Monday, July 23, 2012

Deciding Between Buying a Condo or Buying a Home?

In your search for the right home, you will likely be doing a lot of footwork and analysis. Before you begin looking at actual homes, it is wise to determine how much home you can afford and the level of maintenance you desire. In doing so, you may find that the new home that best fits you is not a traditional single family house, but instead a home in a planned community or a condominium.
Your location, city or suburbs, is largely determined by your lifestyle and occupational needs. Cost is always as factor, as well, since living in the city often means less space for the same amount of money. Less space may lead to you exploring the condominium home market and the benefits and challenges that condo life introduces to home ownership.

When buying a condo, you often need to consider Homeowner Association (HOA) fees as you will be sharing the costs of overall property maintenance, along with the decision making power to make any changes on the property. For this reason it is extremely important that you review all Homeowners Association bylaws before making a condominium or planned community purchase.
Ask yourself these questions - to determine what type of property you value most.
  • Proximity – Where do spend your time? Where do you want to live? What type of housing is available in that location in your price range?
  • Neighbors – Would you prefer them to share your walls or need more separation? Would you prefer more privacy than condo life can offer?
  • Control – Do you like to share control over home matters or be the final authority? Do you care if you need to ask permission before making a change to your deck or paint?
  • Upkeep – Do you like the idea of a garden or would you rather never weed again? Yard maintenance handled by an association is a prime benefit for many condo owners.
  • Price – Can you afford the home? If there are association fees, are they reasonable?
Whichever type of home you decide to pursue, asking these questions will help you feel secure in the knowledge that your new home is suited to you and your specific needs. Happy home hunting!

If you are a interested on further information in the Minneapolis condo market, contact Ben Ganje with Downtown Resource Group.

Friday, March 25, 2011

What Drives Buyers To Purchase At Carlyle?



As a real estate agent with a focus in the urban markets I am constantly running through buildings throughout downtown Minneapolis. While every building has it's pros and cons there are a number of reasons plenty of my clients wind up making The Carlyle their permanent home. Below are the top 5 reasons buyers choose Carlyle:

  1. Proximity to the Skyway System - One of the driving factors people choose to live downtown is the ability to walk/bike to work assuming their office is located to not far. Aside from a small collection of older buildings downtown, Carlyle is the closest (1/2 block) to the Skyway System making it ideal for a short commute during the winter. Minneapolis has the largest skyway system in the world, linking nearly 80 blocks of downtown attractions, businesses and hotels.
  2. Full Amenity Building - Part of the luxury feel of Carlyle comes from the amenities in the building. The outdoor pool deck which is located on the 5th floor is the main attraction during the warmer months of the year and provides the perfect spot to watch the fireworks during the 4th and the Aquatennial. The fitness center and locker rooms complete with steam rooms are also located on the 5th floor and can be quite busy in the morning before 8am and late evenings. There are even 3 fully furnished guest suites which owners can rent out on a daily basis for $100/night.
  3. Full Staff and High Security - There are 32 video cameras throughout the Carlyle, 24/7 front desk attendant, a building manager and 4 caretakers who ensure Carlyle is a well oiled machine all the time.
  4. Price Spectrum - Carlyle has 1 bedroom resales that are in the high 200s all the way up to custom penthouse units priced in the multi-million dollar range. The attraction is that buyers from all price points have the ability to purchase within the building.
  5. Location to the Riverfront - Carlyle is at the edge of the Mississippi riverfront. Being able to walk out your door and wind up right on the River Parkway Road for a quick jog or bike ride is the urban experience buyers are looking for when making the move downtown.


Friday, January 28, 2011

Parents moving downtown with Toddlers



Michael Moshan bought his first condo in Williamsburg, Brooklyn, in 2003. A few years later he persuaded his girlfriend, Shana Liebman, to move there from the West Village. She was skeptical — she didn’t want to be surrounded by 20-somethings just out of school. But over the years the neighborhood, with its restaurants, bars and galleries, grew on her.

They were married in October 2006, the same month they closed on a condo on Roebling and North Seventh Streets for $725,000. To their surprise, they found a building filled with families. Now they can’t imagine raising their 15-month-old son, Nate, anywhere else.

