The Monthly Update - January 2024

 Five Critical Factors For a Fantastic 2024 

New York City is the heart and focal point of so many global influences, including real estate, finance, tech, the arts, and so much more. So, what needs to happen for Manhattan’s real estate market to have a rebound year after the lows of 2023? Here’s my view on the key factors that will help the Manhattan market improve next year.

 #1 Interest Rates:

With the Federal Reserve signaling lower rates in 2024, the overall real estate market in New York City has already seen a slight uptick in buyer interest, particularly for newer listings. The higher interest rates of the last year affected the overall market, but they impacted properties listed at $2 million or under most of all. The one element with the most potential to help the Manhattan and Brooklyn real estate markets rebound will be whether the Fed actually lowers the federal funds rate and banks follow suit, passing the savings on to buyers in the form of lower mortgage rates. So far, mortgage rates have dipped to their lowest levels since May purely on the strength of three successive Fed rate hike pauses.

#2 The Strength of The General Economy:

The S&P 500 is often seen as the barometer for the general economy. It also provides insight into the health and direction of the New York City real estate market. Simply put, the S&P is a bellwether for our local real estate market. With the Fed hinting at lower interest rates, Wall Street has had a series of rebounds, making up all that had been lost in 2023 in about 24 hours! If Wall Street is happy, it tends to have a trickle-down effect on the local real estate economy. If Wall Street has a banner year, so will Manhattan’s real estate market. As of this newsletter, it seems the Fed’s moves over the last year have started to rein in inflation while avoiding a recession. Bringing all this together would be a win-win for the Manhattan real estate market in 2024.

#3 The 2024 Presidential Election:

In typical presidential election years, agents try to get most business done in Q1 and Q2 before voting takes place. Not much has changed in that respect this year. However, with all that's happening in this particular election, even Q1 or Q2 could be a crap shoot. This may or may not happen, but it could be possible that when Q3 rolls around, buyers could enter wait-and-see mode, possibly re-emerging in Q4 2024 through Spring 2025. But who knows? This is probably the hot-button issue that is hardest to predict. With two former presidents and known entities running against each other, most people can’t put their finger on how the election is going to affect the real estate market this year.

#4 Geopolitical Unrest/Wars:

Global unrest causes ripples in global economies. One can see the unrest in the Middle East/Israel and Ukraine, and its subsequent economic impact, extending through next year. And you can never know where the next conflict will unfold and how it will affect the global or local economies. It’s something to watch out for, for sure. But it’s not an issue we can necessarily foresee. Unrest can unfold anywhere at any time, especially as the world seems to be moving towards more tribal situations. 

#5 The Ongoing Return-to-the-Office Dynamics:

If you look around the skyline of Manhattan, new office buildings are rising everywhere, including the massive new Chase JP Morgan Bank building on Park Avenue.  According to several sources, many Manhattan workers are back in the office at least part of the time, with return-to-work levels reaching almost 80% of January 2020 levels as of June 2023. If you look around Midtown at lunchtime or after work, it honestly feels more like 110% of pre-pandemic levels. Even more workers are expected to return to the office in 2024, which could substantially impact both the rental and sales markets. So, we're watching this indicator like a hawk. 

Looking Ahead:

Manhattan and the overall New York City real estate market stand at a crossroads. Movement in either direction is contingent on several macro and micro factors, all vying for influence. Interest rates, global economies and localized events all will play their part in how 2024 pans out. Today, the NYC real estate market’s trajectory is being shaped by many elements. While challenges persist, we are watching the resilience and dynamism of a Manhattan real estate market seemingly on the verge of bouncing back.

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Local Happenings:

NYC Broadway Week

JANUARY 16 - FEBRUARY 4

It's that time again! Head to the theater district for an extended three weeks of comedy, drama, musicals and more at this year's NYC Broadway Week! Tickets for exclusive select shows are available on sale January 9.

Learn More

Winter Jazzfest

JANUARY 10 - 18

Experience the cool groove of this year's annual Winter Jazzfest! The 20th year of this exciting music marathon comprises of over 600 artists, 150 groups on 20 stages for over 10 nights at NYC's hottest jazz clubs in downtown Manhattan and Brooklyn. For all you music lovers, this is a festival you don't want to miss!

