Category: SoHo

Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today?

Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today? Rise in local currency cost to a foreign buyer for $2.5M NY property, from 2014 to 2016 based solely on currency value fluctuation

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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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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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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Tony Sargent of CORE is Featured on Tonight’s Episode | HGTV’s Selling New York – Thurs Feb 28th – 6:30PM EST/PST

Tony Sargent of CORE is Featured on Tonight’s Episode | HGTV’s Selling New York – Thurs Feb 28th – 6:30PM EST/PST Selling New York Logo courtesy of HGTV

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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New York After Hurricane Sandy – Videos, Photos, Tenant Advice, Where to Donate and Emergency Contact Information

New York After Hurricane Sandy – Videos, Photos, Tenant Advice, Where to Donate and Emergency Contact Information Aerial View of New York During Sandy's Blackout - Photo Credit: Iwan Baan for New York Magazine (cropped)

As Hurricane Sandy battered Manhattan I nervously watched from my 12th floor West Village Co-op while simultaneously monitoring Facebook posts by friends and acquaintances. On the 42nd floor of a No-Mad condo a friend posted a hair-raising 10-sec video of his overhead lamps swinging wildly from right to left as though he was on a ship in a storm. “What are you still doing there?” a concerned friend asked.  Where would he go, I thought? Other friends have had to leave Read more…

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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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Monday Market Video: Average Manhattan Home Now Costs $2M

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