adplus-dvertising
Connect with us

Real eState

Life Can Actually Be a Beach in New York City After All

Published

 on


Rooftop swimming pools with views, ice baths and hot tubs are the water-centric amenities home buyers have come to expect today in many of New York luxury buildings—but a handful now possess a perk that may be the most covetable of them all: beach access.

Yes, in the heart of the concrete jungle, it really is possible to find beachside housing thanks to a collection of new developments built on or near the water, whether it’s man-made or natural.

Take The Keller at 150 Barrow, a residential condominium slated to be completed by the end of this year in the West Village. The building, with homes starting at $2.59 million, is situated along the new Gansevoort Peninsula, a 5.5-acre riverfront park that will be home to a stretch of sandy beach where residents can bask in the sun and enjoy the water views. Playing volleyball on the sand and renting kayaks will also be options. North of the beach, the park will have a lawn and seating area as well as a large sports field and salt marsh habitat.

The 5.5-acre river park at The Keller, a West Village condominium.


Binyon Studios

 

“We knew that this park was in the works, and it was a motivation for us to build The Keller here,” said Jared Epstein, a principal at Aurora Capital, the building’s developer. “The views and access to the water and the beach has been a huge selling point and a primary marketing tool for us.”

Astoria West, a new 534-unit rental development in Queens that’s alongside the East River’s Cove Beach, is another example. Residents, who pay anywhere from $3,600 to $7,000 a month, can walk out of the building’s rear entrance directly onto the sandy beach and often spend the entirety of their day there during warmer months, according to Craig Wood, the founder of Cape Advisors, the building’s developer.

Exterior view and beach at Astoria West, a new 534-unit rental development in Queens.


Binyon Studios

“They park themselves with umbrellas, beach chairs and towels, and read. Some even take picnic lunches,” he said. “Virtually every resident appreciates the beach—it’s why they live here.”

That’s the case for Katie Seaman, a tenant at Astoria West who is a doctor at Mt. Sinai and rents a one-bedroom apartment with her husband Tom Metzger and their German Shepard, Jake.


“The view of the beach from our apartment is a big draw,” she said. “Jake loves running around on the sand, and we love sitting on the beach and drinking a bottle of wine. Living in New York, it’s cool to be able to say that we have access to a beach, and it’s not common for sure.”

This kind of outdoor access is among the most highly desirable features in a New York apartment today, according to Corcoran real estate agent Mark Martov.

“On a nice summer day, you feel like you’re in Miami. It’s this idyllic life,” he said. “Who needs a fancy cold plunge pool when you have the real thing right there in your backyard?” Man-built beaches like the one at Gansevoort Peninsula aside, Mr. Martov added that natural versions of these shorelines have long existed in New York. “Developers are finally starting to take advantage of these beaches by building their projects on or near them,” he said.

On the flip side, buyers and renters should be aware that beachside living raises a slew of questions, especially about the water itself, according to Coldwell Banker Warburg agent Gerard Splendore.

“You need to consider if the water is clean, if there are concession stands that may lead to trash,  if there are rules and how they will be enforced, plus who pays for the upkeep,” he said.

For many, however, the pros outweigh the cons, Mr. Splendore said. “It’s like you’re always on vacation and never have a need to leave where you live,” he said.

Ben Katzenstein, who works in finance and rents at One South First, located in Williamsburg next to Domino Park, knows the feeling. The frequent beachgoer said that the forthcoming River Ring development next to his building, where a 500-foot-long public sandy beach will be the showpiece, is an incentive for him to continue living where he is.

“I love the beach and am so excited that one is coming to my neighborhood,” he said. “It makes my wife and me want to establish roots here and maybe rent an apartment at River Ring.”

One South First’s developer, Two Trees, is behind the 4-acre waterfront project, slated to debut its first building and the beach in 2028. In addition to the beach, it will feature a park and two towers designed by the architect Bjarke Ingels. Pricing for River Ring hasn’t been made public, but studio apartments at One South First for around $3,300 a month.

David Lombino, a managing director at Two Trees, said that River Ring will provide renters with beach chairs and umbrellas; they will also be able to rent paddleboards and kayaks, and the sand will be lined with concession stands. “We wanted to offer New Yorkers a chance to get really up close with the water, and only a beach can do that,” he said.

While not in New York City, The Beach, an aptly named luxury rental building in Newport, New Jersey, is just a PATH ride away and does have Manhattan views. More fittingly, it features access to Newport Green, a 4-acre landscaped park with the only sandy urban beach on the Hudson River, according to the park’s website. Newport Green’s other amenities include outdoor ping-pong tables, a carousel, walking paths and several playgrounds.

Shawn Murphy, a sales manager for a technology company, lives in a one-bedroom in the building with his wife, Colleen, and said that the beach is an amenity that they fully take advantage of. “There are permanent umbrellas here, and during nicer weather, they bring out lounge chairs. Colleen and I go at least once a week during the summer and unwind with wine and a picnic meal,” he said. “The beach was the selling point when we were deciding where to rent and now that we have it, I am not sure how we could ever do without it.”

Balcony view at The Keller, a West Village waterfront condominium.

 

728x90x4

Source link

Continue Reading

Real eState

Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

Published

 on

 

TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

 on

 

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Here are some facts about British Columbia’s housing market

Published

 on

 

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending