February 2023

Lenox Hill Update
Check out what's new on the Upper East Side for the NYC Ronita Kalra Team!

  1. Now Available - 201 East 66th Street, Unit 16C

  2. Now Available - 304 East 65th Street, Unit 38AD

  3. Offer Accepted - 1160 3rd Avenue, Unit 12B

  4. In Contract - 1160 3rd Avenue, Unit 11D

Treat Yourself - Spas in NYC
New York City is known for its restaurants and museums but did you know it also has some of the most lux spas in the world? I recently experienced a massage at the Park Hyatt and did some digging to explore the great options that exist in our town. Here are the top 11 by Conde Nast.

  1. Equinox Spa

  2. Bamford Wellness at 1 Hotel BK Bridge

  3. The Spa at Four Seasons Downtown

  4. Shibui at the Greenwich Hotel

  5. AIRE ancient Baths NY

  6. Guerlain Spa at the Plaza

  7. THE WELL New York

  8. The Spa at Mandarin Oriental

  9. Remedy Place

  10. Spa de La Mer at the Baccaratt

  11. Rescue Spa

Market Report
Last week was an impressive week for Mid February. Overall demand and sales volume jumped 6.5% and 12% respectively from the week prior.
The luxury market saw the highest number of contracts signed in over 9 months!
Inventory is still tight. New listings fell 20% week-over-week while overall supply remained flat.

Property of the Month
304 East 65th Street #38AD
FOR SALE and FOR RENT

Welcome to Residence 38AD at The Rio in Manhattan. This gut renovated two bedroom two bathroom home combined two apartments to create a seamless modern space in the sky. Spanning an entire half floor the unit features two private terraces, floor to ceiling windows, and City, River, and Central Park views.

Upon entry to the West is the vast living space with Northwest facing views. Along with two coat closets is a full bathroom, as well as eat-in kitchen. The chef’s designer open kitchen with Porcelanosa stone countertops and backsplash includes a breakfast bar and top of line appliances: Liebherr, Wolf, Viking 6 burner stove, and hidden Miele Washer & Dryer.

Back East are the primary and second bedrooms. The oversized master suite has a custom mill work walk-in closet with East River views, terrace access, and an en-suite bathroom. The second bedroom comfortably fits a king bed and also has terrace access.

Built in 1986, The Rio is an internationally-known condominium at 65th Street just off Second Avenue in NYC. This sophisticated 150-unit building offers residents an attentive uniformed staff, a health club, sauna, spa, steam room, swimming pool, common garden and lovely roof deck with breathtaking panoramic views.

Primary residence will be eligible for an additional tax abatement.

January 2023

Real Estate with Ronnie

My website has been updated! Check it out HERE for our latest New York listings, newsletters, videos, and testimonials. You'll find all things #RealEstatewithRonnie!

Interest Rates

Current rates in New York are at around 6% (lower than last month!) This rate however, can be lowered through negotiation of your property.

Here's how: the seller can buy down your rate. A "buy down" is a way for a borrower to obtain a lower interest rate by paying discount points at closing. Discount points, also referred to as mortgage points or prepaid interest points, are a one-time fee paid upfront. In the case of discount points, the interest rate is lower for the loan term.

In an alternate form of a buy down, the points purchased reduce the interest rate for a given amount of time at the beginning of the loan. This arrangement is typically paid for through funds escrowed by the seller. Since the interest rate is lower during this time, the borrower’s monthly mortgage payments are more affordable. The cost for each discount point depends entirely on the amount you, as the borrower, take out on the loan. Each point that a borrower pays is equivalent to 1% of the loan amount.

For example, a mortgage lender may offer a borrower the ability to reduce their interest rate by 0.25% in exchange for a point. So, if the borrower is obtaining a mortgage for $400,000 and is offered an interest rate of 4%, paying $4,000 would lower their interest rate to 3.75%.

Contact a mortgage broker to learn more.

Market Report

On a personal level, this last weekend we felt a turning point in NYC. We saw HIGH activity at all open houses across the market at all different price points. All of our buyers also agreed that the open houses they visited all had multiple parties.

According to Compass data, OH traffic was up 70%!

Last week we saw the highest sales volume in the luxury market in over 9 months.

There were 145 contracts total signed last week in Manhattan.

All these signs are pointing to a healthy strong recovery. 2023 is off to a great start!