Learn More

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Lifestyle Tips and Tricks:

Pantone Color of the Year 2024...

"In seeking a hue that echoes our innate yearning for closeness and connection, we chose a color radiant with warmth and modern elegance. A shade that resonates with compassion, offers a tactile embrace, and effortlessly bridges the youthful with the timeless."

- Leatrice Eiseman, Executive Director, Pantone Color Institute

Read More

8 Interior Design Trends Going Away in 2024

Are you planning to renovate your home or give it a refresh in 2024? Trends have been interesting for the past few years...

Read More

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Listing Spotlight:

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East Midtown Greenway Opens, With Nearly 3 Acres of Public Space

New York City has taken a major step forward in its effort to expand the greenway network. The city’s Economic Development Corporation (NYCEDC) and NYC Parks on Tuesday officially opened the East Midtown Greenway and the second phase of the Andrew Haswell Green Park, delivering nearly three acres of public open space, a new pedestrian walkway, a pedestrian bridge, landscaping, and a separated bike lane stretching from East 53rd Street to East 60th Street along the East River. The $197.6 million investment fills a significant gap in the Manhattan Waterfront Greenway.

Image courtesy of Skanska

“The newly unveiled East Midtown Greenway and second phase of Andrew Haswell Green Park stand as a testament to the power of community and interagency collaboration for urban development,” NYC Parks Commissioner Sue Donoghue said.

“From the innovative pedestrian walkway to the revitalized landscaping with an artistic touch at Andrew Haswell Green Park, these transformative projects continue to further the city’s efforts toward completing the Manhattan Waterfront Greenway.”

The greenway features a 20-foot-wide bikeway and a 20-foot-wide pedestrian zone with a walkway, a planting area, a pedestrian bridge on East 54th Street, and a public art installation created by artist Stacy Levy called “Diatom Lace.”

Andrew Haswell Green Park, which represents roughly $42.6 million of the total investment, includes renovations to the East 60th Street ramp, a new lawn, landscaping, lighting, and an amphitheater with seating, according to Patch.

Designed by Stantec and constructed by Skanska in collaboration with the city, the project expands the East River Esplanade by 1.1 miles. The design phase of the project began in 2017, and work broke ground in 2019.

Both projects are the result of extensive community outreach to members of Manhattan Community Boards 6 and 8 as well as local elected officials.

The opening of the East Midtown Greenway builds upon a larger initiative by the Adams administration to expand the city’s greenway network by 40 miles and bring the total length of greenway corridors to 60 miles. The corridor completes a gap in the Manhattan Waterfront Greenway, a continuous 32.5-mile loop around the borough that will connect a network of green spaces with more than 1,000 acres when completed.

“In Manhattan, green space is at a premium; if we have to get creative and add to the island to deliver it, that’s what we’ll do,” Deputy Mayor of Operations Meera Joshi said. 

“A crucial component of our broader Manhattan Waterfront Greenway, which piece by piece is delivering a 32.5 mile loop around Manhattan, the Midtown East Greenway and Andrew Haswell Park will welcome more New Yorkers than ever to bike, run and walk with the sun in their faces– and further develop our city’s work-play waterfront.”

In August, Mayor Eric Adams announced that the city had received a $7.25 million federal grant to be put towards the creation of five new greenway corridors in the outer boroughs that will fill in the existing gaps and better serve historically underserved, low-income neighborhoods.

NYC will begin conducting public outreach for its first outer-borough greenway project, the 16-mile Queens Waterfront Greenway, in early 2024. The project will connect Gantry Plaza State Park in Long Island City to Little Bay Park in College Point.

Other projects include the Harlem River Greenway in the Bronx, a seven-mile continuous walking and biking path that will link Randall’s Island and Van Cortlandt Park. The transformative project aims to reconnect Bronx residents to the Harlem River waterfront, which has been largely inaccessible since the construction of the Major Deegan Expressway in the 1930s. The city has already begun hosting workshops and pop-up engagements for the project.

The Harlem River Greenway will connect to another future project, the South Bronx Greenway, which will span 15 miles from Randall’s Island Park to SUNY Maritime in Fort Schuyler, further expanding Bronxites’ accessibility to waterfront space.

