A snapshot of the East Village housing market

PropertyShark, a real-estate search engine and database, released a report this week titled "The Gist of the East Village Home Market."

A few takeaways from the report, starting with the median sale price for condos, co-ops and townhouses decreased 34 percent in April compared to April 2015 ... while the median rent just topped that of the Upper East Side.

Specifically:

• Home prices decreased by more than 30 percent year-over-year in March and April; the median price in April was $767,000

• The median rent in March and April reached $3,450, slightly more than on the Upper East Side

• 82 percent of all housing units built in the East Village are rentals, a higher percentage than the one for all of Manhattan (67 percent)

• The smallest home in the neighborhood spans only 250 square feet, yet sold for $500,000 back in 2006

• 34 is the median age of an East Village resident.

You can read the full post here.

And here are more factoids from a handy-dandy infographic via PropertyShark ...



The largest home mentioned in the chart might be this one at 210 E. Fifth St. (It was asking $25 million in 2012.)

Noted

Among the observations on the NYC real-estate market via a piece published this evening at DNAinfo:

Manhattan's Lower East Side continues its ascendance as the borough's hippest neighborhood: It's seeing a "significantly higher price point" and "a very different audience," especially when compared to neighboring East Village, said Jeffrey Schleider, of Miron Properties.

"The East Village is post-collegiate frat boy, where the Lower East Side is cool, artistic, fashion," he said, noting how one of the buildings they run in the area has attracted art dealers, kids of famous actors and others.

Report: East Village broker accused of rental bait-and-switch

An East Village-based broker is using the addresses of celebrity homes, including Anna Wintour's (!!!!), "in an apparent real-estate scam," according to the Post.

When Post reporters posing as prospective tenants answered the ads last week ... they were text-messaged back by unnamed real-estate salespeople. But each time the reporters tried to see the advertised apartments, they were met with excuses — they’re not available for viewing or they’re suddenly off the market.

They were then shown far less fashionable flats, and were ushered to the offices of St. Marks Place Realty at 36 St. Marks Place.

The undercover reporters then met with the real-estate firm's sole licensed broker, named as Jordan Marshall.

Dressed in a cheap suit, he launched into a high-pressure spiel: A just-viewed East Third Street apartment was listed by a major brokerage, and the rival firm was holding an open house that very afternoon. If the clients paid a $100 application fee on the spot and filled out a form, “We can stop them from renting it . . . This way we don’t lose it.”

When later confronted by the Post, Marshall repeatedly said "I’m not sure what you’re talking about."

Read the whole article here.

Also, Wintour's West Village home is not on the market.

Your 6-bedroom dream 'frat house' awaits you in the East Village

Oh boy! Via Craigslist ... let's check out the ALL-CAPS broker poetry:

HELLO NEW YORK CITY !!!!!WHERE TO BEGIN? THIS UNIT IS AWESOME! THIS UNIT IS BRAND SPANKING NEW! IT'S NOT TOO FAR EAST(AVE A). LETS CHECK THIS DUPLEX 6 BED 3 BATH ULTIMATE PAD. YOU CAN EITHER HANG OUT IN THE AMAZING LIVING SPACE, YOUR PRETTY BIG BEDROOM OR EVEN UP ON YOUR AMAZING ROOF DECK!!! BLEACHED WOOD FLOORS, CONDO LIKE BATHROOMS AND A KITCHEN THAT WILL EVOKE WONDERFUL MEALS. CONVENIENT TO UNION SQUARE AND ALL OF THE SOCIAL EVENTS YOU CAN SPEAK OF.LETS SEE IT.

Yes! [Head butts all around]

Here's another version of the ad, showing, randomly, a park that doesn't exist in this neighborhood.



No mention of the exact address of this frat house ... but I've got their disciplinary files right here.

Updated: It is a new listing at 205 Avenue A. Thank you Icon Realty for this mess!

H/T @galadarling

Previously on EV Grieve:
East 12th Street now home to "THE ONLY REAL FRAT HOUSE AT NYU!"

