Every NYC brokerage firm is being pulled into an antitrust lawsuit right now, including my firm, Brown Harris Stevens. So I cannot comment on that. However, I can talk about what is going on in the housing market. First, our latest inventory report came out. These were my thoughts: Because the absolute number of properties
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Our Deal of the Month Our deal of the month is a three bedroom, three-and-a-half bath apartment at 1289 Lexington Avenue which we just closed. Its last asking price was $5,700,000. Tip of the hat to Robert Levine, a valued member of the Harris Residential Team, for closing it. And congrats to our buyer! I
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Please find this month’s Manhattan Inventory Report (link here). Amid lots of fresh Q3 US economic data as the backdrop, it’s interesting to note that month-over-month, supply spiked dramatically. Specifically, there was an increase of 14% in the number of condominiums, and an increase of 28% in the number cooperative apartments. However, year-over-year, the total number of properties on
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This is the Story of an Off-Market Transaction. But it’s also a question of value. How much is a balcony worth? How much is a view worth? And more curiously: How much are units in a Postwar building discounted when that building sits in a sea of Prewar buildings? We just closed this $2.895mm sale
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This oped was published on November 13, 2023 in at Off The Market. Link here. We have been told that the three most important things in real estate are location, location, and location. But there are two other axioms which arguably supersede, one of which Burnett v National Association of Realtors (NAR), a federal class-action
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Do you know what’s more important than inventory? More important than interest rates? More important than buyer behavior, seller behavior, or the latest article in the New York Times? It’s finding the right home for you. Finding a home that you love. Finding a home that is the foundation for everything you want to do.
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Conventional wisdom would have you think the following: What did we see when we sold this one bedroom property at 70 East 10th Street? How do you explain the difference in our seller’s experience? First, let me back up. In May 2023, we brought a gorgeous one bedroom to market in Greenwich Village. Although it had
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I recently assembled a panel that included Tressa “Melora” Love from Wells Fargo (Mortgage Expert), Gregory Heym of Terra Holdings (Chief Economist of Brown Harris Stevens), and Noah Rosenblatt of Urban Digs (Founder of this incredible real estate data website). The question I posed for the Webinar was: “What Happens When Mortgage Rates Begin To
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Would you rather buy now, when the stock market is up, you’re feeling good about your portfolio and assets, and mortgage rates are high? Or would you rather buy later, when rates are down, but your portfolio could be also- and everyone is screaming about the sky falling down? I have no crystal ball. And
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We’re pleased to share this month’s INV: The Manhattan Inventory Report with you. The headline: Property supply, as we measure it, has fallen month over month. But there’s an important caveat- our metric of “months of inventory” also includes the pace of sales in its calculation. So, despite there being lower supply, the overall “months of inventory”
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