New to Market! Corner one bedroom co-op apartment with spacious rooms, a windowed dining alcove, and hardwood floors. Facing the building's garden, this apartment is quiet, bright (6 windows!), and has pleasant views. The windowed bath has been recently renovated, but one of the best features of this apartment is the incredible closet space - there are five closets! Create a large open chef's kitchen with a window and breakfast bar, or keep the galley kitchen and windowed dining area "as is." The building has a part time doorman, laundry, bike and storage rooms. 221 East 78th street is on a lovely block, only 2 blocks from the subway and near great restaurants, shopping and museums. Sorry, no dogs.

Magnificent terraced apartment in the Blue Condominium on the Lower East Side. This 972 square foot one bedroom unit has direct access to one of two huge common terraces. In mint condition, the apartment has an open kitchen with Viking appliances and high end cabinetry, in addition to a luxurious bath, floor to ceiling windows, bamboo floors, Elfa customized storage, in-the-wall surround sound system and a Bosch washer/dryer. This spacious unit can easily be converted to two bedrooms. The Blue Condominium is a green building and was designed by Bernard Tschumi. Amenities include a full time doorman, cold storage, and over 8,000 square feet of outdoor space. The building is 1/4 block to the subway and very pet friendly.

Sunny and charming pre-war one bedroom with 9' ceilings and exposed brick in Gramercy Park. The flexible floor plan allows multiple layouts including two bedrooms if needed. The current layout has a separate dining area, updated kitchen and bath, dishwasher, generous closet space and hardwood floors throughout. Facing south and north with large windows overlooking a tree-lined block. The elevator coop has a live-in super, bike storage and laundry. Sublets, pied-a-terres, co-purchasers, gifting and guarantors are all allowed. Sorry no dogs. Tax deductibility of maintenance is approximately 75%.

Beautiful five room pre-war coop on The Upper West Side, just steps from Central Park. The gracious layout affords an entry foyer, formal dining room, two bedrooms, 2 baths and two private entrances. The apartment has stunning pre-war details, 9-foot ceilings, crown moldings, hardwood floors, excellent closet space including a walk-in, and a washer/dryer. The windowed kitchen has been classically designed for the modern cook with top of the line appliances and generous counter space. Building amenities include a common courtyard, live-in super, and both private and bike storage. Sublets, pets and pied-a-terres are allowed with restrictions.

Extraordinary Value, Extraordinary Opportunity! Rarely available, this West Village, two bedroom + den, two-bath pre-war Loft has two sunlit, quiet exposures and a wood burning fireplace. The grand open living room has a formal dining area and an open kitchen. Additionally there is ample storage, ten foot ceilings, plenty of charm. The apartment has its own laundry and the building's amenities include a bike room, live-in Super, and a wonderful roof deck with views of the Hudson River. Pets are welcome

BACK ON THE MARKET WITH PRICE REDUCTION AND NEWLY RENOVATED BATH! Spacious Lower East Side gem featuring two bedrooms, one bath and large entry foyer in a landmarked pre-war coop. Stunning views of the Williamsburg Bridge, abundant direct sun with west and north exposures. Generous room sizes, hardwood floors, large eat-in windowed kitchen, beautifully renovated windowed bath and high ceilings throughout. The coop is a private enclave of award winning land marked art deco buildings surrounding a beautiful garden with a fountain. The Lower East Side offers an abundance of shopping and dinning and the location is walking distance to the B, D, F, J, M & Z trains and the M14 bus stop is in front of the building. Sublets permitted with restrictions. Sorry no dogs or pied-a-terres allowed.

Oversized, Stunning Terrace with Central Park Views! This spacious Junior 4 offers X-large rooms, beautiful herringbone floors, and generous closet space. There is plenty of counter and cabinet space in the well designed kitchen, and from its perch on the 22nd floor, the apartment receives abundant natural light. Additional features of this unfurnished rental include high ceilings, two full marble baths, and in-unit washer/dryer. Ideal for entertaining, the terrace is a show stopper with its Art Deco accents and gorgeous views. Trump Parc has Central Park as its front yard and is steps away from the upscale dining/shopping on Park and Fifth Avenues, MoMa, Columbus Circle and Rockefeller Center. This is full-service, white-glove luxury living in the heart of Manhattan. Sorry, no pets.

Unique, High Floor Duplex on Lovely East End Avenue. This mint condition duplex features two balconies and a dramatic double height window spanning both floors. Northern and eastern exposures through seven windows bathe the apartment in light and offer city and river views. The windowed kitchen and 1.5 baths have been beautifully renovated. Located just steps from the East River Promenade and Carl Schurtz Park, 52 East End Avenue is an intimate and elegant doorman building with gym and newly renovated lobby.

1852 Brownstone floor-through on a prime tree-lined block in Greenwich Village just off Fifth Avenue. This charming one bedroom, two bath (one renovated) coop boasts 11 foot ceilings, exposed brick, two fireplaces (one wood burning), hardwood floors, great storage space including a very large customized walk-in, nice built-ins, Murphy bed, washer/dryer, Miele dishwasher, and Friedrich Combo air conditioning system. The gracious 19' x 16' living room affords multiple layouts. North and south exposures; pets allowed.

