An apt characterization of the Manhattan residential real estate market during the first half of 2019 is that it was challenging for all involved: buyers struggled with making an offer because of market uncertainty, sellers struggled with current market value because of downward price pressure and brokers struggled to navigate between them. While uncertainty and concerns have been present for some time, during the last 6-8 months anxiety levels have increased due to the potential trade wars and their impact on the U.S. economy. As such, discussion about the possibility of an economic recession have surfaced. Download the entire Newsletter below. Newsletter-Fall-2019

When analyzing Manhattan real estate, each large area (Downtown, Midtown, and Upper West and East Sides) must be broken down into smaller segments. Nowhere else are the market segments as distinctive as in the Downtown real estate market. Read more about the Tribeca Real Estate Market in our First Edition Tribeca Newsletter. Newsletter-Tribeca-Spring-Summer-2019

Last year was challenging for the Manhattan real estate market. Buyers and sellers witnessed a significant market reset not seen since Lehman failed in the fall of 2008. In fact, the number of sales declined by their greatest percentage since that financial crisis, and inventory continued to increase. RSD-WEA Spring 2019

It is important to review the NYC residential real estate market over the past year to appreciate where we are now and what may lie ahead. Last year (2018), the market was exceptionally difficult because it was a significant transitional year: in January, prices began to go down while sellers and the real estate community remained in denial that this was happening. But it wasn’t until the end of the first quarter that the press began to write about the market’s decline. Read more in our Spring 2019 Newsletter. Also in this issue:

• Current Market Review
• Neighborhood Markets
• The Art of Staging
• Recent Sales Sampling
• On the Market

Newsletter-Spring-2019

The New York City residential real estate market had been slowly weakening since its peak in 2014 – 2015. The downward trend increased dramatically following the tax reform bill, which went into effect in January. The slowdown hit high-end properties first, followed by the middlemarket and then the lower end of the market. The current prices are lower than in the peak of 2014-2015; in some cases, prices are down by as much as 20-25%. Also in this issue:

• Current Market Review
• Advice for Buyers and Sellers
• Driving Trends
• Data-Based Snapshot
• New Submarket Series

  Fall 2018 Newsletter

For some time now the economy has been very strong in so many sectors of the market, coupled with a record low unemployment rate. Due to these facts, it has been hard for many sellers to believe the Manhattan residential real estate market is exceptionally weak, particularly since the beginning of the year. The residential real estate market on Central Park West has slowed as well. Last year (2017) was a slower market in general, but there was an uptick in sales on Central Park West, particularly in the co-op market as we approached the end of the year. As is the norm in this area, properties on high floors with direct Park views generate higher prices, but this is not always the case if sellers are not realistic on pricing from the outset. These apartments will always be a good investment, but buyers are more cautious and tentative in this market. Central Park West Summer 2018

Each new year, I provide an analysis of the Manhattan residential real estate market in my Spring Newsletter that was just released including an overview of the past 12 months in residential sales, as well as my thoughts on what to expect the first 6 months of 2018. The newsletter also includes:

• Valuable Advice for Both Buyers & Sellers in the Current Market
• Neighborhood Market Snapshots
• Renovating for Resale: Kitchen Design Pro-Tips
• Preparation Tips for a Successful Estate Sale
• Landmark West interviews the UWS’s First Female Agent
• What’s on the Market

Download the Spring 2018 Newsletter

Interested in the Park Avenue market? Check out our latest Park Avenue newsletter that analyzes the residential real estate market in this beautiful uptown neighborhood. Focusing on resale sales from 46th Street to 96th Street, this review covers activity in the first three quarters of this year and compares to the same time period in 2016 and 2015. Park Avenue Newsletter 2017

After the Presidential Election in November 2016, the Dow and other economic indicators improved markedly. Those watching their investments in the stock market as well as other stocks and bonds greatly benefitted from the strong economy, although a significant number maintained a cautious attitude, espousing their concern that these strong market trends would not last. It was presumed that the surge in the Dow was triggered by the promise of lower taxes and relief from regulations enacted by the Obama administration; eliminating or reducing regulations was seen as an important step to increase profitability in many business sectors. Click here to download PDF