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Existing-Home Sales Heat Up in May, Inventory Levels Continue to Improve

vrouhas real estate

home sales – spiro vrouhas

WASHINGTON (June 23, 2014) – Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier. Read more


Real Estate by Spiro Vrouhas at bostonluxuryestates.com

3 Easy home security tips


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Home Security Tips


Making sure that your home is secure should be a priority in your life not only because you want to protect what’s rightfully yours, but more specifically because it could be the most important thing that you do for your family and for yourself. Here are some simple home security tips from Spiro Vrouhas that you can implement at little or no cost.

1.)                Lock Your Locks

When it comes to home security, the single most important thing that you can do is to make sure that both your windows and doors are locked.  We no longer live in a time when it’s safe to go to bed at night with the door unlocked or the windows open, so do yourself and your family a favor by double checking those locks and making sure that all latches and hinges are functioning properly.

2.)                Light Your Lawn

What would you do if you were to hear a noise outside, but had no way to see without opening the door?  The proper lighting outside your home is essential as it allows you to view your outside space from the safety of your home’s interior.  “Motion sensor lights are easy and effective tools to secure your property” says realtor Spiro Vrouhas.

3.)                Trim Down

If you have large trees, bushes or hedges in your yard, trim them to a level that will allow you to see out the window without an obstructed view.  If you hear a noise or a knock at the door, you will need to be able to turn on the porch light and glance outside the window before opening the door.  An important rule of thumb is to remove or trim anything that may block your view of the lawn in any way.

I hope these simple home security tips will help protect your most value asset, your family. If you need any advice on buying or selling, contact Spiro Vrouhas for a confidential real estate consultation. 

Manhattan rental rates up for first time since August



Manhattan rental rates up for first time since August: report

Landlords boosted concessions in March to ward off rise in vacancies

April 10, 2014 12:01AM
By Julie Strickland

Manhattan rental rates edged up in March for the first time in six months as landlords moved to bolster occupancy with an increased number of concessions, according to Yuval Greenblatt, executive vice president of Douglas Elliman.

The median rent for a Manhattan apartment edged up 0.2 percent to $3,200 per month in March, up from $3,195 in the same period of 2013, according to Douglas Elliman’s monthly rental market report released today

“In Manhattan, this was the first month rent didn’t slip since August, because we’re getting now closer to the true rental season,” Greenblatt told The Real Deal. “It looks like we had a weaker off-season last year,  but the trend was clearly reversed in Manhattan in March.”

Although the average landlord concession was roughly the equivalent of one month’s rent in March, the use of concessions increased to 9.4 percent of all lease deals, up from 4.6 percent in the same period last year, the Elliman report said.

“The majority of the landlords in Manhattan are major, professional landlords who sometimes prefer to buy occupancy via increased concessions,” Greenblatt said. “It’s one way landlords intelligently deal with their inventory – they do that to get ahead of vacancies. And it’s clearly worked because you see median rents stopped declining and listing inventory was pretty flat year-over-year.”

Studio units saw the biggest price increase, with the median rent rising 2.5 percent to $2,401 from $2,342 in March 2013. Rents for one-bedrooms ticked up 1.6 percent year-over-year to $3,250 from $3,200 — but the monthly median rate tumbled for both two- and three-bedrooms. Two-bedroom rentals went for a median price of $4,650, down 2.1 percent from $4,750 in March of last year, while three-bedroom rentals slipped 4.7 percent to $7,100 from $7,450.

The Manhattan rental vacancy rate hit 1.46 percent in March, down from 1.50 percent the previous month and exactly the same as the rate in March 2013, according to Citi Habitats’ rental market report released today.

“The cost of renting for the tenant has changed dramatically, but incomes aren’t rising in the same proportions,” Gary Malin, president of Citi Habitats, told The Real Deal. “So it gets to a level where prices are strong and that leads to deals, but they can’t be pushed any further without having an impact on vacancy rates.”

The average Manhattan renter paid 0.4 percent less for an apartment in March than in February, the Citi Habitats report said.

In Brooklyn, listing inventory skyrocketed, jumping 72.4 percent to 1,495 listings from 867 in the same period last year. The median rent there in March was $2,900 – up 13.3 percent year-over-year, according to Elliman.

Brooklyn’s priciest pads were two-bedrooms in Dumbo, which had a mean rental price of $5,281 per month, while the cheapest were studios in Bay Ridge, with a mean of $1,200 per month, according to MNS’ March rental market report.

W Hotel Residenceies Boston


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The W Condos Boston, which are affiliated with the world famous W hotel, is located just steps from the public gardens and Back Bay. As one of the newer condo developments to Boston, the building is over 28 floors and features a five star, 235 room hotel, 123 luxury residential condos. In addition to the hotel and residences the development has over 12, 000 square feet of retail space and an underground garage. Jean Georges’ Market Restaurant is located on the lobby level along with Bliss Spa, and the signature W Lounge which strives to cater to the residents of condominiums. As is customary with most W Residences, a 24 hour concierge will go out of their way to make sure residents are well taken care of at all times. With regard to the residences themselves, each is appointed with the finest materials and finishes. Each unit has floor to ceiling windows to showcase stunning park, river and skyline views. In many ways the residences at the W offer luxury that other developments simply cannot. It is the crème de la crème of luxury living in Boston.

For more information on the W Hotel Residencies, contact Spiro Vrouhas for your real estate consultation.



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Jay Pharoah, Amy Brenneman ink leases at the Atelier: source


These are the latest in a string of celebs to check into the Midtown building

“Saturday Night Live” Obama impersonator Jay Pharoah and “Judging Amy” actress Amy Brenneman are the latest celebrity tenants to sign leases at the Atelier, at 635 West 42nd Street, The Real Deal has learned. [more]


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