“If you look at child-friendly parts of Brooklyn — Carroll Gardens, Brooklyn Heights, Park Slope — those neighborhoods are beautiful and safe and the schools are great and that is good for our kids,” Mr. Moshan said. “But is that good for us? We thought, if Williamsburg could mature into a neighborhood where kids can grow, then you’ve won.”

Families are discovering that Williamsburg is much more than a playground for the postcollege, skinny-jeans set. The neighborhood has a few private preschools; several indoor play spaces; art, movement and music classes; and a number of children’s stores, some of which were started by neighborhood parents. Many of the condo buildings rising all over the neighborhood feature playrooms, pools and other family-friendly amenities.

Mr. Moshan, 41, a lawyer and a partner in Gold Scollar Moshan, and Ms. Liebman, 36, a freelance writer, are among the converts. Ms. Liebman has found plenty to do with Nate. There’s Play, an indoor play center that opened this fall, with its movement and art classes for kids. Nate also loves the children’s shows on weekend mornings at the Knitting Factory, the concert hall. Ms. Liebman has met other parents through the Brooklyn Bambino e-mail group. They get together for play dates, coffee, even happy hour.

For the Moshans, their building has been the most surprising resource. The five multifamily town houses in the development run side by side for most of a block. In the Moshans’ town house, three of the four apartments are occupied by families. They share a nanny and watch one another’s children if someone has to run an errand. In the summertime the kids have the run of the sidewalk. And Ms. Liebman has come to know many families in the other town houses.

“You can go out in the neighborhood on a Friday night and feel sexy and single-ish,” Ms. Liebman says with a laugh. “And then wake up next morning with the kid and take him to the farmers’ market and the play center.”

Many younger single people have been priced out of the neighborhood. The new condo buildings rising on block after block of Williamsburg’s north side are a steal compared with Manhattan real estate, but hardly cheap. According to the appraisal firm Miller Samuel, condos in Williamsburg and neighboring Greenpoint sell for an average of $600 a square foot, half the going price of condos in Manhattan.

In some of the neighborhood’s most expensive buildings, like the Edge, developers are getting as much as $1,000 a square foot for some units. Despite all of the new inventory hitting the market, there is still plenty of demand, said Jonathan J. Miller, the president of Miller Samuel.

“Larger units were developed here as an alternative to higher-priced Manhattan,” Mr. Miller said. “Now that the smoke has settled, people can obtain larger living spaces for off-peak prices.”

Often those spaces appeal most to families.

Daniel Lamblin and Jenni Sohn used to live on the Lower East Side in a cramped apartment above a sign shop. It was dark, the kitchen was tiny, and the rooms were often filled with fumes when workers were cutting plastic signs below. With a daughter on the way, they wanted more space, more light, a decent kitchen and fewer toxic fumes.

Ms. Sohn, a multimedia producer for The Associated Press, followed a friend to an open house at Warehouse 11, a development on Roebling and North 11th Streets. She was taken instantly by the corner unit’s views of McCarren Park. “I was so sunlight-deprived, I couldn’t believe it when I walked in here and saw floor-to-ceiling windows,” she said.

She and her husband, an engineer at Google, closed on June 28, and their daughter, Sophie, was born the next day.

The couple have already met several parents in the building and noticed a few pregnant neighbors. To accommodate these families, the developer plans to wall off part of the oversized lobby to make a playroom.

Alex Signer, 47, the director of client services at Harkess-Ord, a brand implementation firm, and his wife, Ayumi Konishi, 45, the owner of Beige Creative, a design and video production studio, were also looking for more space to raise their twins, Miu and Teo. Then living in the financial district, they considered Park Slope, but Mr. Signer was turned off by the brownstone-lined streets and child-friendly restaurants. “Williamsburg is more industrial, it’s closer to Manhattan and we knew people here,” he said.

In August they moved into a $980,000 three-bedroom at 80 Metropolitan. Through his living-room window, Mr. Signer can see the Domino Sugar factory and the Williamsburg Bridge, partly obscured by the steel beams of new construction — just the industrial feel he wanted. Miu and Teo share a bedroom and have a separate playroom. Mr. Signer and the twins have met a number of the families at the building’s indoor pool. There is talk of starting a swim class for children.

