212-937-7011

Sub-Market Snapshot: Upper West Side 6 Room Co-Ops

Sub-Market Snapshot: Upper West Side 6 Room Co-Ops

This market is less active than the 5-room co-ops. Currently there are 15 contracts signed with an average of 104 days on market which means there is 1 in contract to almost 3 active listings and average price is down from last year by 10%. There are more sales happening but at lower prices. It is a good time to buy in this category!

Read More »

Sub-Market Snapshot: Upper West Side 5 Room Co-Ops

Sub-Market Snapshot: Upper West Side 5 Room Co-Ops

In the first of our sub-market series, we review the 5 room co-op market on the Upper West Side where there are 41 current active listings and 20 pending contracts. This reveals a volatility index of 2 (where supply is 2 times the number of pending sales). This lower index shows a strengthening market. This is certainly a good time of year to purchase a property this size, as interest rates are still relatively low and sellers either have come down in price or have shown increased negotiability in the late summer months.

In terms of closed sales over the last 3...

Read More »

Proper Pricing in the Current Market

Establishing the right price to list a property in the current market is challenging. Data has declined due to lower sales volume and prices have come down in most market segments. Typically we analyze comparable sales activity over the last six months, however this is no longer an accurate reflection of the market. Properties that closed six months ago reflect the market over nine months ago when they went into contract and that was a different world. I recently studied a particular market segment that I had analyzed only three months prior and I was astonished at my recent findings....

Read More »

Market Report: February 2018

Market Report: February 2018

Given the steep drop in the stock market, buyers as well as sellers are asking me if this is the right market to buy or sell. For now, I will address the sale side.  For those considering selling, this may be one of the better times for the foreseeable future. I say so not because I am a broker and obviously I can benefit from sales, but because of many other factors that bear directly on the market, providing sellers (and buyers) the opportunity to make deals that are mutually beneficial.

To begin with, the state of the stock market does...

Read More »

BE AN EXPERT BUYER: International Buyers in the Big Apple

International buyers have always been a part of the NYC residential real estate market.  Each year there are waves of buyers from different parts of the world.  Foreign investment in the US residential markets – especially in NYC – occurs when certain market and financial conditions align.  Foreign buyers invest when the dollar is weak, as it is cheaper for them to buy under such advantageous conditions.  Additionally, when they experience economic instability in their own country or other desirable cities like London or Paris , foreign buyers focus on residential property in New York City, because in any case...

Read More »