Report: Jared Kushner closes on latest batch of East Village walkups

The Kushner Companies have closed on its latest parcel of East Village buildings, Real Estate Weekly reported today. This was the $28.75 million deal for 329-335 E. Ninth Street and 325 E. 10th St., previously owned by Icon Realty.

If our counting is correct, then this makes 28 (29?) East Village buildings that Jared Kushner and his comapny have purchased this year.

Previously on EV Grieve:
Report: Jared Kushner paid $49 million for 7 more Ben Shaoul-owned properties in the East Village

More about Jared Kushner's East Village buying spree

Hotel Toshi takes over 325 E. 10th St.

Soon, we will all be writing our rent checks to Jared Kushner

'All uses considered' for former Litro space on East Sixth Street

[Last December via an EVG reader]

There's a Craigslist listing for 308 E. Sixth St., which last housed the short-lived Litro, an Italian cafe ...

Per the listing:

Retail Space Available Previously Restaurant at 308 East 6th Street!!! - $7995
Vacant Space Available includes...
900 : Ground Floor
700 : Basement

Ideal for Restaurant, Boutique, / all uses considered / convenience / clothing / quick food / yogurt / ice cream / meatballs / pizza / dry use
12 feet of frontage on East 6th Street
NO KEY MONEY
fully built out space with kitchen and Hood
Vented for cooking
ideal location in Great east village neighborhood.
Possession : Immediate

Meatballs?

As for Litro, it opened early in the summer... and, as far as we could tell, closed by the end of the summer. The restaurant sat in a rather miserable-looking state... and the notice from the marshal arrived on Feb. 1, as this photo from EVG regular peter radley shows....

2 East Village buildings part of $73 million deal

Catching up on this news release (PDF) via Massey Knakal from last week ... "11 prime multifamily walkup apartment buildings located on the Upper East Side and the East and West Village, with an additional 40-unit property located in downtown Brooklyn, was sold in an all-cash transaction valued at $73,000,000."

The two units here are 438-440 E. 13th St. ...

... and 104 E. Seventh St. at Avenue C (a building that workers have been cleaning up in recent months...)

The Real Deal had more details on the transaction... Stone Street Properties, headed by Jeffrey Kaye and Robert Morgenstern, reportedly bought the properties from "longtime Manhattan landlord Robert Koppelman."

Per The Real Deal: "Stone Street manages its properties in-house, aiming to add value by reconfiguring and renovating apartments." Massey Knakal's news release noted that "roughly 72 percent of the units are rent regulated with average monthly rents considerably below market."

Have any tips about the situation here in these two East Village buildings? Please send them our way via the EV Grieve email

Noted

A reader pointed out this new listing for an apartment on East Sixth Street... looks like a nice place ... near restaurants and coffee shops and...

Not exactly sure where they were going with this description. We'll just go ahead and put it down for tranny bars.

Another building for 'single family conversion' — with air rights!

607 E. Sixth St. near First Avenue is the most recent East Village property to appear on the market. Here's the Massey Knakal listing:

A 21‘ 5” wide, 5 story multifamily walk-up apartment building. The building is approximately 5,061 sq. ft. and is currently configured with 5 apartments. The property also benefits from additional unused air rights, southern light, some original detail, and a large 37’ deep garden. As the units are all free market, making the building great single family conversion or live plus invest opportunity.

The price: $3.5 million.

And this is just the latest building to hit the market with both air rights and single-family aspirations.... such as this one on Avenue D ... this one on Avenue B ... or this one on Seventh Street ...

A record-setting sale at 221 First Avenue

Massey Knakal sent out a news release yesterday about the sale of 221 First Avenue between 13th Street and 14th Street for $4.4 million. The buyer and seller weren't named.

