How to Price the Priceless Features of a Pre-war Buildings!

How to value the price of priceless features found in pre-war buildings? The construction time span for these iconic buildings is usually defined as 1900 to 1939, but apartments dating back to the 1880s are often included in the prewar category.

Pre-war apartments are known for their spacious layouts, high ceiling and solid construction. In the truly unique residences, you’ll find decorative architectural details, including archways, intricate millwork, ceiling medallions, detailed crown molding wood-paneled libraries, built-in bookcases and wood-burning fireplaces among other things.

Danielle Sevier 6/10/24 Danielle Sevier 6/10/24

Co-op/Condo vs. Townhouse

When buying a home in the city, luxury buyers often choose between a co-op/condo and a townhouse, each with unique benefits. NYC consists of 98% co-ops/condos and only 2% townhouses, influencing decision-making. This blog post will explore the key differences to help you decide. Co-ops and condos offer various amenities and a sense of community. In a co-op, buyers purchase shares in a corporation that owns the building, granting them a lease for their unit. Condo owners own their individual units and share common areas with other owners.

Danielle Sevier 5/10/24 Danielle Sevier 5/10/24

1Q 2024 Manhattan & Brooklyn Market Update!

In the first quarter we saw signs of improvement in both the Manhattan and Brooklyn markets, but the long-awaited interest rate decreases have yet to make their highly anticipated debut. In the first quarter of 2024 buyers started to return to the Manhattan market with a 9% increase in signed contracts from the prior quarter. 63% of all transactions at this time were all cash. The luxury end of the market priced more than $20mm saw a surge of 140% increase in contracts signed, which correlates positively to the level of cash deals done. At the same time, we saw inventory levels reach pre-pandemic levels with 6,000 active listings. We anticipate inventory levels continue to climb with the Spring market. We also saw increased contract figures and inventory levels in Brooklyn in the 1st quarter compared to the 4th quarter. The rise in inventory signals a notable shift in market dynamics and this is further evidenced by a steady climb in price per square foot figures. We’re far off from where we should be, but the numbers indicate that the bottom of the market is behind us.

Danielle Sevier 5/2/24 Danielle Sevier 5/2/24

Is Murray Hill the Next Hot Neighborhood?!

Murray Hill is a Manhattan neighborhood gem hiding in plain sight. I love it for its location + value—it is really easy to get anywhere in Manhattan because of its proximity to Grand Central—the 4/5/6 and 7 trains can transport you uptown, downtown and crosstown in a flash! Grand Central also houses MetroNorth trains in case you need a country get away to Connecticut or Upstate. My favorite transportation in the beloved Second Avenue bus that can get you downtown quickly while you stay above ground. And on beautiful summer days, hop onto the East River ferry to get to Brooklyn in style.

Danielle Sevier 5/2/24 Danielle Sevier 5/2/24

How to Choose a Buyer’s Agent!

You are about to embark on what is likely the biggest purchase you have ever made and one that has probably entailed some serious frugality on your part, to save that 20% downpayment. A consummate professional who is there to protect your interests is an absolute necessity. In order to make sure you have the right person on your side requires some effort on your part.