Contact Us at 917-860-2782 or vshtainer@compass.com

25 Park Row Coming to Heart of New Downtown

25 Park Row NYC

The New Downtown continues to attract attention and become one of the “it” spots in the city. The most recent new development to debut in the neighborhood is 25 Park Row, situated adjacent to City Hall Park. The unique location puts it right on the cusp with easy access to the Financial District, Tribeca, and SoHo. 25 Park Row is joined by famous neighbors on multiple sides including The Beekman, The Woolworth Tower, and 30 Park Place.

25 Park Row NYC

 The 50-story art deco-inspired tower will be comprised of 110 residences with views of City Hall Park. The building is expected to achieve LEED status. 25 Park Row is designed by Cookfox Architects with architectural details throughout the building inclusive of loggias, Juliet balconies, and large, casement-style windows.

25 Park Row Views

Residences features classic details yet done in a modern way that brings the perfect sensibility to what living downtown today is all about. Residences feature finishes such as wide-plank European white oak flooring. Kitchens are done with white lacquer millwork cabinetry, cantilevered walnut islands, and are outfitted with a Miele appliance package. Master Baths are modern and luxurious, with calacatta gold marble countertops, flooring, and wainscotting with European white oak vanities. Penthouse residence master baths feature freestanding Kallista tubs.

25 Park Row Interiors
Park Row Penthouse
25 Park Row Interiors

 The building will have a suite of amenities dubbed The Park Row Club which have been curated and designed by Studio Mellone. It will offer a variety of leisure spaces that overlook City Hall Park including a living room, library with fireplace, private dining room, and billiards. A Garden and Dining Terrace provide outdoor space which will include a lounge area with space for grilling. A 65-foot swimming pool, spa treatment rooms, park-facing gym, and private yoga studio round out the curated amenity offering.

Currently availability starts with 1 Bed // 1.5 Bath offered at $1,695,000 with CC: $1,105/MO and RE Taxes: $1,105/MO.

Interested in 25 Park Row and Experiencing the New Downtown? Contact Us today!

2018 Holiday Tipping Guide - How Much to Tip Building Staff and More

NYC Holiday Tipping Guide.jpeg

The Holiday Season has officially kicked off. With Black Friday and Thanksgiving over, holiday decorations are going up across town. With the arrival of the Holiday Season comes the question on the mind of many - “How Much Should I Tip?”

The holiday season is always a time to give back to those that had a positive impact on our lives over the past year. One question that always comes up, especially in New York City, is how much to tip the building staff and those that are intimately involved in day-to-day life? Tipping is a major part of the Holiday Season in New York, and is a way to show appreciation to your building staff. Thus, it is important to say that it is highly encouraged, but not required. As December rolls around, many begin to get anxiety about who to tip, how much to tip, and if he or she should even tip at all. 

Our friends at Brick Underground publish a go-to holiday tipping guide, which has been circulating since 2013. We condensed it, and put our take on what is appropriate as you budget for your holiday tipping. Remember, these are simply guidelines. There are many factors that can influence the tipping decision such as the size of the building (a larger staff equates to smaller individual tips), level of service, seniority, and time in building. Additionally, owning versus renting in a building can play a big factor as well.

Of course, if you live in a building with a part-time doorman, virtual doorman, or no staff at all, the below levels could be adjusted downward.

Renters: Tips do not have to equate to the dollar amount you are paying each month for rent. If you receive a lot of packages, have a stroller that is carried in and out of the building, etc., factor this into your tip. 

It is recommended that you tip in cash. Doorman, Concierge, Supers, etc. all of bills to pay like you and I- they are not looking for fruit cakes, cookies, or homemade gifts at the holidays!

 

 

Tipping Guidelines

 

 

Super: $150-200
Doorman/Concierge: $100-150
Nanny: 1 Week Salary
Housekeeper: 1 Week Salary
Dog Walker: 1 Week Salary
Driver: 1 Week Salary
Garage Attendant: $50-$100
Personal Trainer: $100
Chef: $300-500
Personal Assistant: 1 Week Salary
Hairdresser: $50-75
Manicurist: $25

 

Something to Consider: If you have been tipping throughout the year utilizing a "pay as you go" method, it is customary to tip on the lighter side during the holiday season.

