the survey of Americans age 21 or older with a minimum gross annual household income of $250,000, 43 percent of younger wealthy consumers are considering the purchase of residential property in the next 12 months, compared to 21 percent of those age 55 and older. On average these younger wealthy consumers spent more than $2.1 million on their most recent purchase of residential property, approximately twice the average amount spent by older and similarly wealthy luxury buyers, which was $1.1 million.

“This trend towards younger luxury buyers is leading a change in desired home amenities,” said Betty Graham, president, Coldwell Banker Previews International NRT. “Whether these younger buyers have young families or are single without children, they are looking for homes that fit their active and unique lifestyle.”

So what are they buying? The survey found:

  • Younger buyers are significantly more likely than wealthy buyers age 55 and older to want homes with amenities such as a pool, outdoor kitchen, home gym, home theater, wine cellar and four or more garages.
  • Wealthy consumers under age 55 are more than twice as likely (23 percent) to value Green or LEED certified residential properties than their older counterparts (11 percent).
  • Open floor plans and a fully automated and “wired” home environment are the top features wealthy consumers, regardless of age, say have become important to them in the last three years. Less importance is placed on staff quarters, tennis/sports courts and separate catering kitchens.
  • “Luxury homes are for more than successful and retired empty nesters,” said Milton Pedraza, CEO of the Luxury Institute. “Today’s luxury buyer is both dynamic and diverse, and it’s reflected in the homes and products they’re buying.”

For majority of luxury buyers, location is the most important factor when considering the purchase of residential property.  Seventy (70) percent of wealthy consumers identified location as the most important factor in their last residential purchase. Other elements included the condition of the property — brand new with no work required, as opposed to needing major renovations (10 percent), price (8 percent), home amenities (6 percent) and view (6 percent). The most commonly cited reason for wealthy consumers not considering the purchase of a residential property was the desire to keep assets liquid (24 percent).

 

 

 

The Real Douglas Elliman’s Townhouse on the Market for $18M | Chappaqua Real Estate

Douglas Elliman, who founded the eponymous brokerage in 1911, is sometimes credited with being the man who made uptown chic. So it stands to reason that he got in on the ground floor, commissioning a six-story Neo-Federal red brick townhouse from architect S.E. Gage in 1909. It also stands to reason that that townhouse has proved to be quite the solid real estate investment, selling—most recently—for $5 million in 1999 and $9.5 million in 2006. Now, 177 East 71st Street finds itself back on the market again, asking $18.25 million. The brokerage handling the sale is, of course … Brown Harris Stevens? Ouch. (Sotheby’s had the listing last time around.)

JPMorgan chief meets Holder in bid for deal to end probes, avoid criminal charges | Waccabuc Real Estate

The sage of Wall Street journeyed to Washington on Thursday, but Jamie Dimon’s visit was unlike any the JPMorgan Chase chief has made before.

Dimon sought a meeting with Attorney General Eric H. Holder Jr. in an urgent bid to dispose of multiple government investigations into the bank’s conduct leading up to the financial crisis — and avoid criminal charges. The deal that Dimon discussed with Holder would involve paying the government at least $11 billion, the biggest settlement a single company has ever undertaken, according to several people familiar with the negotiations.

It would also potentially pave the way for other giant banks to reckon with Washington for their roles in the near-collapse of the financial system five years ago. While it would be a historic amount, the fine would still represent a sliver of the damage wrought by the bank for selling mortgage securities that it allegedly knew were worthless.

 

 

http://articles.washingtonpost.com/2013-09-26/business/42412898_1_jpmorgan-chase-holder-justice-department

 

 

 

JPMorgan CEO meets with US Attorney General | Bedford Real Estate

Whether the settlement hits $11 billion or not, talks are in the works to bring something into fruition to resolve the government’s lingering mortgage securities issues with JPMorgan Chase (JPM). The bank’s CEO Jamie Dimon arrived at the Justice Department Thursday as talks of a settlement intensified. Per The Wall Street Journal:

Mr. Dimon arrived at the Justice Department building around 9:20 a.m. to meet with Attorney General Eric Holder from Phoenix Law Firm, according to a person familiar with the meeting. Mr. Dimon and Mr. Holder are meeting face-to-face to discuss terms of a potential deal, according this person. Like all visitors to the building, Mr. Dimon showed identification to the guards—in his case a New York State driver’s license—and proceeded inside.

