News Page:
 

A look at what Obama's new insurance mandate
means for the industry.

“It’s been very difficult and expensive for real estate agents to get health insurance,” said Klara Madlin, owner of Manhattan brokerage Klara Madlin Real Estate, which has 15 sales brokers.
Madlin said she personally paid $550 a month for individual coverage last year, and her premiums were slated to rise by 17 percent. (Luckily, Madlin is now old enough to qualify for Medicare, which brings her costs down to about $200 a month. “The only good thing, other than half-price transit, about getting old,” she joked.) She said her agents have similar individual coverage plans.

Click here for article...

August 01, 2012

How will health-care ruling impact brokers?


By Jake Mooney

"If the real estate community doesn't jump to the plate to really do an MLS, and really have transparency, other people will," said Klara Madlin, president of boutique brokerage Klara Madlin Real Estate, and a past president of the Manhattan Association of Realtors, which operates the Manhattan MLS.
Click here for article...

September 01, 2010

After losing ground online,
REBNY plays catch-up


By Candace Taylor

May 1/2010
Counting commissions
By Melissa Dehncke-McGill

Klara Madlin

president, Klara Madlin Real Estate

How does your take-home pay and the take-home pay of brokers in the city compare to three months ago, six months ago and a year ago?


A year ago it was terrible, we were absolutely dead. But we started seeing a pick-up this summer. I would say we've gone up by 30 percent in commissions since the beginning of the year. I haven't researched it but that is my impression.

Even though sales activity has picked up lately, prices are still down at least 20 percent from the peak. How does that add to the pressure you and other brokers feel?

We are always under pressure to do deals. The price is not the factor as much as volume. It's more difficult doing business right now because we really have to qualify our people, make sure they are going to get financing and we are not just spinning our wheels.

Are sellers paying less or more than 6 percent in this market?

Some pay less and some pay more. Everyone wants to pay less, but I have had some [sellers offer] incentives. For example, someone who needs to move and will pay more if it is sold within X amount of time. I have seen a little bit of that.

What are commissions like at new development projects? How are they changing and how do they differ from resale commissions?

Actually they used to be less than resale commissions and now they are giving incentives that are either the same or sometimes even more. … They might give a broker higher commissions if [an apartment] is in contract by a certain date. They are under pressure from the banks to get things in contract.

Are you treating the money you make differently now than you were when the market was really strong?

I think we are all watching our bottom line a lot more in what we can afford for advertising, rent and how we can cut back. We saw a couple of companies go under.

for complete article click here...

WESTSIDE INDEPENDENT


Local Real Estate Market Heating Up, But Will it Last?
By Avi
February 5th 2010

A surge of sales has transformed the Upper West Side real estate market in recent weeks, as brokers suddenly find open houses packed, buyers willing to make realistic offers, and even, at times, bidding wars. Indeed, the local housing market appears rejuvenated through the first month or so of the new year. And yet, brokers, economists, and appraisers do not sit easy. The market has been lifted, in part, by temporary factors. In short, prices could see another messy drop in the second half of the year.

The rebound, at least in the short term, has breathed new life into the real estate market. A year ago, Klara Madlin, the president of Klara Madlin Real Estate on West 80th Street, was getting a lot of reading done. “You’d sit at an open house and read your book and nobody would come.” Not anymore. Open houses in the neighborhood have been “packed the last couple of weekends, even with the pouring rain and cold.”

1/1/2010
Cutting out the broker as middleman
By Candace Taylor

For some buyers' brokers, it's their greatest fear come to pass. More and more apartment hunters, armed with listing information gleaned from the Web, are representing themselves rather than using a real estate agent.

"I have buyers coming at me [at open houses], unrepresented, clutching fistfuls of paper," said Halstead Property senior vice president Charles Homet, who primarily works with sellers. "They pride themselves on their Internet acumen and they feel they have enough information."

This is the long-feared bogeyman of the Internet era for buyers' brokers: the idea that buyers will no longer need them because they can find listings online and deal directly with the seller's agent.

And while buyers' brokers clearly have an advantage right now in the soft market, the long term is a different story. In some ways, the changes are already afoot.

