December 2023

Holiday Activities in The Big Apple

This year marks the 97th annual Macy's Thanksgiving Day Parade. The festive holiday spirit in New York City can be felt in the crisp winter air starting the day after Thanksgiving. The smell of chestnuts roasting fills Central Park, and the Christmas trees for sale in every neighborhood make each sidewalk smell comforting. Take a look at some of our recs for activities this 2023 season:

1) The Winter Village at Bryant Park is back in all its glory. On the grounds you can peruse more than 180 shopping and food kiosks. Before that you can work up an appetite at the 17,000-square-foot ice skating rink.

2) The Rockefeller Center Christmas Tree doesn't require any explanation. Don't miss the most iconic symbol of winter.

3)  GingerBread Lane—the world's largest gingerbread village—will return to Manhattan with NYC-inspired designs.  Artist Jon Lovitch has been working on the detailed gingerbread display all year long. Find GingerBread Lane at Chelsea Market in Manhattan from November 26 to January 7.

How Can We Give Back?

Volunteering during the holidays is an incredible way to spread joy and make a meaningful impact in the community. Here are some of our most beloved soup kitchens, shelters, and toy drives to volunteer with during the holidays in New York:

- Holy Apostles Soup Kitchen: Since 1970, this Chelsea haven has served as a beacon of hope, providing hot meals and companionship to New Yorkers facing food insecurity. Join their "CSW (Christmas Season at Work)" program to help prepare and serve meals, spreading holiday cheer on a plate.

- Dress for Success: Empowers women on their journey to economic independence by volunteering at Dress for Success. Help volunteer or donate professional attire to build their confidence in job interviewing, with the potential of making a lasting impact on their lives.

- Toys for Tots: Bring smiles to children's faces by donating new, unwrapped toys to this iconic organization. Every toy collected brings the magic of the holidays to a child in need.

Every act of kindness, no matter how small, can create a wave of positivity in our city. 

Market Report

The fed has announced there will likely be 3 cuts next year to aid interest rates. For the sellers unable to move their product this year this brings great opportunity for a new set of buyers next year. 

With rates coming down will expect to see the supply of for-sale homes on the rise. An increase in supply will lead to increased demand which may have an effect on pricing. For those looking for bargain pricing, I believe our days are numbered. 

Property of the Month

205 East 78th Street #7J

This charming prewar gem exudes character and comfort, boasting a large 1-bedroom layout highlighted by a classic fireplace. Its inviting eat-in kitchen offers a warm gathering space while the added convenience of a washer dryer and a window in every room brings light and ease to this vintage beauty. 205 East 78th Street is an extremely well-run prewar cooperative built in 1931. 

November 2023

Thanksgiving

This year marks the 97th annual Macy's Thanksgiving Day Parade. Macy’s first was held in 1924 and they have hosted a parade nearly every year since—the only exception was a brief stretch from 1942 to 1944 wherein the parade was canceled to conserve helium for use during World War II.

We feel forever grateful for the constant love and support given to us by our clients, friends and colleagues. 

We are especially thankful to be able to gather with our family and children when so many are not so fortunate. 

War in the Middle East

The October 7th, 2023 terrorist attack was a horrific event. We feel so much pain thinking about the hostages still captured.

In the same breath we feel terrible about the innocent civilians losing their lives due to the retaliation war. 

Although big world events do influence the real estate market, we are optimistic since rates have fallen and traffic is remaining constant. We understand many in the world are suffering while we are sitting here writing newsletters and we acknowledge the reality many are facing. 

Praying for peace and resolution for everyone soon. 

Market Report

Finally there has been some relief in these higher rates! The interest rate on a 30-year fixed-rate mortgage is 7.125% as of November 20, which is 0.375 percentage points lower than Friday the 17th. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.250%, which is also one whole percentage point lower than Friday!

Although we're not in 2020 territory, we have seen that this drop has created movement in the real estate market. Our open houses were very busy and buyers are making offers the week of Thanksgiving!