According to the release:

The four-story property is approximately 3,954 square feet and sits on a 22’ x 56’ lot. There are three fully renovated three-bedroom apartments that are free market. The 1,050 square foot retail unit on the ground floor is currently leased to Señor Pollo, a Latin American chicken and sandwich bistro. The 3 floor-through apartments which rent on average for $4,900 per month benefit from fireplaces, exposed brick, and either a private roof deck or large terrace. The property also benefits from its close proximity to transportation, shopping, dinning and parks. The sale price equates to $1,112.80 per square foot.

“This sale represents the highest price per square foot ever paid for a mixed-use investment property in the East Village,” said Massey Knakal Vice Chairman John F. Ciraulo ...

Miracles in real-estate listings: The two renovated apartments that look exactly alike

Last week, we pointed out the newly renovated apartments at 222 Avenue B were now on the market... Here's the listing...



And here's what the listing shows for the bathroom and living room...




This must be a popular interior look.... As an eagle-eyed reader notes, these very same photos are also used for a newly renovated Lower East Side apartment listed at CitiHabitats...



Either real estate agencies are using stock photos... or, perhaps, someone is using the wrong photos...

Anyway, not sure where those double-doors lead to at 222 Avenue B... just looks like one door to me...

Three-building parcel on Avenue B now on market for $21 million

Massey Knakal has listed the three buildings making up 40-44 Avenue B.

Here's the description:

Three adjacent 24’ wide buildings combine for 72’ of frontage along Avenue B in the heart of the East Village. The properties are five-story plus basement walk-up mixed-use apartment buildings. The buildings combine for approximately 23,697 total above grade square feet. There are 4 stores and 33 apartments of which 1 is rent stabilized, 2 are rent controlled and the remaining 33 units are all free market. The buildings consist of 25 one-bedroom apartments and 11 two-bedroom units. The rent regulated units have average rents of $652 per month versus the average rent of a free market (renovated) one-bedroom apartment of $2,430 per month. The average rent of the two-bedroom units is $3,316 per month. In addition there are four retail stores that have leases expiring between February 2103 and June 2022. The average rent for the four stores is $62/SF, nearly 50% of what market rents are for retail along the Avenue B corridor. All of the free market units have been renovated to include new hardwood floors, marble tiles in the bathrooms, granite countertops and new appliances including dishwashers in the kitchens and washer/dryer in the units. ... Expenses are extremely low as the tenants in 40-42 have their own individual boilers and pay for their own heat and hot water. Vacancies at these buildings are few and far between.

No mention in the description that these buildings were heavily damaged during a four-alarm fire back in 2004.

All you need is cash on East Sixth Street

At $269,000, this two-room studio on East Sixth Street is one of the least-expensive homes on the market. (And the seller reduced the price by 10 percent last week...)





Here's the listing ... do those last three words give you pause?

East Village charmer! This lovely two-room studio has been recently renovated and boasts a modern kitchenette with a Gaggenau range, and cheerful custom bath with yellow and white penny tile. Classic prewar details include original pressed-tin ceilings, exposed brick and exposed beams. The layout of this studio is very functional, with sliding doors separating the sleeping quaters from the front of the apartment. Great light and open city views make this well-worth the walk up to the fifth floor! CASH BUYERS ONLY

On Avenue C, get a Tetsu Ohara-designed home with 'potential terrace'

Hmm. Here at 149 Avenue C, there's a one-bedroom co-op new to the market for $525,000. Here's a listing:

Quality, Perfection (and perhaps a terrace!) This gorgeous renovated home exudes style and is perfectly located in the hippest part of the East Village only 1 1/2 blocks from Tompkins Square Park. Meticulously designed by Tetsu O'Hara, this home boasts subtle carefully placed angles that invoke intrigue as you examine the space more closely. The sleek hand crafted wall cabinet provides a clear focal point and is backlight for evening ambience. The exposed brick adds warmth and the three exposures add natural light. The beautiful kitchen features maple cabinets, Corian counters, a Miele cooktop and a showpiece Grohe faucet. The windowed bathroom is classic white with a green glass tile border and there is a walk in closet in the master bedroom. This is an exceptional opportunity to possibly acquire rights to build a private deck on an adjacent 10x12 ft outdoor space (subject to board approval).

