April 2022

Doorman Strike in New York City

Fortunately we are able to write that a deal was made! The contract was set to expire Wednesday April 27th, and a strike would have affected more than 3,000 buildings and 555,000 apartments across the city!

The Realty Advisory Board on Labor Relations and 32BJ SEIU, the union which represents 32,000 residential building workers, announced an agreement which includes a 12.6% wage increase for building employees over the next four years. Also, it does not require workers to contribute to their healthcare benefits. The increase brings the total wages for a doorman to $62,000 by the end of the contract. Workers will also receive a one-time $3,000 bonus.

Thankfully, our staff and the important essential workers got what they deserved! Without them, we would not be able to show our listings and volunteers from the building would have to manage building security! From garbage, cleaning, to move-in and move-outs, everything would have been impacted and a domino effect would have caused some chaos. This strike would have greatly impacted the real estate community, and most of us personally as our day to day relies on them so heavily. We are grateful it did not happen, crisis averted!

Spring Activities

Visit The Orchid Show
From February 26th through May 1st you can tour the dazzling floral creations of Jeff Leatham, for the 19th year in New York City. Leatham’s bold and colorful vision will unfold through captivating installations and designs, transforming the historic Enid A. Haupt Conservatory into a different color experience and visual effect, like the turn of a kaleidoscope.

Eataly- SERRA by Birreria
The Flatiron eatery in Manhattan is a destination year-round in Manhattan, but their rooftop that’s basically a blooming greenhouse is one of the most gorgeous places to spend time at during the nice weather. Head over for a spritz, burrata, and sunshine.

Go Yankees/Mets !
Spring marks the official start of baseball season, and Yankee or Mets games are way too fun to miss out on — opening day is officially set for April 7. Make sure you add one to your calendar NYCers!

Market Report- Quick Stats

Total Luxury Sales by Property Type in April
Condo 56.8%
Coop 27%
Townhouse 16.2%

37 Contracts signed last week at $4M or above

Biggest Sale since April 2021; last week's 432 Park Ave asking $79M

3,585 Total Sales in Q1

$1,190,000 Median Sales Price in Q1

6,906 Listing Inventory in Q1, down by 4.4% from this time last year

137 average Days on Market in Q1, down by 0.7% from this time last year

COMING SOON
2 Bedroom 2 Bathroom Condo in Lenox Hill

A 38th Floor combination unit at the Rio, 304 East 65th street in Manhattan; this fully gut renovated with breathtaking city views is coming to the market end of this week.
Offered at $2,750,000.

Email me for your chance to see this property before it hits the market.

March 2022

Ukraine Relief

What is happening to the people in the Ukraine is horrifying. Please see below an excerpt from Oleksii, a key bonus member of our team, he is born and raised and currently living in Kiev, Ukraine.

On February 24, I woke up from a call from a friend and she said that all of Ukraine was being bombed and I should collect all the necessary things and get ready to leave city. I looked out the window and saw the smoke from the side of the airport and could not believe this madness. I phoned my relatives and friends.

On the 24th, my friends and I spent the night in the subway and waited for the assault on Kyiv. On the night of the 24th, the first shelling of civilian houses took place in Kyiv. The rocket hit the high building next door to the building of my friend. Destroyed several apartments, several people were seriously injured but miraculously survived.

On the 25th, I put my friends on a train to a safe area in western Ukraine. My brother and I stayed in Kyiv. Since I did not serve in the army, we had only one option - we signed up for a queuing territorial defense (there were so many men who wanted to get weapons and defend their city). We also met with volunteers and began to help them. We were looking for organizations. We wanted to help elderly, retirees as well as anyone who needed humanitarian assistance and helped them. I also became a blood donor for the first time. At the moment I try to work, if possible. I send money to the Armed Forces of Ukraine. It's difficult because the Ukrainian economy has stopped and most people are unemployed at the moment because of the war.

My friend Karina lived with a child in the city of Bucha near Kiev. Russian rockets almost razed Bucha to the ground. A shell hit the apartment building where she lived. And she- with a child- lived in the basement for two weeks with almost no food or water. The city was occupied and the Russian troops did not allow the residents to leave and shot them. She miraculously left the city and now lives in Poland.

Many of our singers, musicians, boxers, football players, ordinary people took up arms and defended their homeland.A lot of businessmen, ordinary people became volunteers. Bloggers and celebrities, ordinary people began to collect money for body armor, helmets, and night vision devices for the military, medicines, food for the needy. IT specialists began to hack government, military websites of the Russian Federation. We all started an information war against Putin's propaganda. So that the people of Russia know the truth about the war. All the people rallied and try to help the military and each other as much as possible. Volunteers risking their lives take out women with children from the occupied cities. Many volunteers were shot at the same time.

We are very grateful to our partners and especially the USA people for their support in closing the sky over Ukrainian cities, for their support in the delivery of weapons to protect our families and humanitarian aid. Please continue to support us further! It saves our lives.."

