The Market Report: April 2024

Sorting Through the Noise

Sensationalism sells. The real estate industry has been a hotbed over the past 10-15 years for many opportunists to line their pockets well. Real estate “reality” shows have distorted the industry and true professional advisors, and more importantly the understanding and expectation of the consumer.

The manufactured real estate agent persona of dramatic antics, decadent lifestyles, infighting and pettiness and a very hazy perspective on what a successful and valuable agent actually does have eroded the reputation and dedication of the valuable advisor that every buyer or seller should expect. The pockets of people within the entertainment industry and a loud small group of real estate actors have confused and tarnished consumer sentiment

And now currently the real estate sections of many news sources are capitalizing on the sensationalism that sells. Misinformation, irresponsible headlines, over-inflated comments of industry shake-ups and changes make for great clickbait. More pockets get lined in the name of and at the expense of consumer protection.

Provide and maintain a strong fiduciary responsibility and loyalty to the client. That encompasses advocating on their behalf as well as delivering truth and facts, good and bad.

 

Assess and determine current market value of properties. New York City, particularly, is exceptionally subtle in the ways property values can be highly effected. Evaluating property means being a committed student to the industry.

 

Provide micro and macro real estate market knowledge. Real estate decisions should be made with a big-picture perspective along with the idiosyncrasies and intimate knowledge that makes property values nuanced.

 

Evaluate, assess and focus on the unique circumstances of an individual’s buying or selling needs, based on the particulars of those needs and objectives.

 

Offer insight on, recommend and skillfully negotiate transaction terms. Most consumers know some but a limited scope of what can and should be negotiated.

 

Assess buyers’ financial feasibility to successfully complete a transaction – from achieving lending to coop board approval. An agent with strong financial knowledge can properly position buyers and properly advise sellers on the best and likeliest buyer to ultimately perform.

 

Introduce valuable and reliable service providers, from attorneys and lenders, to inspectors, contractors, systems specialists, architects and designers.

 

Successfully navigate the labyrinth of coop and condo boards, managing agents, law firms and lenders.

 

Inform, educate and communicate, when and how needed, with clients, customers and all parties involved in the process.

 

Remain intimately abreast of industry knowledge – from architectural innovations, design trends and zoning changes to shifts in lending guidelines and products.

 

Offer the rewards of a fostered outstanding reputation with clients and within the industry. An agent’s strong positive industry reputation and relationships will deliver results in ways the consumer rarely knows.

 

Real estate transactions are far more complex than buying a pair of new shoes or a new car. Knowing the million ways consumers can be misguided and transactions can go wrong, for us, underscores the importance of knowing why buyers and sellers value from proper real estate advisors. Knowing we’ve guided and helped in ways the client never new possible is fulfilling as professionals, and that should be the consumer’s expectation.

 

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The Numbers

Manhattan Market Activity

Highlighting our market's past 30 days.

Brooklyn Market Activity

Highlighting our market's past 30 days.

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The Properties

Our month's featured listings on the market.

640 Ditmas Avenue

Kensington / Brooklyn

Condo Development

Various Layouts 1, 2 & 3 Beds

Various Price Points

69 Murray Street, 2

TriBeCa / Manhattan

Co-op

2 Beds / 2 Baths

$3,100,000

211 Central Park West, 3BD

Upper West Side / Manhattan

Co-op

2 Beds / 2 Baths

$4,250,000

102 Vanderbilt Avenue

Fort Greene / Brooklyn

Townhouse

5 Beds / 3 Baths

$2,850,000

 

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The Pick

From the cool and eccentric to reserved and irreverent -

Our month’s pick of what's happening in New York City.

 

 If you haven't already, you should:

Luna Park in Coney Island

Enjoy a day of rides, games, food and

the ocean view.

 

Now open through October.