Pizzagate
You may have heard about the panic over pizza ovens in NYC. Some even tossing slices at the gates of City Hall. Here’s what’s going on... the city’s Department of Environmental Protection, is debating a rule change proposing that restaurants with wood- or coal-fired ovens installed prior to May 2016 add devices that would reduce emissions.
While officials say it will affect under 100 of the city's countless pizza joints, pizzeria owners told New York news outlets that they expect to spend tens of thousands of dollars to install the emissions-trapping machines. Critics say the devices will cost a lot of "dough" and may affect the flavor of the world famous cheese and tomato pie. The rule in New York is not due to take effect until the public comment period ends on July 27th.
Market Report
In Q2, residential real estate sales
in Manhattan amounted to $5.2
billion across 2,548 transactions,
representing a 32.6% decline
compared to the previous year and
a 32.2% increase quarter-over- quarter. However, contracts signed, which provide a more accurate reflection of the present market, experienced a less drastic shift – with a 21.7% year-over-year decrease and a 22.6% increase for the quarter. Defying expectations, the luxury market for properties priced at $5-10 million witnessed an increase of 17.4% compared to Q2 2022, with 175 contracts signed in the second quarter. Notably, all-cash transactions have emerged as a preferred method to navigate rising mortgage rates while attainable price point shoppers negotiate their wish list. The luxury market demonstrated upward momentum as buyers with abundant liquidity regained confidence in transacting. The full quarterly report can be found here.
Property of the Month
NEWLY STAGED
Welcome to this beautiful 2 bedroom 2 bathroom home at The Palm on East 119th Street, with bright and open exposures all facing south.
This is on the second floor of the building and features Brazilian hardwood floors and oversized South facing windows.
Apartment 1K is well located on the same floor as its amenities; which include the laundry room, the windowed building gym with a TV for entertainment, as well as the vast furnished outdoor patio which serves very well for an alternative to the nearby Thomas Jefferson Park.
