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Hope you started 2024 with aplomb. It is a blank canvas we can now fill with our life! |
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The vast majority of economic predictions for 2023 got it wrong, with most assuming a recession after the rapid rate hikes. These are the conclusions of most looking in the rear-view mirror: 1. The supply disruptions were the primary cause of inflation after all and this was indeed transitory, although over an extended period. The Fed never needed to raise rates so fast, and can now cut rapidly. 2. Massive government spending filled the gap, but the debt levels are unsustainable and will lead to either higher taxes and/or less spending that will weaken the economy and profits in the future. 3. Higher rates did not bite as hard as expected. Housing and commercial real estate were impacted the worst by far, but mostly in volume of transactions in the housing sector, not valuation (CNBC). |
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The S&P 500 ended 2023 with a bang, up a dramatic 24,2%. The DOW is up 13.7% for the year. And the NASDAQ is up 43.4% for the year. What does that mean for real estate? It means most luxury home buyers - and yes, buying a home these days is a luxury for most - are invested in the markets either via separate portfolios or retirement accounts and this always boosts confidence in the economy. We can be hopeful that interests rate will go down, raising real estate buyer confidence. But it is a process spanning across months or years. Optimists - and I'm one of them - see the market normalizing. Yet, inventory is still low, and once interest rates decline, demand - and prices - are likely to rise. New York is still the greatest city in the world. The narrative of the super-rich fleeing New York City is negated by the number of $10 million-plus sales that in 2023 were slightly higher than in 2022 and higher than 2015, 2016, 2017, 2018 or 2019. You don't have $ 10m to spend, but have been dreaming of an artist's live/work studio upstate, overlooking the catskills mountains - idyllic and quiet country living at its best? Scroll down to the listing section of the R-Team, and take a look at a home with manifold potential in Old Chatham, that will be certain to stimulate your imagination. |
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Brooklyn Weekly Luxury Market Report, Queens Weekly Luxury Market Rerport, |
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| The 10 Best Real Estate Markets for 2024 |
| A stubborn lack of inventory and high mortgage rates kept many prospective homebuyers at bay for most of 2023. But as we head into the new year, which markets are poised to see the strongest combined increase in home sales and listing prices? |
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| | | 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. Check out January 15, 7pm at Le Poisson Rouge (158 Bleeker St.) with fantastic harpist Brandee Younger performing Alice Coltrane, and more. Click HERE to learn more! |
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| The intimate Harlem Jazz Speakeasy Room623 features a variety of shows each Wednesday, Friday and Sunday eves! Four membership tiers offer great perks - including a free member night each month, and free access to the LIVE stream. If you want to help keep Harlem Jazz alive, you can donate HERE. Stop by at 217 W 119th St. |
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| The annual international-music showcase takes over three stages with artists like Thandiswa Mazwai, Karsh Kale, Lonnie Holley, Yasser Tejeda and more. This year is the 21st anniversary of GlobalFEST, which will happen across three stages at Lincoln Center’s newly-renovated David Geffen Hall on Sunday, January 14 as part of Lincoln Center Presents. Tickets HERE |
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| The Sirius Quartett creates unforgettable musical events that combine exhilarating repertoire with unequaled improvisational fire. Four string virtuosos you'll never forget. 376 9th St, Brooklyn, NY 11215 |
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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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| Women Dressing Women will feature the work of over seventy womenswear designers, spanning ca. 1910 to today, including French haute couture from houses such as Jeanne Lanvin, Elsa Schiaparelli, and Madeleine Vionnet, to American makers like Ann Lowe, Claire McCardell, and Isabel Toledo, along with contemporary designs by Iris van Herpen, Rei Kawakubo, Anifa Mvuemba, and Simone Rocha. |
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| RBG Collars: Photographs by Elinor Carucci features two dozen photographs of former US Supreme Court Justice Ruth Bader Ginsburg’s collars and necklaces taken by the contemporary photographer Elinor Carucci (Israeli, b. 1971) shortly after Ginsburg’s death in 2020. The installation also includes jewelry from the Museum's collection, reflecting freely on the expressive possibilities as well as the cultural and religious aspects of adornment. |
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| Speakeasy Magick is a moveable feast of legerdemain; audience members, seated at seven tables, are visited by a series of performers in turn. Robbins describes this as “magic speed dating.” One might also think of it as tricking: an illusion of intimacy, a satisfying climax, and off they go into the night. |
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| Lifestyle Tips and Tricks |
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| Pantone Color of the Year 2024 is...... PEACH FUZZ! |
| "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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| The R-Team's Featured Listings |
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| | 34 Sesame St., Old Chatham, NY 12136 |
| 1 BD 2 BA 2,576 SF $ 425,000 |
| Bring your architect and imagination to this enchanting former artist's live/work studio nestled in the heart of Old Chatham. With over 14 acres, this property offers an ideal blend of country chic and breathtaking vistas of the Catskill Mountains.This hilltop residence features an expansive open loft space on the main floor with oversized windows and skylights that flood the main room with natural light, framing the stunning panoramic views. The unique floor plan offers a second-floor bedroom with balcony and lower-level kitchen and laundry room with plenty of storage space. The adjoining attached garage includes a second-floor loft/ that can converted be a bedroom, office, or art studio. A garden/storage shed provides additional options. Situated off a charming private country road in picturesque Old Chatham, this unique property offers privacy with proximity to local attractions, cultural hubs, and outdoor adventures. Don't miss this rare opportunity to make this distinctive property your personal sanctuary in the beauty of the Hudson Valley. |
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| | 800 Riverside Drive, Unit 8H |
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| | 447 Fort Washington Avenue, Unit 44 |
| 3 BD 2 BA 1120 SF $839,000 |
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| | | | 324 East 41st Street, Unit 1101C |
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| | 2621 Palisade Avenue, Unit 16A |
| 2 BD 2 BA 1193 SF $750,000 |
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| | | | 5 East 131st Street, Unit 3A |
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Thanks for reading and subscribing! Ready to achieve your next real estate goal? |
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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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