So you'd build this terrace on someone else's outdoor space? Oh, and it's Tetsu Ohara, not O'Hara. He's Japanese, not Irish. Anyway, pretty nice looking space...





See for yourself during the first open house on Sunday from noon to 1:30 p.m. You'll be out before the boozehounds show up for the free booze at the Sunburnt Cow.

So what's the least expensive apartment now for sale in the East Village?

That would be at 99 Avenue B between Sixth Street and Seventh Street... (At least according to Streeteasy listings.) This is a 265-square-foot unit going for $225,000 (that's $849 per square foot).

Here's the listing for the home that has been on the market for 147 days:

WELCOME HOME to this Prime East Village Gem! Situated just steps from Tompkins Square Park and the beautiful "6th & B" community garden, this darling studio apartment is the perfect oasis in the middle of it all. Located in a renovated pre-war elevator co-op, this first floor unit features hard wood floors throughout, exposed brick walls, track lighting, updated pullman kitchen, windowed bathroom, and a generously sized private storage unit. Building amenities include a common courtyard space, landscaped roof deck with fabulous views of Manhattan, laundry room, and bike room. Pied-à-terres and parents buying for children are permitted, and pets are allowed. Don't miss out on this wonderful opportunity and fantastic VALUE!

And no mention in the listing of being so close to one of the better bars around — Manitoba's?

A lot of house and yard for $1 million on East Ninth Street

I'm always on the lookout for interesting real-estate listings in the East Village... and this listing on Trulia for 735 E. Ninth St. fits the bill...



Obviously a mistake... unless someone leaked Bloomberg's vision for the area...

For this East Sixth Street co-op, all you need is cash

There's a new listing for a fouth-floor unit at 440 E. 6th St. between First Avenue and Avenue A. Currently priced at $550,000... (and no mention of square footage...)

A steal for this charming one bed in the heart of the East Village. Loaded with pre-war detail including hardwood floors, picture moldings and high ceilings. Gracious entrance through a long hallway with double closets. Eat-in windowed kitchen with slate floors. Enjoy 3 exposures and tree top views from this sunny 4th floor home of an elevator building with a live in super. Please note the purchase must be all cash.

We'll check back in a year to see if it's still on the market...

Good-looking people (we assume) wanted to show East Village apartments

A reader sends along this ad from Craigslist:

Property Management, in the East Village, seeks ENERGETIC, UPBEAT, FRIENDLY personality, to meet & greet our potential tenants. Must be honest, hardworking, & reliable. Will be responsible for advertising with brokers & on Craigslist, showing apartments, and helping us screen new tenants. When not out with tenants you will be assisting with day to day tasks around the office: answering phones, filing, dispatching maintenance crew, etc. Real Estate experience a plus!!! Please respond with resume in the body of your email & recent photo. Resume's with Photo's will be given priority. Full-time, Part-time, & Students Welcome!!!!

Meanwhile, kind of related:
The Wall Street Journal has a piece today on a San Diego company that "aims to fill high-end empty houses with occupants who play the part of happy homeowners, in a bid to remove the price-depressing stigma of vacancy." The article features a woman who does this. She got the job via Craigslist. "When a real-estate agent phones, Ms. Clavin says, 'I live here' -- because technically, I do,' and provides a broker's number before the caller inquires further. She must keep the house spotless between 8 a.m. and 8 p.m. She usually gets only five minutes to light the candles, flip on music and disappear before a showing. If she has more time, she'll bake cookies to scent the home." How much longer before we see such a company sprout up here?

"Couple looking to by coop or condo" without need for a mortgage flier of the day

Spotted on Avenue A and Second Street.

Probably not

This storefront has been available for some time now on Second Ave at Third Street (the northeast corner).



Someone with a marker has asked a good question: