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.

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.