It's a Mod, Mod World

Frank Lloyd Wright’s Fallingwater stands alone as perhaps the definitive example of a home that is a work of art. But, that’s not the only one. There are many other notable properties that can also qualify as real estate pieces of art and the best news is — they’re all for sale.
Art and Surf

"Art and Surf" - Montauk, NY
For Sale: $12,500,000

Journey out to the end of Long Island, NY to find this modern, oceanfront gem. Enjoy glass-walled open living on the main floor and head upstairs to the private master that is set perpendicular to the main floor. Ceiling-to-floor windows on the main floor can be thrown open to let the sea air in, or to slip into the lap pool and spa. Walk down the stairs to your own private beach.
The Glass Pavilion

"The Glass Pavilion" - Santa Barbara, CA
For Sale: $35,000,000

In what architect Steve Hermann calls his "greatest achievement," the "Glass Pavilion" is set within an oak grove on 3.5 acres in Santa Barbara, CA. Glass wraps around the exterior of this 14,000 sq ft home and inside are big, wide-open spaces with contemporary furnishings and design. A wine room can hold several thousand bottles and the expansive art gallery presently contains a vintage car collection that can hold up to 32 cars within its walnut-lined walls.
The Razor

"The Razor" - La Jolla, CA
For Sale: $25,000,000

As is typical of architect Wallace E. Cunningham, this masterpiece embraces its surroundings along the Southern California coast. It sits high above Torrey Pines State Reserve in La Jolla, CA, and takes in the surrounding views of the ocean, open sky, and rugged landscape. Five years in the making, this home is constructed from white-polished concrete and floor-to-ceiling glass.
Trophy on the Intracoastal

"Trophy on the Intracoastal" - Palm Beach, FL
For Sale: $29,500,000

Award-winning architect Milton Klein created this custom-contemporary on Palm Beach's Lake Worth in 1986 and it underwent a restoration in 2007. It consists of almost 20,000 square feet and has 200 feet of lake frontage. This grand-scale construction is made possible with extensive use of poured concrete, steel and only about 5% wood.
Neo-Modern Showcase

"Neo-Modern Showcase" - Greenwich, CT
For Sale: $13,000,000

A towering, two-story glass atrium is the signature showpiece in this 1992 tri-level neo-modern home on more than 7 acres. Designed by Ulrich Franzen, who worked with I.M. Pei for several years before starting his own firm, Franzen used expansive windows and skylights to integrate with the landscape and lake. The home is made of polished, beveled concrete aggregate blocks and granite and marble. And, of course, windows. Perks: Elevator, indoor pool, media, exercise and billiard rooms, outdoor pool, lighted tennis court, two-bedroom guest cottage and garage for 6-7 cars.
La Gorce Modern

"La Gorce Modern" - Miami Beach, FL
For Sale: $19,500,000

Wealth and beauty abound on Miami Beach's La Gorce Island, which is accessible only by a bridge and passage through a guard house, which makes it desirable for celebs such as Cher and Billy Joel to own homes there. This contemporary home on La Gorce offers 20,000 square feet with 12 bedrooms, 14 bathrooms, and a 5-car garage. Plus, the 270 feet of protected waterfront will come in handy for yacht parking. The pièce de résistance is a unique, sweeping white marble staircase that leads to the master bedroom.
The Glass Pavilion

"Modern Pueblo" - Aspen, CO
For Sale: $11,950,000

Designed in the style of renowned Mexican architects Luis Barragan and Ricardo Legorreta, this home is built into the McLain Flats hillside, which is about 10 miles outside of Aspen. The home's sleek lines combine with the sun's rays to create shadows that offer its own unique effect as a living sculpture of color and texture. The 9,000-sq ft home was built in 1994 and has 5 bedrooms and 5 bathrooms.
Beverly Hills Modern

"Beverly Hills Modern" - Beverly Hills, CA
For Sale: $11,895,000 (or, $50,000/month rent)

