Sue's News and Views, January 2023

Sue's News and Views,
January 2023

© Richard Koek

Dear All!

 I hope you all started the New Year 2023 in good spirits!
In this January Newsletter once again I am grateful to open with one of the fantastic photographs of camera wizard Richard Koek. Next month - look out for a feature on him and his art in this place!
*
Recession or not recession, that is the question. 
The R-word is omnipresent. It's in everybody's thinking. Many people are holding back on taking action. Those who don't, have maybe just done the math: 
For example – if you are looking at a house that was listed at $1.5m and can get it for $1.3m you have saved $200,000 in borrowing or downpayment.
If you buy the house for $1,300,000 and put 25% down the mortgage amount is $1,040,000 and at 5.875% the mortgage payment is $5,905 a month. When the rates come back to 4.50% you can refinance and the new payment is $5,269 a month. If you wait for rates to go down – and prices go back up you are likely to be buying the house for $1,500,000 and the mortgage amount is $1,125,000 and at 4.50% the payment is $5,700 a month. A savings of just $200 a month but with an additional investment of an additional $85,000.00 out of your pocket. It’s simple math and it all leads to the benefit of buying today at a lower price and refinancing in the next couple of years for even more savings.
Marry your house – but date your rate! (Courtesy Melissa Cohn Group)
*
 Two more points of view:
"Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through." (James O'Shaughness)

“Usually recessions sneak up on us. CEOs never talk about recessions. Now it seems CEOs are falling over themselves to say we’re falling into a recession. ... Every person on TV says recession. Every economist says recession. I’ve never seen anything like it.” (Mark Zandi, Moody's)
*
The reality is that predictions are mostly educated guesswork. Some get it right and most get it wrong. Yes, some may be a result of skillful insight and data analysis, but most of it is simply guessing and gut instinct. In this world where everyone seems to have a strong opinion, many designed simply to get attention via salaciousness, chances are the extreme prediction variation range of outcomes on any given subject will be rather alarming. We need to look and listen to all these predictions and then with our own research and data-based fact-finding draw conclusions of our own more focused on the long term. Headline-generating soundbites don't necessarily constitute trends that require our action...
No-one knows anything for certain. Lots of predictions, and by this time next year we'll know what REALLY happened. 
Till then, take a deep breath and keep on moving!

Happy 2023!
Warmly,
sue

Featured Listings:

Just Listed

Hamilton Heights

725 Riverside Drive, Unit 6E

1 BD   1 BA   678 SF   $480,000

Yesteryear meets the Contemporary. This prewar 1 bedroom, 1 bath condominium, nestled on Riverside Drive is move-in ready. When you enter this home, you’ll be greeted with all the prewar charm such as, high ceilings, crown moldings, gorgeous hardwood flooring with inlay, recessed lighting, and plenty of closets, including a walk-in. The kitchen, gracious in size, has black granite countertops, plenty of cabinetry, stainless steel appliances that include a dishwasher. The bathroom, tiled in white, has a black granite floor and a deep cast iron tub. The living room and bedroom are not only generous in size but are bright and airy. The bedroom easily fits a king size bed, has North facing sky view windows, and another large closet. 
The 725 Riverside Drive Condo is pet friendly, boasts two elevators, central laundry area in the building, a live-in super, part-time security staff (3pm-1am), and bike storage ($25/mo; waiting list). There is an assessment of $ 372.09/mo for capital improvements, ending January 2027.
Transportation: 1, A, B, C and D subway lines, and the M4, M5, M100 and M101 bus lines. The building is located by the Ralph Ellison Memorial, the beautiful Riverbank State Park, City College of New York, the Hispanic Society Museum and Library, and New York Presbyterian Columbia University Irving Medical Center. The vibrant neighborhood also offers many restaurants, cafés and bars: BoNo, Harlem Public, The Chipped Cup, Bird in Hand, MamaSushi, Chopped Parsley, Geisha Sushi, L’Artista, local shops including a farmer’s market, and so much more.

