Real Estate 2023: Here’s What $1M Buys In New York City
The average home value in New York City is $629,516. nearly half the $1.3 million the average buyer pays in San Francisco.
Despite New York’s reputation as one of the least affordable cities on Earth, a million bucks can still get you a bite of the Big Apple.
The trick is to know your neighborhoods.
(Full Story)
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US Rates May Be Heading Higher Than Wall Street or Fed Think
Economists are marking up their estimates of what’s known as the terminal rate — the highest point that the Fed will get to. Chief US economist Matthew Luzzetti this week raised his forecast to 5.6% from 5.1%, citing a resilient labor market, easier financial conditions and elevated inflation. Fed policymakers are sounding more hawkish as well. (Full Story)
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NYC Property Taxes: How They're Calculated And Why They're Confusing
New York has a reputation for being a high-tax city, but, at least when it comes to taxes on homes, the reality is considerably less than the expectation. NYC property taxes are, for many homeowners, surprisingly reasonable. A recent survey shows that the city has the lowest tax rates on single-family homes in the tri-state area.
(Full Story)
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An Manhattan and Brooklyn Market Update
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In this month’s Third Thursday Thoughts we answered questions like:
• Was Nov 2022 the bottom of the real estate market?
• What does inventory, demand, and pricing look like in Manhattan and Brooklyn?
• What’s the state of the rental market?
• What’s up with interest rates?
Watch the full video here and catch Third Thirsday Thoughts every third Thursday on the month!
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Client Appreciation Event
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Come watch my club perform the play "Proof" this Wednesday, Feb 23rd 8:00pm a
t the Amateur Comedy Club! It is a private club dating back to 1884.
Come as Martin’s guest. After the show, have a cocktail or two from Martin’s liquor locker from prohibition.
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529 West 42nd Street, Unit 7J
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838 Quincy Street, Unit 1
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610 West End Avenue, Unit 8D
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We are partnering with Block: a home renovation platform that helps you design, plan, and build all in one place. If you are planning a home reno, use Block to get an on-site estimate of costs before you even start. Plus use offer code APKSTEPTXU to get $500 off your materials purchase. Click here for more info.
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© Compass 2023 ¦ 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. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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