Beautifully renovated three bedroom pre-war co-op just steps from Riverside Park on a charming block of the Upper West Side. Approximately 1450 square feet, this top floor unit boasts great light south, east and north. The heart of the home is a stunning kitchen which is open to both the dining and living rooms. The kitchen has stainless steel Viking and LG appliances, granite countertops, and a large peninsula which adds abundant counter and storage space. The spacious living room has a built-in wine bar and cooler and the dining room easily sits eight. Apartment amenities include 1.5 renovated baths, washer/dryer, hardwood floors, high ceilings with recessed lighting, crown molding, exposed brick, nice built-ins, surround-sound and very good closet space. Pets and co-purchasers are welcome.

After strong demand over the past two quarters, market wide transaction activity pulled back during Fourth Quarter 2011 to approximately 2,600 sales, the lowest level of activity since Second Quarter 2009. The number of quarterly sales was 12% lower than Fourth Quarter 2010 and 20% lower than Third Quarter 2011.

The condo and co-op market statistics were divergent this quarter, and fundamentals should be viewed separately. Condo inventory decreased 11% from a year ago due to limited new development openings but in contrast, co-op availability remained even.

Limited availability in the condo market has led to a surge in pricing. Condo median price and average price per square foot in Fourth Quarter 2011 were at their highest levels since the downturn. Co-op median price declined this quarter while average price per square foot held relatively firm from one year ago and declined only marginally from Third Quarter 2011. In the new development sector, supply cannot keep pace with demand and several markets are already under-supplied; when properties enter the market they are highly anticipated and get absorbed rapidly, usually with price increases.

Click the image or this link to download the full report

Marketwide Summary

There was a seasonal rise in market-wide inventory but a decline in sales this September. Listed market-wide inventory increased 10% from August. Despite the seasonal 70% increase in new listings from last month, market-wide inventory was still 7% lower than last September. Contract activity for both condos and co-ops decreased in September compared to last month and last year. Condo and co-op average discount from last ask to sale was smaller than last year at 5%. The average number of days on market was just over 6 months for both condos and co-ops.

To view the entire report please click this link.

The number of contracts signed increased compared to last August for both condominiums and co-ops. Whereas sales typically slow down in August, co-op sales increased from both last year and last month by 13% and 4%, respectively. Sales in larger condominiums increased this month leading to positive trends in condominium pricing from August 2010. Both market-wide listed inventory and the number of new listings coming to market declined from last month and last year. Click here for the full report.

The other day, walking through Grand Central, I bumped into a friend, here on vacation with his fiancee.

I got to thinking about why New York City attracts so many tourists, more than just about any city in the world. Not because of natural wonders or even outdoor sports activities. It might be because:

• It’s different here (as in not the same)
• You can find someone to have an argument with, about just about anything
• There are fringes--cultural, educational, architectural, societal
• More than 42 languages are spoken at the Queens public library
• You can get something that’s not the regular kind
• There are profit-seekers who will happily sell you something, anything
• There are many who do things for no profit at all and will eagerly entertain, entrance and change you for the better
• You will find a diversity of religious belief like no other
• It’s changing
• The food hasn't been entirely homogenized
• People are active
• A stranger will go out of his way for you, perhaps, and more often than you expect
• There is more information per minute, per meter and per interaction
• Neighborhoods are more important than homogeneity, and co-existing is most important

The thing is, here can be anywhere. There are New Yorks going on in towns large and small, in companies big and tiny and in families that support and respect at the same time they embrace and encourage difference.

I remember ten years ago like it was yesterday, looking out the window of my office and wondering if it (all of it) was over. I remember those that suffered and were lost, and those brave enough to risk everything. Not sure we'll ever forget, or if we should.

But now more than ever, I believe we have an obligation to stand up, stand out and to do work that matters. Wherever you are, there's an opportunity to be different, with respect.

Manhattan continued to enjoy significant sales activity in the Second Quarter of the year as market-wide sales increased 15% over the First Quarter.  Renewed levels of competition led prices higher as buyers took advantage of lower pricing in the resale market.  Manhattan’s median price in the Second Quarter reached $790,000, up 9%, and the average price per square foot was $1024, an increase of 4% from a year ago.

In many ways, the Second Quarter was the most relentlessly average period of sales activity in several years: it displayed typically active sales for the spring season, with prices driven modestly upward by competition, but without breaking any records. Click here to view the entire report.

New development condominium sales are up year-over-year in both Manhattan and Brooklyn for the second quarter of 2011, according to a second-quarter new development report released today by residential real estate firm MNS. 

In Manhattan, condo sales prices were up 18 percent on an average compared to the second quarter of 2010, according to the report. 

• #3 - 10014 The West Village
• #9 - 10065 East 60’s
• #16 - 10075 East 70’s
• #18 - 10013 TriBeCa
• #24 - 10012 SoHo

Patric Lilly Group's Featured Manhattan Property Listings can be found by clicking here.