J. Rubinstein Team

The Concept of “Wasted Space.”

For Many, It’s the Ultimate Luxury.

Hmmm, what’s this all about? Allow me to explain.

The apartments that I show my clients falls into two main categories: Pre- and post-war residences (from the 1920s all the way through the 1980s) as well as newer to just-completed residences (1990s to this very minute). Older buildings frequently offer larger layouts with more character – including entry halls that are ideal for photos and artwork, alcoves that would welcome a library, or kitchens big enough for a breakfast nook. 

And yet, I sometimes hear this comment from buyers: “There’s so much wasted space.”

For many of my clients, “wasted space” is the luxury they’ve been dreaming about. It’s a promise of living life to the fullest in a gracious building that’s been around for a number of years. But here’s the timely flip-side: many home-seekers are willing to sacrifice extra square footage for a sparkling, brand-new building - where smaller, ultra-efficient residences are enhanced by a big list of amenities like giant gyms, swimming pools, plush gathering rooms and landscaped rooftops. 

In this era of efficiency experts like Marie Kondo - as well as the buzz about tiny home living – it’s no surprise that “less is more” for many people. New and streamlined apartments certainly have their seduction powers. But let’s give an equal-opportunity salute to the creative potential and breathing room of larger apartments in older buildings, often delivering an extra 200 to 400 square feet in a two-bedroom unit. “Wasted space”? Anything but!

Wow, Summer is begrudgingly giving way to Fall. I hope you had many moments of relaxation and discovery. It’s certainly been an eventful time for me and my family. Allow me to introduce my beautiful son Joshua Bear Rubinstein, born August 8th. 

Condos With Classic Views Topped Manhattan’s Luxury Market Last Week

In total, luxury deals last week rang in at $111.5 million, based on the most recent listing prices. Last week wrapped up the fourth-best August since Olshan Realty began keeping track in 2006 with 92 contracts signed for luxury homes. 

My Newest Listings

New Development of the Month

The Slope - 445 5th Avenue - Park Slope

Recently Closed Deals

4 West 21st Street, 2D

Flatiron Condop with a Private Terrace

Status - In Contract

96 North 1st Street, 3

2 BR Williamsburg New Development

Status - In Contract

65 Eckford St - 2F

New Luxury 2 BR Condo

Status - Closed

382 Central Park West - 8M

JR 4 Condo With Open Central Park Views

Status - Closed

801 Riverside Drive - 1G

Sprawling 3 BR Condo with 12 Foot Ceilings

Status - Closed

181 Hudson - 3A

Oversized 3 BR Loft with 11 Foot Ceilings

Status - Rented

This Month's Mortgage Rate Snapshot

*The rates below are based on a $3,000,000 Condominium Purchase with a 20% down payment

10-year arm interest only or interest and principle: 6%

30-year fixed rate: 6.5% 

Data provided by Aaron Ritter of Citizens Bank

Q2 2025

Market Reports

Recorded Sales:

Justin Rubinstein

Lic. Assoc. R.E. Broker

M: 646.320.7745

j.rubinstein@compass.com