At the center of this home is a garden courtyard and the living space radiates around it, wrapped in circular walls of glass and soaring steel beams. Rooms feature custom-curved stainless steel windows and doors. Views of the infinity edge pool and city are beyond. A generous 24,000 sq ft of space includes 6 bedrooms and 6.5 baths, plus 7-car garage, gated security, and elevator. Designed by architect Ed Niles.
The Glass Pavilion

"Shelter Island Simplicity" - Shelter Island, NY
For Sale: $8,950,000

Noted for its extensive use of glass walls, the house takes full advantage of its stunning location, providing views of Peconic Bay, the North Fork and Long Island Sound, all the way to Connecticut. The house is sited on an elevated estate-sized property consisting of two parcels (3.33 acres and 2.66 acres). Also available is an 100-foot boat dock with hydraulic lift.
Poetry on the Potomac

"Poetry on the Potomac" - Bethesda, MD
For Sale: $7,100,000

Contemporary doesn't always mean steel and glass, does it? As a big departure from the double-chimneyed, traditional homes in the Washington, DC area, this warm contemporary won the AIA custom home award in 2008. Designed to enjoy the surrounding treed property, it overlooks the Potomac River. Perks: Lap pool, guest house and home office.

Flat Iron/Chelsea West 27th Street & 6th Avenue Two Bedroom - VIDEO TOUR - 1000SQFT November 1st

West 27th Street between Broadway & 6th Avenue Mini Loft Two Bedroom







Available for November 1st Occupancy


Contact JAD Realty Group for showing times @ 610.781.8417

Eleven Reasons People Can't Sell Their Homes

The environment for home sales becomes more difficult with each passing month. Some estimates put 11 million mortgages, about 20% of the U.S. total, underwater, meaning that homeowners owe their banks more than the underlying properties are worth. Home repossessions reached more than 100,000 for the first time in September. Rising foreclosure rates continue to further depress housing prices.

The federal government let its tax benefit for homeowners expire in April and has not renewed it since them. The program did boost sales earlier this year. Shoppers must now face a market without the credit in which many home prices continue to fall.



The clamor over flawed foreclosure paperwork and robo-signers could further chill the housing market. People who might buy have bought a home in foreclosure will now worry about obtaining proper documentation and effective transfer of title.

24/7 Wall St. spoke with experts at real estate research firms Zillow.com and RealtyTrac to find the best way to sell a home. We also interviewed management from the National Association of Realtors, a number of real estate brokers, bank managers and elected officials in affluent communities. What emerged from these conversations and our research is the following: successful home sellers often do the same small number of things correctly. Often, these tactics are the difference between finding a buyer and not.

1. Pick the Best Broker

Many people who decide to sell contact a real estate brokerage with a sterling reputation or go to one that has the largest number of listings. Frequently, when potential sellers call these firms, they are turned over to the first available broker in the office. That person is often not the best representative. As a matter of fact, what is a successful broker doing in the office anyway? There are a small number of brokers in most markets who have a better track record than their peers. Most of them have been brokers for a long time and did not lose their jobs when the housing bubble collapsed.

2. Get an Appraisal

Sellers should obtain an appraisal for their home before they put it on the market. One of the major reasons house sales fall apart is that the bank assesses the home for less than the buyer has agreed to pay. For example, a buyer and seller agree on a price of say $250,000. Then the buyer goes to his bank to get a mortgage. But, the bank appraises the house for $200,000. Now, the buyer has to put up more money. Sellers who get their own appraisals get a realistic idea of what price a bank would value a house at before they enter into a sale. Most appraisers already do some work for banks. An appraisal often tells a seller what a "safe" price is. And an appraisal's average cost is only about $200.

3. Get the Right "Comp"

Sellers must make sure that foreclosures in their area are included in the "comps" the Realtor gives them. Traditionally, a broker will give a seller a list of similar properties in the market and that information is part of what is used to set a price. What brokers do not always do is put the price of any foreclosed properties that are comparable into the calculation. A typical foreclosed home sells for 25% to 30% less than similar inventory in the same area. If sellers don't take that into consideration, their home will not be priced competitively and they put themselves at a disadvantage. Sellers wind up slashing prices after their overvalued properties are on the market for several months without success.

