April 2024

Mother Nature in the City

The month of April featured both a Solar Eclipse and an Earthquake! 

On April 5th, NYC experienced an earthquake with a magnitude of 4.8. I was sitting at my kitchen counter listening to an audiobook while in between calls when the entire building started to shake. I immediately thought the wind was blowing very hard but then soon realized it was something more! It was the first time I had ever felt the earth shake and I'm thankful to be able to have experienced it without any major detrimental impact to our city and its residents. 

Only a few short days later on 4/8 (coincidence? I don't think so!) we had a solar eclipse. NY only featured partial visitability however it was an exciting week for us to feel 2 natural phenomenons just a few days apart.

Market Report

Buyer activity in Manhattan is on the rise, driven by growing acceptance of higher mortgage rates and an increase in all-cash financing. Pending sales (signed contracts) surged by 9.3% in Q1 compared to Q4 and 1.7% year over year, as buyers, eager to make a move, returned to the market. 

There was a noteworthy spike in interest for ultra-luxury apartments priced above $20 million, with a 140% increase in signed contracts in this category. 

Additionally, units featuring three bedrooms and four or more bedrooms saw significant upticks in pending sales, rising by 10.4% and 19.2%, respectively, compared to last year. Overall, pending sales experienced price appreciation, while closed sales saw price declines.

April Activities 

Cherry blossoms in New York City have bloomed and are in full effect. The annual Cherry Blossom Festival at the Brooklyn Botanic Garden is a popular event that celebrates the blooming of these beautiful flowers. If the weather is kind, the blooms will last into the first days of May.

Another exciting April feature is the start of baseball season. Whether you're a Mets fan or Yankees fan, you can visit a baseball game nearly everyday until October. Get yourself a hot dog and enjoy the ballpark! 

Yankees Schedule 

Mets Schedule 

Property of The Month

201 East 79th Street #16I

Presenting a chic two-bedroom, one-bathroom retreat on an enviable high floor of a modern cooperative building at 201 East 79th Street, nestled in the heart of the Upper East Side. This residence boasts a thoughtfully designed layout, featuring a spacious living room flooded with natural light from expansive east-facing windows. Revel in the sophistication of brand new 7 1/2-inch hardwood floors, complemented by high lofty ceilings and abundant storage options.

Embracing a contemporary aesthetic, 201 East 79th Street just completed a comprehensive renovation, including a striking new porcelain facade, updated lobby, hallways, and garden enhanced amenities. common roof deck. Residents enjoy the convenience of a 24-hour doorman and concierge, live-in manager, central laundry, cold storage, bike storage and on-site parking and more!dough, great coffee and tons of fresh produce. 

March 2024

Market Report

Market Report

As we enter the busy season here is our advice for sellers and buyers with help from research done by Urban Digs:

The peak listing period runs from March to June. Despite a decline in prices in 2023, the market is showing signs of rebound. Supply is tight, but new listings are expected to change that. Sellers should take advantage of the seasonal uptick in contract activity, but keep price expectations realistic. While the market may have improved, it's likely only a partial recovery, resulting in a balanced market at best. Nonetheless, these conditions are favorable for sellers.

Buyers should be aware that seller leverage may have peaked. While prices still favor buyers compared to last year, expect more competition and less flexibility from sellers. Deals are still available, but there is increased urgency. The market is likely turning around, so buyers should adjust their approach accordingly.

Easter in NYC

Show up with your most lavish hat at St. Patrick's Cathedral at 10am for the Easter Bonnet Parade and Festival.

2. Brunch is always a good idea and TimeOutNY has a list of the best Easter Brunch's in NYC - click here.

3. SpringTopia at the Seaport - Head over to Seaport Square and the rooftop at Pier 17 from 11am-2pm on Saturday, March 30 for a kid-centered Easter festival that includes dancing sessions, face painting, wreath-making, egg races, Easter bunny photo-ops and more.

4. Children's Museum - Join the Children's Museum of Manhattan for a weekend of museum-wide egg hunts, papier-mâché Easter Egg decorating sessions, basket weaving classes, bunny head band arts-and-crafts sessions, and much more.