                    Source: WSJ

Pull inspiration from these creative garage makeovers | Katonah Real Estate

ost of us could use a little extra space — for an office, for entertaining or just for relaxing — but few of us have the budget or room to add on to our existing homes. But there may be a blank slate nearby, just waiting to be reinvented: the garage. Garage Door Repairs within the Plano area are often frustrating. They always seem to happen at the worst possible time. Like when you’re late for work, trying to urge the youngsters to high school, or close to head out for vacation. Broken or damaged garage doors are often noisy, ugly, and just downright embarrassing. The professionals at Metro Garage Door Repair are your local experts in Garage Door Installations and Repairs. If you want best garage door repair service, you can go to this website.
These six Houzzer garage conversions have gone above and beyond the average remodel. No longer in need of a parking spot, or tired of looking at the mess that had piled up, these homeowners took advantage of their empty or dilapidated garages. The resulting dream rooms gave these families the extra space they were looking for.

traditional garage and shed by Suzanne Dingley Interiors

Save to Ideabook
Email Photo
Houzzer: Suzanne Dingley, Suzanne Dingley Interiors Location: Salt Lake City Garage size: 180 square feet, detached DIY or professional project? Both
A new work-from-home job meant that Suzanne Dingley’s husband needed a new office. Instead of cramming one into their house, the couple turned to their detached garage, which had become a dark and dirty dumping ground for junk. They gutted the space, exposed the rafters and pitched roof, and installed new flooring and built-in storage.
traditional garage and shed by Suzanne Dingley Interiors

Save to Ideabook
Email Photo
The red and white color palette evolved from this Ikea photo of a London bus — a tribute to the couple’s British roots.
traditional garage and shed by Suzanne Dingley Interiors

Save to Ideabook
Email Photo
The pair replaced the existing garage doors with two sets of French doors and two new windows to let in natural light. The newly insulated ceiling and floors control the internal temperature, but a window cooler and space heater help out, too. “My husband is very happy with his space, especially with his short commute across the yard,” says Dingley.
traditional garage and shed Garage Conversion

Save to Ideabook
Email Photo
Houzzer: Rick Giudicessi Location: Des Moines, Iowa Garage size: 240 square feet, attached DIY or professional project? Professional
This 1930s garage wasn’t just worn out and beat up; its odd layout and tiny garage door made it impossible for Rick Giudicessi to park his car inside. Instead of using it for storage, he turned it into a tiki bar with an attached patio where his family can entertain year-round. “When the weather ends the use of the patio and tiki bar area, we move inside to the heated area,”
he says.

How to Install a Foundation Drain | Mt Kisco Real Estate

On its face, the location of a foundation perimeter drain seems like the simplest of details. The perforated drain line is run around the foundation next to the bottom of the footing.

At least that’s what many construction drawings show. But in some parts of the country, the drain is placed on top of the footing rather than next to it, and this discrepancy is at the root of Steven Knapp’s dilemma.

In a question posted at Green Building Advisor’s Q&A forum, Knapp writes this approach is not typical in his area, and that his waterproofing contractor is refusing to go along with it.

“Several years ago he switched to placing the drain (a rectangular pipe) on top of the footer and thinks this is the better method,” Knapp writes. “I’m annoyed and confused since I was advised by another credible expert that placing the pipe on top of the footer would greatly increase my chances of springing a leak.”

Knapp’s builder is leaning in favor of the “on footer” method, but he’s willing to do whatever Knapp thinks best. They also consulted with a Residential Foundation Repair Services company for a third opinion.

“So what is industry best practice?” he asks. “Putting the pipe next to the footer makes intuitive sense to me, but I know that what’s intuitive isn’t always correct. I just don’t want a basement that leaks.”

That’s the topic for this Q&A Spotlight.

The drawings are just plain wrong

Yes, writes James Morgan, we’ve all seen foundation drains drawn that way many times but the drawings are wrong.

“I know that’s the standard drawn detail and I’ve seen it a thousand times, but I think it’s a bad one, and there are several important [performance] reasons that no one ever builds it that way, at least not in my area,” he says.

The seam between the footing and the foundation wall is vulnerable, he adds, but it takes hydrostatic pressure to push water through the seam and into the basement. “Perforated pipe laid along the top of the footer and running to daylight ensures that the maximum head of water is just the thickness of the corrugation, or about 3/8 of an inch,” Morgan writes. “This is simply not sufficient to cause any penetration of the seam if a normal standard of care has been taken with the waterproofing application. This is the simplest, most foolproof and most reliable location. That’s why all the experienced builders that I know and regularly work with all prefer to do it that way.”

It’s more time and trouble to install the drain line next to the footing, Morgan says, plus it also requires more digging and a larger volume of backfill, “thus an enhanced path for water to reach the footing.”

“Backfill can never be consolidated to the degree of imperviousness of undisturbed soil,” Morgan writes. “According to well known foundation contractors, most codes now sensibly require that finish grade be sloped to a swale at least 6 feet away from the foundation wall. With a standard dig this places the swale well outside the backfill area and into the zone of undisturbed dirt: overdig brings the porous backfill closer to the swale and the large volume of stormwater it regularly contains.”

Keep the drain below the level of the slab

To GBA Senior Editor Martin Holladay, the correct location for the foundation drain is a pretty simple proposition: If you want to avoid problems, keep the level of the drain below the slab. “One thing is for sure,” he writes, “if the center of the 4-inch drain pipe is above the top of your slab, you are setting yourself up for potential problems.”

