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Hey Friends,


The market is moving along at quite a strong clip especially considering we are still in the dead of winter...  Usually, a time when the market takes a breather. Right now feels like anything but that. It is partially propelled by the fear of rising 

interest rates (more on that below).  Buyers are out in force, and sellers are motivated to 

make the best of buyer enthusiasm and low inventory.


And I don't say this to discourage buyers as I still think there are solid values and great apartments out there, but now as much as ever smart guidance is an absolute must

. Please be in touch if a home search or sale is on your spring agenda.



Additionally, I am looking to expand my team and bring in another agent. So if you know anyone who wants to join an exciting small team who is one of the best in the

City please introduce me. The only caveat is we are not looking to bring on someone completely brand new to the industry.  Thanks! 


Ed

MARKET ROUNDUP
What do Rising Interest Rates Mean for You?

I am getting more questions than ever about rising rates, while overall, the market remains white-hot. 

But what do future Federal Reserve moves mean for you and your personal home buying or selling 

journey? That depends, as the New York Times recently laid out in a very informative piece.


In short, the Fed wants to control runaway inflation by raising the rates the banks charge for loans. That 

will impact all types of loans, mortgages a little less so than others. Because the Federal Reserve seems 

very likely to raise rates next month, mortgage rates will probably increase from their current 3.92 

percent soon.


There's another factor at play regarding interest rates: bonds. The federal government is anxious to get 

clear of the home mortgages it owns within bonds it purchased to shore up the housing market. Now 

that the housing market has stabilized, the Fed wants out, and the sale of these bonds may propel rates 

higher as banks attempt to lure new investors.


The good news is that higher mortgage rates don't necessarily have an enormous impact on whether 

new buyers enter the housing market or not. That is IF housing prices stop rising as sharply as they have 

been, and that's a big if! Also please remember rates are still at historically low levels and you should always talk to your bank about relationship pricing!! Or Talk to me and I will get you the right person from your bank... 


Rising Prices Are Everywhere, Including Your ConEd Bill

This one was crazy to me so I had to include it on the Newsletter! 

It seems like everyone in NYC saw their ConEd rates reach stratospheric levels this past month. Gothamist 

tells us what happened and what you can do about it.


First of all, while some ConEd customers saw totals two or three times higher than usual, they weren't 

the only company handing out bigger bills. In Long Island, PSEG customers saw 26 percent increases, and

those in the Hudson Valley clocked rates that were 46 percent more.


So what gives? Turns out, the short answer is: natural gas. New Yorkers get 70 percent of their energy

from natural gas, and when natural gas commodity prices go up — which they did — power companies 

pass that cost onto their ratepayers. Changing power companies won't necessarily reduce your rates 

because you'd most likely still use ConEd's infrastructure. And if commodities prices weren't enough, 

ConEd is also requesting rate increases from the state to improve renewable energy use and outer-

borough service.


What can those struggling to pay their bills do? There are state programs that can help, based on 

income, and utilities like ConEd also offer the option of setting up a payment plan. In the meantime, 

Governor Kathy Hochul and other state legislators are calling for Con Edison to reform its billing 

practices.


MY NEW YORK CITY – NEW RESTAURANTS & BARS EDITION!

While the last two years created an unfortunately long list of closed New York eateries and pubs, we can

finally set our sights on several hotspots set to open this year. Thrillist offers a list of a dozen openings 

that have them, well, thrilled. Among them, Laser Wolf, a Williamsburg outpost of one of Philly's best 

restaurants, has my interest piqued with their Israeli grill house menu. Named for the butcher in Fiddler 

on the Roof, the restaurant will debut on the rooftop of The Hoxton hotel.


Over in Chelsea, Melissa Rodriguez, the former executive chef at shuttered Italian restaurant Del Posto,

will be opening three new venues on the premises, including pizza joint Mel's, Discolo cocktail bar and

another fine dining Italian restaurant called Al Coro. Rockefeller Center will also see a resurrection of

sorts with three floors of eating and drinking from Pebble Bar, located in the former historic Hurley's 

space.


Headlining Eater's list of anticipated openings is José Andrés' Zaytinya location slated for the Ritz-Carlton 

in Nomad. Meanwhile, Victoria Blamey, of Chumley's and Gotham Bar & Grill fame, has opened South 

American spot, Mena, to much fanfare on Tribeca's Cortland Alley.


Featured Sales Listings
130 Jane Street, Unit 1/2C
West Village
$2,995,000 | 3 Bed | 2.5 Bath
108 India Street, Unit 2A
CONTRACT SIGNED

Greenpoint

$2,575,000 | 3 Bed | 3 Bath
260 Park Avenue South, Unit 4G
Flatiron
$2,395,000 | 2 Bed | 2.5 Bath
407 East 91st Street, Unit 1A
Upper East Side
$1,795,000 | 3 Bed | 2 Bath

Featured Rental Listings

260 Park Avenue South, Unit 4G
Flatiron
$9,000 | 2 Bed | 2.5 Bath
Licensed Real Estate Salesperson 

Licensed as Edward R Freiberg


M: 917.592.5971
ed.freiberg@compass.com

© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC

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.

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