- Oleksii, resident of Kyiv and a friend of Ronita Kalra

Links to support the army and people of Ukraine:

⁃ National Bank of Ukraine. Opens Special Account to Raise Funds for Ukraine’s Armed Forces

⁃ Mono Bank(@monobank.ua) Monobank is the largest Ukrainian neo-bank with 5.5M customers. International donations to the Ukrainian army and Ukraine.

⁃ Come Back Alive (@savelife.in.ua) is a Kyiv based organization that allows you to donate to directly support the Ukrainian soldiers with immediate necessities, food, supplies:

In 2019, I committed to volunteering once a month for the entire year. My team and I did it and we were super excited to continue the tradition. Then, when the pandemic hit, we took a break but knew that the hungry were still hungry and our donations were important. Now, the world is back to normal and we are again committing ourselves to volunteering our time. Money can always be donated, and we encourage you to help in that way, however, giving up 3-4 hours of your time I find, is much harder.

I would love for you to join me next month to help in the soup kitchen as I'm sure you'll agree the reward of helping with your two hands feels different than reaching into your pocket. Even though both are VERY BENEFICIAL and needed.

Email me and I'll send you the link to sign up.

Market Report

After an initial downturn at the beginning of the pandemic, the housing market in NYC has seen price gains in the double digits on co-ops, condos and houses in the last couple of years. As we know, this was due to numerous reasons:

Covid significantly disrupted the usual patterns of buying and selling homes in New York City (and everywhere) - which sharply crimped supply, and some buyers were able to use the savings they had been stockpiling to make such a move. Now, the sale and rental markets in New York City have come roaring back to heavily surpass pre-pandemic levels. (NY Times)

Property of the Month

540 West 45th Street Apartment #203N

Welcome to Residence 203N at 540 West 49th Street in Manhattan. This New York 1 bedroom 1 bathroom 750 square foot home features white oak hardwood flooring, a wall of floor to ceiling windows and a state of the art kitchen.

Upon entry into the gallery is a surplus of closet space, followed by the primary bathroom. The restroom features a deep soaking tub with handheld and rain-head shower fixtures, a floating double sink vanity, and imported Italian porcelain tile.

Further on is the Primary bedroom which could comfortably fit a King size bed and a wall of floor to ceiling closets.

The kitchen features a silverstone quartz countertop, imported Italian cabinetry, Bertazzoni gas range and oven, integrated ultra quiet dishwasher, and lastly an integrated Liebherr refrigerator.

The living room faces North toward 49th Street in midtown Manhattann.

Additional features include individually controlled central heating/ cooling and washer/ dryer.

There is currently a tenant in place paying $5,500/month in rent. Lease ends April 30.

Situated in the heart of Hell’s Kitchen, 540 WEST is a contemporary boutique condominium that was newly constructed and completed in Fall of 2015. The glass and steel facade reflect brownstones across 49th Street in a unique seven-floor, two-tower composition. The split-level lobby transitions into an open breezeway and central landscaped, 6,000 square foot courtyard with lounging, dining, open air movie viewing area and a reflection pool connecting the North and South towers. Lifestyle amenities include a 24-hour attended lobby with fireplace and intimate lounge, fully-equipped fitness center, bicycle storage, pet spa and two landscaped roof decks with panoramic skyline and river views in every direction. There is also a dedicated and attentive staff to facilitate everyday life including a full-time concierge and resident manager.

February 2022

Low Inventory

The 2021 real estate market took New York by surprise. Once again, those pundits who predicted the demise of the city turned out to be wrong, as 2021 developed into one of the most robust sales and rental years within memory in NYC. Overall, supply in the Manhattan real estate market is down around 30% year over year, while pending deals are up 150% during the same time period. (UrbanDigs).

Less new inventory in NYC real estate is appearing on the marketplace as increasing numbers of projects sell out; at the same time, resale inventory stands at historic lows. While it is highly likely that prices will rise during the coming year, COVID variants or no COVID variants, the larger question remains: will supply rise to meet demand. (Forbes).

My Birthday!

Another lap around the sun and another human to celebrate with! Thanks to everyone for the kind wishes. No long cliche message this year, just super grateful for my life and everyone in it.

Super Bowl LVI

The Rams were victorious winning it 23 to 20 on Sunday, February 13th. The game was exciting and a close call; up until the end. This year's Halftime Show was every millennial’s dream. If you knew every lyrics to all the songs, then like me, you probably reminisced about the high school or college days when you would blast those tunes in your car in the early 2000’s.

Property of The Month
455 East 86th St #16A

In Contract OVER Asking Price

This gorgeous NYC apartment received multiple offers for rent and for sale. The sale happened to win once the purchaser decided to give the seller the number she needed to make it worth it for her to sell. This is a true testament to the lack of inventory in most of the market and the demand still out there for classic one beds in great neighborhoods of NYC!

This spacious Sixteenth floor Upper East Side One bedroom is located in The Chanel Club, a full-service condominium with both South and West exposure and open city views in Manhattan.

The Channel Club is a white glove building nestled in the Upper East Side. The building offers an indoor pool, gym, sauna, 24-hour doorman, concierge, and a children's playroom.