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New York City

Why Hudson Yards is NYC's Most Up-and-Coming Neighborhood

Long viewed as the “Far West Side”, the new Hudson Yards development contains a surplus of fine amenities, redefining the culture of the previously barren neighborhood. This 28-acre site is distinguished by its abundant square acerage, dedicated to office and residential space, as well as retail, dining and public recreation options.

Hudson Yards, the largest development of private real estate in U.S. history, is projected to contain over 4,000 residences within four skyscrapers, amounting to 18 million square feet of office and residential space. With 14 acres of public space, over 100 shops and 25 dining options, Hudson Yards will dominate social living in New York City.

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With the establishment of the City’s first Neiman Marcus follows a long list of high-end retailers, such as Stewart Weitzman, Tory Burch, Lululemon, Cartier, Van Cleef & Arpels, and Rolex. Over 100 stores are complemented by the wide variety of dining options, with spots showcasing some of the worlds most renowned chefs.

Recreational conveniences include a theater, public school, park, hotel and dazzling views from the skyscrapers, providing plenty to do within the development alongside the apartment complexes and office space. With an infinite amount of activity, it’s no surprise that Hudson Yards is expected to be the “new heart of New York City”.

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The development anticipates millions of visitors per year following its completion, who will experience the liveliness and glamour of the neighborhood, making Hudson Yards a premiere destination in New York City.

Interested in Experiencing Hudson Yards Living?

448 West 37th Street 8A

Interested in experiencing Hudson Yards living? Our latest listing, 448 West 37th Street #8A, combines the luxurious amenities of the new development with classic loft living. Only a short distance from the plethora of shops and restaurants, Apartment 8A provides a sun-filled space, boasting 12-foot windows, in addition to 1840 square foot expansive layout.

Best NYC Rooftops with Instagrammable Views

Across New York City lies a wide variety of rooftop restaurants and bars, offering sweeping views of the remarkable skyline and chic atmospheres to relax. In addition to the glamorous ambiance, these settings offer breathtaking glimpses of the boroughs that are most definitely insta-worthy. These photo-ops will have your followers liking your latest posts in no time.

The Crown

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This rooftop bar and lounge, located on the the 21st floor of the swanky 50 Bowery Hotel, offers beaming views of Manhattan and Brooklyn, in a light-filled space. Unique dishes and drinks created by Chef Dale Talde, David Massoni, and John Bush of Three Kings Restaurant Group allow for both an enjoyable and worthwhile experience.

Loopy Doopy Rooftop Bar

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Loopy Doopy offers signature, stylish popsicle coctails with a remarkable background. The bar provides impressive sights of attractions such as the New York harbor, Statue of Liberty and even the New Jersey skyline, alongside the Hudson River. This unforgettable bar has a monthly rotation of beverage flavors, allowing constant anticipation for your next return.

Westlight at the William Vale

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Located in the saavy neighborhood of Williamsburg, Westlight at The William Vale has breathtaking panoramic views of Manhattan, with phenomenal food and drinks to complement. Especially at sunset, this rooftop offers unparalleled sights of New York City, desirable enough for a new Instagram post.

230 Fifth

230 Fifth offers unobstructed views in the heart of Manhattan, highlighting spots such as the infamous Empire State Building. This lavish hangout offers a glamorous rooftop filled with seasonal intricate cocktails, in addition to an “igloo bar” November-May. The space has both an indoor penthouse along with a rooftop garden, perfect for entertaining, as well as a casual drink.

Mr. Purple

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Situated on the 15th floor of Hotel Indigo Lower East Side, Mr. Purple has indoor and outdoor space offering dazzling views of downtown Manhattan. This trendy rooftop contains an outdoor pool surrounded by stunning glimpses of several bridges and world-class architecture.

Salon de Ning at The Peninsula

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Salon de Ning is located in the center of Midtown Manhattan, inside the exclusive Peninsula Hotel. This rooftop lines Fifth Avenue, and has views of Central Park, as well as the bustling city below. Two terraces and an inside bar offer a relaxing setting despite the hectic scenery surrounding the area.

Guide: Celebrate Father's Day in NYC & The Hamptons

Father's Day is just around the corner on Sunday, June 17th so its time to start thinking about planning a special day for him, or, perhaps, a special gift. Father's Day does not have to mean another tie to add to his collection of hundreds. The Victoria Shtainer Team has curated a list of places to take Dad on his special day in the city and The Hamptons from a boat ride to a baseball game, we have rounded up some ideas to make his day special. 