Prudential Douglas Elliman vice chairman Dolly Lenz said she is doing "a lot more direct deals," estimating that she may be working with twice as many unrepresented buyers now as in past years.

"If you're the exclusive agent, the buyers are calling you directly," she said. "It's becoming the wave of the future."

Upon closer inspection, however, the shift isn't the disaster for buyers' brokers that it may first appear. Many buyers start out unrepresented, but quickly discover they need help navigating the complexities of the market. And experts agree that the difficulty of assembling co-op board packages, in particular, assures co-broking a permanent place in New York City real estate.

Still, the shift has significant ramifications for the next generation of buyers' brokers, who will have to be faster and savvier than in the past. "We have to work harder," said Klara Madlin, founder of Klara Madlin Real Estate, which often represents buyers. "If [agents] are going to be successful, they really need to be on top of this information, and it's not easy."

That's largely because over the last several years, real estate listing data in New York has become more plentiful and accurate on the Web, making for more-educated consumers. Brokerages like the Corcoran Group, Halstead and Elliman have poured money into user-friendly Web sites, with high-resolution photos and even videos of properties for sale. Meanwhile, sites like StreetEasy, Trulia, and PropertyShark allow consumers to search nearly all of the market's listings at once.

Consumers' access to this information didn't seem to make much difference to brokers during the boom, when apartments moved so quickly that they were often sold by the time consumers found them online.

"People were afraid that if they didn't buy right then and there, someone else would outbid them," Madlin said. "They weren't doing as much research."

In the last year, however, the once-frenetic pace of sales in New York has slowed considerably, prices have fallen and a buyer's market has emerged. That has often given buyers' brokers an advantage over agents working with sellers, but it's also giving buyers the time to look for properties on their own.

Homet said many of the unrepresented buyers he sees are younger, first-time buyers. "It's mostly first-time buyers who are in their 20s and who are very Internet savvy," he said. "They have a lot of knowledge at their fingertips. … They have confidence that they can handle the negotiations themselves."

These buyers often start out by searching for listings on StreetEasy, which shows them the contact information for the listing agents. When they find a listing they like, they call or e-mail that agent directly to ask about showings.

In the past, the number of "direct deals" -- where a seller's broker gets the whole commission rather than splitting it with a buyer's broker -- has been small, in part because the Real Estate Board of New York requires exclusive listings to be shared with all members within 24 hours.

In a recent survey of REBNY members asking how many of their recent deals had been co-broked, 61 percent of respondents said all, 31 percent said some and 8 percent said none, according to Steven Spinola, president of REBNY.

The increase in direct deals may not yet be showing up in the numbers, but brokers and analysts say they are seeing a noticeable difference on the ground. "I've definitely heard that we're making it easier for buyers to go without the buyer's broker," said Derrick Gross, a business analyst at StreetEasy.

Not only do do-it-yourselfers believe they don't need help, experts say, but they often believe that they'll save money by avoiding a broker. First-time buyers in particular often don't realize that they don't have to pay for the services of a buyer's broker: The seller pays for both.

Others think they can cut a better deal on the commission by bringing the listing broker a direct deal. In reality, the seller usually signs an exclusive listing agreement specifying the amount of the commission, which stays the same regardless of how many brokers split it.

Direct deals are often welcomed by the listing broker, but their increasing prevalence has buyers' brokers worried. In the past, simply having access to listings was enough to win over clients, but that's no longer the case now that buyers have plenty of time to troll listings themselves.

Agents must scramble to earn customers' loyalty in other ways, by accumulating in-depth building information or honing their negotiation skills. Madlin said she helps her agents gain information that consumers can't find online, scheduling meetings with mortgage brokers to find out which banks are lending in which buildings, and what financial requirements they're looking for.

All is not lost for buyers' brokers, however. New virtual office Web sites, or VOWs, may help by letting clients search all of the industry's listings without leaving the firm's site. The change could assist brokers in retaining buyers -- at least those who agree to VOWs' mandatory sign-in requirements.

Moreover, New York City's high number of co-ops could help because preparing a board package or acing a board interview is easier with the help of an experienced broker.

"Brokers are necessary here because of co-ops," Gross said.

