A NY MINUTE with Diane | FEBRUARY 2025
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NYC Real Estate Surge: A Great Time to Sell! If you've been waiting for the right moment to sell, the numbers speak for themselves! ▪️There were 50 times as many contracts signed this January 2025 compared to last January 2024. ▪️There were 34 times as many contracts signed last quarter of 2024 compared to last quarter of 2023. The market has made a remarkable comeback, with a staggering increase in signed contracts compared to the same periods in previous years. Demand is surging - sellers who have been on the sidelines may find now to be the perfect opportunity to capitalize on the momentum. Buyers do not despair! You can still find some well-priced lovely properties, just do not drag your feet. This is the typical market climate predicting rising prices.
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As always, you know where to find me!
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Why Compass Will Overtake Zillow as the Most Popular Real Estate Platform
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For over a decade, Zillow has been a dominant force in online real estate, providing homebuyers, sellers, and investors with market insights and property listings.
However, despite its widespread usage, Zillow’s business model has fundamental weaknesses that hinder its ability to turn a profit (and three consecutive years of declining revenue from 2021-2023).
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Manhattan office leasing jumps 24% in January
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Related’s 30 Hudson Yards grabs two largest new leases. The Manhattan leasing market continued its march toward recovery last month. Tenants inked deals for 3.6 million square feet of office space, almost a million more than last January, according to a new Colliers report. Leasing volume jumped 24 percent from December, thanks to renewals, expansions, and two large new leases at Related Companies’ 30 Hudson Yards.
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Is the stigma of a Trump-branded condo waning in Manhattan?
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“People are less fearful to speak their mind,” brokers say. The stigma associated with owning a Trump-branded condo in Manhattan appears to be diminishing, as recent observations from real estate brokers indicate a shift in buyer attitudes, less influenced by politics. Properties retaining the Trump name that previously experienced a significant decline in value are now showing signs of renewed interest, although the long-term impacts remain to be seen. Market conditions and evolving political sentiments among New York voters may also be contributing to this change in perception.
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Billionaires’ Row Sky Mansion Boasts Views of Both Central Park and Times Square
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The 5,500-square-foot co-op, comprising three units, is asking $19 million A newly renovated full-floor sky mansion on Billionaires' Row has been listed for $19 million, featuring breathtaking views of both Central Park and Times Square. This expansive 5,500-square-foot unit, currently undergoing extensive renovations with luxury finishes and wellness amenities, aims to attract affluent buyers seeking unique urban living experiences.
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NYC's Chrysler Building could get ‘fresh start’ after Cooper Union wins legal fight
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Cooper Union has emerged victorious in a legal dispute, reclaiming ownership of the iconic Chrysler Building after R&S Chrysler LLC failed to pay over $21 million in rent. As Cooper Union transitions to becoming a landlord, the institution faces the challenge of upgrading the aging building while navigating the post-pandemic real estate market, which has been impacted by higher vacancy rates and changing office utilization patterns.
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Request For Proposals Issued For 600-Foot High “Gansevoort Square” Residential Tower in Meatpacking District, Manhattan
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In late January, the New York City Economic Development Corporation (NYCEDC) on behalf of the City of New York released a Request For Proposals (RFP) for a nearly 600-foot-tall, 60-story residential skyscraper at 832 Washington Street in the Meatpacking District of Manhattan. The City is planning to redevelop the public land to create 600 homes alongside an expansion of the adjacent Whitney Museum and the maintenance and operations (M&O) space for the High Line, and new ground-floor retail space.
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The Housing Crisis Forces Change on a Low-Rise Pocket of Brooklyn
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A contentious plan to build two 10-story towers illustrates how a pressing shortage of affordable apartments has started to change the politics around development. Change doesn’t always come easily in Brooklyn’s liberal strongholds. But New York’s push to build more housing in every corner of the city — even in places that have sometimes been skeptical of new development — cleared a significant hurdle on Wednesday, when a key City Council committee approved a zoning change that will clear the way for new apartment towers on the border between Park Slope and Windsor Terrace.
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The best things to do in NYC this weekend
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The best things to do in NYC this weekend include UCBLK, the Outsider Art Fair, a Gather NYC concert, vintage train rides, and a major exhibit Looking for the best things to do in NYC this weekend? Whether you’re the group planner searching for more things to do in NYC today or you have no plans yet, here are some ideas to add to your list for this weekend: UCBLK, the Outsider Art Fair, a Gather NYC concert, vintage train rides, a major exhibit at the Brooklyn Museum, and free events around town. All you have to do is scroll down to
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Make the most of the last month of winter with the best NYC events in March including flower shows with pretty blooms. The city is just beginning to warm up and thaw out from its winter slumber with some incredible NYC events in March, including St. Patrick's Day and Women’s History Month. For sure, we'll all be heading to the best Irish pubs in the city, but there's more to do from the powerful Harlem Renaissance exhibit at the Met to the fashion-forward Orchid Show at NYBG. And finally, we can start fantasizing about packing away that puffy coat and gearing up best things to do in spring.
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© Compass 2025 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker. All material is intended for informational
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errors, omissions, changes in price, condition, sale, or withdrawal without
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