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Ride the Beast – Operated by Circle Line Cruises,  The Beast is a jet powered thrill-ride on the water. The Speedboat can cruise at up to 45mph – it is powered by twin jet engines after all. The Beast cruises down the Hudson River from Pier 83 to the Statue of Liberty.

Boat Departs Pier 83 at West 42nd Street every hour on the hour from 10AM-6PM. Tickets available online.

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US Open – The 118th US Open is taking place through June 17th at the Shinnecock Golf Club in Southampton.  Ticket options range from a Gallery Ticket which provides grounds access to Shinnecock Hills to 1895 Club which gives ticket holders the ability to access the exclusive 1895 Club of Shinnecock Hills.

Tickets can be purchased online 

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A Day in Coney Island – Head to one of the city’s most popular attractions in the Summer and enjoy a day at the beach, on the boardwalk, or at Luna Amusement Park. Be sure to make a stop at Nathan’s Famous Hot dogs – no trip to Coney Island is complete without it! Rides operate daily during the Summer season. Getting there is easy – simply hop on the D/Q/N or F train to Stillwell Avenue.

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Yankees Game – The Yankees are playing at home on June 17th against the Tampa Bay Rays. What says Father’s Day like watching one of America’s favorite sports with him? It is a 12:05pm game.

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Flashback Art Exhibition- The Hamptons is filled with art galleries, and checking out exhibitions is a great way to pass the afternoon. The White Room Gallery has the "Flashback" exhibition on through June 17th. This exhibition features iconic Portraits and Pop art from artists like Joss Parker, Seek One, David Morico, and Strosberg Mandel.

White Room Gallery: 2415 Main Street, Bridgehampton

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Belgian Pretzels and Beer Class – Le Pain Quotidien is hosting a fun class that would make a great gift for Dad. During the Belgian Pretzel and Beer Class, he will learn how to roll, shape, and bake pretzels with a crispy exterior and doughy interior. After they are done baking, participants will enjoy the creations alongside a glass of Belgian Beer.

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The Tasting House at Sparkling Pointe – Sparkling Pointe Vineyard is celebrating Father’s Day at their Tasting House in conjunction with The North Fork Shack. The Father’s Day event features a tasting of 3 sparkling wines paired with pulled pork sandwiches, pickled watermelon and shallot fries.

Booking can be made online - Sparkling Pointe Vineyard 39750 County Road 48, Southold, NY

 

Wishing a Happy Father's Day to all the Dads out there!

-The Victoria Shtainer Team

A Look Inside the 46th Annual Kips Bay Decorator Show House

Kips Bay Designer Show House

The 46th annual Decorator Show House is underway, showcasing work from top interior designers. The Upper East Side townhouse at 110 East 76th Street has been completely transformed, and all for a good cause, namely the Kips Bay Boys & Girls Club. All proceeds from the events will go to the Kips Bay Boys & Girls Club which provides after school enrichment programs to more than 10,000 youth in the Bronx. 

Kips Bay 110 Easy 76th Street

About the Kips Bay Decorator Show House

The Upper East Side is known for its historic and grandiose townhomes, and the Lenox Hill neighborhood, the site of this year’s show house, is no exception. The row of townhomes at 110-120 East 76th Street was originally built by Augustus Hatfield in 1883-85 and are unique in that they are 36’ feet, must larger than the standard townhouse width in New York. This year’s show house, at 110 East 76th Street, has been completely reworked by Robert Couturier. Renovations on the home began in 2010. Couturier is most known for his work for billionaire financier, Sir James Goldsmith which jumpstarted his career.

His vision for this year’s show house took inspiration from past projects he completed around the globe with an emphasis on the fact that the spaces in the house are meant to live in and move about, they are not simply “stages.” The expansive townhome provided the perfect backdrop for top interior designers to showcase their work.

110 East 76th Street spans 15,000 square feet across 7 floors. Part of the renovations included incorporating modern luxuries such as an elevator, which is accessible from each of the 7 floors. The home includes 8 bedrooms and 10 baths. It is a unique opportunity to own a wide townhouse on the Upper East Side. The Master Suit of the home alone spans 1,500 square feet and includes a separate sitting room, fireplace, and double baths.

It is currently offered at $51,000,000.

Decorator Show House

The expansive townhouse residence has become a showcase of work from renowned interior designers that have donated their time and skill to create the beautiful spaces. The interior features 7 floors of living space which have been transformed into sumptuous space from a attention grabbing, statement staircase to an elegant sitting room and Clive Christian kitchen.

