Hey Friends, Welcome to fall! Soon the leaves will begin to change, and spooky season will be in full effect. At my house, we started our changes and surprises a bit early. My wife Sherisse and I welcomed a daughter, Bowie Abrams Freiberg, on August 11 (photo to be shared upon request), but here is our Instagram announcement with a very sweet video of her brother meeting her for the first time. She's named after two of our personal heroes — David Bowie and Stacy Abrams — and we hope she embodies their qualities of fairness, uniqueness, and tenacity always.
In real estate news, the market continues to charge along, and we've seen a tremendous response to our listings — more on that below. I've also got a cool (read amazing) off-market listing to share and a wonderful recommendation for creating an upscaled intimate outdoor gathering you won't forget - plus a special discount for my family and friends! |
Does Google's Real Estate Purchase Confirm New York City is Not Just Back but Actually BOOMING? |
From residential to commercial, real estate hearts were aflutter at the news that Google had acquired the behemoth St. John's Terminal office building for $2.1 billion. The priciest real estate deal since the start of the pandemic, it's been hailed as a positive sign for the office market but also a nod to the enduring strength of the city's economy and workforce. After all, Google exercised its option to purchase the 1.3 million-square-foot building in Hudson Square even as only 28 percent of workers citywide have returned to the office and most employers see work-from-home as at least a part of their long-term strategy. The St. John's Terminal building at 500 Washington Street is expected to be completed in 2023! |
Compass Continues to Grow and Solidify Its End-to-End Offerings |
In July, I mentioned that Compass entered the digital mortgage origination business with nonbank lending company Guaranteed Rate to expand Compass' reach into the mortgage, title and escrow business. The move furthered the brokerage's ability to offer end-to-end real estate transaction services. In that vein, Compass announced this month that it had acquired First Alliance Title serving the Denver metro area and LegacyTexas Title, a leading title insurance company in Dallas-Fort Worth. Compass' title and escrow portfolio now supports agents and their clients in California, Colorado, Florida, Washington State, Maryland, Virginia, Washington D.C. and Texas. Contact me if you'd like to learn more about Compass' mortgage, title and escrow business or the fantastic network of referral agents available nationwide. |
A Summer Real Estate Market for the Books! |
While the summer months are typically among the slowest stretches in New York City's season real estate calendar, we all know our lives over the last two years have been far from typical! UrbanDigs reports that a mind-blowing 9,328 condo, co-op and townhouse sales closed in Manhattan and Brooklyn in June through August of this year. That's not only a significant rebound from last summer's 3,691 closed sales, but it also tops Summer 2019's 6,601 sales by an astonishing 41 percent. While closed sales can often reflect activity that occurred weeks or even months prior, the same activity levels can be seen in this summer's signed contract data. There were 6,483 contracts signed for Manhattan and Brooklyn homes in June, July and August of 2021 – an astounding 85 percent more than the 3,500 signed in the pre-pandemic summer of 2019! According to the Olshan Luxury Report, which tracks Manhattan property sales at $4 million and above, June through August saw 417 contracts signed at a total asking price volume of $3.66 billion. That's four times the volume seen last year and twice the 214 contracts and $1.74 billion recorded in Summer 2019. We're seeing the fall market starting up strong with a fantastic response to our newest listings, a beauty of a classic floor thru Chealsea 3 bed at 428 West 20th, a fantastic two-family at 16 Stuyvesant Ave. and an amazing penthouse at 115 Christopher St. |
Speaking of great listings, don't miss our off-market offering, a remarkable three-bedroom, two-and-a-half-bathroom loft conversion on NoHo's desirable Great Jones Street. This sprawling 2,200-square-foot residence features magnificent 12-foot-tall ceilings, extensive smart home features, an outstanding kitchen with Viking and Sub-Zero appliances, in-unit laundry, and central HVAC. The home's crowning glory is the 1,100-square-foot rooftop terrace complete with Ipe decking, surround sound, irrigation, and lighting. Located in a well-run cooperative with ridiculously low carrying costs! From this perfect NoHo location, you're inches away from outstanding shopping, dining, nightlife, entertainment and transit. |
MY NEW YORK CITY - UPSCALE PICNIC EDITION |
COVID-19 has upped the appeal of outdoor gatherings exponentially. But in the city, trying to create a special occasion in a nearby park is filled with logistics and schlepping that leave most folks reeling. That's where our friends at Picnic & Peonies come in. Specializing in creating upscale picnic experiences in Manhattan and the Washington D.C. area, this ingenious firm handles every detail flawlessly. Gatherings include delicious charcuterie, plus beautifully styled seating and table settings worthy of your Instagram grid. Book your exquisite picnic outing for two or 20 today, or consider a gift card for that hard-to-buy-for New Yorker who has everything. Discount code for my friends, family and clients: COMPASS10 |
115 Christopher Street, Unit PH $4,995,000 | 2 Bed | 2 Bath |
260 Park Avenue South, Unit 4G $2,650,000 | 2 Bed | 2.5 Bath |
428 West 20th Street, Unit 2 $2,250,000 | 3 Bed | 1 Bath |
$1,495,000 | 4 Bed | 3 Bath |
$895,000 | 1 Bed | 1.5 Bath |
160 Bleecker Street, Unit 10LE Greenwich Village IN CONTRACT $795,000 | 1 Bed | 1.5 Bath |
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© 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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