Even in non-co-op transactions, many shoppers find that buying a home without representation is harder than they think. Especially in New York, "there are lots of moving parts when buying a property," said Gea Elika, the founder of Elika Real Estate, which primarily represents buyers. "[Buyers] start to get confused."

Elika recently started representing a woman who had been searching on her own for a year. "I think she really wanted somebody who was going to work for her in simplifying the process," he said.

Some buyers realize that since sellers nearly always have agents, it makes sense to have someone representing them as well.

At a recent open house, Madlin met a potential buyer who had come without an agent. When Madlin offered to represent him, he said he didn't like brokers, adding: "What do I need you for? I have StreetEasy."

He called her later that night, having changed his mind, and Madlin's firm helped him buy a home. "He went on StreetEasy and realized, ‘I'm going to be dealing with a broker either way," Madlin said.

While VOWs are a step in the right direction, they still don’t offer as much information as a traditional MLS, said Klara Madlin, the founder of Klara Madlin Real Estate.

“There are some problems with establishing a VOW,” said Madlin, who is president of MLS Manhattan, a group that is working to establish a comprehensive MLS for the city. “Many customers resist the requirement to register with the VOW. Also, the buyer is still not privy to all the information that the brokers see.”

12/21/09

VOW, or "Virtual Office Web site"

By Candace Taylor


BROKERS WEEKLY, Nov. 2009
by: John Majeski

Life's Better in Morningside Heights.

The "Academic Acropolis." New York City's "college town." Whatever you call it, Morningside heights refers to the area bordered by Morningside and Riverside Parks from 106th to 123rd streets.
Klara Madlin broker David J. Thompson lives and handles deals here. "Good transportation, good parks, and the restaurants are much better than they were, " he said.

Check out the Nov. 4th 2009 copt of Brokers Weekly for full story.

April 2009

Here's the long and short of it.

MANHATTAN ASSOCIATION OF REALTORS
swore in MLS president Klara Madlin and Association president Philip Kiracofe at a meeting last week.



Get 'em while you can
By Lisa Fresolone
Friday, February 27th 2009

Even during a recession, with rents decreasing all over the city, the neighborhoods making
up greater Harlem still have some of the best deals in Manhattan.

“It’s just an amazing market,” says Stefania Cardinali, an associate broker covering Harlem for Citi Habitats,
New York’s leading rental agency. “It’s holding strong today.”

As renters get priced out of other parts of Manhattan, they’re more aware than ever that they can
get larger spaces for better prices uptown.

“We recently had someone in a river- view apartment downtown whose rent was going up to $6,000 a month,”
says Klara Madlin, president of Harlem Homes. “The couple decided that for half the price, they could go to Harlem and still
have a river view. This way, if something happens with their jobs, they’re not going to be frantic.”

High inventory
Part of the reason for lower prices in Harlem is this vast availability of property.

“There was so much building going on in Harlem over the past couple of years,” remarks Madlin. “It’s like musical chairs.
Everybody was moving, moving, moving, and then it stopped.

Klara Madlin on the Brian Lehrer radio show

You Rent It, You Own It
Wednesday, December 10, 2008

Klara Madlin, president of Klara Madlin Real Estate, talks about rent-to-own real estate deals, and renter Jill Vegas on her experience of entering into one of these deals in Williamsburg, Brooklyn.

Hear the interview here...

 

By Vivian Marino
Published: Dec, 5, 2008

Rent Now, Buy Later

Klara Madlin, the owner of Klara Madlin Real Estate in Manhattan, offered similar observations, and recalled handling a few lease-purchase deals in those dicey decades.

How many of these lessees ultimately bought their apartments back then? “I would say maybe 5 percent — not a lot,” Ms. Madlin said, noting that hard numbers are difficult to come by. Conversion rates were low, she said, “because the people generally who were renting to buy couldn’t really afford to buy.”

“I think it might be different this time around,” she said

Read the complete article...

 

By Lisa Keys
Published: July 27, 2008

Reluctant Renovators

“Nowadays, people are watching all those shows before they put their apartment on the market,” said Klara Madlin, president of Klara Madlin Real Estate in Manhattan. “You can’t really find those good fixer-uppers anymore.”

Read the complete article...


