Good Morning New York // Podcast // November 12th, 2019
Anna Shagalov
Buyer's and Sellers Expectations Right Now
Today on the Show: How do you decide to either renovate or sell your apartment and what are the costs of both? Facing the co-op board process and the eventual interview, what key elements do you need to know? Inventory is at near records but sellers have to be more compelling to sell quickly. What makes and investment property a good rental property? What are some of the contingencies that show up in our real estate deals? Where did all the tax abatements go? And if you have floor to ceiling windows in your new condo, how do you decorate? All that and so much more.
Understanding the New Condo Development Market 2019
We came out of 2018 in reset mode for NYC sales including new condo development sales. The pace of sales has already slowed this year with homes spending more time on market prior to going into contract. More than 20,000 new apartments in New York, both for sale and for rent, will open their doors this year and likely just a fraction will find residents by year end.Sharp pricing and developer incentives seem to be the only way to get these units in contract. Also at this Hour: Hudson Yards has entered the list of most expensive NYC neighborhoods with a median sales price of $3.86 million. Tribeca remains the priciest neighborhood with a median sales price of $4.34 million, but Hudson Yards, the new luxury neighborhood on Manhattan's Far West Side, which opened in March this year, comes in a close second. Other neighborhoods that saw median price increases included Little Italy, Cobble Hill and Prospect Park South, where prices more than doubled year over year. Try LandGlide free for a week by visiting landglide.com/vince
An Interview With Andres Escobar
Today on the Show: Powerful, meaningful, daring design is at the core of Lemay + Escobar’s highly customized approach that speaks the language of New York City and every other place it transforms. For over 20 years, high-profile clients in all five boroughs have come to expect the firm’s unwavering design excellence with a value-adding twist. Lemay + Escobar integrates architecture, interior design, master planning and landscape architecture, creating stunning, seamless human environments of all kinds. Andres Escobar, a partner in the firm is with us this morning to discuss his unique abilities. Also at this Hour: Is the Buyer’s market over? They say, you snooze you lose. Is the tide turning in favor of U.S. home sellers, who are set to benefit from a slowing in new listings coming to the market. The shift can be attributed to a strong economy and lower mortgage rates.