Platinum Condo 247 West 46th Street March 2015

What's My Platinum Condominium at 247 West 46th St Worth?

Market Report for March 2015

∙ Condo Units Currently Active on the Market: 8

∙ Condo Units Closed in last 60 Days: 2

∙ Condo Units “In-Contract”: 4

∙ Average Price per Square Foot for Sales in the Last 12 months: just under $1600 per square foot

∙ Average Sales Price to List Price Ratio: 97.3%

∙ Average Days on Market until a Contract is Executed: 115 Days

On the surface it appears that the Platinum Condominium is an extreme seller's market but let's look at the numbers more closely to interpret what they tell us about what your apartment will sell for.

1. Average Sales Price to List Price Ratio: This number reflects what percentage of the sales price of an apartment actually sold. At 97.3%, the number is relatively low in comparison to condominium sales as a whole throughout Manhattan. Condo sales as a whole in Manhattan, the overall sales price to list price ratio has been hovering around 96%, indicating that the Platinum is performing very well.

2. Average Days on the Market: The Average Days on Market indicates the amount of time from when a property entered the market to when a buyer and seller both signed contracts. The Average days on the market has been approximately 115 days, outperforming the condominium market which has been averaging approximately 145 days.

How Can you Use this Information to Achieve a Better Price for your Apartment:

Low Inventory combined with strong buyer demand has pushed PRICES UP. With rising prices, most sellers have the equity needed in order to sell to move up to something bigger or shift the equity in the apartment into something else. Combined with the Spring market and the increase buyer demand that we will see, now is a perfect opportunity to see what your apartment is worth.

FIND OUT HOW MUCH YOUR CONDO CAN SELL TODAY

We will provide the most accurate and fair market price to your condo unit based on most updated data, call us now.












247 West 46th Street Midtown West Condo

So far in 2012, there have been approximately 12 (Twelve) condos that have sold at 247 West 46th Street The Platinum.

The price range has been from $1,000,000-$2,000,000, including mainly 1 bedroom sales and a couple of two bedroom sales.

Currently for sale at the Platinum Condominium at 247 West 46th St we
see a variety of Studio, One (1) Bedroom, Two (2) bedroom, and Three
(3) Bedroom Condominium apartments for sale.

• Studio’s for sale at 247 West 46th St average $750,000
• One Bedroom’s for sale at 247 West 46th St average $1,200,000
• Two Bedroom’s for sale at 247 West 46th St average $2,100,000

247 West 46th St - The Platinum is a new construction high rise condominium located in the Midtown West neighborhood of Manhattan NYC.

Located at Eighth Avenue and 46th Street, The Platinum Condominium is
a 43 story, 220 unit, luxury high rise condominium building.

Completed in 2008, 247 West 46th St Condos for sale, became one of the most desired Midtown West new construction buildings on the market.
247 West 46th St The Platinum is a luxury full time doorman building. Amenities include a 24 hour doorman and concierge experience, an
indoor garage- a true Manhattan luxury. A full floor of amenities, named "The Zone," include a state of the art Fitness Center,
indoor/outdoor Yoga Rooms, Spa Treatment Rooms for personal massage, and even a very unique Golf Simulator Room for the golfing
enthusiasts. Residential amenities at 247 West 46th St The Platinum Condos also include a lounge area titled "The Q Lounge" featuring
billiards, outdoor terrace and dramatic decor. The Platinum Condominium is pet friendly with an outdoor dog run which makes taking
of your dogs so convenient.

Condos for Sale at the Platinum at 247 West 46th Street share a number of very desirable features. Including floor to ceiling windows that
are perfect to frame the outstanding Manhattan skyline views from many of the high floor apartments. Well designed layouts with high
ceilings give the condos for sale at the Platinum a welcoming feel.The finishes throughout the apartment are what you would expect from a
luxury high rise condominium building. The kitchens include Thermador stainless steel appliances, limestone counter-tops, climate controlled
wine refrigerators, and efficiently designed kitchen layouts. The bathrooms at 247 West 46th St include free-standing soaking tubs &
Dornbracht and TOTO fixtures and limestone covering the walls and floors. Each apartment has its own Bosch Washer and Dryer and large
walk in closets.

So far in 2012, there have been approximately 12 (Twelve) condos that have sold at 247 West 46th St The Platinum. The price range has been from $1,000,000-$2,000,000, including mainly 1 bedroom sales and acouple of two bedroom sales.