What Does Amazon's New Headquarters Mean for NYC Real Estate

Amazon Long Island City

Amazon made a big announcement this week, officially stating they New York City would be one of two locations for their HQ2, naming Long Island City as the location. When headlines broke, everyone in the real estate industry began thinking – how will this impact NYC real estate, particularly Long Island City?

The arrival of Amazon will continue the development of Long Island City and should encourage the city to invest dollars into infrastructure such as the subway system which is in dire need and buses. With the arrival of the new Amazon headquarters comes and anticipated 25,000 new, high earning employees.

Prices Likely to Rise

Long Island City has had a housing development boom in recent years with the neighborhood continually becoming more residential and less industrial. We continue to expect new units to come to market in the neighborhood in the near term. Prices have been on the up, and in fact, LIC is the priciest neighborhood within Queens.

Amazon’s announcement means there will be inherent increased interest in the neighborhood which could push prices slightly higher rather quickly, especially in terms of rent demand. It is important to note that rents in LIC luxury brands somewhat mirror that of Manhattan rents, so prices may not skyrocket in the short term, however, increased demand may motivate landlords to remove concessions that are being found on many luxury rentals. There has been an absorption issue in Long Island City given the sheer amount of inventory that has come on the market in the neighborhood in recent years.  

Impact Not Confined to Long Island City 

Anticipate price impacts to be felt in other neighborhoods as well. The influx of employees may look to other neighborhoods that still allow for easy access to LIC such as Midtown East and the Upper East Side where they may find more bang for their buck.

Being priced out of the market is still a very large issue for the NYC housing market as wages cannot keep up with cost of living for many. Because of that, we expect that the largest increase in pricing may be seen in peripheral neighborhoods that are still up and coming such as Greenpoint, Brooklyn. A new influx of residents in neighborhoods such as this could push pricing higher.

 

More Players than Just Amazon

While Amazon is garnering much press and attention about the location of their second US headquarters, it is important to remember that there are other plays that can contribute to this as well. Google has stated they expect to nearly double their workforce in coming years. The arrival of Amazon could further establish New York as a tech center and attract everything from Amazon competitors to start ups. What does that mean? The influx of people as a result of high paying jobs could be greater than what will be from Amazon on its own.

Inside Holiday House NYC 2018

Holiday House has returned to New York City, and the 2018 rendition has transformed a townhouse on the Upper East Side. Located at 118 East 76th Street, this year’s Holiday House features the work of more than 20 interior designers including Interior Market Group, Melanie Roy, Timothy Brown Studio, and The Studio at One King’s Lane to name a few.

Holiday House was started in 2008 by interior designer and breast cancer survivor Iris Dankner. Holiday House has been raising money for the Breast Cancer Research Foundation for over a decade, allowing visitors to get inspiration from top interior designers and experiencing products first-hand from leading brands.

The project has expanded to The Hamptons, and even globally with Holiday House London. We are happy to see the return to NYC, and we went inside. Talk about serious inspiration!

Step Inside…

Holiday House NYC 2018

Kitchen - Designed by Melanie Roy

After 15 years in the television industry, Melanie Roy pivoted and began her career in interior design. She focusing on designing family-friendly residences.

Melanie Roy Kitchen Holiday House
Melanie Roy Kitchen
Holiday House NYC
Holiday House NYC 2018
New York Holiday House Showhouse

Master Bedroom - Designed by Natalie Kraiem Interiors

Natalie Kraiem Interiors is a Brooklyn based interior design firm that places emphasis on strategically incorporating different styles. She aims to create sophisticated, glamorous, and timeless spaces. For her Master Bedroom at the 2018 Holiday House, she transforms visitors to a “Getaway in Paris”

Holiday House Master Bedroom
Holiday House 2018 NYC Details
Holiday House Master Bath


This is simply a glimpse into the inside of the 2018 Holiday House. We highly encourage you pay a visit, and take in the myriad rooms and inspiration sources. The house is open to visitors through December 2nd, 2018. All ticket proceeds benefit the Breast Cancer Research Foundation.

Hours:

Tuesday-Sunday: 11:00am – 5:00pm

Until 8:00pm on Thursdays

Tickets can be purchased online.

Greenwich West Launches in SoHo

110 Charlton Street.jpg

SoHo, historically known for its converted luxury lofts and lack of amenity filled buildings is experiencing a new wave of development, bringing luxury condos outfitted with full amenities to the neighborhood. One particular area, Hudson Square, has become an enclave for luxury developments in SoHo. Greenwich West is the latest luxury development to bring a full-service building to SoHo. 

