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June 17, 2020

With NYC poised to enter Phase Two of the NY State reopening plan on Monday, June 22, real estate showings and other activity will resume. We anticipate a surge in new listings in the next few weeks and will monitor the market closely for pricing trends. In the meantime, here is an update on the first half of June:

Negotiability


The most recent Compass negotiability survey, which tracked offers made in Manhattan and Brooklyn from May 16th to June 15, was fairly consistent with data from earlier in the month...

May 19, 2020

As the first few regions of New York enter Phase 1 of the State’s re-opening plan, I wanted to share some data on where the NYC real estate market is now, and what we may see in the second half of 2020. 

Current Market Conditions

Since the “NY on PAUSE” order began on March 22, agents have been extremely limited in their ability to list, market, and show properties. While some transactions have taken place, most have been closings of deals that had been negotiated before March 22nd. From mid-March through the...

April 3, 2020

First and foremost, we wish you and your loved ones good health, renewed positivity, and as much sanity as possible during this challenging time. Our team is here, as always, to answer your real estate questions. We are working overtime with our sales managers, attorneys, lenders, and other partners to understand the regulatory changes for landlords, tenants, and homeowners. We are also closely watching the market and seeing creative ways that real estate transactions are proceeding amidst the uncertainty an...

February 27, 2020

No matter where a buyer is in the process, if they are financing, chances are they have questions about mortgages. This week, we are going straight to the source to have our favorite mortgage professional Zack Tolmie answer the most common questions we encounter.

1) I have a lot of student debt. That means I can't qualify for a mortgage, right?

Interestingly, banks aren’t concerned about the amount of debt you have. We care instead about your monthly debt payments. As long as you can afford to make your mortga...

February 14, 2020

An apartment combination is the stuff of lore for many New Yorkers, but if you're one of the lucky few for whom that opportunity may present itself, there are many things to consider before making the offer on your neighbor's apartment. Theoretically, combining two adjacent co-op or condo apartments requires nothing more than removing a kitchen and creating a doorway-sized opening in a wall to join the two units. However, creating an new apartment that actually feels like a home in terms of flow, functionali...

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...

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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.