Klara Madlin
president, Klara Madlin Real Estate

A decade later, the ability to sell securitized mortgages in the secondary market lessened the need for such stringent checks and balances.

"In the fast-paced market we were in a year ago, things were going up so fast that the appraisers were really in a bind," said Klara Madlin, owner of Klara Madlin Real Estate and president of the Manhattan Association of Realtors.

Appraisers said that if they came to mortgage brokers with appraisals that did not suit their needs, they would lose future business with those brokers.


click here for complete article...

July 2008

Restoring credibility to appraisers

Critics say new Cuomo reforms not far-reaching enough

By Beth Braverman

 

By Alina Tugend
Published: June 1, 2008

What you need to know to get a mortgage

GETTING a mortgage used to be as easy as choosing the right color paint for a new home. Don’t have stellar credit? No problem. No verified income? Step right over here. High debt-to-income ratio? Sign on the dotted line anyway.
“Two years ago, we had a meeting where a mortgage broker said, ‘If you have pulse, I can get you a mortgage.’ ” said Klara Madlin, the president of the Manhattan Association of Realtors and owner of Klara Madlin Real Estate. “And I thought, ‘We’re in trouble.’ ”

Read the complete article...

VIDEO: Homebuying Is The New Black


Buying a home requires strategy. Just ask Klara Madlin, president of the Manhattan Association of Realtors,
who over the last 50 years has witnessed the rock and roll of the real estate market.
When looking to buy, “the first thing you should do is go to a mortgage and get pre-qualified,” she says.
"Find out if your credit is good and figure out what neighborhood you want to be in and start looking!"Sounds easy, right?
Watch the video to find out what else it takes, other than independent wealth, to land a home of your own.

click here to view full video...



New York City's Top Real
Estate Brokerage Firms

Published: April 2008

Klara Madlin Real Estate Inc.
has been named one of New York City's top real Estate Brokerage Firms
.


Protecting Deeds From Fraud

Proposed legislation would notify property owners when records are accessed
March 2008
By Adam Pincus
Klara Madlin, president of the Manhattan Association of Realtors,
said transparency in real estate was one reason foreigners invested in the United States.
But she said it was not essential to have the actual images of deeds online, as long as its information is posted.


February 2008

Finding bright side of a downturn
If recession takes hold, impact on market may take time
By Lauren Elkies

Klara Madlin
president, Klara Madlin Real Estate
In the last five years, people have grown to expect sales with bidding wars and double-digit appreciation. This year will return to more normal housing conditions, single-digit appreciation and a six-month turnaround on sales.

click here for complete article...

 

click on Klara for webcast

February 04, 2008

Real Deal
Webcast

Featuring
Klara Madlin


Klara Madlin
president, Klara Madlin Real Estate

Where is the market now, and where is it headed?

Currently if a property is pricedécorrectly it sells quickly – sometimes for more then asking. Yes, Virginia we are still seeing bidding wars. If it is not [pricedécorrectly] it will sit on the market until it is.

What are you most excited about?

In the coming year, sellers will no longer be expecting unrealistic prices. If a seller wants to sell then they will be realistic.

What parts of real estate do you expect to fare worst?

The most underrated real estate right now is the Upper East Side. East of Third is definitely not trendy. It’s more space for the money. And, if the Second Avenue subway actually gets built, it’s a really great investment.

click here for complete article...

January 2008

Predictions:
A sober look at year ahead

Expect more shock waves from the mortgage crisis

By Melissa Dehncke-McGill


Klara Madlin
, president of Klara Madlin Real Estate and the incoming 2008 president of the Manhattan Association of Realtors, said she had a client who made an offer on a property worth more than $1 million when they could get mortgage rates in the mid-6 percent range. But when they went back with a counter bid, the rate had gone above 7 percent. "They left it on the table," said Madlin.

But Madlin says the tightened credit market does not seem to be affecting sales prices in Manhattan, a view echoed by many real estate brokers who said prices are stronger than ever, with bidding wars still a frequent occurrence.


click here for complete article...