Additional projects include the Historic Brooklyn Greenway, stretching 11 miles from Coney Island to Highland Park, the Staten Island Greenway, spanning 10 miles from the Goethals Bridge to the Verrazzano Bridge, and the Southern Queens Greenway, running seven miles from Spring Creek Park on the Jamaica Bay shoreline to Brookville Park in Springfield Gardens.

Over the next two years, NYC will begin a new implementation plan for each proposed corridor every six months. The city will conduct extensive outreach with local community members where expansions are planned.

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East Midtown Greenway opens, with nearly 3 acres of public open space on the waterfront

By Aaron Ginsburg

December 20, 2023

All photos courtesy of Skanska

The Whitney Museum Announces Free Admission on Friday Nights

The Whitney Museum of American Art will offer free admission and special programming on certain days every month next year. Beginning January 12, the Meatpacking District art museum will drop its “pay-what-you-wish” system on Fridays from 5 p.m. to 10 p.m. and on the second Sunday of every month. During those times, admission will be free for all visitors.

Free Fridays will feature special programming and music, with food and drinks available for purchase at the museum’s new restaurant, Frenchette Bakery at the Whitney.

Photo by MusikAnimal by Wikimedia Commons

Second Sundays will offer free all-day admission to visitors and special programming for families. On the second Sunday of every month, guests can enjoy all-ages arts & crafts activities, tours, classes, and other special events connected to exhibitions on view at the Whitney or significant community events like Earth Day or Pride Month.

The inaugural installment opens on Martin Luther King, Jr. weekend and celebrates Black artists whose work is featured in the Whitney’s collections and current exhibitions, like “Henry Taylor: B Side.”

Other programs on view during the launch of both Free Fridays and Second Sundays include “Fragments of a Faith Forgotten: The Art of Harry Smith, Inheritance, Ruth Asawa Through Line,” and “Natalie Ball: bilwi naats Ga’niipci.” Also on view will be the museum’s permanent collection exhibitions, featuring artists such as Edward Hopper, Kara Walker, Georgia O’Keeffe, Kevin Beasley, Faith Ringgold, Lee Krasner, Jasper Johns, Alexander Calder, Jacob Lawrence, Carrie Mae Weems, Andrea Carlson, and Clarissa Tossin.

According to Whitney officials, the “pay-what-you-wish” model has long confused visitors. While some interpret the term as meaning free, others are put off by the uncertainty connected to the phrasing.

“Pay-what-you-wish is not a phrase everybody understands,” Scott Rothkopf, director of the Whitney, told the New York Times. “It’s important to be straightforward and say we’re free for anyone, at any age, wherever you come from, during those times.” 

The Whitney hopes free admission will make the museum more enticing to potential visitors and open the doors to a wider audience.

Tickets during the free admission periods must be reserved in advance.

Free Fridays are funded by three-year gifts from Whitney Trustees Jen Rubio, Stewart Butterfield, Paul Arnhold, and Wes Gordon. Second Sundays are made possible by a three-year grant from the Art Bridges Foundation’s Access for All program.

“We are thrilled to support the Whitney in bringing Free Friday Nights to life. I became a trustee at the Whitney because of the museum’s mission to challenge culture, to bring together diversity of perspective, to encourage questioning and reflection. Free Friday Nights will further that mission: opening the doors to an even larger audience, most importantly one that is younger and more diverse,” Jen Rubio said.

While the city’s museums have experienced a gradual return to their pre-pandemic audiences, visits by international tourists are still lagging. The Met claims that their attendance is roughly 90 percent of pre-pandemic levels for New York residents and national visitors, but at just slightly more than half for foreign tourists.

The Met used to have an entirely pay-what-you-wish admission model but began charging non-local museum-goers a mandatory admission fee in 2018 after seeing that fewer visitors were paying the recommended $25 admission price. The Met has since increased their prices for visitors from outside the state to $30.

Similarly, the MoMA increased its adult admission price to $30 from $25 in October. It also raised the prices for many other categories, including tickets for people 65 and older and students.

