July 2023

Pizzagate

 You may have heard about the panic over pizza ovens in NYC. Some even tossing slices at the gates of City Hall. Here’s what’s going on... the city’s Department of Environmental Protection, is debating a rule change proposing that restaurants with wood- or coal-fired ovens installed prior to May 2016 add devices that would reduce emissions. 

While officials say it will affect under 100 of the city's countless pizza joints, pizzeria owners told New York news outlets that they expect to spend tens of thousands of dollars to install the emissions-trapping machines. Critics say the devices will cost a lot of "dough" and may affect the flavor of the world famous cheese and tomato pie. The rule in New York is not due to take effect until the public comment period ends on July 27th.

Market Report

In Q2, residential real estate sales 

in Manhattan amounted to $5.2 

billion across 2,548 transactions, 

representing a 32.6% decline 

compared to the previous year and 

a 32.2% increase quarter-over- quarter. However, contracts signed, which provide a more accurate reflection of the present market, experienced a less drastic shift – with a 21.7% year-over-year decrease and a 22.6% increase for the quarter. Defying expectations, the luxury market for properties priced at $5-10 million witnessed an increase of 17.4% compared to Q2 2022, with 175 contracts signed in the second quarter. Notably, all-cash transactions have emerged as a preferred method to navigate rising mortgage rates while attainable price point shoppers negotiate their wish list. The luxury market demonstrated upward momentum as buyers with abundant liquidity regained confidence in transacting.  The full quarterly report can be found here.

Property of the Month

333 East 119th Street #1K

NEWLY STAGED

Welcome to this beautiful 2 bedroom 2 bathroom home at The Palm on East 119th Street, with bright and open exposures all facing south. 

This is on the second floor of the building and features Brazilian hardwood floors and oversized South facing windows.

Apartment 1K is well located on the same floor as its amenities; which include the laundry room, the windowed building gym with a TV for entertainment, as well as the vast furnished outdoor patio which serves very well for an alternative to the nearby Thomas Jefferson Park.

June 2023

What's in the Air?

In early June, a cough-inducing, yellow-orange haze smothered NYC and created hazardous air-quality conditions. The sight was caused by smoke that’s been blown southward from hundreds of Canadian wildfires. 

It was wild, everyone was in masks and the conditions got worse by the hour. I had a splitting headache all day and remember thinking the city looked like a movie set!

A low-pressure system was pushing the smoke down to the five boroughs and holding the smoke close to the ground, creating some of the worst air conditions in the world. The New York Department of Environmental Conservation issued an air quality health advisory. 

Whether it will return is up in the air (no pun intended), however the governor is urging those who are vulnerable to monitor the latest information and take steps to protect themselves if it does.

Composting

Finally NYC has decided to get onboard with composting. Something Seattle and all of California have been doing for years and years.

On Thursday, the New York City Council approved a bill that will require New Yorkers to separate their food waste from regular trash and recycling. 

This new law will be rolled out borough by borough and will start this Oct with Brooklyn and Queens, then SI and the BX march 2024 and finally manhattan October 2024. Why Compost? 

When food goes to a landfill, it gets covered with dirt and composts in an anaerobic environment. This produces methane, a greenhouse gas with 16 times the effect of CO2. By composting, you create a closed-loop system that puts carbon right back into the soil for use by plants and microbes.

Market Report

The luxury market is on the up! Mid June saw an uptick in sales with 31 contracts signed at $4M and above for the week of June 11th. That includes 20 condos, 9 co-ops, 1 condop, and 1 townhome.

Property of the Month

1160 Third Avenue #10D

Welcome to Residence 10D at The Frost House. This 2 bedroom 1 bathroom apartment has just been COMPLETELY gut renovated! Some notable features include new floors, new kitchen cabinetry and counters, power shades throughout, top-of-the-line stainless Bertazzoni appliances, custom closets and West facing City views from your balcony. This is the perfect starter home in an incredible area.

Cable and internet is included in monthly maintenance of $2,685.00

The Frost House, located at 1160 Third avenue between 67th and 68th streets, is a full-service cooperative built in 1965. There is a laundry room in the basement and live in Super. The Frost House is less than 10 minutes from Central Park, Bloomingdales, and close to a surplus of restaurants and bars. Located around the corner from the 6 train it is also a short walk to the NRQW, FQ and the nearby FDR.

May 2023

Mother’s Day

Every year for Mother's Day I host a big event. Typically, all of my clients and friends bring their kids. This year, I decided to leave the kids at home and hosted a wine tasting. We held the event at a beautiful private dining room in the Park Loggia- a new development where I had recently done some business. To get into the wine with us, I hired The Grape Escape - a dynamic duo who knowledgeably walked us through different types of wine. In my industry, my circle is EVERYTHING. So I really wanted to take the chance to thank all of the mom's in my network. My success is because of you!

Market Report

Cash is flying! Given interest rates are still up, all-cash deals make up a larger portion of the New York City market than at any time on record, accounting for 60% of condo sales in Manhattan this year. “When rates went below 3 percent, cash buyers started to finance their purchases,” recalled Steven James, CEO of Berkshire Hathaway Home Services. In September 2020, when the average 30-year mortgage rate was below 3% for a second month, Manhattan saw fewer all-cash condo deals than any month in recent memory.

Rent Your Look With Ronita!

I’m constantly standing in my closet thinking, “I have nothing to wear”. If you feel this way also, I found the solution. I just launched Retail with Ronnie! It’s essentially an unlimited clothing rental subscription service where you can pay a monthly fee to get access to a giant catalog of clothes. There’s a 30 day FREE trial to all new users. Let me know if you have any questions! I’m here to chat.

Property of the Month

131 West 122nd #4B

This apartment is in a boutique luxury condo located in a beautifully restored townhouse in the prime neighborhood of SoHa. It is a penthouse duplex situated on the top floor of the building, accessible via a three-floor walk-up. The unit boasts a contemporary glass construction with a stunning interior design.

This home also offers the convenience of an in-unit gas-powered WASHER and DRYER. 

Included with the apartment is a full storage room unit located downstairs, providing extra space for your belongings or seasonal items.

The townhouse condominium has only nine apartments in total, ensuring a sense of exclusivity and privacy. The building is well-maintained and impeccably kept, adding to the overall appeal of the property.