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FINANCE FRIDAY! |
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Happy finance Friday (I just made this tagline up). Mortgage rates dropped this week to their lowest level since September with the average 30-year fixed rate coming in at 6.23% (vs. 6.42% from the prior week). I would not necessarily characterize this as a tumble but mortgage applications increased 25% week over week which is certainly meaningful. Apartment showing activity has also picked up! The U.S. government hit its borrowing limit on Thursday (that limit, by the way, is currently $31.4 trillion). In a letter to congress, Treasury Secretary Janet Yellen stated that the Treasury Department started implementing “extraordinary measures” to keep paying the government bills. Congress continues to quibble over raising the borrowing limit and decreasing spending. Experts, including Yellen, are concerned that the standoff could increase the chance of a recession. The stock market is up today with the Dow closing 331 points up! The S&P 500 rose 1,89% and the Nasdaq closed up 2.66% led by Netflix and Alphabet both of which experienced sizeable gains. In NYC leading up to January 15th, there were 18 signed contracts for properties over $4M which is 3 more than the previous week (thank you to the Olshan Report for the stats). Brooklyn real estate is still hot, hot, hot! According to Streeteasy, the borough had the bulk of the bidding wars last quarter counting 8 out of 10 of the neighborhoods where sale prices went above ask with Carroll Gardens taking the top spot. As much as I love finances and numbers they can be tiresome. Take a breather and check out some of my beautiful listings or things to do around town. The Edge in Hudson Yards is incredibly cool and if you can ice skate (I cannot) all the more reason to visit. I think I have gotten old because I am so excited about the arrival of Wegmans which is opening this year in Astor Place, only a few blocks from our office! |
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Have an amazing, festive, and restful weekend. Best, Michael |
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Question of the Day |
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Should you list before spring? |
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So, it's that time of year again when I hear this very common thing of sellers telling me that they want to wait until the spring to list their property. But should you wait until spring to list their property? |
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Local Events & News |
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Best Things to do for Lunar New Year |
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If you didn’t get enough New Year’s fun, fear not: Lunar New Year (also called Chinese New Year) is coming up this Sunday on January 22nd. Events across the city will welcome the Year of the Rabbit with bursting firecrackers, lion dances and delicious cuisine. Check out community art walks, musical performances, art activities and a firecracker ceremony. More info: CLICK HERE |
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First Wegmans Store in Manhattan |
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First Wegmans store in Manhattan will have a seafood restaurant and sushi bar. Manhattan’s first-ever Wegmans grocery store is opening this year. Located at Vornado Realty Trust’s 770 Broadway in the East Village, the grocery store chain, beloved for its prepared food options and affordable prices, will replace the Kmart on Astor Place, which closed in 2021. In addition to its usual offerings, the store will feature a 94-seat seafood restaurant with an oyster counter and a 10-seat sushi bar, as first reported by Eater New York. The store is expected to open during the second half of 2023. More info: CLICK HERE |
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NYC’s highest ice skating rink at the Edge |
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A sky-high ice skating rink is opening at 30 Hudson Yards this month. Located within the indoor section of the skyscraper’s observation deck Edge, “Sky Skate” is a 1,024-square-foot rink made of synthetic ice and surrounded by breathtaking views of the city skyline. Guests can enjoy a drink in the clouds at the bar, or enjoy warm, festive treats like hot chocolate and Belgian waffles. Visitors can grab a meal at Peak, a restaurant, bar, and event space on the 101st floor. More info: CLICK HERE |
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Featured Listings |
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ACTIVE: 50 Franklin Street, Apt. 9D 2 Bed 2 Bath Listed: $1,595,000A luxurious condo in the heart of Tribeca. This stylish, high-floor residence, designed by renowned architect Ed Rawlings, boasts floor-to-ceiling windows with northern exposures, oak plank floors, and abundant storage. MORE INFO |
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IN CONTRACT: Listed: $1,095,000 A unique maisonette with a private street entrance. With sunny southern exposures and views of the Rose Planetarium, this versatile space provides a variety of options including many types of offices or a residential apartment. MORE INFO |
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SOLD: Sold: $1,850,000 An authentic loft space in the heart of Greenwich Village allows the lucky buyer to create their true dream vision in an expansive, versatile residence. The open plan of approximately 2,600 square feet and no load-bearing walls creates an opportunity for various configurations. MORE INFO |
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