PROPERTY OF THE MONTH
212 WEST 11TH STREET + 214 WEST 11TH STREET
NEW YORK, NEW YORK
We have an incredible opportunity to sell two townhouses to someone wanting to create a corner MANSION in prime West Village. Here on West 11th Street in Manhattan, 212 is a multi family townhouse with four units currently being rented. Three out of four are free market and will expire within a year. 214 is a two family with an owners triplex and a garden one bedroom unit. Both houses have outdoor gardens (rare in the city.) The combination would be around 40 feet wide! The best comp in the neighborhood sold for over 35 million a few years ago and our owner is now accepting serious offers. Reach out to us for more details on purchasing this NYC mansion.
WHAT'S NEXT?
The governor has announced NYC reopening starting with phase 1 on June 8th. If all goes well, phase 2 will likely begin 2 weeks later around June 22 when NYC real estate is allowed to resume. So what now? From the number of inquiries and the conversations I have had over the past 3 weeks, I'm optimistic we are headed for a busy summer.
All of the seasoned agents and managers in the industry keep comparing this time to 9/11 and according to them, New York City and the market came back stronger than ever in the years following that horrific incident. Since there was a literal PAUSE on the industry there are many on the sidelines who need to sell and need to buy and will get right to it once we are allowed.
Will prices fall? My real estate crystal ball is a little dusty but I anticipate a slight drop in prices initially. It only makes sense since there will probably be a lot of sales where the seller needs to get out ASAP and will be willing to take less than originally planned because of the time that has been lost and potential incomes that have been affected.
The flip side of this unfortunate circumstance is now more than ever working from home is becoming more of a reality and if you plan to stay in NYC, then upgrading your space to a larger one, or one with outdoor space is probably on your radar. If your productivity and job were not affected by the pandemic than your company is likely going to give you the option to work from home indefinitely and your home is now also your office, your quarantine sanctuary and the place you will spend most of your time. This mentality, in my opinion is going to be wide spread and is going to positively effect our New York City real estate market.
PREGNANT? ANXIETY THROUGH THE ROOF?
We know anxiety can be crippling under 'normal' circumstances. For all you mamas out there and soon-to-be-moms, we know anxiety and fear can strike even harder than you usually feel it! Join me and Victoria this week on Real Talk with Ronnie while we talk about worst-case-scenario thinking, fear of the unknown, and how it feels when your 'purpose' changes.
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BLACK LIVES MATTER
I don't understand, I will never understand, yet I STAND. In the wake of the murder of George Floyd, New Yorkers have taken a stance on the injustice faced by black people in this country. With 12 days of protests, we have seen the country come together in a way that seems different than every other time. Now is the time for us and the world to educate ourselves and create change. To learn more about systemic racism head here: raceforward.org