First Open House:
Sunday January 22, 11 am - 1 pm, 
by appointment only

This Sunday, in TriBeCa:
Open House January 15, 
2-3:30pm, by appointment only

TriBeCa

10 Jay Street, Unit 6C

2 BD   2 BA   ±1300 SF   $2,590,000

Top floor serene, quiet, sunny, one of a kind Loft w/high ceilings
Spectacular sky views, including a Freedom Tower view
Open chef's kitchen w/solid wood cabinetry and new appliances
Move-in ready, finest materials and finishes everywhere
Built-Ins, closet space galore, your own laundry room
Beautiful roof garden one flight up
Prime TriBeCa location
An exceptional value with astonishingly low carrying costs
NEW PRICE $ 2,590,000
Maintenance $ 2,279/mo

Real Estate in the News

Manhattan Market Report Q 4, 2022 

NYC Events January 2023

january 12-18

NYC Winter Jazzfest

What started as a one-day event in 2005 has now evolved into a one-week festival. With over 700 artists performing in various venues scattered across NYC, The Winter Jazz Fest is one of January’s prominent events that fans will not want to miss. 
Click HERE for more details.

JANUARY 16
Harlem Gospel Choir MLK Day Matinee

Let the world-famous choir—praised by musicians like Bono and Diana Ross—take you to church during its mellifluous homage to MLK.
Sony Hall, 235 W 46th St.  
Show at 1:30pm
Tickets click HERE.

JANUARY 17
Villain: DeBlanks

Funny local theater celebs play murder suspects in the Billy Mitchell's monthly Mad Libs–style whodunit, in which the audience provides much of the dialogue. The weirder (and dirtier) the suggestions are, the funnier the show becomes.
Featuring Mary Testa
The Green room, 570 Tenth Ave.
Tickets HERE.

JANUARY 21
Dauphinette's Lunar New Year Party & Vintage Market in Dumbo

Eclectic Trunk Show of over 200 pieces of vintage and archival designer clothes and jewelry, 
including a beading party,
53 Bridge St., Brooklyn
Admission FREE

JANUARY 24, 6:30
Annual Arturo Schomberg Lecture and Conversation with Dr. Deborah Willis

An annual event illuminating scholars whose work reflects the vision of bibliophile, historian, activist Arturo Schomburg.
Schomburg Center for Research in Black Culture515 Malcolm X Blvd.
Admission: FREE

Lifestyle Tips and Tricks

2023 Colors of the Year

Thinking about making some vibrant changes to your home this year? Consult the paint companies’ Color of the Year for some inspiration. Find something that fits your style, whether you’re looking to make a bold statement with Pantone’s Viva Magenta, prefer a softer vibe with Redend Point by Sherwin-Williams, or the new neutral aesthetic of Spanish Moss by Krylon. Check out all the top colors for the 2023 to amp up your home decor. 

Courtesy of Better Homes and Gardens

10 Bathroom Design Trends We’ll See In 2023

Ensure your bathroom is a space of calm and relaxation. Refresh your full bath or powder room with timeless hardware details or colorful sinks and tiles. See if any of these new bathroom trends fit your design goals.

Courtesy of Forbes

11 Best Places to Travel in Winter

New year, new vacation! Though festivities may have passed, there’s still plenty of opportunities for you to keep up your spirits with a weekend—or a week—away. From cold weather activities to sun-filled adventures, there’s a trip waiting for you.

Courtesy of Travel + Leisure

10 Winter Flower Arrangements to Brighten Up the Season

Holiday wreaths and trees may have come down, but you can still keep your home full of florals. Surround yourself with texture, color, and aroma all winter long with easy table top and front door flower ideas.

Courtesy of HGTV

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Sue Mathys

Licensed as 
Susanne Mathys-Huerzeler
Lic. R.E. Salesperson
The R-Team
M: 917.667.9407
sue.mathys@compass.com

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.