Located at 110 Charlton Street, Greenwich West will rise 290 feet tall and be comprised of 170 condos. The development just launched sales, and we were among the first to get an inside look during their launch event.

Sebastien Segers Interiors

 Greenwich West is designed by a collaboration between two Parisian Firms – Loci Anima and Sebastien Segers. Adamson Associates is the architect of record for the project. The design team was inspired by the iconic industrial architecture of West SoHo but applied an infusion of classical French inspiration. This is especially evident in the interiors which are warm and inviting, yet do not lose their “downtown” feel and modernism.

Greenwich West Interior.jpg
Greenwich West 110 Charlton.jpg
Greenwich West Interiors.jpg

Residences will range in size from Studios to 3 bedrooms with prices starting at just under $1M. Construction is currently underway and is expected to wrap up in 202.

Greenwich West will offer a suite of amenities to residents including fitness center, lounge, rooftop terrace, bicycle storage, automated parking, and a children’s playroom. Additionally, given the buildings location, we expect the views of the Hudson to be beautiful from high floor units.

Questions about Greenwich West and luxury living in SoHo? Contact us for more information and pricing!

Rendering via Familiar Control

What Do Rising Interest Rate Mean for the Housing Market?

rising mortgage rates

Mortgage rates of been on the rise lately, with the most recent tear higher garnering quite a bit of attention. The 30-year fixed rate is approaching 5%, a number that hasn’t been seen since around 2011. Remember, while rates are high relatively speaking, rates are still lower than what was observed in the 70s, 80s, and 90s.

The expectation is that rates will continue to rise with economists forecasting we will see 5% by the end of 2018 and could possibly see 6% by the end of 2019. Why are rates rising so rapidly? The most recent jobs report was indicative a strong economy with unemployment the lowest it has been in decades. A strong job market translates to a strong economy, and a strong economy means rising interest rates. 

So, what do rising rates mean for home buyers and the housing market? Remember the following

You Have Mortgage Options 

When headlines and the press speak to mortgage “rates” they are referring to the 30-year fixed rate. This is the most expensive mortgage product as it has the longest built in protection period. But what if you do not plan to be in the home for that long…why pay a premium for time protection that you may not need?

Many buyers are shocked to see all the various mortgage products that exist when they sit down and discuss their needs and options with a Mortgage Broker. A qualified Mortgage Broker will be able to advise on which product makes the most sense given your qualifications and time horizon. 

Control What You Can 

There are aspects that you can control when it comes to financing your home and getting the best rate possible. Two of the biggest influencing factors are 1) down payment and 2) credit score. 

Down payment:

The amount of money you put down on a home is one of the biggest tools you can use to lower your monthly payment because the more you put down, the less money you are borrowing. We understand getting a substantial down payment can be challenging, especially for first-time homebuyers who may be younger and faced with high student debt.

It is also important to remember that any down payment 20% or greater will remove the need for Private Mortgage Insurance (PMI) which can be a substantial savings on your monthly payment.

Credit Score:

If you have ever borrowed money, you know the importance of a strong credit score as it relates to getting the most favorable rates. Yes, you do not need the best credit score out there to qualify for a mortgage, however, the better your score the better the rate you will receive which means the lower your monthly payment will be. Turning a credit score around can take some time, so if purchasing a home with financing is in your future and your credit is damaged, start working hard now to get it on the rebound.

Tax Benefits

There are tax benefits to having a mortgage which are something to consider. While many do not know exactly where they stand in terms of tax liability given the new changes to tax code, we expect to get more clarity after filing 2018 returns.  

With that said, interest paid on a mortgage is generally tax deductible. Under the new tax laws, if you take out a new mortgage, you can deduct up to $750,000 in mortgage interest from your taxes.  In a sense, this makes your effective mortgage payment lower as you are getting benefits when you file your taxes…something to keep in mind.

Questions about taxes? We are not tax advisors and would defer you to your qualified tax advisor who has a full picture of your tax liabilities.

If You Are a Seller

Rising mortgage rates may not only impact buyers, those actually taking on a mortgage, but could also have an impact if you are a seller, so it is important to say abreast of market trends. 

Sellers – enlist the advice of your broker in regard to pricing. Your broker will be attuned to trends in the neighborhood and know if impacts are being felt as a result of rising rates. This is especially important for sellers who are selling property that is more likely to appeal to first-time home buyers who are more pressed for cash and concerned with monthly payments. Will a reduction in price make your property more attainable for them?

It is important for sellers to understand the buyer’s perspective given we are currently in a Buyer’s Market. Buyers are faced with a one-two punch of rising rates plus increased home prices over the past few years. Price your property according to what the market is dictating if you want to sell.

What does it all mean? We feel rising rates will certainly have impact on some home buyers that are on the cusp of affordability, however, we do not feel that rates are at a point where it could completely stall the market and put large downward pressure on pricing. In fact, some pent-up demand may be spurred to “jump” in to the market as affordability (of monthly payments) becomes a concern. People see the pace at which rates are rising and do not want to be priced out because of higher rates in a few months.

What You Need to Consider When Investing in Manhattan Real Estate

Have you been considering investing in real estate? Headlines and news stories may have some home owners concerned about their property purchase, or investors second guessing a decision to invest in Manhattan real estate. Like any investing, it is important to take a disciplined approach to investing in real estate guided by the advice of an expert. Analysis of over a decade of Manhattan housing data exhibited the strength of the borough to remain a sound investment compared to many of the global markets out there.

So, is all of Manhattan the same? Considering the following things when approaching Manhattan Real Estate from an investment standpoint.

Manhattan is a Resilient Market

Manhattan is somewhat a world of its own when it comes to the market and its driving factors in comparison to the larger macroeconomic landscape. The Manhattan market moves at its own pace during economic downturns as a result. We, of course, observed a large anomaly to this during the Global Financial Crisis of 2008. The crisis took down the entire global economy and impacted Manhattan housing. However, recovery in Manhattan was much quicker than that of other global centers.

During this crisis time, Entry-level luxury bounced back most rapidly. UBS Wealth Management publishes a Global Real Estate Bubble Index annually, and New York City was rated “fair value,” especially in comparison to hot markets such as San Francisco, Hong Kong, and Toronto.

Entry-Level Luxury

We have talked about entry-level price points as being key in the current market throughout many issues of Victoria’s View. In the case of Manhattan, some could argue that entry-level pricing could stretch as far as $5-6M. These are the properties that have shown exceptional price resilience over recent years in a market that some argue is slow.

Sub $3M has been especially busy the last few years. Open houses are getting a lot of foot traffic at this price point, and some properties are even experiencing bidding wars, especially those priced in the $1M range.

Why has entry level luxury faired so well? Demand is strongest at this price point in Manhattan. At this price, demand is fueled by working urbanites that are looking for their first-time home purchase, or are, perhaps, upgrading from a 1 bedroom to a 2 or 3 bedroom as they start a family.

Compared to ultra-luxury, or properties priced $10M+, entry-level luxury in Manhattan has remained more stable, largely a result of this demand from working professionals who need a place to live that we just discussed. Entry-level luxury likely has a higher buyer based composed of individuals seeking their primary residences rather than a second or third home which is often the case with buyers at ultra-luxury price points.

Volatility Factors

When you invest in stocks, you assess funds/companies/ETFs that match your identified risk profile. Risk may be assessed on things such as sector – Utilities may be considered more risk averse and less prone to price swings than a sector such as Biotech.

So, when thinking about real estate, what factors should you use to assess risk and volatility when considering your investment? Bedroom count plays a big part of real estate price movement. As a result, bedroom count can be a contributing factor to price volatility of real estate assets. One and Two-bedroom apartments are more common while 4+ bedroom apartments and large townhomes are more unique and rare, thus there is an inherent pricing question when it comes to large apartments as there is simply less historical data and comparables to which to defer.

While more bedrooms may mean more risk, more risk is often associated with the possibility of more reward. Prices of large apartments have risen dramatically since the 1980s and 1990s, however, in similar fashion, they were largely impacted during the great recession with pricing on large properties still under pressure.

   via     Price swings in YoY rents by bedroom count. Notice the swings in 3 bedroom rents compared to Studios and 1 Bedrooms

via Price swings in YoY rents by bedroom count. Notice the swings in 3 bedroom rents compared to Studios and 1 Bedrooms

Pricing on one-bedroom properties have recovered from recession lows, largely fueled by the consistent demand in this space.

Intrinsic Value

Just as a company or stock has intrinsic value, so, too, does real estate. When considering investing in real estate, partner with your broker so you can identify properties that have more intrinsic value than others.

Contributing Factors

  • Natural Light

  • Neighborhood Stature – are there good schools nearby? Is the area established, up-and-coming, or on a decline?

  • Quality Construction and Materials – your broker knows new development and construction better than you. Lean on them to advise which buildings are constructed from the best materials and workmanship

If your investment is for the purchase of generating income, we have you covered! Check out our article on What to Expect When Investing in Real Estate. If you are purchasing real estate as investment with the goal of renting out, discuss what rents look like in the builder with your broker, and how that estimated figure would stack up against anticipated mortgage and carrying costs. There are ways to extract additional value out of your investment:

Ways to Extract Additional Value out of Your Investment:

There are additional ways to squeeze a bit more rent out of your unit and also have an increased likelihood to win over a prospective tenant as they are shopping around. While some of them are an expense upfront, they are some of the most common requests we see from prospective renters. Thus, you will most likely recoup the cost of these investments into your property.

  • Consider building out the closets to maximize storage with systems such as California Closets

  • Install Electric Shades/Window Treatments

  • Ensure the washer/dryer are good machines. It may be worth it to upgrade the machines from the base units that came with the apartment

Hiring a broker will be crucial to maximize the rent received. They are able to position your apartment on the market to appeal to the right audience and spend the time to understand the intricacies of the board package and fees.

  • Price correctly! Rely on your broker’s expertise to price correctly so you can rent sooner rather than later.

  • Get the condo leasing application to review the fees. That way, your broker can speak to prospective tenants about all fees associated with the unit. Additionally, this is important to understand in case you need to offer concessions to remain competitive

  • Good photos matter!

  • Get a floorplan of the unit to place online with the listing



Condos with a Luxe Perk: Residents-Only Dining

We’ve written about the lavish amenity offerings that have changed luxury real estate in a landscape where high-end inventory is up and competition among new developments is tough. Some of the most exclusive buildings offer residents a unique experience, one that will cost you even more than a SoHo House membership since admission will require the purchase of a unit in the building…residents-only dining.

Amenities are an extension of the residents’ homes, and restaurants take this to a new level with sophisticated private dining by top chefs only available to residents and their guests. These types of buyers look for convenience, but do not want to sacrifice quality to achieve that. These restaurants allow busy people with demanding careers to come home and not worry about cooking, hosting business lunches, or catering a dinner party.

432 Park Avenue

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432 Park Avenue made a name for itself as the tallest residential building in the Western hemisphere as well as for its tall prices for units in the building. The building amenity package is unrivaled, with the exclusive restaurant occupying the entire 12th floor. The restaurant is headed by Michelin-starred chef, Shaun Hergatt. In addition to the interior dining room, the space also has a 5,000 square foot terrace overlooking 57th Street which can be reserved for private events. If you aren’t in the mood to eat in the restaurant on the 12th floor, in-residence dining is also available.

15 Central Park West

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15 Central Park West made a splash among the world’s elite as it quickly became an “it” address recognized across the globe upon completion. It set the bar high in terms of luxury offerings, including a private restaurant for residents and their guests. The restaurant at 15 CPW debuted before that of 432 Park Avenue. The building describes the dining offering as a “private dining service with an in-house chef provides full catering for Fifteen Central Park West residents desiring anything from a four-course custom menu for 80 guests to an at-home romantic dinner for two.”  The restaurant is known to host special meals year-round including women’s lunches with speakers covering varying topics and a special brunch on Mother’s Day each year.

Jade Signature

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The trend of resident-only dining is not confined to New York. One of the latest luxury high-rise to hit the shores of Sunny Isles Beach, just north of Miami, has embraced the exclusive trend as well. Jade Signature, designed by famed architects Herzog & De Meuron, offers a truly luxurious amenities package which allows residents to experience resort-style living on the shores of South Florida. The Jade Signature Beach Bar & Grill so residents can dine pool and beach side without having to head back their residences. The experience is similar to that of many beachfront hotels.

Featured Listing: Jade Signature - 16901 Collins Avenue, #4905

16901 Collins Avenue

3 BED | 4.5 Bath | $4,495,000

Stunning high floor north east corner residence with breathtaking direct ocean, Intracoastal and city views. This home in the sky features 2,929 square feet of interiors and 806 square feet of terraces, 3 bedrooms, 4.5 bathrooms, study plus maids quarter, private elevator entry.  Residence comes fully finished with white marble floors and finished closets, gourmet kitchen with European designer cabinetry by Snaidero, top-of-the-line appliances by Gaggenau. Jade Signature, designed by Pritzker Prize-winning architects Herzog and de Meuron with interiors by French design firm PYR led by Pierre-Yves Rochon, offers five-star amenities with full-service spa and fitness center, concierge services, resort style swimming pool, library, resident lounges, chef's kitchen, full-service restaurant and much more

LEARN MORE ABOUT THIS LISTING

Top 6 Fall Events in New York City

Top 6 Fall Events in New York City

This weekend marks the start of the Fall season! Who doesn’t love making the most out of fall? Even in the city that never sleeps, the leaves die and the trees fall dormant making for incredibly beautiful scenery and cool breezes all of which encourage people to break out their fall attire and bask in the long-awaited cool weather.

 While cozying up with a hot cup of tea and a good book are certainly tier one fall activities, your flannels and boots will look much better out on the streets and at some of New York City’s best fall events. There’s plenty to choose from for a variety of ages and interests, but these top five are absolute must-sees in NYC.

6. Blood Manor

Looking for something spooky in honor of Halloween? Look no further than Blood Manor - New York City’s scariest haunted house experience. The house includes 5,000 square feet of terrifyingly themed rooms and passageways with everything from zombies to clowns to werewolves and more. It is described as the most “intense, creepy and ‘scream inducing’ haunted house attraction” in the New York tri-state area.

General admission tickets are priced at $40 at the door or $38.50 online. Blood Manor is open from October 1 to November 3. The haunted house is not recommended for children or anyone with a heart condition, but anyone else is guaranteed to have a terrifyingly good time. Oh, and don’t forget to wear something you don’t mind getting blood on.

5. New York City Food and Wine Festival

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The New York City Food and Wine Festival is the largest food and wine festival in the region.  It will take place this year from October 12 through October 15. This event is a collaboration between the Food Network, the Cooking Channel and Food & Wine Magazine aimed at bringing attendees some of the tastiest cuisine in the country. Guests are invited to enjoy demos by nationally-acclaimed celebrity chefs, multi-course dinners at popular local restaurants, tastings and opportunities to see Food Network stars in action. 

 

This year is the event’s 10th anniversary - making it an event you won’t want to miss. Tickets are on sale now and priced per event at varying costs (some up in the mid-hundreds).  Packages are also available for purchase which include multiple events throughout the course of the weekend.

4. New York Botanical Garden’s Giant Pumpkin Weekend

NY Botanical Garden Giant Pumpkin Weekend.png

While the last two events are primarily catered toward adults, Giant Pumpkin Weekend at new York Botanical Garden is something the whole family can enjoy. This event showcases some of the nation’s largest pumpkins - some weighing in at over a ton - with last year’s largest pumpkin weighing in at 2,363 pounds!

Participants in this event will have an opportunity to meet the growers and participate in a growing process Q&A. The giant pumpkins will be on display October 20 and October 21 from 10 a.m. to 6 p.m.

3. Macy’s Thanksgiving Day Parade

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The Macy’s Thanksgiving Day Parade is so much more than a fall activity to cross off your list.  It’s the world’s largest parade, an American icon and for many families, a holiday tradition. If you’re available to attend on Thanksgiving morning, that will be one more thing you can cross off your bucket list.

 For those who may not know, the Macy’s Day Parade has been a part of the city since 1924 and each year attracts around 3.5 million people. Over 2,000 performers flood the streets including dancers, clowns and marching bands and each year the parade features 30 large floats.

Be sure to verify the parade route before arrival and plan to arrive early to do your best to beat the crowds. You’ll thank yourself later when you remember to dress in layers.

2. Tompkins Square Halloween Dog Parade

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Sure, the Macy’s Thanksgiving Day Parade is known around the country and is basically a New York City staple...but nothing beats dogs dressed in Halloween costumes. That’s why the Tompkins Square Halloween Dog Parade is number one on our list.

If you’re a dog lover, you won’t want to miss this event. If you’re not a dog lover you can see yourself out. This is the place for all of the city’s best dressed pups to come together to show off and compete for thousands of dollars in prizes. This event is free and open to the public. The runway competition begins promptly at noon so don’t be late!

 1. Apple Picking in The Hamptons

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What says fall more than getting out of the city and into a beautiful orchard for some fall festivities? The Hamptons are equally as beautiful during the fall season as they are during the summer season. If you are looking to get outside in the crisp air with latte in hand for apple picking, check out Seven Ponds Orchard and Hank’s Pumpkintown.

Seven Ponds Orchard, located in Water Mill, offers apple picking with multiple varities including McIntosh, Honeycrisp (our favorite), Fuji, and more. They are open every of the week until Thanksgiving, and also offer hayrides and a corn maze for the kids.

Hank’s Pumpkintown is well known on the East End and a family favorite each season. Also located in Water Mill, it is a great place for the family to enjoy apple and pumpkin picking. They also offer a variety of fall favorites for sale including mums, straw bales, Indian corn, and baked goods.

Watermill Spotlight

1348 Deerfield Road, Watermill

8 Beds | 9.5 Baths | $5,995,000

1348 Deerfield Road Watermill

This brand new 10,000 +/- sq. ft. home commands tremendous presence, sitting majestically atop its own 6 acre hill, on a quiet cul-de-sac that includes some of Watermill North's most exclusive estates. A collaboration between developer, builder and design team, this estate demonstrates how master craftsmanship, amenities and style can come together to create a one-of-a-kind home.

Learn More about this property here.

Regardless of how you participate, there are some fall activities for everyone in the family that are absolutely timeless, especially in the big apple. Between haunted houses, giant pumpkins, wine tastings and dogs in costumes - you’ll find that fall in New York is simply a continuation of the hustle and bustle that the city is known for.

 

 

3 Things to Consider for the Fall Real Estate Market

New York City Skyline

Fall will officially be welcomed September 22nd, however, the fall real estate market is already getting in full swing. This season is typically a busy one for New York Real Estate with increased activity post summer including listings coming to market and new developments launching sales.

 If you are considering buying or selling before the end of 2018, ensure you are set up for success during the fall seasons as it may be prime time to make a deal. So, what do you need to know?

Time

Speaking to luxury properties, absorption rate is up nearly 16% versus a year ago. What does this mean? Expect a longer time on the market going into the listing. Yes, your Broker helps reduce this time and sell faster than the average, but it is important to note where the average is. Given current supply, it would take 16 months to sell all the luxury homes listed in Manhattan in the second quarter. This is up significantly even from a year ago. During the last weeks of July, luxury properties were averaging 536 days on the market.

Price

Simply put, the price must make sense. Sellers that purchased in 2011-2014 that are selling now feel that property should be priced significantly higher than where the market is today. Buyers are more attuned to price, and if the numbers make sense, they are more inclined to act. They are even more so inclined to act if the property represents a bargain.

More price scrutiny may come into place if the buyer is purchasing as an investment because resale numbers must make sense for them as well. Work with your broker to set a pricing plan – discuss price every X days, and if there is zero to little activity, agree in advance to reduce the price by Y every X days to stay relevant.

It is important to understand the crucial role pricing plays in the current market. No one wants to take a loss on their purchase, but if selling is the most important, sometimes getting a deal done means a significant price drop from the original ask.

Broker

Even though Buyers and Sellers have more information and access to information to make informed transactions than they did 10 years ago, listen to your Broker! A Broker has access to even more information, they are your boots on the ground. They know what is going on across the market at various price points because of their proximity to the industry. Listings where Sellers are not listening to the advice of their Brokers are sitting.

New Developments arriving this Fall

The fall is an exciting time as many new listings come to market, including new development. There is still an ample pipe of new development coming across all boroughs from Manhattan to Queens and Brooklyn. Below are a few to keep an eye out for as they hit the market this fall in Manhattan.

  •  100 Franklin- Situated across the street from the Roxy Hotel in TriBeCa, this project will bring 10 full-floor homes from DDG Partners

  • Greenwich West – Located at 110 Charlton Street in West SoHo, Greenwich West will be a collaboration between two Parisian design firms, Loci Anima and Sebastien Segers, and be comprised of 170 condos.

  • 200 Amsterdam- After fighting for approval, 200 Amsterdam will be one of the tallest buildings on the Upper West Side, clocking in at 668 feet. The building will have 112 units with a distinctive crowning top.

  • 1010 Park Avenue- Extell is bring new development to Park Avenue with 1010 Park Avenue design by Beyer Blinder Belle and interiors by David Collins Studio. The apartments are expected to be very luxe with prices starting around $15M.


Interested in Buying or Selling this Fall season? Get in touch!

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