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Hey Friends, Before everyone runs away for the holiday weekend I wanted to drop you a line about what's going on in my real estate world. The market is plowing ahead. Although we have definitively passed the bottom of the market we are still not that far off so there is good value out there... for now! Especially with this amazing reawakening, we are seeing all around town I expect the market which has cooled a bit this summer to pick up once again in the fall. If you or a friend or colleague are thinking about making a real estate decision let me know and let's chat!In this month's newsletter, I'm sharing accolades, a glimpse into the resurgence of townhouses and a look at the intersection of cannabis legalization and real estate. And for true "endless summer" vibes, I've included a quick list of the best surf spots in and near the city – all of them are less than two hours from Midtown! So grab your board and dive into what's sure to be one of the best summers in decades.
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MARKET ROUNDUP |
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The Freiberg-Cella Team Ranks Among America's Best Real Estate Teams |
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The Real Trends 2021 list of America's Best Real Estate Teams is out, and we're pleased to announce the Freiberg-Cella Team has ranked amongst the top small teams in NY state and the country. So exciting! Unprecedented, challenging... are the cliche words we hear to describe this past year and frankly I'm tired of hearing them. Let's just call this year what it was.... nuts! The year was nuts! But because of the loyalty of our amazing clients (and a lot of hard work) we were able to assist many wonderful people to achieve their dream of buying or selling their home. Thank you for putting your trust in us! |
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The Return of the Townhouse |
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For more than a 150 years, New York City townhouses have been the epitome of real estate grandeur. From their rich brownstone facades and elegant high stoops to their ornate millwork and spacious layouts, these homes have been prized for generations. However, stiff competition from new-construction condominiums packed with luxury amenities shifted the limelight away from these historic homes in recent years. That is, until the pandemic. When lockdowns became the new normal, apartment dwellers faced closed signs on their indoor pools, lounges and gyms, not to mention an uneasy feeling in crowded elevators. Instead of stroller parking and pet spas, homebuyer demands were for space, space and more space. Home office space, at-home schooling space and outdoor space, please find us any kind of space! Re-enter the townhouse. In some Manhattan neighborhoods, the townhouse market peaked in 2017, and today's prices are as much as 20 percent lower. Because townhouse inventory is finite, there's a lot of opportunity and upside in the sector. And while substantial marquee deals may skew average prices, there are plenty of options under $5 and $6 million, particularly on the Upper West Side and Upper East Side, which were hard hit by the pandemic. Be in touch if a New York City townhouse is your next destination. |
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Cannabis Meets Real Estate in Newly Legalized New York State |
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Let's talk about this because who is not talking about this!! When New York lawmakers approved adult-use cannabis in April of this year, many a savvy marijuana entrepreneur turned their attention to one thing – real estate. Companies have been scouting and purchasing property to be up and running when sales commence in mid-2022. It's a smart move considering other adult-use states have required operators to have real estate secured before issuing licenses. New York State hasn't announced that mandate yet, but it may follow suit. Multi-state operator (MSO) PharmaCann, a medical marijuana provider in New York, is looking to expand their existing 180,000-square-foot facility in Hamptonburgh by 75,000 square feet. Another MSO, Green Thumb Industries, received incentives to build out a $50 million facility at a former prison in Warwick that is expected to create about 125 full-time jobs. In South Buffalo, developers are creating a 70-acre "cannabis campus" that could become home to multiple marijuana firms and up to 1,000 employees, and another cultivation site is in the works in Eastern Long Island. These cultivation and production sites don't include dispensary storefronts and office space that could help buoy the state's flagging commercial real estate sector. Marijuana Business Daily projects that cannibals sales will reach $2.3 billion a year in New York by the program's fourth full year and nearly $2.5 billion the following year. |
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MY NEW YORK CITY – SURF'S UP EDITION |
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Great surfing may not be New York City's top claim to fame, but there are numerous surf spots in and near the city that draw those willing to dive into a different type of surf culture. Grittier than your average Hawaii vibe and more crowded than Malibu waves at dawn patrol, New York delivers surprising beach breaks and swells. In fact, in 2018, Surfer Magazine named New York one of the best surf cities in the world. With some of the East Coast's best waves hitting in late summer and fall, you still have time to scout out your favorite city surf spot. Here are four to check out, all less than two hours from Midtown. The Rockaways, Queens: The Rockaways are the quintessential New York City surf spot. Located just blocks from the A train, you can arrive at any of The Rockaways' three designated surf spots in under an hour by subway. Waves average mild to medium in difficulty, but conditions are nearly always crowded, so good surf etiquette is a must. To brush up on fundamentals, take a lesson or two at New York Surf School. If the waves aren't cooperating, nearby Fort Tilden is the perfect spot for a beach picnic and smashball. Lido Beach, Long Beach: Located just minutes outside the city in Nassau County, Lido Beach is known for its enjoyable, calmer waves that are perfect for novices. Typically a bit less crowded than neighboring Lincoln Beach, Lido also offers concessions, camping and a nearby boardwalk. Board the LIRR at Penn Station, and you'll arrive just blocks from the beach in under an hour. Sandy Hook Beach, New Jersey: Sandy Hook is known among surfers as one of the area's only point breaks. A manmade jetty creates coveted long-ride conditions here, and the surrounding Gateway National Recreation Area provides peaceful open space and campgrounds but few other amenities. Best reached by car, this unique surf destination is less than 90 minutes from Manhattan. Belmar, New Jersey: There are a number of spots to surf along the Jersey Shore, but Belmar earns high marks for its great combination of surfing and nearby amenities. Grab your board and enjoy a consistent beach break with fast and steep right-hand waves in Belmar, while nearby Manasquan Beach and Jenkinson's Boardwalk add to your options. New Jersey Transit trains will get you into the Belmar Station in two hours, and a wealth of dining and nightlife options will keep you happy and fed throughout your stay. |
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Featured Sales Listings |
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Featured Rental Listings |
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