4. Tax Assessment

Low property taxes are critical to finding buyers. Property taxes in most cities, towns and counties have gone up for years as home values appreciated. This revenue is used to run schools and other local services. However, now home values have dropped sharply, and the appraisals by local authorities on which taxes are based are too high. Many cities have a process for homeowners to request lower appraisals, and as a consequence obtain a reduced property tax. Some states even have a board of appeals for homeowners who do not think they were treated fairly. One way for people to get local authorities to cut the tax assessment of their home is to put it on the market at below the appraised price. If the home does not sell for several months, they can present empirical evidence of the lower value. A home assessed for $300,000 that goes on the market for $275,000, but does not sell for a year, is probably not worth $300,000.

5. Conserve Utilities

Turn the lights off! Most buyers ask for utility bills. "Energy wasters" who sell a home will rue the times they forgot to turn off lights, turn down the air conditioner or left the TV on all day. It would be ill-advised to fake the amount of energy being used by simply living in the dark and cutting utility costs to nearly zero. However, careful and prudent use of energy can cut bills by enough so that a buyer does not have sticker shock about what it costs to maintain electricity, gas or oil to run a house.

6. Sell "Green"

Not very many homes are actually built with environmentally friendly material or heated by solar panels or wind. But those that are have a special appeal to the crowd that buys green cars such as the Prius. A seller may have one of only a few "green" homes in their town or city. That may make it highly desirable to many shoppers.

7. Curb Appeal

This item appears on most lists, and many sellers don't bother to take the advice to prune the hedges or clean the gutters. But it is even more complex than that. Walk to the road on which your home is located. Now walk toward the house. What does a buyer see for the first time? Most sellers never bother to look at their homes through a buyer's eyes. Do the shingles need a paint job? Are the shutters looking shoddy? "Love at first sight" is no less rare with homes than with people.

8. Everything Is Negotiable

Negotiate the fee with the broker. The fee paid to a Realtor for selling a home is traditionally 6%. Sellers often believe that they can get that down to 5% or even 4%. But, in a market where brokers are desperate for business, pressing for 3% or even 2% may work. Whatever the savings are, they can materially affect how much a seller can drop the price of his home and still walk away with a profit.

9. Get an Inspection

Sellers should do some of the inspection work and testing before their home goes on the market. Inspectors for buyers are often aggressive when they report what is "wrong" with a home to their clients. For as little as $250, an inspector will go through your house and tell you what the inspector is likely to flag such as a roof leak or old, energy-wasting windows. That gives the seller a chance to fix the problem for less than the buyer may want to lower the price by, or at least know the items that a buyer will use to negotiate down the price.

10. Hire a "Stager"

For as little at $200, you can hire someone who can make your home look better by moving pictures, furniture, lights and addressing problems that may make the home show poorly. These people are cousins to the men and women who "fix" expensive homes before magazines come in to photograph them for stories. "Stagers" have lists of tricks that few Realtors and almost no homeowners know. The "better" your home looks, the more appealing it will be to potential buyers.

11. Fix It First

Sell a house that does not need any work. In a market in which people count every penny and worry about job security, fewer buyers want homes that are "fixer uppers" that require work that could cost thousands or even tens of thousands of dollars to address. These days, a buyer choosing between two homes will most likely take the one that needs the least work. It may cost some money to get your home to the point where a buyer can walk in and do almost no work. However, it may be the difference between selling a home and having it languish on the market.

East Village Two Bedroom Share - VIDEO TOUR - Available for November 1st

East 12th Street & Avenue A Two Bedroom Share. The apartment features an open layout with southern exposure views. The kitchen and bathroom are going to be completely gut renovated! Enjoy…

Manhattan Rental Market Heating Up...

Manhattan rental units in the third quarter moved faster and were less negotiable than last year at the same time, while studios and one-bedrooms outperformed larger apartments, according to quarterly market reports released today.

