What's The Deal?
Monthly Newsletter
May 2023, Volume 5

I hope this newsletter finds you well after the long weekend and you are filled with anticipation for the latest updates on the dynamic and ever-evolving real estate market in the heart of New York City.

In this edition, I will explore four captivating topics to provide you with a comprehensive understanding of the state of the real estate industry in NYC. Frank Sinatra wasn't kidding when he sang, “If you can make it here, you can make it anywhere!”  These words have never meant more than they do today!

Let's dive in…

-Dorian

The high-end market (homes at $10 million and over) has suffered disproportionately during this year of correction. Throughout the first two months of the year, few high-end listings sold, and those which did tended to have either unique qualities or the luck of the draw in finding that one buyer for whom the property was exactly what they wanted. Owners who bought since 2014 or 2015 have had to accept substantial losses on their properties in order to move them. Many forecasts are saying, It’s a good time to make a deal!

Untappedcities.com just named the 20 Hottest Ethic Neighborhoods in NYC and developers and investors alike have predicted these gems the latest hotspots for real estate investment. We aren’t just talking as Brooklyn Heights and Harlem anymore….

A recent study published by Grand View Research delves into the smart home market and the effect these homes will have not just in the NYC market, but across the globe.   With Artificial Intelligence being integrated into smart homes, it has enabled more advanced and digitally smart devices for better living. The AI trend is one to watch, and seamless automations in our living spaces will only continue to develop..  

In today’s sharing economy many New Yorkers have embraced the concept of sharing rides, experiences, co-working spaces, and new homes. Co-living simply makes this more accessible and convenient in major cities. Co-living presents a new generation of workers and travelers with a best-of-both-worlds situation. It’s all the perks of living with roommates—affordable rent, shared resources, and a built-in community—plus the peace and quiet that comes with having your own private bedroom. It’s no wonder co-living has caught on in the greatest city in the world…

I hope this selection of topics provides you with valuable insights into the current state of the real estate industry in NYC. Stay informed and make informed decisions in this dynamic market. For more in-depth analysis and personalized guidance, don't hesitate to connect.

Wishing you a successful and prosperous journey in the NYC Real Estate landscape!

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