Property of The Month
8 East 63rd Street

Welcome to 8 East 63rd, an exceptional 25’ wide townhouse located on a tree lined street between Fifth Avenue and Madison Avenue- along with the most exquisite real estate in New York City. This 10,000 sq. ft and 9 bedroom home features three private terraces, an elevator, 11’7 ceilings, 6 fireplaces, and so much more. The home encases two duplex apartments which are separate except through the main stairwell.

This one-of-a-kind property was designed by distinguished architect CPH Gilbert in 1878. Gilbert built the townhouse for his client Joseph Hodges Choate- an acclaimed lawyer and salesman- to mirror an 18th century English townhouse. Erected in the finest location, the brick facade boasts limestone trim and an elegant three-story rounded bay. The city block is famous for its limestone facades in the Beaux-arts and Italian Renaissance palazzo styles. Neighboring homes constructed by the great townhouse architects, CPH Gilbert, John. H Duncan, and D & J Jardine for high-profile residents such as Woolworth, Bloomingdale, Brokaw, and Oscar Hammerstein. Planted in the most coveted area in all of Manhattan, the home offers a world-class Upper East Side lifestyle. A few doors from Central Park, fine private schools, first-rate museums, Madison Avenue shopping, and elite dining.

December 2022

Holiday Season in NYC
Arguably the best, and most crowded time to be in New York City is the holiday season. There is an overload of activities to check off in the big apple. Here are just a few NYC finds...

  1. We'd be remiss if we didn't mention the Rockefeller Christmas Tree. This year's tree measures in at 82 feet and weighs in at 14 tons. The Norway Spruce came from Queensbury, New York, and was transported to the city via flatbed truck. The trees change annually but they always provide the same sense of awe.

  2. The Winter Village in Bryant Park is not only the largest Christmas market in the city but also by far the nicest on account of its adjacent ice rink and places to shop and eat. This along with its amazing location among all the skyscrapers makes for the perfect Christmas experience.

  3. Share the joy of the holidays with your loved ones this year at the Christmas Spectacular Starring the Radio City Rockettes. Experience Radio City Music Hall as it transforms into an immersive, magical wonderland and discover what’s new in this iconic New York City tradition. Make time for joy this holiday and create lasting memories with the legendary Rockettes.

  4. Ice skating in NYC is one of the city’s most beloved seasonal traditions. While some skating rinks are open year-round, ice skating in the winter — especially around the holidays — is a special treat. The iconic rink at Rockefeller Center and the Bank of America Winter Village at Bryant Park are bursting with holiday cheer (and fab food and drinks), while low-key rinks at NYC parks offer a more chill experience. Don't worry, you don't have to be an expert to strap on the skates!

Give the Gift of Diamonds

Diamonds are everyone’s best friend, right? Recently there has been a shift in the way people view and value diamonds. They are ethically controversial because of how they are mined and very expensive.

Lab Grown Diamonds have picked up a lot of popularity with Gen Z. They are a third of the price and even jewelers can not tell the difference. It is said that the only difference is the GIA certificate to prove that a diamond is “real” and not lab grown. 

     A lot of families will never buy lab grown because they will not appreciate in value however, how often are people selling back their diamonds? Usually they are passed down and become more sentimental family heirlooms than assets on your financial statement. Lab grown are great alternatives for those fashion pieces - solitaire earrings, that 2 stone ring, or that tennis choker you want to be able to travel with.

If you are interested in learning more or purchasing, I can connect you with a wholesaler here in NYC.

Market Update

To no one's dismay, New York City was ranked #1 on the most expensive cities to live in this year. In order to create the list, the EIU compares more than 400 individual prices across more than 200 products and services in 172 cities. 

According to this year's Worldwide Cost of Living Index, released by the Economist Intelligence Unit (EIU), the average cost of living is up 8.1% in 2022, owing to the Russian war in Ukraine and the lingering effects of the  pandemic. 

Unsurprisingly, New York City took the cake this year, alongside Singapore.

Deal of The Month
150 East 65th Street

Excited for our clients who are now proud tenants of this beautiful 4 story townhouse.

Built in 1899, this beautiful home lives between Third and Lexington and includes almost 3,600 interior square feet, an elevator, four private outdoor spaces with a full backyard with jacuzzi, terrace, balcony and roof deck, king sized bedroom with sky-light, a library, fireplaces and a full basement perfect for a live-in nanny.


The top floor has a king sized bedroom with skylight and balcony, a full bath, a fourth bedroom and a spiral staircase to the roof deck.

Wishing everyone Happy Holidays and a wonderful New Year from the Ronita Kalra Team. We are so grateful for your support, your business and all the referrals. Cheers to a healthy and prosperous 2023!