Currently for sale at the Platinum Condominium at 247 West 46th Street we
see a variety of Studio, One (1) Bedroom, Two (2) bedroom, and Three
(3) Bedroom Condominium apartments for sale.

• Studio’s for sale at 247 West 46th Street average $750,000
• One Bedroom’s for sale at 247 West 46th Street average $1,200,000
• Two Bedroom’s for sale at 247 West 46th Street average $2,100,000

We can tell you how much your Platinum Condo is worth!

If you are a condo owner in Platinum Condo 247 West 46th Street and would like to find out how much is your unit worth, we can provide you a fair-market assessment based your building most recent sale, combined with accurate market trend,    we provide you an obligation free of condo evaluation. Call us today to discuss in details.

Platinum Condo 247 West 46th Street

247 West 46th Street - The Platinum is a new construction high rise condominium located in the Midtown West neighborhood of Manhattan NYC. Located at Eighth Avenue and 46th Street, The Platinum Condominium is a 43 story, 220 unit, luxury high rise condominium building.

247 West 46th Street - The Platinum is a new construction high rise condominium located in the Midtown West neighborhood of Manhattan NYC. Located at Eighth Avenue and 46th Street, The Platinum Condominium is a 43 story, 220 unit, luxury high rise condominium building.​

Platinum Condo Market Report Summer 2015

Platinum Condo Market Report June/July 2015

When we look at the Manhattan condominium market, you can't help but see all of the new construction condominium developments. A lot of the headlines are driven by the high price points that some of these buildings are achieving. We also look at the amount of new inventory coming on the market and how that affects the pre-existing re-sale market condominiums, like the Platinum Condominium.

We see near 1000+ units of new apartment product that is in various degrees of coming on the market in the Midtown West/Hells Kitchen neighborhood. This creates a scenario where buyers typically look at these new buildings first before they go to the resale market. At Platinum Condominium, strong prices are being achieved, however there is typically multiple apartments on the market at the same time with some price reductions taking place because of the increase in competition in the building and in the neighborhood.

Given this information are you wondering what your Platinum Condominium is worth? If you are interested in a more detailed analysis of your apartment, contact us for a no obligation discussion.

Call or text us at (917) 837-8869, we can also be reached via email at Morgan.Evans@Elliman.com

 

 

Who is to manage my Platinum New York condo?

We are Manhattan New York condo specialists that have sold and leased many condos for condo owners, we also work with many out of town and oversea investors often asked about Manhattan New York condos.

Many of our out of town condo owners ask: Who can help me rent out and manage my platinum condo once I own it? This is a good question, we work with many out of town and oversea investor buyers that also asked the similar question because they are not Manhattan New York based and would like a full range of service. When we sell an unit in Platinum Condo or any other Manhattan Condo, we not only assist our clients sell, buy, invest their Manhattan New York condos, we also find qualified tenants for our out of town owners on their investment property.

We begin the immediate marketing of the Platinum Condo once our buyers had become new condo owners. When we market for rental, we answer to rental requests and appointment, qualifying the perspective tenant to ensure they are financially qualified and suitable for the condo. Manhattan New York rental brokerage marketing fee is 15% of the first year rent, though depending on the location of the condo, rental price, rental market condition and other key factors, we can discuss in details.

In terms of managing the Manhattan New York condo, depending on clients needs, there are different options. Option one would be the owners manage the tenant and the condo by themselves, this is easy to do especially with full service Manhattan New York condo, there is a building staff and maintenance department a phone call or email away. Option two, we can recommend the property management in terms of being client’s contact person here in Manhattan New York, handling questions and inquiries and etc. There will be a fee in involved in this, as based on each clients’ need, we can make the recommendation accordingly.

Call us to discuss more about your Platinum NY Condo

Let us be your resource in Selling or Renting your Platinum New York condo at 247 West 46th Street

Does Furniture come with Platinum NYC condo?

In Manhattan New York, Many of the website photos of the Platinum Condos or other Manhattan condos will have furniture and fully furnished units. However, the furniture DO NOT convey in a NYC condominium purchase unless it is specifically mentioned in the property description or discussed prior to the negotiation.

