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January 25, 2020

While prices and sales volume declined again in the final quarter of 2019, Q4 actually saw the lowest rate of decline since the fall of 2017. An uptick in activity in the last month of the year -- and another drop in interest rates at the start of the year -- hopefully leads to further stabilization in the first half of 2020. Our analysis is below, along with links to Compass’s Q4 Market reports for even more data and details.

MANHATTAN

A “wait and see” approach by Manhattan buyers, coupled with anxious seller...

January 10, 2020

New development is a category all its own in NYC real estate and includes both ground-up new construction and pre-war conversions (essentially new construction inside of a pre-war building shell).  Everyone knows there is a cachet (and price premium) to buying brand new.  What are the pros and cons of buying in a new development?

Pros of New Development

1. Floor Plans Designed for Modern Living: Naturally, new developments are designed with today’s buyer in mind: en suite master bathrooms, double vanities...

November 8, 2019


Many buyers are intimidated at the prospect of competing against an all-cash buyer for a hot property -- but does cash always win?  

First, to address a common misconception: most buyers, and especially those vying for co-ops below $3M, are relying on financing to some extent, which means a majority of active buyers are submitting offers contingent on obtaining that financing.  So as long as you have enough funds to cover the minimum down payment amount (typically 20%) along with required closing costs/reser...

October 26, 2019

Just when you think you’ve got your place decorated, you are faced with the greatest design challenge of all: baby’s arrival. Making a home baby-friendly is not just about installing cabinet locks and wall anchors. It also means reassessing your existing furniture choices (prioritizing safety) while incorporating your new baby stuff in a way that doesn’t make your living room feel like the inside of a preschool. 

Of course, I’ve made a few unstylish choices for the sake of our comfort or convenience (hello: j...

October 17, 2019

Carnegie Hill is a small section of the Upper East Side with a history of rich culture, architecture, and residents. Home to Museum mile, world-renowned museums such as the MET and the Guggenheim set the standard for the luxurious history and feel of the 12 x 4 block neighborhood. Named after the mansion that Andrew Carnegie built on 91st Street and 5th Avenue (which is now the Cooper Hewitt Museum), other wealthy residents followed suit and their lifestyle survives through the apartments available in the ar...

October 4, 2019

Talk about a possible recession has been swirling for months, and the market has taken a hit in anticipation.  While no one has a crystal ball, the consensus is that we are probably due for a recession, but it is unlikely to be as catastrophic as 2008-09.  While no one can say exactly when the recession will hit (many speculate it will be around election time), the NYC housing market has been trending downward due to tax law changes that have limited certain homeowner deductions as well as hesitation on the...

September 19, 2019

Park Slope is an idyllic Brooklyn neighborhood with tree-lined streets, beautifully manicured stoops, and more brownstones than the eye can see.  Located directly next to Prospect Park, Park Slope finds the perfect balance between city life and residential life.  The neighborhood is also full of local gems for dining, drinking, and listening to live music. Check out our favorite spots in Park Slope that are well worth a visit. 

September 9, 2019

What do you think we can get?

Whenever I meet with prospective sellers, they’re always anxious to get to the big question: “So what do you think we can get?”  While location and square footage are obvious factors, similarly-sized apartments in the same area can sell for vastly different prices, and it often comes down to a handful of both physical and intangible factors.  Take a look at the top five physical attributes that affect the value of a property:

Part 1: The Physical Space

1.) Layout 

Almost as imp...

August 16, 2019

It’s a tale as old as time; you find an apartment you love, you make an offer, and … so did 5 other people.  Typically, when there are multiple competitive offers, rather than negotiate with all parties simultaneously, which is logistically difficult and can seem unfair, sellers will call for “highest and best” offers, not-so affectionately known as a bidding war.  For certain types of apartments, a bidding war is almost unavoidable.  For buyers in the market for these sorts of apartments (like a two-bedroom...

August 16, 2019

Ditmas Park is like something out of a Norman Rockwell dream with the best parts of suburbia smack in the middle of bustling Brooklyn.  Characterized by large Victorian homes with porches and yards and a true community feel, there has been a recent influx of hot restaurants and other amenities in this historic neighborhood. 


 

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The Isil Yildiz Team

 

Compass 

110 5th Avenue

New York, NY 10011

(P) 985-714-4470

isil@compass.com

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.