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| As we embark on this journey together, let's embrace the opportunities that the New Year brings, fostering collaboration, innovation, and growth. Join us in exploring the stories that make our community thrive and in looking forward to the exciting successes, meaningful connections, and boundless possibilities that 2024 may bring. |
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| | Your Q4 2023 Manhattan and Brooklyn |
| | | Have questions about how Q4 2023 wrapped up, market forecasts, or anything else real estate? |
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| 2024 Will Be a Better Year For Homebuyers |
| This was an exceedingly frustrating year for buyers, sellers, and brokers, thanks to a combination of high interest rates and low inventory, which bolstered prices even as it kept many buyers out of the market. The median asking price in Manhattan in 2023 hit $1.1 million, an all-time high, according to StreetEasy economist Kenny Lee, but the number of transactions was way down (14 percent year over year). Most sellers are also buyers, and there’s little urgency for people who locked in mortgages at 3 and 4 percent to sell. And while buyers have largely accepted what they can afford versus what thought they should be able to afford, that doesn’t necessarily mean they’re going for it, either. |
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| | Here’s a piece of good news for rate-weary buyers: Relief is on the way. After months of turmoil, the housing market should be slightly calmer in 2024. Although the factors that tanked affordability in 2023 — mainly high mortgage rates and lack of inventory — will still be at play in 2024, no one expects conditions to get any worse for buyers and sellers. In fact, many housing experts believe the new year will be a turning point for real estate: They say home sales should (somewhat) rebound, mortgage rates and prices should move lower, and more sellers will list their homes. |
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| New Development of the Month |
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| | | | Moments away from Central Park, the Theater District, Lincoln Center and Columbus Circle, The Gild at 441 West 54th Street is a serene living experience centered around wellness and influenced by elements of nature. Designed by ODA New York, The Gild introduces a collection of 28 light-filled, one-to three bedroom condominiums that blur the boundaries between inside and out. An inviting double height lobby leads into a verdant courtyard with a 70 foot skywell and green wall, visually connecting each floor to a cascade of nature and amplifying every residence’s connection to the outdoors. Expansive gliding windows, private outdoor sanctuaries, and tactile Japanese-inspired materials create a soothing, ethereal environment. With no more than four residences per floor, privacy is paramount at The Gild. Pioneering amenities, including three common outdoor spaces, provide space for intentional mindfulness and self-care, tailored to cultivate one’s best self. This is life, illuminated. |
| 1 Bed Residences start from $1,200,000 2 Bed Residences start from $1,900,000 |
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| | NYC's Most Anticipated Restaurant Openings of 2024 |
| 2023 seemed to be the year of maximalist Italian restaurants and patties with pizzazz. What will define 2024? Looking ahead, there’s a serious line-up of new openings to keep on the radar over the next 12 months: They include Contra’s relaunch as a bar; a popular Vietnamese pastry pop-up opening a bakery; and a seafood spot from heavyweight restaurateur, James Kent. As always, these openings are a moving target — a truncated version of the many we’re keeping an eye on — but they give a little something to look forward to as we dot our calendars and dream of warmer weather. |
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| | | | This event invites food enthusiasts to explore and enjoy prix-fixe meals at hundreds of diverse restaurants across all five boroughs. It's a fantastic opportunity for locals and visitors alike to taste the city's rich and varied culinary offerings. Click HERE to learn more! |
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| | It's that time again! Head to the theater district for an extended three weeks of comedy, drama, musicals and more at this year's NYC Broadway Week! Tickets for exclusive select shows are available on sale January 9. Click HERE to learn more! |
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| | | Experience the cool groove of this year's annual Winter Jazzfest! The 20th year of this exciting music marathon comprises of over 600 artists, 150 groups on 20 stages for over 10 nights at NYC's hottest jazz clubs in downtown Manhattan and Brooklyn. For all you music lovers, this is a festival you don't want to miss! Click HERE to learn more! |
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| Lifestyle Tips and Tricks |
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| Pantone Color of the Year 2024... |
| "In seeking a hue that echoes our innate yearning for closeness and connection, we chose a color radiant with warmth and modern elegance. A shade that resonates with compassion, offers a tactile embrace, and effortlessly bridges the youthful with the timeless." - Leatrice Eiseman, Executive Director, Pantone Color Institute |
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Confessions of a first time homebuyer: 3 Costs that shocked me |
| Don't let these common home costs surprise you, Here's how to budget and prepare for them as first time home buyers. |
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| 8 Interior Design Trends Going Away in 2024 |
| Are you planning to renovate your home or give it a refresh in 2024? Trends have been interesting for the past few years... |
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| 10 Buzzworthy Home Features in the New Year |
| Stylish storage, bolder patterns and textures and colors beyond the whites and grays are expected to shake up home design in 2024. |
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| | 159 West 53rd Street, Unit 35A |
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| | 65 West 107th Street, Unit 5C |
| 1 BD 1 BA 550 SF $689,000 |
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| | | | 230 Riverside Drive, Unit 5G |
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Looking to buy, sell, rent or invest in 2024? |
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| | NY/NJ | Member of True North Team Lic. Assoc. R.E. Broker l Lic. as Yelena Simpson |
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Office: 212-913-9058 Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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