Here’s the story behind our recent $10 Million closing at One Highline in Chelsea: Developer HFZ buys a massive parcel at 18th and the West Side Highway in Chelsea for $870mm in 2015, a near-record at the time for vacant land. The plans come together for a Bjarke Ingals-designed building that was named XI, for
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There’s only one thing you need to remember as you go into 2024, at least as it relates to the New York City Real Estate Market: 99% of what you’ll hear or read has nothing to do with it. That’s right. Manhattan hasn’t been operating like anywhere else. In nearly every other market, buyers vociferously
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2023 was a year of twists and turns in the New York City’s real estate market. While we were able to navigate this challenging time for our clients, not every buyer or seller was so lucky. Many buyers expressed frustration about the lack of inventory. Many sellers chased a market down to find the right
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Hillary joined the Harris Residential Team from The Corcoran Group in May 2023, and we’re delighted that she ends the year as our team’s featured Agent of the Month- with nearly $3mm in sales! Some background about her: Ms. Waldstein is a third-generation residential real estate agent, with a mother and grandmother in the business
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How do you know you’re at the bottom of the market? We have done all of the above. Heck, we did it last month. That’s right, we already called the bottom. But this month, I prefer to use anecdotal evidence. Yeah, the kind of stuff that people like to poke holes in. The tales that
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We have a lot to be grateful for.
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Every NYC brokerage firm is being pulled into an antitrust lawsuit right now, including my firm, Brown Harris Stevens. So I cannot comment on that. However, I can talk about what is going on in the housing market. First, our latest inventory report came out. These were my thoughts: Because the absolute number of properties
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Our Deal of the Month Our deal of the month is a three bedroom, three-and-a-half bath apartment at 1289 Lexington Avenue which we just closed. Its last asking price was $5,700,000. Tip of the hat to Robert Levine, a valued member of the Harris Residential Team, for closing it. And congrats to our buyer! I
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Please find this month’s Manhattan Inventory Report (link here). Amid lots of fresh Q3 US economic data as the backdrop, it’s interesting to note that month-over-month, supply spiked dramatically. Specifically, there was an increase of 14% in the number of condominiums, and an increase of 28% in the number cooperative apartments. However, year-over-year, the total number of properties on
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This is the Story of an Off-Market Transaction. But it’s also a question of value. How much is a balcony worth? How much is a view worth? And more curiously: How much are units in a Postwar building discounted when that building sits in a sea of Prewar buildings? We just closed this $2.895mm sale
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