This 5 bedroom English manor-inspired residence offers an award winning Robert Dame design featuring the finest finishes such as reclaimed hardwoods, plaster walls and antique brick accents. Magazine quality interiors offer elegant living spaces. The property also features a gourmet kitchen, a master suite with a sitting room and a luxurious bath, 4 guest suites, a game room, loggia with a fireplace, a summer kitchen, a salt water pool with spa, beautifully manicured gardens and a 2 car garage.
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This modern penthouse apartment is a stunning, light-filled sanctuary in one of Manhattan’s most distinguished white-glove cooperatives on Park Avenue. Beautifully constructed, not a single detail has been overlooked in this elegantly renovated and sophisticated 3-bedroom, 3.5-bathroom Carnegie Hill home.
Enter from the semi-private landing into the sun-filled, expansive living-dining space with soaring 10-foot high beam ceilings, an elegant marble wood-burning fireplace and custom French doors that lead to the sweeping 70-foot terrace perched high above Park Avenue with scenic city views to the East River. With fantastic outdoor access and lovely indoor spaces, this home provides the perfect setting for versatile entertaining.
The spacious chef’s kitchen with custom cabinetry, honed stone countertops and top-of-the-line appliances, including a Sub-Zero refrigerator, Viking vented cooktop, oven and warming drawer, built-in Miele espresso maker and Viking wine refrigerator will delight even the most discerning chef.
Three meticulously appointed bedrooms offer comfort and tranquility. The luxurious master bedroom suite with its large picture window has an impressive walk-in closet and direct access to the terrace through two sets of French doors. The generously-sized second bedroom includes an en suite marble bath and Central Park Reservoir views, and the third bedroom, currently functioning as a library with pocket doors, features custom built-in cabinetry and bookshelves and fantastic sunlight thanks to an oversized single-paned double glazed window, one of many throughout the apartment. There is also a large powder room off the hallway which can easily be converted into a full bath.
The staff room, also with Central Park views and an adjoining full bathroom, is a private retreat, accessible from the rear hallway off the kitchen. Given its separation from the rest of the residence, it is perfectly suited as guest bedroom, office or gym. The rear terrace, while owned by the co-op, is only accessible by the penthouse floor and offers incredible Central Park Reservoir views. Custom millwork, dark oak floors, radiant under-floor heating in the master bath, a Creston sound system, ample closets and storage space, washer/dryer and central airthroughout distinguish this exceptional residence from the rest.
Built in 1927 and designed by renowned architect George Fred Pelham, 1130 Park is one of Carnegie Hill’s most desirable buildings nestled among the finest museums, charming boutiques, excellent restaurants and Manhattan’s finest private schools. Building amenities include a 24-hour doorman, concierge, bike room, private storage room in the basement, fitness room and a live-in superintendent. Pets are welcome. A rare and special offering.
With the summer approaching so quickly, Bostonians can finally come out of hibernation and enjoy Boston to the fullest. Part of that is taking advantage of the city’s incredible walkability.
According to Walk Score, Boston is the third most walkable city in the United States. With New York on the first place and San Francisco on the second place.
Boston received a “Walk Score” of 80.1, which is a 1.2 point increase in the city’s walkability score from last year.
To put that in context, the Walk Score is graded on a scale from 0 to 100 measuring the walkability of a given city. A score between 71-89 is considered “very walkable”. Meaning that most errands in the city can be completed on foot.
In order to determine the walkability scores for the cities, Redfin examined more than 10 million areas and processed more than 2 billion route for 2,500 U.S. urban communities.
The housing industry is being pulled in two directions. Baby boomers who have the cash flow to invest in real estate are still the priority for many builders. However, the up and coming millennial homebuyers have a new set of requirements for their future homes. So builders are scrambling to create houses for the new generation.
Millennials have become the top home-buying demographic according to a homebuilder’s conference in Las Vegas. This new generation accounts for 36 percent of US home purchases compared to 34 percent of homes bought by baby boomers.