 Remember- the best deals are found  during hard times! 

Deal of The Month

509 West 122nd Street Apartment 22

After a year and a half of looking with my cash buyer we were the winners of a bidding war on a 2 bedroom and 1 bathroom coop in Morningside Heights. This is a testament that supply issues will still lead to bidding wars in a difficult market! Being an academic, my client dreamt of living near Columbia University and finally got the opportunity.

The inventory there is scarce so when this turnkey, South facing, 2 bedroom came to market it was no surprise it got multiple offers.

We were able to secure the property and have been board approved! Check out this unicorn of a listing here. A great reminder, in slow real estate times, there will always be pockets of neighborhoods with bidding wars. 

Pre-war elegance meets sleek modernity in this spacious two-bedroom apartment in the historic Ogontz building in Morningside Heights. The Ogontz was highlighted in Apartment Houses of the Metropolis, a 1908 publication that introduced the ‘new’ concept of select apartment dwellings designed with capacious rooms, ornate interior details, lofty ceilings and luxurious amenities that exceeded urban expectations of the era.

October 2023

Market Update

2023 has not been an award winning year for New York real estate. While sales prices are slightly up, the amount of transactions is down across all price points and sectors. 

This is all clearly a result of rising interest rates and a lack of confidence in the economy as well as the most recent war in the Middle East. 

With that said, one positive note is that unlike in past years, each Quarter of 2023 has outdone the last in sales volume. Q3 saw more trades than Q2 and Q2 performed better than Q1.

Retail with Ronnie - Fall is Here!

With the crisp cool air upon us it is in fact sweater weather! Check out the latest arrivals on Retail With Ronnie to find cute blazers, sweaters, fall dresses and denim for the best dressed season of the year. Check out these weekend jeans I got several compliments on. 

Retail with Ronnie is a clothing rental subscription service where you can get up to 4 items at a time for $50/month. no commitments necessary, cancel anytime.

An Indian Wedding

My sister got married this past weekend and it was nothing short of a fairytale. Indian weddings are so unique and if you haven't been to one, I recommend befriending your nearest Indian immediately! They are multiple days and they are epic - here's the breakdown of events.

My sister got married this past weekend and it was nothing short of a fairytale. Indian weddings are so unique and if you haven't been to one, I recommend befriending your nearest Indian immediately! They are multiple days and they are epic - here's the breakdown of events.

Mehndi - first the woman of both sides of the family apply henna to their hands. This usually happens a few days before the wedding and turns into a party itself. 

Sangeet & Garba - The party before the party. A night of dancing and choreographed performances by the couples families, friends, cousins, and whoever else wanting to join in on the fun. Sangeet's usually celebrated by everyone. Garba is traditional for people from the state of Gujrat in India. 

Haldi - The bride and groom are covered by their family members in a tumeric paste before they get married. This is to purify them and exfoliate their skin so they look amazing.

Wedding - Hindu weddings can be very long but modern days ones are usually 45 minutes. The main focus is the 4 rounds the couple takes around the holy fire and the 7 steps they take together in life. The groom makes the bride wear a mangla sutra - a wedding necklace and they of course exchange wedding rings (we love our jewelry!) 

Cocktail and Reception - This is the same as in American culture. The father/daughter mother/son dances, speeches and lots of fun.

Property of the Month

11 Gramercy Park

For Rent
Welcome to Residence 3 at 11 Gramercy Park South. This beautifully restored 1400+ square foot duplex has three bedrooms and two full bathrooms. The property features original 100 year old hard-wood floors, an active wood-burning fireplace, and includes a key to the private Gramercy Park.

This special home is located in the elite enclave of the Gramercy Park Historic District. Gramercy Park is a privately maintained park in a most distinct section of New York City. This coveted location is also steps away from the finest restaurants, shopping, and convenient public transportation. Storage is available for an additional fee.