Kips Bay Boys and Girls Club

The interior designers have spared no attention to detail throughout the home, sourcing their decor from the likes of Hermes, Sotheby's, Bergdorf Goodman, and Roche Bobois to name a few.

Take a look at a few of the beautifully curated rooms in this year's Decorator Show House:

The Show House will be running Until May 31st 2018.

110 East 76th Street
Monday-Saturday: 11-5pm
Tuesday and Thursday: 11-8pm
Sunday: 12-5pm

Tickets can purchased online in advance by visting Kips Bay Decorator Show House. Remember, all ticket proceeds benefit the Kips Bay Boys & Girls Club.

Has the Second Avenue Subway Line Increased Real Estate Values?

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The Second Avenue Subway line was a long time in the making and captured the New York Metro Area’s media attention for much of 2016-2017. Prior to the opening of the Second Avenue line, the Upper East Side was mainly served by the 4/5/6 subway line on Lexington Avenue. That meant many people living to the east of Lexington Avenue and toward the river had not only a hike to the closest subway, but also it was the only subway option. For this reason, some people preferred to take their real estate search to other neighborhoods with more access to public transit.

Values have Risen

The Second Avenue line on the Upper East Side has been open for a little over a year now with January 2018 marking the 1-year anniversary. So the question begs – has the opening of the subway had a positive impact for real estate in the neighborhood?

Research published by Streeteasy shows that prices in the Yorkville area of the Upper East Side rose year over year. This increase in both rents and sales comes at a time when the Manhattan market is cooling off in some respects. Sales rose 2% in price while rent rose 4% in the 12-month period. For the latter, this increase in rent prices was second only to the Financial District was has very large access to public transit and has been experience and economic rebirth in the post 9/11 era.

Increased Interest

A noticeable increase in interest has been observed in properties on Second Avenue and East because of the subway access. Within the Upper East Side, Yorkville has seen the biggest increase interest thanks to its affordability relative to other sections of the Upper East Side as well as its proximity to the new transit line.

Resale is not the only area seeing positive impacts from the Second Avenue line. Developers also bet on the area, breaking ground on projects before the line was completed and opened. Luxury developments in the area include:

·         20 East End Avenue

·         The Kent at 200 East 95th Street

·         Citizens 360 at 360 East 89th Street

·         389 East 89th Street

Those that took the risk and bought before the subway got a discount and are now reaping the rewards! We expect that the Upper East Side will continue to have a robust market with increased interests.

Second Avenue is home to many great restaurants and bars and new additions keep opening from food to fitness. Some favorite and notable locations along Second Avenue include:

  • Quality Eats
  • A La Turka
  • Maison Kaiser
  • Two Little Red Hens
  • Ripped

The Victoria Shtainer Team’s Exclusive Upper East Side Opportunities:

408 East 79th Street, 17AB

Convertible 5 Bed | 5 Bath | $7,395,000

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1355 1st Avenue, 6th Floor

4 Bed | 4.5 Bath | $6,495,000

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Why Live on the Upper East Side?

Manhattan Upper East Side

The Upper East Side is known for its neighborhood feel and expensive Park Avenue apartments, steeped in rich history dating back to America’s most prominent families. The Carnegies, 

Rockefellers, and Kennedys have all called the Upper East Side Home. Today, the neighborhood attracts a variety of different demographics and has housing options that span many price ranges.

People are attracted to the Upper East Side and call it home for a myriad of reasons ranging from selection of schools to restaurants, shopping, and culture. It is a great neighborhood for first-time city dwellers as well as established families because of the diversity of properties available in the area. The neighborhood feel of the Upper East Side extends a welcoming hand to all.

Oscar De la Renta Madison Avenue

Some felt that the Upper East Side was somewhat out of reach because the 4/5/6 was the main artery in and out of the neighborhood, leaving people on the east side of the area having to walk to Lexington Avenue to get downtown. With the opening of the Second Avenue Subway, the neighborhood and all of its perks have become even more accessible, and properties on the far east side of felt a positive impact.

Whether you are looking for home close to great close, coffee shops, museums, or shopping, the Upper East Side offers it all! Download our Upper East Side neighborhood guide to learn more about the neighborhood and why we love it.

Some of our neighborhood favorites include:

Restaurants:

  • Mr Chow
  • Flex Mussels
  • Haru
  • Philippe
  • Elio's
  • Campagnola
  • Sushi by Gari
  • Jo Jo's
  • Cafe Boulud
  • Morini
  • The Mark Restaurant
  • La Goloue
  • Jade Sixty

Coffee:

  • Nespresso boutique on 74th and Madison
  • Joe's Coffee
  • Birch Coffee
  • Sant Ambroeus

Workouts:

  • Equinox
  • Soulcycle
  • Flywheel
  • Rumble
  • Hot Yoga
  • Ripped

Gourmet Grocery:

  • Citarella
  • Whole Foods
  • Fairway
  • Dean & Deluca

Salons:

  • Warren Tricomi
  • Drybar

Museums:

  • Metropolitan
  • Jewish Museum
  • Frick Collection
  • Met Breuer
  • Neue Galerie
  • Guggenheim

Schools:

  • Chapin
  • Brearley
  • Buckley
  • Spence
  • Dalton
  • Garden House School
  • Town
  • Lycee Francais

Parks:

  • Central Park
  • John Jay Park
  • Carl Schultz Park

Featured Upper East Side Listings:

 408 East 79th Street, 17AB

Convertible 5 Bed | 5 Bath | $7,395,000

Apartment 17AB is a convertible five bedroom, five bathroom home with a private elevator landing in one of the Upper East Side's best condominium buildings. Meticulously designed by Weitzman Halpern, this 3,836 square foot home with 10 foot ceilings offers soaring views in every direction. Generously proportioned living and entertainment rooms make this home ideal for gatherings and entertainment. The Arcadia was designed by famed architectural firm Costas Kondylis and includes a private gym with beautiful skylight, stretching room and massage room, children's playroom, newly developed teen game room, bike room, storage, library and 24 hour doorman and concierge. 

SEE FULL LISTING

1355 First Avenue, 6th Floor

4 Bed | 4.5 Bath | $6,995,000

The 6th Floor at The Charles Condominium is a spectacular full-floor home with four bedrooms, four and half bathrooms, and complete luxury design work from Interior Design Aman Meeks. At 3,637 square feet, this is truly a special opportunity to own a gracious and pristine condo unit on the Upper East Side.

SEE FULL LISTING

 

2018 Outlook: What to Expect for the New York City Real Estate Market

2018 Housing Market Outlook

Many people have been asking what we expect for the Real Estate market in 2018. While it is a bit early to tell the impact of one of the major items at play in 2018, namely tax reform, 2018 looks to be favorable for the real estate markets largely due in part to a strong job market and strengthening economies globally. We have broken down our 2018 outlook into 4 key areas – tax reform, economic backdrop, inventory, and rentals

Tax Reform

The new tax law is likely to be the most impactful to the 2018 real estate market compared to our other key areas, and is a large element of uncertainty for the housing market. This sweeping overhaul with changes from personal to corporate taxes has provisions that are expected to impact real estate markets, especially in high tax states such as New York, New Jersey, and California.

The 2 changes to be most aware of in the bill are the capping of State and Local deductions to $10,000 and the reduction of the Mortgage Interest Deduction from $1MM to $750,000. Both of these changes could make owning a home more expensive than previously planned for some individuals and impact the amount being considered to mortgage a home.

We are only 10 days into the New Year, so the impact of changes are still unclear. Q4 2017 activity was strong, and historically Q4 momentum carries in to the beginning of the following year. We see 2 possible scenarios that could unfold as a result of the tax changes:

  • Pace of sales slows at the beginning of 2018 as buyers might pause and speak to their accountants in an effort to try to better understand their new tax picture before making a purchase. In this scenario, we see downward pressure on pricing.
  • Volume and Pace of transactions from Q4 continues into 2018 as buyers may recognize that the uncertainty that may be instilled in some regarding tax reform creates opportunity, and they seize this opportunity. Additionally, buyers are likely armed with padded investment accounts and year-end bonuses.

Regardless of scenario, the largest impact of the tax bill is likely to influence buyers in the $1M+ to $5M price range.

Economic Backdrop

Moving into 2018, there are a lot of favorable economic indicators that create a favorable backdrop for housing. It is important to remember that the real estate markets are highly correlated to both the job and stock markets. Economies around the world are expected to grow in 2018 with some foreign economies outpacing U.S. growth – could foreign buyers increase in 2018?

Here in the U.S., the Fed increased their growth outlook for 2018 in their minutes released in December. Their notes utilize language that suggests a job market that will continue to remain strong, and, perhaps, grow slightly while being accompanied by rising wages. This is a positive for the housing market. Additionally, the Fed is currently suggesting 3 rate hikes in 2018 as Yellen’s term comes to an end.

The consensus among analysts is that equity markets will continue to rise in 2018. While the magnitude of the rise may not be as large as in 2017, gains will continue to add to already large investment accounts.

Inventory

We expect high inventory in the luxury market to persist in 2018, or increase with additional new condo inventory coming to market.  Developers are continuing to reshape the New York City skyline in partnership with some of the best names in architecture. Projects like 125 Greenwich and 262 Fifth Avenue will increase luxury condo inventory. Increased inventory at the higher end of the market will continue to pressure pricing at this level.

To remain competitive with the pool of wealthy buyers, we expect developments to continue to push the bar. Central Park Tower is a great example of this as they are trying to allure global titans to call the building home for their pied-a-terres or place to park money in the US market. Over-the-top amenities will continue to be the norm in both condo and rental buildings.

Rentals

The rental market peaked in 2017 after being on a march higher for quite some years. We all saw the rental market take a turn in 2017 with rents seemingly dropping across the board. We expect concessions to remain at all-time highs throughout 2018. Landlords will need concessions to lure tenants to their units. The continued pipeline of new inventory that will come on the market should cap rental prices from overly rises in 2018. However, the continued attraction of New York – labor market, culture, etc. will serve as a floor for rental prices so we do not expect any large scale drops in 2018. 

Must See: Volez Voguez Voyagez Exhibition by Louis Vuitton

Louis Vuitton Volez Voguez Voyagez

Heritage – something that defines iconic brands around the world. Whether in fashion, automotive, beauty, or architecture, heritage is common among the best brands and the most well-known brands. Volez Voguez Voyagez by Louis Vuitton is an exhibition that explores that heritage of the Louis Vuitton brand, sharing their unique story and the impact that have made across centuries in travel and luxury.

Louis Vuitton Luggage

The exhibition has completely transformed the old American Stock Exchange building on Trinity Place into a complete world of Louis Vuitton. Visitors step into the story of Vuitton from the beginning as they are told the story of a 14-year-old Louis Vuitton who left Anchay on the eastern border of France in 1835 to head to Paris by foot, reaching the city of lights 2 years later. From there, visitors walk through a visual representation of milestones and iconic pieces from the maison until the modern era.

Louis Vuitton Exhibition New York

The exhibition focuses on 10 aspects that have contributed to the success of the House of Louis Vuitton:

  • The Trunk of 1906
  • Wood
  • Classic Trunks
  • The Invention of Travel
  • Writing
  • The Painting Trunk
  • Curio Trunks
  • The Beauty of Fashion
  • Music
  • Louis Vuitton Loves America

From some of the first trunks created in 1892 to pieces owned by famous stars and one-of-kind collaboration pieces, the exhibit has unique and rare pieces that you will not be able to view anywhere else. The end of the exhibition features artisan showcasing how certain aspects of the bags are made where visitors can also feel the various types of leathers. There is also a small boutique at the end featuring a variety of coffee table books, small leather goods, and the newest range of perfumes.

Exhibition Hours:

From 10.27.2017 until 1.07.2018

Monday to Saturday 10:00am until 8:00pm

Sunday 11:00am until 7:00pm

Tickets are FREE – book in advance here

Summer at the Seaport District

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In the heart of Downtown Manhattan, the Seaport District has been undergoing a large revitalization and transformation. We previously wrote about all the exciting things happening in the Seaport. This summer, however, the heat has been kicked up another notch at the waterside neighborhood with the “Summer at the Seaport” sponsored by Chase Sapphire.

Have you explored any seasonal spots this summer in the city? With many looking to get in a last vacation day or Summer Friday before Labor, the Seaport is the perfect spot to enjoy a summer afternoon or evening downtown. For Summer 2017, the Seaport is serving as a destination for highly curated culinary, music, retail, and cultural experiences.

There may only be a few weeks of summer left, but there is still a lot happening at the Seaport District to checkout.

Not convinced? Check out this wonderful video from our friends at South Street Seaport:

The Garden Bar

Perhaps the main focal point of the Summer at the Seaport installation is the Garden Bar sponsored by Chase Sapphire with special VIP access for card members. The bar is situated in the middle of the iconic cobblestone streets of the neighborhood, stretching 78 feet long and draped with greenery and palms. The setting feels like a garden oasis in the middle of the bustling city. The Garden Bar will be serving up selection of rare beers, rosé, and cocktails.