If there is an option to purchase the furniture there will often be two prices, one with the furniture and one without. The spread between the two prices, may or may not reflect the actual replacement costs of the furniture and will include a convenience premium of being able to move right into the apartment without spending the time to furnish it yourself.

Sometimes, our buyers may want to purchase the owners' furniture, though there is often a disconnect between what the buyer is willing to pay and the emotional attachment the owner may have for the piece.

Our Platinum Condo and other condo sellers in Manhattan New York will hire staging services to custom design and place the furniture pieces to ensure property maximize its value. This is with help of a team of interior designers and architects, when every square inch of the apartment has been well thought out, it gives the best presentation to the buyer of potential for the space.

If you prefer to sell the furniture together with your Platinum Condo at 247 West 46th Street, we can discuss it in detail to best protect your interest. We also work with a team of Real Estate attorneys that can put the specifics in the contract so all parties are in agreement.

To read about Platinum Condo 247 West 46th Street: http://platinumcondonyc.com/building-news-and-update/

Call us at (917)837-8869 today to sell your Platinum NY Condo

Platinum Condo NYC Prices

2014 was a very busy year in sales at the Platinum Condominium at 247 West 46th Street. We tracked approximately twenty condominium units that went on the market and sold and closed in 2014.

There may have been other sales that never went on the market, selling between private owners, for our purposes, we only are using the apartments that we see as being officially what we consider on the open sales market.

The Platinum Condominium has about 220 total apartments, so last year turn-over of 20 apartments, is about 10%. That shows us there is considerable demand for the building and an ability for owners to sell in the robust condominium sales market. below are some Platinum Condo NYC prices for overall 2014.

SIZE

STUDIO

ONE BEDROOM

TWO BEDROOMS

#of Sales

2

14

4

Range in Price

NA

$1,010,000 to $1,825,000

$2,130,000 to $2,600,000

Average Price Per Sq ft

$1,330 psf

$1,495 psf

$1,770 psf

Average Sales Price

$812,000

$1,350,000

$2,350,000

Having the bulk of the transaction activity occurring for 1 bedrooms shows a strong re-sale demand for 1 bedroom condos in this price category. Something that we see throughout the luxury segment of the condominium marketplace.

Price per Square foot calculations for each segment of the building generally reflect what we see throughout the entire sales market, the more bedrooms the higher the price per square foot.

HOW MUCH IS YOUR PLATINUM CONDO?

In a building like the Platinum condo that is 42 stories tall, the selling price difference between lower floor units and the higher floor apartments is quite evident, reflective in the wide gap we see some apartments selling for. Call us to have a detail discussion.

What’s My Platinum Condominium at 247 West 46th Street Worth?

As of March 15, 2015. Here are some Sale stats of Platinum Condo 247 West 46th Street.

· Condo Units Closed in last 60 Days: 2

· Condo Units “In-Contract”: 4

· Average Price per Square Foot for Sales in the Last 12 months: just under $1600 per square foot

· Average Sales Price to List Price Ratio: 97.3%

· Average Days on Market until a Contract is Executed: 115 Days

· Condo Units Currently Active on the Market: 8

To Know The Exact Value of your Platinum Condo...

As Manhattan Condo Specialists that are very familiar with Midtown West neighborhood, we understand that the your condo price is important to you. Therefore it is important to know all the details about your condo so we can recommend a most fair market price to you. Many factors such as layout, exposure, additional upgrade or special features can affect significantly on your Platinum Condo price. Give us a call today and we will be happy to provide you an obligation free price. Call us today (917)837-8869.

Midtown West Condo Market Report May 2014 Part 2

http://platinumcondonyc.com/midtown-west-condo-market-report-may-2014-part1

What other new construction projects are in the works in the Midtown West neighborhood?

· Stella Tower at 425 West 50th Street is close to coming on the market with planned occupancy starting at the end of 2014

· A two story development on top of the post office at 320 West 52nd Street is planned and suppose to be approximately 48 apartments.

· 135 West 52nd Street is being converted from a hotel into a condominium building with sales to launch this Spring.

Exciting new condominium and rental projects always bring demand with them. A project like 540 West is a good example of how when priced and developed within the expectations of the buyer demand for a particular neighborhood you will see a large turnout and apartments will sell fast. One bedroom new construction condos priced less than $1.1 Million is near impossible to find now, but most of the inventory at 540 West was priced in this in demand segment of the one bedroom market.

