Category: Nolita

Why Compass? Our Mission.

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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Art Rules by Bill Cunningham – The New York Times

Do you love art and people watching? Before it’s gone schedule a couple hours Sunday, March 6th to make your way to The Art Show along with several of the other shows happening (PULSE Contemporary Art Show in Chelsea on 18th Street).

While many lament that the art scene and artists have disappeared from New York (high rents and gentrification), I love these art fairs and the Thursday night Chelsea Art District openings as much for the art as the fantastic people watching! It’s also a great reminder that art and creativity is a huge part what makes New York amazing.

If you are thinking of buying art, choose wisely and with your heart. Art makes a home come alive. I find that when staging our client’s homes, significant art and warm accessories truly add the personality to a home.

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Fall’s Most Buzzed About Real Estate Conversions

Empire Stores DUMBO Rendering

Rendering: Midtown Equities’ retail and office conversion Empire Stores located in DUMBO in the Brooklyn Bridge;

With little space to build new properties in hyper-dense New York City, it’s no surprise that developers are eager to give makeovers to pre-existing buildings not living up to their potential. Whether they are being redone with an eye towards retail or commercial occupation, there are a slew of exciting renovations slated to open in the next few months all around the city. Check out a few of the most buzzed about below:

  1. Dumbo’s Empire Stores: Dumbo has long been one of Brooklyn’s chicest neighborhoods, with residents like style-setter Olivia Palermo upping the style factor on this quiet waterfront oasis of calm. The neighborhood is about to get a fresh injection of fashion and fun with the 19th century warehouse Empire Stores opening the end of this year. Expect stunning views over the city, and
    Read more…

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Bond Street and the Allure of Noho’s Luxury Real Estate

Bond Street and the Allure of Noho’s Luxury Real Estate Noho Views | Photos by Tony Sargent (C) 2014

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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Manhattan Real Estate Inventory Down | Signed Contracts Up

Manhattan Real Estate Inventory Down | Signed Contracts Up Snow over Downtown Manhattan | Photo by Tony Sargent (C) 2013

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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Wall Street Journal: Multiple Bids Stunning Homebuyers in New York, Miami and Nationwide

Wall Street Journal: Multiple Bids Stunning Homebuyers in New York, Miami and Nationwide Puck Building, New York - Tony Sargent (C) 2012

The Wall Street Journal reported that multiple bids are stunning condo apartment buyers from New York to Miami and homebuyers in California. A lack of inventory compared to demand has been especially evident in New York luxury real estate for over a year. Now multiple bids are occurring on entry-level properties both in Manhattan and in other areas of the country. 3 years ago Miami’s condo market was languishing and its huge inventory remained unsold. Today, between local and foreign investors (namely Brazilian) there is only a 4.1 month supply (34% decline in inventory – see chart below).

In Manhattan while demand for the super-luxury market ($5+ million) has slowed slightly compared to a year ago, fast-increasing rents and low interest rates have lead to the highest level of Read more…

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What is Real Estate?

What is Real Estate?

What is real estate? As I leave my office late tonight, I look at the list on my desk-wall of clients who want to buy or sell. They aren’t numbers to me. They are people: fathers, mothers, children, partners. All with a dream of owning a home or having more space. A place to create memories, to celebrate anniversaries, to laugh, to cry, to perhaps disagree and then come back together. To watch teeth fall and then the 1st sideburns grow.

This is why I do what I do. To help people make their dreams come true, as smoothly as I can. Nothing feels better than to seem them smile on closing day…and five years later. – By Tony Sargent

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Buying, Selling, Renting

Market Update

Quick Market Update – NYC Luxury Real Estate

Posted on March 15, 2018

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