Category: West Village

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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In the face Manhattan’s rapidly evolving real estate micro markets, deciding on a listing price for your Chelsea or West Village luxury home requires careful consideration.

Deciding on Listing Price: Considerations for Your Listing Broker

When interviewing a listing broker, nearly every conversation boils down to this question: “What price should I list my property at?”

If your potential broker follows up with a record listing suggestion, dig deeper into the reasoning behind this suggested listing price and the broker’s track record. I recommend asking the following five questions: Read more…

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Has ultra-luxury development gone too far? Cary Tamarkin’s 10 Sullivan development announced that it is splitting its 8,000 Square foot Soho Penthouse, following CIM Group and Macklowe Properties late 2015 decision to do the same to some larger unsold units at the ultra-luxury 432 Park Avenue. Brokers have begun to quietly wonder if we’ve hit the peak of luxury in price point and market saturation.

Starting in 2013, strong demand for downtown luxury new developments combined with extremely low re-sale inventory caused re-sale values to skyrocket. The price-per-square-foot ceiling rose on all sales as local, domestic and international buyers snapped up properties at a frenetic pace.

Lately though, I’ve been noticing Read more…

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August may be over, but my team and I are hanging onto summer a little bit longer with these New York warm-weather favorites. Which are on your must-do list?

1. Rooftop yoga at the James: The rooftop of the James hotel in Soho may serve as a hyper-trendy bar by night, but come morning, the roof deck (and its jaw-dropping city-scape views) plays host to some of the city’s top yoga instructors. These pros can be booked for private lessons, and help aspiring yogis perfect their downward dogs and handstands on Thursday morning group classes.

2. US Open: Whether it’s Federer vs. Nadal or Wiliams vs. Williams, tennis devotees like Anna Wintour, Heidi Klum, and Mary-Kate Olson flock to the famed Flushing courts to see the crème de la crème of matches up close in person at the annual US Open.

3. Drinks in the clouds: The city offers an astonishing array of drop-dead gorgeous rooftop bars, each with its own enchanting ambiance. The Press Lounge serves top-notch cocktails to a lively and fashionable crowd; the roof bar of Gramercy Park Hotel is famously secluded and sophisticated; and the Metropolitan Museum of Art installs a blockbuster exhibition on its roof each summer, which visitors can enjoy all the more with a glass of champagne.

4. Lobster roll at Mary’s Fish Camp: The best lobster roll this side of Nantucket can be found at Mary’s Fish Camp in the charming West Village. In a room reminiscent of its yacht clubs, Mary’s also serves oysters fresh from Cape Cod, and is the next best thing to sitting on the dock and the watching the catch come in for the day.

5. Picnics in the Park: No matter how stressful life gets, nothing a quiet walk through Central Park’s North Woods can’t fix. Skip the crowds flocking Sheep Meadow, and take a quite stroll through this peaceful escape. Make it a picnic with baguette, fruit, and cheese snapped up from famed Upper East Side eatery Zabars.

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