With a variety of buildings planned for development in the neighborhood it will be exciting to see new inventory come on the market and how it sells within the context of what is already available.

We see 41 condominiums currently active for sale in Midtown West, ranging in price from $450,000 up to $5,995,000. This is down from 61 Condominiums we were tracking during the 4th Quarter of 2013.

  • 9 Studio's currently for sale ranging in price from $450,000 up to $1,100,000
  • 14-One Bedroom's currently for sale ranging in price from $799,000 up to $2,400,000
  • 11-Two Bedroom's currently for sale ranging in price from $1,100,000 up to $3,200,000
  • 6-Three Bedroom's Currently for sale ranging in price from $2,395,000 up to $5,995,000
  • 1-Four Bedroom asking $3,997,000

We track 72 condominiums currently in-contract in Midtown West, ranging in price from $499,000 up to $4,900,000. This is up from 55 Condominiums currently in-contract as of the 4th Quarter of 2013.

  • 9-Studios ranging in price from $469,000 to $760,000
  • 40-One Bedrooms ranging in price from $550,000-$1,780,000
  • 21-Two Bedrooms ranging in price from $999,000 - $2,600,000
  • 2-Three Bedrooms ranging in price from $1,925,000 - $2,395,000

In all of 2013, we tracked the following closed transaction in the Midtown West Neighborhood.

82-Studio Condominium Sales closed in 2013. The price range was $410,000 to $1,150,000. The majority of the studio sales were selling in the$550,000 - $600,000 price range. Average price per sqft was just around $1250 sq/ft. Most of the sales taking place in the higher price points were either located at the Sheffield at 322 West 57th St or at the Orion Condominium at 350 West 42nd Street.

150-One Bedroom Condominiums closed in 2013. The price was from $485,000 to $2,400,000. Such a huge range, the reason is that the type of condo buildings that exist within the neighborhood. You have the smaller non-elevator buildings, all the way to the hi-rise new construction condominiums that command the highest prices.

Comparing the same time period in 2012 to 2013 this is what we find.

In 2013, we saw extremely limited supply across almost all segments of the condominium market, from studio to Three or Four Bedroom Apartments, there just wasn't a lot for sale. The result was typically large turnouts for the first open house, multiple offers being made and contracts being sent out extremely quickly.

When priced within the contexts of recent sales or other competitive apartments within the neighborhood an owner could expect good offers. A by-product of a robust sales market were some listings coming available that were priced well beyond any current sale. This is something that we plan to see more of in 2014.

For more information about what is happening in your condo building or your specific condo unit, call or email us directly (917) 837-8869 or email (Morgan.Evans@elliman.com), as we focus our expertise on the Midtown West neighborhood.

http://platinumcondonyc.com/midtown-west-condo-market-report-may-2014-part1

Midtown West Condo Market Report May 2014 Part 1

May 2014 Market Report

Since our last market report in January 2014, Midtown West and other neighborhoods prices have continued to climb throughout Manhattan Real Estate. The Hudson Yards projects is going in at full steam anchoring the South Side of the neighborhood.

57th Street to the North is becoming the home to the very most expensive real estate in Manhattan. The Hells Kitchen neighborhood is in a perfect position for price appreciation and seller's are seeing a great opportunity to take advantage of the marketplace

WHAT IS SELLING IN MIDTOWN WEST NEIGHBORHOOD?

· New Construction Condominiums-Not officially on the market yet, Stella Tower at 425 West 50th Street which is planned to be 51 units of mainly One and Two Bedroom Condominiums. We have seen the building already and the views are impressive. Because of height restrictions of the surrounding neighborhood, Stella Tower is positioned itself with commanding views of the entire Midtown West neighborhood. Expect a lot of the inventory at Stella Tower to go into contract quickly.

· Studio's in the sub-$600,000 price range are typically having contracts signed within 21 days of coming on the market. At the new development condominium at 540 West 49th Street, almost all of the studio apartments went into contract quickly with a price range of $705,000 to over $950,000. Any studio condominium priced competitively has a very good chance of seeing a lot of activity as the supply for this segment of the market is very low right now. We can discuss your Midtown West condo on the phone. Give us a call today.