The listing discount -- the difference between the asking rent and the rent the tenant pays -- shrank to 1.7 percent in the third quarter, the lowest level since 2006, according to a market report from Prudential Douglas Elliman. Meanwhile, the average number of days a listing sat on the market was 38, down from 77 in the third quarter of 2009, the report says.

That means landlords were less willing to lower their rents, while apartments were rented faster, explained real estate appraiser Jonathan Miller, the president of Miller Samuel and the preparer of the Elliman report.

"You saw the lowest listing discount in four years, and you saw properties moving a lot faster than last year," Miller said, attributing the changes to an improvement in consumer confidence. While both renters and landlords "are still not comfortable with the economic climate, they certainly feel better about it than a year and a half ago," he said.

Meanwhile, it became far less common for landlords to offer concessions, like a month's free rent or payment of a broker's fee. A quarterly report released by real estate brokerage Citi Habitats stated that only 23 percent of the company's rental transactions in the third quarter included a concession, compared to 52 percent in the same period of last year.

"There was very little use of concessions," Miller said. "They're still there, but they weren't as predominant as they were last year."

Gary Malin, the president of Citi Habitats, noted that concessions may start to creep back into the market as it enters the traditionally slow winter season, along with increases in vacancy.

"These months that we're heading into, we historically see the vacancy rate creep up a little," he said. "Pricing becomes more flexible."

According to Citi Habitats' report, the vacancy rate in the third quarter was 0.99 percent, down from 1.71 percent during the same period in 2009.

The reports also show a surge in new rental activity from last year. Elliman's report, which includes all firm's deals, tracked 8,593 new rentals in the third quarter, up from only 2,549 in the same period of last year. Citi Habitats said it did over 4,250 transactions in the third quarter, about 15 percent more than in the prior-year quarter.

But since hiring is still stagnant, experts said this likely wasn't the result of an overall increase in rental activity. Rather, a bevy of tenants decided to leave their current apartments rather than renew their leases, many in search of cheaper rents now that their landlords stopped giving rent breaks and other concessions that became common during the recession.

"People in existing rentals that did not get concessions said, 'I'm going to find something new,'" said Stephen Kotler, director of residential leasing for Prudential Douglas Elliman.

Rents, meanwhile, were generally stable, inching up in some categories and falling slightly in others. Elliman's report found that the average rent for a Manhattan apartment in the third quarter was $3,460, down 8 percent from $3,759 in the same quarter of 2009. The median rental price, however, was $3,000, up 1.7 percent from the prior-year quarter. The average rent per square was $47.22, down 1.3 percent from last year.

Both reports show rent increases for studios and one-bedrooms. According to Citi Habitats, the average rent for a studio jumped 3.9 percent to $1,828 from $1,760 in the prior year quarter, while one-bedrooms increased 3.2 percent to $2,501. Elliman's report found that the median rent for a studio grew 9.8 percent to $2,195, while the average rent for a one-bedroom grew 1.9 percent to $2,950.

Larger apartments did not fare as well. Elliman's report found that the median rent for two-, three- and four-bedroom apartments fell from the same quarter of last year, while Citi Habitats found that rents for larger apartments increased, but not as much as studios and one-bedrooms.

Kotler noted that one reason for the strength in smaller apartments is an increase in relocations to New York City from abroad. He said Elliman, which works with large firms to relocate their employees, is seeing about 25 percent more transfers of international workers to New York City. That's common during a down market, he said, because large companies tend to reshuffle their employees rather than hire new people. "Companies will move people around instead of hiring new people," he said, noting that it's a way for firms to "redeploy the resources they have."

These workers from abroad often rent, rather than buy, since they are often on temporary assignments, he said. They are also more likely to be single people or young married couples rather than families with children, he said, so they are apt to rent studios or one-bedrooms.

Miller also noted that there has been a surge in purchases of larger apartments, causing corresponding weakness in the rental market. "If you have an increase in rental activity you might have a decrease in the same segment on the sales side, and vice versa," he said.