Developers are adjusting to these changing demographics.

Douglas Steiner, the developer of 80 Metropolitan, has already combined several apartments to make six three-bedroom units for buyers, and he can create another seven if need be.

The change should not be surprising, said David Maundrell, the president of aptsandlofts.com, which is marketing Warehouse 11. Developers first sought singles and couples in their late 20s and early 30s. Many of those people, he says, will eventually have children, and developers are responding with amenities to appeal to them.

The high-end rental building at 184 Kent Avenue has a playroom, as do its high-rise neighbors Northside Piers and the Edge. Mr. Maundrell says that interest in two- and three-bedroom apartments is increasing. Buildings are staging events for parents. For example, 80 Metropolitan is planning a seminar on baby-proofing your home and a talk by Joyce Szuflita, a Brooklyn school consultant. She’s finding plenty of business in Williamsburg these days.

The influx of families can be seen in the growth of Williamsburg Northside Preschool, which opened as a day care center in 1999. By 2002 there were eight classrooms of children. In 2009 it added two classrooms for children 3 months to 2 years old. Now they’ve expanded to five daycare classes and have a wait list. The school, which now goes through the first grade, plans to expand through the fifth grade and to grow into a third building by 2013.

“I never thought that we’d be able to inhabit two buildings and be full and have a wait list,” said Amy Warden, the school’s director. These days, she says, the parents of her students are more affluent than they were. Years ago, nearly all the preschool’s graduates went on to local public schools. Now, nearly half go on to private school.

Ms. Szuflita says that neighborhoods like Park Slope and Carroll Gardens have had good public schools for decades, and that Williamsburg’s schools are improving, in part because parents are becoming increasingly involved.

In Park Slope, at the highly regarded Public School 321 in the school year ending in 2009, 92 percent of the fourth graders tested met standards in English and 95 percent in math. At P.S. 132 in Williamsburg, 85 percent met standards in both English and math. At P.S. 34 in Greenpoint, 86 percent met standards in English and 97 percent in math. These numbers compare with statewide averages of 77 percent in English and 87 percent in math.

Eve and Rich Kessner left the West Village for Park Slope with their daughter, Avi, last March. But after six months, they found themselves looking for a new place to live.

“It felt really suburban to me,” said Ms. Kessner, 29, a jewelry designer and blogger. “Park Slope has puppets and guitar strumming for kids. In Williamsburg, it is like rock ’n’ roll for kids.”

The couple bought a two-bedroom corner unit in the Edge, two towers on Williamsburg’s waterfront, and moved in at the end of December. They have already become accustomed to the building’s long list of amenities for adults and children: a full-size indoor basketball court where Avi likes to kick balls around with Ms. Kessner; a swimming pool and a separate shallow pool for children (another of Avi’s favorites); a screening room; a gym; and a large playroom.

On a recent morning at the Kessners’ new place, two workers were busy moving the couch and side tables into place while Avi brushed ink on a piece of paper and, almost instantly, onto the rug. A barge could be seen from the window, making its way up the East River.

“We really felt like this was the right spot, with all the bars and restaurants,” said Mr. Kessner, 29, the owner of New York Floorman and New York Paintman, home improvement companies. “We love it.”

That mix works for many parents. Ms. Sohn says that galleries have welcomed her and baby Sophie. Mr. Signer says that he is glad not every restaurant is child-oriented. He goes out to eat for the quality of the food, he said, not to take a census of how many highchairs a restaurant owns. For Ms. Liebman, the constant stream of good new restaurants has been an important part of what makes the neighborhood work.

“There are so many restaurants and bars,” Ms. Liebman said. “Every time you open Time Out we’re like, really? Another restaurant?”

Of course, there is a flip side. Not every restaurant has room for strollers and highchairs. The area’s bars and clubs can rock into the wee hours. Mr. Moshan says that the residents of his building are not happy with a bar that plays loud music in the summer.

Not that a place like Williamsburg shuts down for the winter. Late one recent night, Mr. Moshan heard the sound of people shoveling snow in the yard of a row house behind his building. They were clearing a space so that they could go outside to drink and smoke. Mr. Moshan worried that they would wake his sleeping son.