October 9

Ground shifts for borrowers

By Jen Benepe

"There was a time when both sides of town were very different from one another, and people said they wouldn't live in one place or they wouldn't live in the other,"
said Klara Madlin, president of Klara Madlin Real Estate, which is located on the Upper West Side but handles
sales in both neighborhoods. "But I don't think they're
that different from one another anymore."

click here for full story...

July 2007

UES vs. UWS: Uptown rivals bury the hatchet

High residential prices blur the differences between Upper East and West sides

By Alison Gregor


"These are pre-World War 1 apartments," says broker Klara Madlin of Klara Madlin Real estate. This means bigger spaces, some interesting layouts and gorgeous buildings.
"We joke that East Side apartments have more closet space, but in Morningside Heights we have more wall space for our bookcases," says broker Madlin, who lives and specializes in the neighborhood. "We're like a university town in the middle of New York City."

Klara Madlin is quoted in todays Daily News discussing Morningside Heights.

MORNINSIDE HEIGHTS
by Jason Sheftell
Friday, June 29, 2007

 
 

 

By JOSH BARBANEL
Published: April 1, 2007

Listing Service Dream in Disarray
AT the dawn of the Internet age, the real estate brokers in Manhattan got together and said: Let us work together to provide a single place on the Web where buyers can see all the apartments we have to sell. We will help our sellers sell faster, and earn our commissions faster, they said.

Read the complete article...

January 2007

REBNY tweaks portal plan
Small firms to pay less, large firms slightly more for new public listings.
By Jen Benepe

click here for full story...


August 2006
Harlem adjusts to post-boom housing market
Harlem deals no longer as plentiful; townhouse bargains disappearing

By Melissa Dehncke-McGill

Klara Madlin
president, Klara Madlin Real Estate

Q. Which part of Harlem is faring best as the overall market slows in the city?

A. Central Harlem from Morningside to Mount Morris, from 110th to 125th streets.

Q. Which part of Harlem is faring worst?

A. Some sections that border Washington Heights north of 155th Street and east of Broadway. The infrastructure hasn't gotten there yet.

Q. What is the most underrated neighborhood in Harlem as far as there being an upside in prices?

A. East Harlem, north of 125th Street and east of Fifth Avenue, what used to be called Spanish Harlem.

Q. What is the most overrated neighborhood in Harlem?

A. Around 125th Street, the central Harlem corridor; it came up the first and fastest.

Q. Which is the strongest property type in Harlem right now -- condos, co-ops or townhouses?

A. It's hard to say. A lot of the townhouses that used to fly out, the sellers have overpriced them and there is not a lot of inventory. The buyers are leery because they need work. There's no longer a deal. Co-ops sell if priced right -- a lot have come on to the market recently and at really high prices. [Condo] developers have not lowered their prices.

Q. Is there too much new condo inventory coming to market in Harlem?

A. There's too much condo inventory throughout New York. I saw this happen before in the late '80s to '90s. Some became rental buildings. At the moment, it seems that the demand is still there. It's still cheaper to get a condo in Harlem.

Q. What is the most exciting new condo project (that you are not involved with)?

A. The Dwyer condos: they are warehouse lofts at 123rd and St. Nicholas that are more like a Downtown loft building. Most others are brownstones that are floor-throughs or brand-new buildings that look alike.

Q. What group of buyers is the most active right now in the overall Harlem market?

A. Young couples in their 30s and 40s and professionals that think Harlem is an exciting place to live because it is still on the island and they are priced out of Downtown. Mainly, it's Manhattan, although we are getting people from Europe who live in Manhattan, too. They think it's kind of cool and aren't as afraid of Harlem. They don't have the same impression as other Manhattanites.

Q. What group of sellers is the most active right now in the overall Harlem market?

A. The condo developers for both small and big projects. Townhouse owners were cashing out over the last two years -- this year there are a few, but most cashed out already. Some are attempting now, but they are trying to get prices that are way over the top, so I don't know how serious they are.

Q. How have the big brokerages done in relation to the mom-and-pop brokerages in Harlem?

A. [The big brokerages] have a lot of the new condo developments. But the smaller agencies have the customers that we share and the sellers of the townhouses -- people who have been in the neighborhood for a long time, so they have a little bit of distrust for the big companies.

