Tag: Tribeca

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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We are excited to announce the publication and release of the premier issue of The Sargent Report: Tribeca. It has been designed to provide Tribeca loft owners and you with a time-efficient but in-depth review of the Tribeca luxury real estate market. Including a summary of sales and market activity, details of future new developments and the most recent top condo sales, we hope you will find it informational and of value. Manhattan luxury real estate is moving at a very different pace than the entry-level, and it is our vision to provide residents and buyers of Tribeca high-end condominiums with the best possible advice, analysis, predictions and insight to make confident real estate decisions.

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Photo: Tobias Hutzler via T&L

I just came across this great article written by Kate Betts for Travel & Leisure magazine. It’s about touring New York’s most dynamic neighborhoods and experiencing the change over time. Gain insight into how neighborhoods like Tribeca, Williamsburg and Harlem have truly changed since the 1980′s and even the 1990′s moving from the fringe to becoming ‘established’ with such long-time Tribeca restaurants Nobu being joined by celebrated chef Andrew Carmellini’s Locanda Verde in Robert DeNiro’s hotel at 379 Greenwich St.  Read more…

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In New York luxury real estate, strong demand in downtown Manhattan for Tribeca’s 3 and 4-bedroom luxury lofts and condos resulted in prime properties going to contract in under 45 days. From mid-May to July, 3-bedroom inventory dropped 47% to only 29 units resulting in bidding wars and record prices for some properties.

Why is Tribeca so hot now? More families are choosing to stay in Manhattan and are looking for large spaces which are found in the luxury 3-4 bedroom lofts of Tribeca.  Add PS 234 (a great public school) and the Hudson River Park and it’s ever increasing amenities and luxury lifestyle.

If you had invested in a Tribeca 4-bedroom loft in 2000 it would have cost you Read more…

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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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Downtown 3-bedroom properties that have gone to contract since December 20th, 2011, have done so in approximately 45 days after coming on the market, according to a quick (and unscientific) study I did today.

It validates what I and other brokers are feeling in the Downtown 3-bedroom market right now. Buyer interest, appointments and open house visits are up. The best inventory is moving quickly and even some properties which are not considered ‘the best’ are selling if their price is reflective of condition.

Areas like Nolita, Bowery, Tribeca and Soho continue to see growing interest from buyers who need space and wish to live in vibrant neighborhoods. Thirty years ago there was a reason to leave the city – safety, school, neighbhorhood. Today Manhattan offers all of that and more. Ask anyone who’s got two or three children under seven in Manhattan. If they can figure out how to make it work numbers and space wise, they’d rather stay here. Perhaps because it provides a more dynamic lifestyle for both parents and children than the suburbs? Your call. But I see demand for 3 and 4 bedrooms remaining solid right now.

Even the larger two bedroom market is seeing a bump. A new loft I listed at 195 Bowery in Nolita/Lower East Side had twenty people at its first open house.

If you have any questions on the Manhattan market or are looking to make a move, feel free to contact me.

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Walking in Tribeca today on N. Moore Street, I noticed this scene outside the Montessori School and it made me smile. Then I thought, is this a big reason why 3-bedroom Tribeca lofts have been in such demand for the last 18 months?

In part, yes. To understand Tribeca inventory we need to go back to the late 1990s when a lot of Tribeca lofts were first being converted en mass for residential use. At that time, many clients (and developers) assumed that they would stay in a loft for 4-5 years and then move on to the suburbs. Developers created big apartments (space was a way of attracting people downtown from uptown, as very few residential services existed in Tribeca at the time); however as there wasn’t a huge demand for 3-bedrooms, a lot of buildings were converted in such a way that 2-Bedroom, 2,000 square foot spaces were common. Read more…

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