The Right Move
Owning property in New York City isn’t right for everyone – It may not be practical, feasible or viable. Most people in New York City rent their homes, which makes perfect sense for many, and owning simply doesn’t for a variety of reasons.
As real estate advisors, we are often asked, “How’s the market?” The question comes at parties, dinners, doctor appointments. It’s a layered question, often from the position of thinking things probably aren’t so good out there. New York City’s real estate market is far too complex to generalize. Neighborhoods, boroughs, price points, sectors and products vary – often widely – in how they perform. New York City’s market is a market made of many markets. Generalizing is over-generalizing.
Lately, we’ve been confronted with not just questions on how the market is doing but navigating through reasons that would-be buyers and sellers are holding to that they feel are personal justifications to not proceed with buying or selling, which they say they ultimately want to do. The mayoral race, tariffs, stock market volatility, political uncertainty are among the variety of reasons. They are waiting to see how things turn out.
The reality is there is always a reason to not move forward, and there’s always another reason around the corner. The most practical thing to do right now is to assess the current situation in whichever sector of the market that buyer or seller is considering. Maybe now isn’t the right time. But making decisions and conclusions from speculation and over-generalizing isn’t a sensible approach.
Memories can be short. We’ve navigated through recessions, super storms and a pandemic. Not long ago, some said New York City was done for. We knew that was wrong, and the city proved us right. Our real estate market has been historically incredibly resilient.
If you are considering buying or selling, or both, sit down with an experienced advisor who you can trust to cut through the noise and make sensible decisions based on your individual situation, facts on your particular area of the market and a logical approach to what’s right for you.
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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.
Upper West Side / Manhattan
Co-op
2 Beds / 2 Baths
$1,399,000
Hell's Kitchen / Manhattan
Condo
1 Bed / 1 Bath
$840,000
West Village / Manhattan
Condo
2 Beds / 2 Baths
$3,750,000
Flatiron District / Manhattan
Condo
2 Beds / 3 Baths
$3,699,000
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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:
63rd Annual New York Film Festival
Check out this year's cinematic line up presented by Film at Lincoln Center.
Now through October 13th.
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