Q. A stereotypical notion is someone moving to Harlem from farther south in Manhattan, buying and renovating a townhouse. How active is this segment right now?

A. Not as active as it has been because the prices are too high now. If you are paying over $1.4 million for a shell, you are not getting those people anymore. I think those people are going to go to the Bronx. It's hard to find a shell for $800,000, and you will have to put in at least $500,000 by the time you are done and it would take a few years. But the average apartment in Manhattan is over $1 million, so maybe it's worth it.

Q. Is there a need for some sellers to lower their prices now that the boom is over?

A. They are pricing 15 percent over what will sell. People don't even want to look to make a lowball offer. Though, still today, if you underprice, you'll get a bidding war. The customer makes the market. The customer has seen a lot; they know what things are worth.

For full article click here...

7/6/2006

City Living
Hamilton Heights

Harlem-area neighborhood sees economic renaissance

By Patrick Verel

Klara Madlin, president of Harlem Homes, said the single-family homes in the historic district, which stretches from 140th Street to 155th Street between Amsterdam and St. Nicholas avenues, have been a big draw for people looking for more room than downtown abodes can provide. For complete article click here...


     

Thurs. Nov. 10, 2005

Washington Heights

Klara Madlin quoted in todays AM city living regarding the housing market in Washington Heights.

"I see young professionals and students. They can share for a great price," said Klara Madlin, of Klara Madlin Real Estate. If you're looking to buy in the area, you'll most likely have to deal with the co-ops and their boards.
NEWYORKMAGAZINE August 15, 2005
Real Estate
The Broker Glut
How too many new agents spoil the market.
By S.Jhoanna Robledo

An overcrowded field can have other effects. “Some seasoned brokers may have too many clients,” says veteran Klara Madlin. On the other hand, “sometimes a new broker can be good because they’re anxious to please.”
click here for complete article...


 

THE REAL DEAL
july/2005

Klara Madlin's super sales lady Lindy Bondy is quoted in Steve Cutlers article in July's The Real deal.

But it's a solid bet and values on existing housing reflect the optimism. According to Lindy Bondy, a Klara Madlin agent who lives at the Armory and has sold 40 units there, "I have an exclusive on 43rd Street, a townhouse I sold to the current owner five years ago. The place has tripled. Real estate here is on a fast track, but it's a good investment because there's still room to grow."

click here for complete article...

NEW YORK MAGAZINE - August/2005

Our brokers strive to help our clients in everyway possible:

Joel Moss has recently become a certified " home stager".
She will help our sellers rearrange their homes to get them ready to sell.
There are many inexpensive little tricks of the trade that can help home owners maximize their homes' potential.

Klara Madlin has recently received her S.R.E.S designation (Seniors Real Estate Specialist).
The median age of all homeowners is now around 50. In just 5 years, 1 in 5 Americans will be 65 or over.
There are many people who have trapped "equity" and there are various ways, depending on their
circumstances that Klara Madlin can advise them.


Sunday, March 6/2005

The Undesirable Rich
Co-ops are turning away buyers with huge incomes who don't
have enough in liquid assets.
by: Teri Karush Rogers

The zeal to avoid a turndown can trigger perplexing results. Klara Madlin, president of Klara Madlin Real Estate on the Upper West Side, recently helped a banker and a doctor buy a $3 million Riverside Drive apartment. They wanted to pay cash, she said, but Ms. Madlin advised them that "the board would rather see liquidity and a mortgage." The couple wound up financing half of the price with a mortgage, with the option of paying it off after the closing. "It's kind of crazy," Ms. Madlin acknowledged.

Click here for the complete article.

       

 

NEW YORK LIVING MAGAZINE ~ Feb. 2005

From the article "Where To Live in Harlem"
"There are not enough condominiums in Harlem," says Klara Madlin,
cofounder of Harlem Homes , one of the first brokerage houses to specialize
in Harlem Exclusively.

But developers are stepping in en masse to fill the void.

