Recent years have seen Manhattan rents first fall in 2020 before taking off in 2021. By the end of Q2 2023, average rents are at an all-time high in Manhattan. This first chart is the last 3-years by quarter, followed by 10-Years by year.
30 Year Fixed Mortgage Rate From December 2020 to March 2023, the cost of mortgage money more than doubled. Ten Years of lower-cost money, April 2013 to March 2023 April 1971 to March 2023, the peak of 18.44% was October 1981. The gray bands denotes recessions. Over the previous fifty years, the 30 Year Fixed […]
Ten year charts looking at Downtown residential Condominiums and Co-operatives and Resale and New Development. The fourteen neighborhoods in this study are: Chelsea, East Village, Flatiron, Gramercy, Greenwich Village, Meat Packing, Noho, Nolita, NoMad, Soho, Tribeca, Union Square, and West Village.
Basics of the Tax Bill Corporate Tax rate has dropped from 35% to 21%. Doubles the Estate Tax exemption from $5.5M to $11M. Individual tax rates have dropped from 39.6% to 37% and will expire in 2025. Allows for up to $10,000 of deductions in state and local sales, income, and real estate taxes (SALT). […]
Importance Boutique business is small by design, and we can only give 100% of our attention to a limited number of clients and projects. We do not have the business model to chase quantity. We can only pursue quality, “high probability of success,” opportunities, and we must be successful at them. Convenience A small firm […]
Below is a selection of properties we represented for sale or lease in Manhattan & Brooklyn:
2 Jane Street, West Village
2 King Street, Soho
3 Lincoln Center, Lincoln Center
4 West 16th Street, Flatiron
7 West 96th Street, Upper West Side
10 West 15th Street, Chelsea
Buying or Selling a Manhattan Co-op: From Contract to Closing The impetus for this post is a question that was recently asked of me from one of my sellers. They are in the early stages of selling their Manhattan co-op and have simultaneously bid on a house outside of the city. The seller wanted to […]