“I’m staring at them,” he said, “thinking how can I get them to stop? Then I think, what the hell happened to me? Am I that guy that wants the kids to get off his lawn?”

A little noise now and then is the price you have to pay, Mr. Moshan said. “That’s the neighborhood. It’s not Park Slope.”


Written by Jin Renden of the New York Times.

Thursday, January 20, 2011

Underground heated parking at Carlyle & in the market

For the past few weeks in Minneapolis temps have been hovering near zero. If the wind chill is factored into the equation we are currently living in subzero temperatures. The local stations update everyone on wind chill advisories and snow emergency parking restrictions. For those living in a condo in downtown Minneapolis one things is for sure: heated underground parking truly takes the bite out of winter for residents.
There is nothing quite like pulling your car out of a condo tower parking lot while it is snowing and braving the elements in a warm car. With the exception of a few condo projects(Falls/Pinnacle & Centre Village as well as plenty of smaller projects) in Minneapolis nearly every building includes parking within condo ownership. These parking stalls can be deeded with the property or acquired by license via the homeowners association. With the advent of warehouse conversions to lofts in Minneapolis, some buildings have valet parking as the only option due to the limited size of the footprint of the building making owner parking nearly impossible. Valet parking has been a mixed bag in this market from a buyers perspective. Buyers are not as willing to cough up the premium on a monthly basis for the additional fees and know they are not getting any ownership of a stall with a purchase.

Sunday, December 26, 2010

A New Roof That Works for a Living


There are green roofs, and then there are green roofs.

So when residents of Zeckendorf Towers, the condominium complex at One Irving Place on the east side of Union Square, voted to replace an aging conventional roof with an environmentally friendly one, they decided that a basic installation at $10 square foot — essentially sod and unlandscaped greenery — would not do. Instead, they chose elaborate landscaping with small hills, a wide variety of vegetation, pathways with paving stones and dramatic lighting.

The result is what the condo board believes is the city’s largest green roof, at 14,000 square feet. Installation of the seventh-floor rooftop, over a branch of Beth Israel Medical Center and bookended by four 29-story condo towers, began in April and was finished in October.

Although it is in winter mode, residents are already enjoying the visual benefits of the roof, which cost $330,000, or about $23.50 a square foot (minus a $60,000 one-time tax abatement from the city). The condominium paid for it from their reserve fund, said Hazel MacMurray, a board member at Zeckendorf Towers.

Residents, other than a handful who have private terraces, don’t have access to the roof, but for the rest, “The beauty is looking at it,” Ms. MacMurray said, adding, “You can see them just looking out. They’re experiencing the garden, and it just changes their lifestyle.”

Ms. MacMurray said she also anticipated that the green roof would benefit property values at Zeckendorf Towers. Currently, studio, one- and two-bedroom condos in the 670-unit full-block development, which was built in the 1980s, are listed at a median price of $1,315 a square foot, according to Streeteasy.com.

But any increase in values will last only as long as it takes for other buildings to catch on and retrofit their own rooftops, said Darren Sukenik, a managing director at Prudential Douglas Elliman and a top agent in Zeckendorf Towers. Many new residential developments are planning green roofs, he said, and they will eventually become the standard.

Zeckendorf Towers’ roof designer, New York Green Roofs, went to great lengths to make an all-season attraction for residents, said Amy Falder, a partner in the company. Witch hazel will burst into small yellow flowers in January, and striking plants like Japanese maple will have brilliant red foliage throughout summer and fall. Dogwood will display white blooms in spring, and anemones and balloon flowers will add to the profusion of color in summer and fall. Rhododendrons and upside-down ferns remain green year round. For the holidays, lights have been strung from tree branches.

Advocates say that green roofs, which have been common in Europe for years, offer a variety of benefits. First, the vegetation protects the roof’s membrane from cycles of freezing and thawing that can tear it, as well as from ultraviolet light that can wear it out, Ms. Falder said. This doubles the life of a green roof over a conventional one.

