Hello All!
We’ve reached our final newsletter of 2022. We hope your holiday season has been filled with love, friends, family, and good food so far. As we come to a close on the year, we want to extend a tremendous thank you to all who have trusted us with your most valuable real estate assets, your generous referrals who we aim to take the utmost care of, and to those folks that simply look to us for trustworthy real estate guidance. We appreciate you both personally and professionally and look forward to a bright future in each others lives.
The real estate market around the country quiets down during the holiday season and picks back up with new listing inventory in the new year. After November’s Consumer Price Index report came out in mid-December (the widely watched measure of inflation), the mortgage rate on the popular 30-year fixed-rate mortgage fell to 6.28%. After watching rates rise from 3% earlier this year to over 7% in October, we’re optimisic that buyers who have been sidelined this year are beginning to feel hopeful once again.
Have a safe and happy holiday season.
See you in 2023!
'Tis The Season To Tip Your Building Staff
The Agency’s Holiday Doorman Tip-O-Meter is based on data collected from surveying over 100 NYC doormen in major neighborhoods in Manhattan. There are obviously many personal factors that go into deciding a tip amount like whether or not you tip during the year for help with moving, packages, handyman work, etc. These ranges should help you get a sense for what’s “normal” and then you can personalize to taste from there.
Homes Made For Holiday Gatherings
Whether you prefer city or country, coast or forest, this selection of homes inspires some incredible holiday hosting ideas. From high rises on Manhattan’s posh Fifth Avenue to sweeping modern estates in the sun-soaked Hollywood Hills, these residences offer distinct and diverse settings for epic seasonal gatherings.
Read on for a closer look. Shout out to our featured listing at 200 Central Park, Apt 14A with gorgeous Central Park views.
The Agency’s 2022 Holiday Gift Guide
Selecting a gift for the person who has everything is no simple task. For The Agency’s 2022 Holiday Gift Guide, we’ve curated a selection of the most collectible items, each designed to delight. Whether for a distinguished traveler, your four-legged best friend or the host with the most, these special gifts will impress the most discerning lovers of fine things on your list.
Market Update
In November, Manhattan sales were down 14% from the previous month, with 755 total sales compared to 877 in October. New listings on the market also continued to slow, with 37% fewer listings than in October, and 24% fewer than the same time last year. There were 627 new contracts signed, which was a 7% decrease from October. Inventory continues to remains low; down 6% month-over-month and 3% year-over-year. The median listed price was $1,445,200, up 3% compared to the previous month and up 9% compared to November 2021.
Glitter And Gay, Season Two
We’re more than halfway through Season Two of Glitter & Gay. You can find Tyler and Glennda on Spotify, Apple Podcasts, or YouTube.
Catch one of the duo’s most recent episodes on Fear. Fear can be paralyzing, and the greatest way to conquer it is to take a leap and a risk. Glennda looked fear in the eye and changed brokers after being in real estate for only 6 months. Tyler has learned to accept failure, knowing that failure only happens when you’re fearless.
On the Market
This month we’re highlighting our homes with Central Park views. You can find all of our listings here.
160 Central Park South, #1607
Central Park South | $2,799,000 | 1 Bed, 1 Bath | Condo
Experience the epicenter of NYC with epic Central Park views from your private residence in the esteemed Essex House Hotel. Residence 1607 is a spacious one bedroom/one bathroom unit with expansive, unobstructed Northern & Western views. Take advantage of the highly sought-after & elusive ability to rent for periods as short as 30 days and make an investment in an iconic piece of Manhattan. Life at Essex House is truly elevated – Built in 1929 as a formidable art deco masterpiece, the iconic landmark building is comprised of 509 hotel rooms & 185 private residences. As an owner, you will have access to all of the hotel amenities, including a fitness center, spa, business/conference rooms, 24-hour dorman, concierge, valet, and an in-house restaurant.
200 Central Park South, #14A
Central Park South | $3,500,000 | 3 Bed, 2.5 Baths | Co-op
Residence 14A offers breathtaking Central Park and city views! The sprawling 1,700 square foot layout has 3 bright bedrooms, 2.5 baths, and a large living and dining room. The terrace overlooking Central Park has access from the primary bedroom as well as the massive living room. Experience Central Park views from your private residence in the esteemed white-gloved cooperative building on the most desired Central Park South block. 200 Central Park South was built by developer Bernard Spitzer and designed by the architectural firm Wechsler and Schimenti. Its wrap-around tapered balcony truly exemplifies its modernism and uniqueness to Manhattan. Words can’t capture the magical views with Central Park as your outdoor living playground.