Here is the part 2 of Midtown West Condo Market Report May 2014

Midtown West Condo Market Report | January 2014 Part 2

One bedroom new construction condos priced less than $1.1 Million is near impossible to find now, but most of the inventory at 540 West was priced in this in demand segment of the one bedroom market.

We see 41condominiums currently active for sale in Midtown West, ranging in price from $450,000 up to $5,995,000. This is down from 61 Condominiums we were tracking during the 4th Quarter of 2013.

  • 9 Studio's currently for sale ranging in price from $450,000 up to $1,100,000
  • 14-One Bedroom's currently for sale ranging in price from $799,000 up to $2,400,000
  • 11-Two Bedroom's currently for sale ranging in price from $1,100,000 up to $3,200,000
  • 6-Three Bedroom's Currently for sale ranging in price from $2,395,000 up to $5,995,000
  • 1-Four Bedroom asking $3,997,000

We track 72 condominiums currently in-contract in Midtown West, ranging in price from $499,000 up to $4,900,000. This is up from 55 Condominiums currently in-contract as of the 4th Quarter of 2013.

  • -Studios ranging in price from $469,000 to $760,000
  • 40-One Bedrooms ranging in price from $550,000-$1,780,000
  • 21-Two Bedrooms ranging in price from $999,000 - $2,600,000
  • 2-Three Bedrooms ranging in price from $1,925,000 - $2,395,000

In all of 2013, we tracked the following closed transaction in the Midtown West Neighborhood.82-Studio Condominium Sales closed in 2013. The price range was $410,000 to $1,150,000. The majority of the studio sales were selling in the$550,000 - $600,000 price range. Average price per sqft was just around $1250 sq/ft. Most of the sales taking place in the higher price points were either located at the Sheffield at 322 West 57th St or at the Orion Condominium at 350 West 42nd Street.

150-One Bedroom Condominiums closed in 2013. The price was from $485,000 to $2,400,000. Such a huge range, the reason is that the type of condo buildings that exist within the neighborhood. You have the smaller non-elevator buildings, all the way to the hi-rise new construction condominiums that command the highest prices.

Comparing the same time period in 2012 to 2013 this is what we find.

In 2013, we saw extremely limited supply across almost all segments of the condominium market, from studio to Three or Four Bedroom Apartments, there just wasn't a lot for sale. The result was typically large turnouts for the first open house, multiple offers being made and contracts being sent out extremely quickly.

When priced within the contexts of recent sales or other competitive apartments within the neighborhood an owner could expect good offers. A by-product of a robust sales market were some listings coming available that were priced well beyond any current sale. This is something that we plan to see more of in 2014.

For more information about what is happening in your condo building or your specific condo unit, call or email us directly (917) 837-8869 or email (Morgan.Evans@elliman.com), as we focus our expertise on the Midtown West neighborhood.

Read below post for the part 1 of introduction of Midtown West neighborhood.

http://platinumcondonyc.com/midtown-west-condominium-market-report-january-2014​

Midtown West Condo Market Report | January 2014 Part 1

One of the most vibrant neighborhood that is most overlooked until recently.  Midtown West Neighborhood is being categorized as a hot commodity right now. You can find more about the transformation of Hells Kitchen from a gritty neighborhood to a must visit Manhattan neighborhood.

New condominium projects such as 540 West 49th Street are selling extremely well, higher end luxury condominiums are in development with a number of large luxury rental projects currently being built. Phrases such as the "Next Chelsea" are becoming more commonplace when describing Hells Kitchen.

There are many exciting new condominium and rental developments always bring demand with them. A project like 540 West is a good example of how when priced and developed within the expectations of the buyer demand for a particular neighborhood you will see a large turnout and apartments will sell fast.

One bedroom new construction condos priced less than $1.1 Million is near impossible to find now, but most of the inventory at 540 West was priced in this in demand segment of the one bedroom market.

With a variety of buildings planned for development in the neighborhood it will be exciting to see new inventory come on the market and how it sells within the context of what is already available.

To continue reading about Midtown West condo numbers we have tracked in January 2014, visit Part two of this Midtown West condo Market Report.

​http://platinumcondonyc.com/midtown-west-condo-market-report-january-2014-part-2/

For more information about what is happening in your Midtown West condo building or your specific condo unit, call us at (917) 837-8869 or email (Morgan.Evans@elliman.com), as we focus our expertise on the Midtown West neighborhood.