In theory, younger Americans prefer urban neighborhoods. However 44 percent of them are buying homes in the suburbs according to new data. They desire bigger homes with more bedrooms than you would expect from first time buyers. This goes against the predictions of homebuilders that the millennials would opt for smaller homes. Many of the stereotypes about millennials are actually untrue; now that they have jobs they have good ones that pay well.
This doesn’t mean you should count the boomer buyers out. There are 76 million baby boomers in the US and in the next 15 years there will be twice as many Americans over 65.
According to AARP’s Aldea Douglas, boomers are whom you should be building for. In every state at least one third of the households are 55 or older. But the market is growing not just in terms of numbers but as a share of the US population. According to the data, 70 percent of boomers want to live in suburban neighborhoods with parks, walking trails and proximity to retail. They’re putting more money in than their millennial counterparts and they also have a clearer idea what they want.
Only time will tell which will become the dominating force in homebuilding.
Looking for a home? Check out our listings.
The 2016 housing market is predicted to be a seller’s market. So what does that mean for buyers this year?
Well, if you’re looking to purchase a home this year, you can expect increased prices, low supply and fierce competition. So, above all it’s important to keep an open mind and move quickly when you find a good match.
Here are the top 3 key tips for buyers looking for a home this year.
Be the early bird
According to a realtor.com survey, over 85 percent of buyers who plan to purchase in the next year will do so in the spring or summer. With around 50 percent more listings relative to the number of potential home sales, beginning your search early will save you from more competition later.
Comparison shop for mortgages
Mortgage rates are forecasted to hit 4.65 percent and prices are projected to rise around 3 percent over year in 2016. If you plan to finance your home, make sure you put just as much effort into selecting the right mortgage as you do the right home. A lower interest rate can make a major difference in qualifying for a home and save you tons over the life of the loan.
Consider buying a newly constructed home
In 2016, new homes are supposed to saturate the market – resulting in around a 16 percent increase year over year. Consider the new home options in your market. They’ll probably have less competition and have a wider selection. Though new homes usually have a higher price tag, they’re usually bigger and offer performance advantage and warranties that will save money in the long run on maintenance and operating costs.
The new Forbes ranking of the wealthiest individuals declared Abigail Johnson, CEO of Fidelity Investments, as the wealthiest individual in Massachusetts with a net worth of $14.7 Billion.
The Johnson family has been running Fidelity Investments throughout the company’s existence. Abigail took over as CEO in 2014 and has been overseeing America’s retirement money ever since. Abigail successfully generated an annual revenue of $15.9 Billion in 2015 for Fidelity and also built up quite a fortune for herself. In March 2016, Forbes listed her net worth as $13.1 billion but the 54 year old’s wealth has grown significant in the last few months.
In a study conducted by WalletHub, Boston has been ranked the healthiest home market in the U.S. Based on Census data and the American Housing Survey, these figures compared the 25 largest metropolitan areas in the United States, with the Massachusetts capital taking the top spot. The survey was established upon the following 7 figures:
-equity levels
-percentage of mortgages underwater
-downpayment percentages
-amount of time remaining until financial freedom from mortgages
-mortgage costs
-number of “easy” mortgages
-first time home buyer assistance and access to financing
Boston had the lowest interest rates at 4.23% (compared to 4.71% nationwide), as well as lowest share of easy mortgages at 9.25% (compared to 17.02% nationwide), and the lowest share of precarious morgages at 5.46% (compared to 9.97% nationwide.) “Easy” mortgages are defined as a mortgage obtained with no proof of income, assets, or debt, while “precarious” mortgages are defined as mortgages between 0-10% equity.
While Boston also placed second in the amount of underwater mortgages and equity levels, Boston did place third in the highest downpayment percentage levels. With Boston remaining a city with a high cost of affordability, this number has consistently remained high over the years.
Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.
There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.
Buyers should be monitoring rates closely and expect fluctuations. It’s crucial for potential buyers or refinancers to stay on top of rates, work closely with mortgage brokers or lenders and learn about their options. Due to the volatility of rates this year, borrowers will most likely see both lower and higher rates between applying and closing.
New England Prosperity 