Contact us to find out whether your needs and goals align with current market leverage, why co-ops cost on average 51.7% less than condos, or for additional insights on the Manhattan residential real estate market.

4Q22 Manhattan Market Report | Normalization

NYC remains true and continues to rise out of the pandemic ashes.

There was continued strong performance in the first three months of 2022 following a record-breaking 2021, with supply/ pending sales still below/above historical averages.

There was continued strong performance in the first three months of 2022 following a record-breaking 2021, with supply/ pending sales still below/above historical averages.

There are a number of different levers that affect risks and yields in an investment. It is a matter of prioritizing which is most important to you.

Timing the market when purchasing real estate is a multifaceted consideration as there are multiple levers that often move in opposite directions. If pricing is at a high, often interest rates are low, and depending on loan-to-value/percentage financing, higher rates may have more of a negative impact than the positive impact of lower prices.

New developments sell at a (sometimes significant) premium to resale. If you absolutely have to have something brand-new, new development is the only option. If you value ease of execution, new development also wins: you sign a contract, you write a check and you get a key.

Most condominium buildings set a minimum term length for rentals of six months or more; one-year minimum terms are most prevalent. This is intended to avoid the transient feeling of a hotel within a residential building, and to limit the wear and tear associated with moves.

Virtually every NYC seller has an agent representing their interests. It is a smart decision as a buyer to have someone representing yours. The top reasons you benefit from this relationship are:

We consider there to be three pillars of successfully maximizing value for real estate: expert marketing and presentation, comprehensive and maximum exposure, and strategic pricing. One can sell a property without all three of these implemented; however, maximizing sales price requires all three to be expertly executed.

After things were seemingly back to normal thanks to the vaccines, new COVID variants brought a fresh wave of uncertainty. Nevertheless, once again New York City has proved its resilience, and Manhattan real estate is breaking records. Despite a 16-year high in new listings, supply was overpowered by demand not seen in over 30 years.

In this episode Julia and Jere discuss how Julia got into the business, her first deal and one of her biggest lessons, big career turning point, our team’s structure, systems for solutions, habits and much more. Follow Jere’s podcast here and please enjoy the episode below!

Aside from 2020, the third quarter brought more new listings than any Q3 in 14 years. Normally this would benefit buyers; however, signed contracts shattered 30-year records, shifting leverage to sellers.