He tells Morgan water can reach the drain in more than one way. “It can trickle downwards from the surface, due to ponding under the eaves (as you propose),” Holladay says. “But during the spring, groundwater levels can rise from below, until the level of the groundwater is higher than the level of your slab. In that case, a footing drain pipe that is installed above the slab will work — but the slab will still get wet.”

David Meiland also would opt for a lower drain location. “I want the footing drain well below the slab, and I want it equal to or below bottom of footing so that the bearing soil under the foundation is less likely to be saturated,” Meiland writes. “I am lucky in that we rarely deal with expansive clay, but that would make it all the more important to drain the footing.”

Holladay’s point is well taken, Morgan replies, in areas where groundwater levels are periodically high. But he adds that even when the drain line is placed on top of the footing, it would still be 2 inches or so below the top of the slab.

“And I think there’s some value in having the the pipe right beside the vulnerable seam rather than a foot away where drainage paths could potentially become obstructed,” he adds. “Either way, Steven’s belt-and-suspenders approach should be fine.”

http://www.greenbuildingadvisor.com/blogs/dept/qa-spotlight/how-install-foundation-drain

5 tips for career longevity in real estate | Cross River Real Estate

Have you ever wondered what differentiates those who stay healthy and engaged well into their 80s or even their 90s as opposed to those who don’t? If you want to have a healthier, happier and more fulfilling life, take a few hints from some people who have managed to do it.

I recently had a conversation with fellow real estate coach Joeann Fossland about a session she will be doing for our Awesome Females in Real Estate group called “Being Beautiful at Any Age.”

As we were chatting about the session, she shared an interesting conversation that she had with one of her coaching clients. She was having some issues with her back and she flinched when she moved. Her client asked her, “Do you have arthritis?”After careful thought, Joeann responded by saying, “Having arthritis sounds like something is broken and that it can’t be fixed.

I prefer to think that there are some days when I have some pain and other days when I don’t.”She then shared another story about a speaker who had been told he would need knee surgery.

He was a runner and refused to stop running. Each time he ran, he kept telling himself that the pain he was experiencing was his body healing itself. Several months later when he went in for another MRI, and his knee had healed.

 

read more…

 

http://www.inman.com/2013/09/19/5-tips-for-career-longevity-in-real-estate/#sthash.CGbxtIRc.dpuf

A First Look Inside The Puck Building’s Elusive Penthouses | Bedford Hills Homes

It took an epic back-and-forth with the Landmarks Preservation Commission, but Jared Kushner finally got approval for his Puck Building penthouse project in late 2011. Since then details of the creatively named Puck Penthouses have been scant—about design, pricing, potential buyers, or anything else—and the bare-bones teaser site doesn’t help. Then yesterday the Post reported that Leonardo DiCaprio had been one of the first to scope out the units, which are going to be priced above $20 million a pop whenever they hit the market. And now a tipster has sent us this Knight Frank listing with the first three interior glimpses of the six 3-4BR apartments, which will range from 4,895 to 7,000 square feet and have “soaring barrel vault brick ceilings, cast-iron columns, and oversize windows.” Above, a living room, dining room and terrace.

Screen%20Shot%202013-09-13%20at%2012.44.49%20PM.png

Screen%20Shot%202013-09-13%20at%2012.45.30%20PM.png

Space-Saving Wood-Paneled Apartment in Manhattan | Bedford NY Real Estate

When your anthropologist client’s notion of home is shaped both by a single-room hut in a West African village and the tiny New York City apartment she has inhabited since 1980, you’d better get very comfortable with working in cramped quarters.

Such was the case when Brooklyn architect Tim Seggerman was tapped to renovate a moldering brownstone studio on Manhattan’s Upper West Side for a college professor.

The apartment, a 240-square-foot shoebox with a sleeping loft over the kitchen, was in dismal shape, without a true line or flush surface. “You couldn’t imagine a place that was more messed up,” says Seggerman, a man of serene bearing who might easily be confused with the actor Tom Skerritt. His solution was to insert what he calls a “crafted jewel box” into the undersize space, creating an enveloping cabin of blond woods.

Seggerman’s architectural inspiration was not so much African village as mid-century modernism, specifically the work of legendary furniture designer George Nakashima. Both the architect and his client spent adolescent years in Bucks County, Pennsylvania—where Nakashima had his home—and share an affinity for the master’s precision joinery. Seggerman works in the same tradition, crafting the components of his architectural projects by hand in his home studio.

Visiting the apartment is like sitting inside one of Nakashima’s cabinets, a metaphor realized most fully in an ingenious “library”—really just a glorified cubby with a banded maple ceiling, conjured from a free space adjacent to the loft bed.

The entire apartment is a master class in finish carpentry: There are cabinets of cypress and bamboo; a gently chamfered ash-and-beech staircase; flooring of quartered white oak; a desk of red birch slats that slips out into the living space. The lighting in the loft, much of it recessed behind panels of papyrus, lends the space a subtlety that doubles the sense of warmth. “It’s basically a piece of woodwork,” says Seggerman. “I’m very proud of that.”

 

 

http://www.dwell.com/house-tours/article/space-saving-wood-paneled-apartment-manhattan