Additionally, The Garden Bar is located directly adjacent to a lush stage where live performances have been happening all summer long. Outdoor drink + live music…what is better? The lineup for the rest of the summer is as follows:

Thursday August 10th at 6pm: Breanna Barbara

Saturday August 12th at 6pm: Gedeon Luke and the People

Thursday August 17 at 6pm: Southern Avenue

Saturday August 19 at 6pm: Behold the Brave

Thursday August 24th at 6pm: Annie Hart

Saturday August 26th at 6pm: Showtime Goma

Thursday August 31st at 6pm: Calvin Love

Thursday September 7th at 6pm: The Alpaca Gnomes

The Chase Sapphire Lounge is reserved exclusively for Chase Sapphire members and offers a special menu of beverages and food.

Food Lab

Speaking of Chase Sapphire, members will also be able to get exclusive access to tickets at the Food Lab which has been hosting some of the most renowned chefs all season long. Each cehf will take up a 2-week residency at the Seaport, offering guests a taste of their signature culinary dishes. With guest chef’s coming in through early fall, you are sure to catch a unique experience before the summer ends.

Alon Shaya is currently in the Seaport until August 12 with Jessica Koslow, of Sqirl fame in Los Angeles, arriving on August 20th.  A partnership with Sixpoint Brewery has allowed each guest chef to create a custom beer for their time in residency. The remaining schedule for The Food Lab is as follows:

Jessica Koslow – August 20th – September 2nd

Dale Talde – September 20 – 23rd

Wylie Dufresne – September 29th – October 11th

 

Other Attractions

The Seaport is home to other attractions to enjoy a summer day or evening. Check out these popular spots to grab a cold drink or a good bite:

  • Clinton Hall: The popular pub has opened a location right on the heart of the Seaport. Clinton Hall is known for its 20 rotating draft beers alongside 20 burgers. There are also table games
  • Front Row Food Trucks: Various food trucks are rotating into front street, parking in a Smorgasburg-style street food display.
  • Mr Cannon: There is not much description provided on this new Speakeasy, aside from its inspiration. The address is not published on the website, but rumor has it it is located at 206 Front Street.

StreetEasy - How Easy is it to find your Apartment Rental?

Streeteasy charging brokers rental listing fee

In the current state, many would argue that finding an apartment for rent on the popular New York site, StreetEasy, may not actually be so easy after all. If you have ever searched for an apartment in New York, moved to New York, helped a friend find an apartment in New York, etc. , then you most likely came across StreetEasy to browse listings on the NYC market. 

The site, an affiliate of Zillow, recently announced that they will charge brokers a $3 a day fee for an rental listing to appear on the site. This announcement comes shortly after the site implemented their "Premier Agent" offering, essentially allowing brokers to pay for potential leads, and become a point of contact on a listing that is not theirs.

Why is this announcement worth paying attention to? Below are 5 things you need to know about the recent changes to StreetEasy:

1. This impacts the NYC Rental Network

The NYC Rental Network is largely composed of StreetEasy Zillow, Trulia, and Hotpads because NYC does not have an MLS like every other real estate market in the country...if you are searching for a rental in NYC it will impact you!

2. The Change

StreetEasy will charge agents $3 a day to have rental listings appear on their site. If agents do not opt in, it will not appear on the site, and thus will not appear when you go to search here for your apartment. Many of the large brokerages in the city are not reimbursing agents for this additional cost if they opt to participate.

3. Initial Reaction has Been Large

The brokerage community silently spoke up through their lack of participation in the program. In fact, The Real Deal reported that rental listing inventory plummeted 50% in 24 hours! The comes on the heels of a boycott to their Premier Agent program as well.

4. Will this impact you? 

If you are conducting a search for an apartment rental in NYC, the odds are more likely than not that this will impact your search. Because StreetEasy and the affiliates have aggregated large amounts of data (listings), they have become the go to site for for many in the search. If agents do not participation, the listings will not show on searches on this site so you could miss out on properties that perfectly fit your needs. 

Through the lack of participation, and thus data, the website loses a sense of transparency. It once was the go-to for all listings in the NYC market, but that will no longer be the case as it will be a website with data that is simply paid for.

5. The Value of Human Interaction Increases

Brokers have become more important to your search than you previously thought. In an industry where technology certainly enhances and improves the transaction experience, the human element is still very valuable. By working with a broker, you will get access to their search and expertise. They have access to search propriety listings systems and tap into the broker community at large.