Category: Nolita

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.

Leave a Comment »

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…

Leave a Comment »

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

Leave a Comment »

In New York, at the corner of Bowery and East Houston, the infamous Bowery Graffiti Wall (where Keith Haring put up the first mural 30 years ago) is currently host to LA based street-artist Retna. His mural, along the four story south-facing wall, served today as the perfect backdrop for this photographer and his model. Nowhere in Manhattan real estate can you feel the intimate mix of luxury condominiums along side such a vibrant culture of music, design and art, as here at the crossroads of Noho, Nolita, the East Village and the Lower East Side.

From the New Museum and The Bowery Hotel on the Bowery to the nearby Elizabeth and Mott Streets, you’ll find a delightful mix of boutique fashion and furniture retailers like Area I.D. and restaurants such as Emporio. The eclectic blocks are punctuated by some other infamous graffiti walls as is found at Jay Meisel’s 190 Bowery. Just off the Bowery on Bond Street you’ll find Ian Schrager’s super-luxury condo, 40 Bond designed by Herzog & De Meuron.

Expect to see more photos and posts on this dynamic area in the coming weeks.

Leave a Comment »