Also, a green roof provides insulation that makes the building envelope more energy efficient. Vegetation protects the roof from the wind in winter, and when covered in snow, the rooftop can be particularly effective at retaining the building’s heat, Mr. Brunner said. The rooftop’s cooling effects are even more pronounced in summer, when the vegetation can cut rooftop temperatures in half.

An analysis of green and black roofs published this year by Columbia University found that an unshaded green roof of 1,000 square meters (about 10,750 square feet) could save $330 to $350 a year in heating costs and $225 a year in cooling costs. In the case of Zeckendorf Towers, the energy benefits of its green rooftop will go to Beth Israel Medical Center, Ms. MacMurray said. The hospital space is a commercial condo, and Beth Israel is not paying for the roof.

Almost the entire rooftop at Zeckendorf Towers, even the tops of bulkheads, is covered in soil and mats of about a dozen species of sedum, which will transform into a carpet of green this spring, said Chris Brunner, another partner in New York Green Roofs, which has installed 35 green rooftops in the Northeast in the past five years, primarily in New York. Some species will take; others might not, he said, explaining that the roof will evolve over the years.

Ms. MacMurray said the whole city benefited when a green roof was built, because of their ability to retain storm water. According to a 2007 report by the environmental group Riverkeeper, a 40-square-foot green rooftop can absorb 810 gallons annually. So each year Zeckendorf Towers’ roof could prevent about 283,500 gallons of storm water from flowing into the city’s sewers and its flood-prone subway system, which has a major station below the towers.

“This green roof was really done to try to progress this building from the 20th century into the 21st,” Ms. MacMurray said, “and there are enormous environmental benefits to doing that.”



Sunday, December 12, 2010

Gorgeous 2 Bedroom in Carlyle for Sale!

This 2 bedroom unit on the 27th floor of Carlyle recently came on the market with flawless city & river views. Extensive designer upgrades, (cabinets, tiling, lighting, hardwood floors, appliances), electronic shades & wall panels, balcony with gas grill. Sale includes 2 garage stalls.











For a private tour of the Carlyle and full details of this listing please visit our site.


*Listing courtesy of Coldwell Banker Burnet.



Everyone always asks: Who was the architect for The Carlyle?


Humphreys & Partners Architects, L.P. is an Architectural and Urban Design, Master Planning and Land Planning firm engaged in the design of high-rise, mid-rise, mixed-use, luxury, senior, affordable, military and student housing - both rental and for sale - in markets across the country based in Dallas, Texas.

Humphreys & Partners can be summed up in one word - innovative. That one word describes the firms goals, work and the process by which they achieve them.

With eight U.S. offices employing over 125 people, the size and scope of the firm allows to handle the entire project continuum from design to construction.

Other notable Minneapolis Real Estate Condominium project Humphreys has done is Grant Park Tower in Elliot Park for Opus development in the early 2000s.

Thursday, December 9, 2010

New neighbors moving into the Mill District down the street!








New neighbors in the Mill District are the new Mill District City Apartments at 225 Portland Ave. which was officially open in November 2010 marking another Minneapolis real estate project completed. The Farmington Hills, Michigan based Village Green Companies broke ground in the Mill District for the project October 2009 on the $25 million, 175-unit apartment complex near the Guthrie Theatre.
To get the project going, the city of Minneapolis allowed Village Green to defer paying for the city-owned site until after the 24-month construction period was complete. As of early December, Mill District City Apartments had roughly 60% of the under contract. Rent for the complex's studio apartments start at $1,045 per month and tops out at $2620 for the complex's three-bedroom, two-bathroom loft. Developer Village Green manages and controls two other properties in Minneapolis, the Eitel Building City Apartments and Lake Calhoun City Apartments.

Friday, August 21, 2009

Where & What is The Carlyle?


The Carlyle Condominiums is located in downtown Minneapolis along the riverfront in the Mill District. The Art-Deco inspired building reaches 39 stories in height and is one of the more recent architectural gems of the city along with the fact that it houses some of the most prestigious, luxury condominiums in Minneapolis. The Carlyle presents unparalleled downtown and Mississippi River front views plus inclusive amenities and urban conveniences. One bedroom units in the building start in the low 300s.