Rosetree Development is renovating six brownstones, the first of which is
at 2119 Fifth Ave. and 130th St., to create at least 24 condo apartments.
Marketed by Klara Madlin, the loft-style units boast marble and stone tile bathrooms, open Silestone kitchens, Jacuzzis, washer/dryers, and central a/c. Priced from $525,000 to $660,000 for a 1400 sq. ft. garden apartment with backyard, the floor through units offer original exposed brick walls, oversize windows, Brazilian cherry satin hardwood floors, and wood burning fireplaces.


click here for more info on New York Living Magazine

October 14/2004
The Westside Spirit
Sketched by Robert Miles:
"The view from Klara Madlin Real Estate"

August, 2004
THE REAL DEAL

"The rental market and the buying market is still much lower the the market below 110th Street."
- Klara Madlin, owner of Klara Madlin Real Estate

As quoted in the recent copy of THE REAL DEAL, New York Real Estate.
Click here for the full story.


June 24, 2004
New Yorks Westside Spirit

AM New York
6/3/2004

THE REAL DEAL
New York Real Estate, March 2004
By: Eric Marx

"Columbia's northward epansion likely to send prices north as well"
Klara Madlin, owner of Klara Madlin Real Estate, said the Morningside Heights neighborhood "used to be like an undiscovered little gem that nobody knew about."
One-bedroom apartments in the neighborhood that sold for $100,000 to $250,000 in 1998 are now listed from $400,000 to $500,000.
For more on this article click here....

 
 

New York Magazine, March 2004
Real Estate 2004

The housing situation is tight. How tight?
Let's put it this way:
If you're able to go see a house at midnight, do it.
It may be gone in the morning.

Great Deals
Washington Heights
Riverside Drive at 157th Street. Three-bedroom co-op. $760,000.
The floors need sanding and the kitchen and bath need TLC, but where
else can you get 1,800 prewar square feet with river views?
Says Klara Madlin's Karen Sanford,
“There's not a lot of services yet, but they're coming.”

Great Neigborhoods
Upper West Side
125 West 96th Street. Studio co-op. $265,000.
The buyer of this 490-square-foot apartment hardly negotiated; he knew it was a deal, says Ariela Heilman of Klara Madlin. “Plus, it was built as a studio, not chopped up from a bigger space,” she says.
“I advertised it as a studio for two.”

In an article by Carl Swanson in this weeks
New York Magazine, Two of our Agents,
(Karen Sanford & Ariela Heilman)
are quoted commenting on the state of
Real Estate in Newe York City today.

for complete article click here.

HARLEM'S HOT NEW HOMES
Building boom brings modern life to brownstone streets,
Oct. 25/2003

This week, some 200 politicians and community activists gathered on 135th
Steet to celebrate the groundbreaking of Strivers Gardens, a 170-unit luxury condominium building. It was a large celebration for something that has
become routine in Harlem - new construction.

In an article by Lisa Keys in this past weekends "New York Post", regarding the
real estate boom in Harlem, Klara Madlin was quoted as saying:

"What's happening now is very similar to what happened on the Upper
West Side 20 years ago, when landlords saw an opportunity to co-op or
condo rental buildings,".


The article goes on to talk about the development of Harlem Real Estate.
For the complete article click on:
NYPost,
Harlems Hot New Homes




HARLEM SONG- A Historic Neighborhood Rises Again
In an article about Harlem real estate in this months Cooperator paper (March 2003), Klara Madlin is quoted,
"Momentum is gathering," she says, "and Harlem is being both restored and rebuilt. The market has doubled -
there just isn't enough product."



Real Estate 2003 - New York Magazine - March 10,2003

Quoted in New York Magazines March 10th, 2003 edition, Klara Madlin, commenting on the price increases in Washington Heights
& Hamilton Heights says, "You have value anywhere that you can reach by subway and don't have to cross a bridge."

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Manahattan MLS unveiled at MANAR annual meeting.

The Manhattan Association of Realtors, at their annual meeting and
member day, unveiled the newly expanded, full service Manhattan Multiple Listing service to its members & guests.Members of the Manhattan MLS
now have a cost effective vehicle for co-broking listings immediately & accurately. It provides a single source for Real Estate property information that is simple to use, and accumulates the past sales data that is intregal
to evaluating the real estate market.

Manhattan MLS


Manhattan Association of Realtors

2350 Broadway ~ NY NY ~ 10024 ~ 212-580-3180 ~ fax212-580-3959

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