5. Adult Easter Egg Hunt! Don't let the kids have all the fun. This adult Easter egg hunt kicks off with cocktails. In addition to re-experiencing the childhood glee of scavenging for colorful eggs, you'll also get the chance to win prizes.

6. Plaza FunThe Plaza Hotel is gearing up for an egg-celent week leading up to Easter Sunday, starting with a series of afternoon tea hours starting March 24 until March 31 from 10am-4pm. The afternoon tea service will take place in the hotel's Palm Court, and will include a selection of Easter-themed pasties and sandwiches. 

Its (almost) time to put your jackets away and bring out the Spring Fashion! Once 60 degrees hits I always find myself changing out my closet and what better way to add to the inventory then with a subscription to Retail with Ronnie. For only $50 a month you are able to receive 4 articles of clothing. The best part is you don't have to commit long term, can cancel at any time and the first month is free! 

Check it out www.RetailwithRonnie.com

Property of The Month

201 East 79th #16I $999,000

JUST LISTED - This Oversized 1 bed with optional 2nd bed has a separate kitchen, formal dining, and east facing living room. With brand new floors this apartment is perfect for the first time buyer looking to have a place to grow into with a new baby or office space. 

Located in prime Lenox Hill this building has gone through a HUGE transformation for the new owners to enjoy.

February 2024

Buyer Incentives For First Time Buyers

On Right now several banks are offering incentives to first time buyers. 

Currently, Citizens Bank has a first-time Buyer Program for eligible buyers, potential for $10,000 towards closing costs + a reduced interest rate. To be eligible you must live in an address that is approved for the program. It doesn't matter where you are buying, yes you read that right - they want to see where you currently live. 

US Bank is offering a similar program and up to $7,000 in closing credit. 

Bankers have mentioned that it really is address by address and they have seen one person approved and another on the same block not approved. 

Let us find out if you are eligible for this free money. We have the right bankers in our network to help you navigate this market. 

Taylor’s Pad

Unless you live under a rock I'm sure you've seen Taylor Swift all over the news after that Chief's super bowl win. So we wanted to spotlight the popstar's legendary NYC pads. 

Out of 7 properties that she owns, she has 3 multimillion dollar homes in our great city. 

1) She bought 2 adjacent penthouses at 155 Franklin Street, converting them into one large duplex that has a total of 10 bedrooms and 10 bathrooms, a billiards room, and an incredible sweeping staircase.

 2) She then purchased a century-old townhouse right next door. The home, equipped with luxury amenities including a home theater, gym, guest suite, and terrace, is estimated to be valued at $18 million.

 3) In early 2018, she paid $9.75 million for an additional three-bedroom, 3,500-square-foot loft on the second floor of the same TriBeCa building, dramatically upping her stake in the super-coveted 155 Franklin Street.

I wonder if she'll ever become an uptown girly? Maybe in the next chapter of her life with Travis. 

Market Report

The luxury market had another great week with over 25 contracts signed over 4 million. 

Supply is still scarce but week over week there was a slight increase. 

Future declines in mortgage rates will likely bring even more new listings onto the market, as sellers grow more comfortable trading in the low rates they secured before or during the pandemic for a rate that’s only slightly higher.

Although buyers are regaining the upper hand, with limited homes on the market, competition for well-priced listings isn’t going away. In NYC, close to one in five (17.4%) homes sold for more than their initial asking price last month.  

(Streeteasy)

Building of The Month

The Frost House

1160 Third Avenue

This month we wanted to spotlight a very special Upper East Side building. Our team has done countless deals in the building and we are very friendly with the board.

From combination units to studios, buyers, sellers, and investors we've worked it all here. Our recent transactions, to name a few - we closed on a B line studio just 3 months ago where we represented the seller. We are currently in contract on a very special combo unit for over a million. We have an amazing opportunity for a one bedroom on the D line currently listed. And last but not least we're working with a seller on a higher floor Junior 4 D line which was recently gut renovated available for $899,999. 

Recently the commercial space attached to the building was sold by the sponsor to Ouri's a kosher marketplace which just FINALLY opened! Check out this new neighborhood gem for fresh bagels, sourdough, great coffee and tons of fresh produce.