Archive for October, 2007

New Condo Development: The Cielo – 450 East 83rd Street, New York 10028

Cielo Building

Location: 450 E. 83rd St. (between First Avenue and York Avenue)
Size: 128 units, 28 floors
Prices: From $.7 million to $7+ million
Occupancy: 2006
Developer: JD Carlisle
Architect: Perkins Eastman
Interior Designer: Philip Koether
Sales & Marketing: The Marketing Directors, Inc.


Overview: Natural Wood, Stone, and Lots of Light

This beautiful new condo building is a standout and welcome addition to York Avenue. Unlike most new condo buildings, the Cielo isn’t all glass. The combination of stone and dramatic oversized windows gives the building a sense of true substance while maximizing interior natural light.

Cielo interior

Indoors, the impression of substance still holds. I was wowed by the soaring ceilings, solid beech hardwood floors, massive solid wood doors, European-style kitchens with larchwood cabinets and Wolf, Sub-Zero and Miele appliances, and the limestone bathrooms with soaking tubs and glass-enclosed showers. Even the powder rooms have volcanic stone flooring and frosted glass tiled walls.

Cielo kitchen

The building includes all of the amenities that have become “table stakes” for high-end developments: 24-hour doorman and concierge, a state-of-the-art fitness center, a children’s playroom, bicycle and stroller rooms, and on-site parking.

This is a condo building that my husband and I seriously considered, but I couldn’t tear him away from Park Avenue. Personally, I much prefer new development and would give up Park Avenue in a snap!
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The Manhattan Rental Market

Of the approximately 5000 rental properties available, 40% are available directly from Landlords and Owners, the other 60% are available through brokers only.

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Landlord Requirements

REQUIRED DOCUMENTATION
You can improve your chances of getting the apartment you want by having on hand the following Documentation required by nearly all Landlords.

1. Letter of Employment.
2. Pay Stub.
3. Photo Identification: A valid Driver’s License, Passport, or Student ID.
4. Co-Applicants: also must provide the above documentation.
5. Guarantors: If you do not meet the minimum income requirements (varies from 40 – 50X monthly rent) as required by a particular landlord or have a credit problem, a Guarantor may be required. The Guarantor, or co-signor, is usually a family member who agrees to guarantee the terms and conditions of the lease in case you default. Your Guarantor must earn between 75 and 100 times the monthly rent and have a solid credit history. Many landlords require that the Guarantor live in the tri-state area – New York, New Jersey, or Connecticut. Your Guarantor must provide:
a. A copy of the first two pages of their most recent Federal tax return
b. A completed application form as a Guarantor
c. If Guarantor is self-employed, he must provide a letter from an attorney or accountant verifying his annual income.

THE APPLICATION PROCESS
This will be required for the Application Process
1. Application Form: Includes past employment information, previous addresses and landlord information, credit references and financial assets, including savings and checking account numbers.

2. Credit Check: A credit check will be run for each Applicant and Guarantor, and Guarantor, if applicable.

3. Deposit Money: At the time of submitting your Application, you will need one month’s rent and one month’s security in the form of a bank certified check, traveler’s checks, money order, wire transfer. Landlords will not accept personal checks for the initial rent and security deposit.

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