Category: NoHo

In working with several clients of mine, I’ve become intimately familiar with the $10M plus market place in Manhattan. I predict the $10M plus market place will offer buyers great opportunities through 2019.

Why? In 2012 developers started building luxury buildings; the high cost of land and development somewhat forced developers’ hand into the luxe market to make numbers work. An unprecedented re-sale at 15 Central Park West topped $80 million started the ultra-luxury race at One57 and in Manhattan everyone chased the money. The market took off and developers followed and the funnel of buyers seemed unending.

20/20 hindsight shows us that the top of the market was early 2016. Cracks started though in 2014 when oil prices dropped, the US dollar strengthened, Manhattan’s prices shot through the roof and BRIC (Brazil, Russia, India and China) growth faltered. Looking for better returns global buyers turned to other markets including San Francisco and the Los Angeles area. This market continues to adjust here.

Today (Jan 28, 2019) in Manhattan there are 600+/- active homes priced above $10 Million:
8% of all active listings on the market. As a comparison in 2014, $10M+ sales represented only 1-2% of Manhattan properties. We have a high-inventory issue.

Newly signed $10 Million+ contracts currently average approximately 19 per month, meaning there’s a 30-month supply of $10 million+ homes in Manhattan. Uber-luxe homes which sold in Jan 2019, were discounted from 7-30% off their last asks.

As a smart investor or buyers now is an opportune time to make your move on Manhattan. Secure a stunning property at a fantastic price. Interested? Click here to connect with me. Let’s talk

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Sunday is “Open House” day in New York real estate. Here’s a list of some gorgeous downtown properties in Manhattan (Scroll Down over My Image & Click onto each listing to view it). From Chelsea and Flatiron to Soho and Tribeca, if you’re looking for a 2-3 Bedroom Condo, Coop or Loft home, check these listings out. Open Houses are happening today. For more information and to receive answers to any of your questions about buying or selling in New York, contact me at Tony.sargent@compass.com. I’ve had 18+ years of experience working with clients in Manhattan and Brooklyn. Happy to share my knowledge with you!

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After 18+ years in New York luxury real estate – having worked at both one of the largest firms for my first 11 years and a boutique luxury firm for 7, I felt the need to grow and be inspired again. Looking forward to the future, I felt that as we move forward in the world, technology will be playing a bigger part in the real estate industry. Real estate is always going to be a person to person business, but how you search for your home and how we are able to put technology to work for you, in my mind will make all the difference in your success.

Here’s what Compass is all about…for you. If you have any questions, reach out. No obligations. I’m happy to answer any of your real estate questions. Connected from London to San Francisco, Hong Kong to Dubai, anywhere you go, I’m here to help advise you. – Tony Sargent, NYC

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Much has been written about Chinese and Russians dropping $30+ million on Manhattan luxury condominiums since 2012. As a result, even sellers of condos priced between $1-4 million ask: “Where are the foreign buyers for my home? What will you do to attract them?”

While huge amounts of foreign currency is being spent on US real estate, not every property type is benefiting from it or is appealing to an international buyer. Generally, foreign buyers who Read more…

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One of the most exclusive streets in Noho, Bond Street is receiving a few new luxury neighbors. Currently under construction is Annabelle Selldorf’s 10 Bond Street, which is selling well and receiving praise for its design. Prices start at $4.55 Million (Exclusive is with Corcoran Sunshine). BuzzBuzzHome wrote that 31 Bond Street, a six story cast-iron beauty built in the 1880’s which sold in late 2013 in an off-market deal to Josh Gurwitz’s Good Properties, has just filed its plans for residential conversion; an additional story will be added to the building and it will of course house a trio of luxurious apartments and services to match.

Over the last 20 years Noho, (generally the area between Houston and 8th Street, Broadway and Third Avenue) has evolved into one of the most exclusive residential and bohemian-chic areas of Manhattan. Read more…

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In the last weeks both Jonathan Miller (on Curbed) and Urban Digs reported and provided data to support what buyers and sellers alike are finding in the Manhattan luxury condo and luxury loft market; inventory is at seven-year lows and competition among buyers for new apartments that hit the market is super high. Multiple bids are back, especially in the $2-5 Million price point, and buyers in areas like Tribeca, Greenwich Village, the West Village and on the Upper West Side are feeling the heat. While the entry level market is very competitive downtown, pricing still needs to be on-target otherwise buyers are moving onto the next best property.

Check out these graphs created by Jonathan of Miller Samuel and Noah of Urban Digs. They say a picture is worth a thousand words. These graphs take things from ‘broker-speak’ to reality.

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I’m delighted to share that today, Thursday, February 28th at 6:30pm EST, HGTV’s Selling New York will air a new episode featuring my clients, an international couple, facing a true New York real estate challenge. The couple and their 3-year old daughter welcome twin boys into the family. Sarah and her husband quickly realize their 2-bedroom Bowery condo is too small. Prices on 3-bedroom lofts are rising fast, but they must sell their current home to be able to buy. Read more…

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