NYC's real estate market remains strong with the median listing discount for January at 3.7%, down 55% from the same time last year. Furthermore, since July 2021, the city registered an estimated net gain of 6,332 permanent moves compared to the same period in 2019, indicating a gradual return to New York City as the reopening of office buildings, the return of in-person school, and the rebirth of the arts and entertainment have given people reason to call New York City home again (https://tinyurl.com/3yrewkxb). YOUR MARKET QUESTIONS ANSWERED: 1. When the weather warms supply typically increases, however this is not a typical year. Many people who had been considering a move accelerated their timeline during the pandemic and much of the inventory that would typically come on seems to have come on early and already been absorbed. As such, we do not expect a large increase in supply in 2022; especially with signed contracts keeping such a strong pace, up 17% YOY (Source: Urban Digs). 2. Citywide, rents have increased considerably due to the dramatic drop in apartments available, according to Street Easy. The most desirable neighborhoods are up double digits. Flatiron and Soho rents are up 40% and 58% respectively, versus last year. Rents for larger apartments are also pushing upwards as people continue to work from home and schools have reopened. |
Read on to get our MARCH TAKE of: |
212 West 93rd Street
(between Broadway & Amsterdam) |
212W93 features a limited collection of 20 condominium homes designed by architecture firm ODA and built by award-winning builder Landsea Homes. Apartments range in size from a studio to four bedrooms all meticulously designed with fine materials and gracious private outdoor spaces. Nearly every home has a unique layout, and several occupy a full floor, with keyed-entry directly from the elevator. The interiors, designed by GRADE New York, feature oversized wood-clad windows and an open floor plan with ceiling heights up to 10’8”. Each residence also includes Miele washer-dryers, state of the art zoned LG heating & cooling. Prewiring for motorized shades add an extra level of lux and comfort to these beautifully designed homes. The building’s amenities include a: 24-hour attended lobby with cold storage, beautifully landscaped rooftop terrace, fitness studio with The Mirror and Technogym equipment, children’s playroom, pet spa & bike storage area. Private storage is available for purchase. Apartments range in size from 449 SF to 2762 SF and in price from |
The BEST Coffee Shops for Working and More... |
Not ready to go back to the office but need to get out of your apartment? We've got you covered with these coffee shops/bars you won't want to leave. |
Perk Kafe Perk Kafe is a neighborhood cafe with character and charm, serving up coffee from Stumptown Coffee Roasters and free wifi. Other menu items include a variety of all natural, gluten free, and specialty drinks and treats, including Dough Doughnuts, matcha, and cold brew. Plus, they have three convenient locations. 162 E 37th St, 1867 2nd Ave, and 534 E 14th St. |
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This UES coffee shop by day & wine bar by night is located mid-block on First Avenue between 88th and 89th. When 6PM hits, put away your laptop and order a glass of wine with a charcuterie or cheese board. If games are your thing, head over on Tuesday nights from 6-9pm for free trivia and prizes. 1705 First Avenue |
Fotografiska CafeTucked Inside the Fotografiska Museum is the Fotografiska Cafe, intentionally designed to be a destination for sharing ideas, conversation and discourse before, after or independent of experiencing the in-house exhibitions. The Café offers an eclectic mix of coffee house delights. Working late? Grab a glass of wine and head up to the upper floors to preview the latest exhibitions. 281 Park Ave South (21st/22ndst) |
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The Celeb Real Estate Rundown |
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Bon Jovi - 155 West 11th Street $22MMThe music legend just sold his sprawling 3951 square foot condo in Greenwich Village which he purchased in 2017. The luxurious four bedroom, four and a half bath, includes an elevator which opens into a private vestibule that leads into a 40-foot living room. A Juliette balcony overlooks the city bustle, with a large adjoining eat-in kitchen. There are also breathtaking floor-to-ceiling windows and a private terrace. |
A-Rod is back on the Upper West Side. His recent purchase in The Beresford features 3600 square feet, three-bedrooms, and five-and-a-half-bathrooms. Upon entry is an 8.5-foot-tall glass casement door, which leads into the central gallery. The formal dining room is oak-paneled and the bistro-like kitchen has restored original St. Charles cabinetry. The living room features views of Central Park and comes with a wood-burning fireplace.
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John Legend & Chrissy Teigen: 374 Broome Street $18MMLocated in the landmarked, Brewster Carriage House, the two contiguous penthouses span nearly 6,200 square feet of living space. The six bedroom home is listed for $18M and has three gas fireplaces, white oak flooring, skylights, radiant heating flooring in the bathrooms plus a landscaped 300 square foot private roof deck with its own irrigation system and grill. |
Home Buyer Insider Tips: Love the things you can not change! ❤️ |
We can help you navigate these important factors which are often overlooked and under investigated. |
Location, Location, Location
Always visit the street you are looking to live on more than once, on different days, and at varying times of the day, to get a sense of traffic, noise and light. Next, research the the location's proximity to your lifestyle needs such as parks, schools, restaurants, health clubs and more. Finally learn everything you can about the building and the people who work and live there. Talk to the super, doorman and other staff when visiting the building. |
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Sunlight & Views Light and views may not be at the top of your list but it matters for many and it is something that typically can not be changed. Before you buy, evaluate how much light your new home gets and how that might affect your happiness and re-sale. The good news is a site called Localize can help with this. Just search an address and the site will describe the sunlight on every side of the building, throughout the year and the number of hours of maximum sunlight. As far as views, be sure to note what you are looking at from every window. |
Apartment LayoutAs you walk through an apartment, does the flow from room to the next make sense for how you live? Are the bathrooms where you would want them? Are the rooms large enough? Yes, you can renovate. BUT, a renovation comes with additional cost, time and board approval. Before you buy, make sure you LOVE the layout or know the rules of the building for renovations. And, if you plan to renovate, be prepared that the cost tends to be 20% higher and projects tend to take 20% longer than what is quoted. |
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How is the Luxury Market?
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Residential Properties $4M and Above |
Please feel free to reach out for a more in-depth look at neighborhood-specific market trends and data. |
Which Kanbar Kopel Team Listing is your Favorite? |
1 Bed | 1 Bath | $699,000 | In Contract
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3 Bed | 3 Bath | $3,250,000 | In Contract
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2 Bed | 1 Bath | $875,000 | In Contract
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4 Bed | 3.5 Bath | $ 2,795,000 | Sold
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Studio | 1 Bath | $625,000 | Sold
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker. All material is intended for informational
purposes only and is compiled from sources deemed reliable but is subject to
errors, omissions, changes in price, condition, sale, or withdrawal without
notice. No statement is made as to the accuracy of any description or measurements
(including square footage). This is not intended to solicit property already listed.
No financial or legal advice provided. Equal Housing Opportunity.
All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS.
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