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The Whitney Museum announces free admission on Friday nights, second Sundays

By Aaron Ginsburg

December 15, 2023

Photo by MusikAnimal by Wikimedia Commons

Stay In A ‘Wonka’ Inspired Suite at NYC’s Park Lane New York Hotel

Booking.com is giving candy lovers the chance to travel to a world of pure imagination with a stay in a Willy Wonka-themed hotel suite. Inspired by the release of Warner Bros. Pictures’ film “Wonka” this month, the exclusive offer includes a two-night stay at the Park Lane New York in Midtown in a room transformed into a sugary wonderland. Booking at the sweet-filled suite opens on December 13 for a two-day stay on December 15-16, priced at $12.15 in honor of the film’s release date.

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As part of the offer, Park Lane New York’s Conservatory Suite will offer its guests an all-you-can-eat candy experience, with edible amenities like limited-edition Wonka Magic Hat Gummies, life-sized chocolate confections, a replica of a tree in Wonka’s candy shop, and a chocolate bar bed topped with marshmallows. The deal also comes with tickets to see “Wonka” in theaters, vintage destination posters, stamp wallpaper inspired by Wonka’s travels, candy-inspired beverages, and much more.

“Wonka,” starring Timothée Chalamet in the title role, tells the origin story of the famous chocolatier. During the film, audiences will be introduced to a young Willy Wonka after he returns from his worldwide quest to source different ingredients and flavors for his sweet creations.

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Guests who are members of Booking.com’s loyalty program Genius will get extra treats, including a free infused breakfast.

Booking.com is offering another lucky pair of guests a stay in a transformed suite at the Viceroy Santa Monica hotel in Los Angeles.

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Stay in a ‘Wonka’ inspired suite at NYC’s Park Lane New York hotel

By Aaron Ginsburg

December 4, 2023

All images courtesy of Booking.com

Fifth Avenue’s Sparkling Snowflake Is Brighter Than Ever

Fifth Avenue’s famous snowflake, a cherished New York City holiday fixture for 40 years, is back and brighter than ever. The Fifth Avenue Association and the Stonbely Family Foundation on Sunday celebrated the lighting of the refurbished snowflake, which features 16,500 sparkling crystals and new high-intensity full-color LED lights. The twinkling 30-foot-wide snowflake is suspended 50 feet above Fifth Avenue and 57th Street from four buildings: the Aman Hotel, Bergdorf Goodman, Bulgari, Louis Vuitton, and Tiffany & Co.

The upgraded snowflake now features more than 600 new double-sided miniature LED lights, tripling the number of lights on its branches. Additionally, halogen lights around its newly polished steel-and-chrome core have been replaced with projection LEDs, according to the New York Times.

With these upgrades, the snowflake is now capable of much more. Its all-LED configuration allows for light shows at the beginning of every hour, lasting for a couple of minutes, featuring a full range of colors instead of just white.

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Image courtesy of the Fifth Avenue Association

The huge snowflake first made its debut at the intersection in 1984. Over the years, the attraction has become synonymous with the holiday season in Manhattan, and in 2001, it received its first redesign and rededication for the world’s children.

The restored snowflake is now part of the Fifth Avenue Snowflake for Humanity, an organization that donates all funds raised from the installation to humanitarian, fine arts, and performing arts organizations.

This year’s installation will be even more accessible due to the expanded “Gift of Fifth” Fifth Avenue Open Streets. As part of the program, Fifth Avenue will close to cars and transform into a winter wonderland on December 10 and 17 from 12 p.m. to 6 p.m.

For the duration of the event, Fifth Avenue from 48th Street to 59th Street becomes a holiday destination, with fun decor, festive food and beverages, photo-ops, store giveaways, and more.

“Fifth Avenue sparkles with the lights of the holidays and the snowflake at Fifth Avenue and 57th Street is its north star,” Marie Boster, President of the Fifth Avenue Association, said. 

“We look to the snowflake’s brightness, uniqueness, and splendor – just like the iconic avenue – to let us know the holiday season is here. Many of our members came together to support hanging the snowflake during the Gift of Fifth so all New Yorkers can enjoy it, and I thank them for their contributions.”

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Fifth Avenue’s sparkling snowflake is brighter than ever

By Aaron Ginsburg

December 6, 2023
Image courtesy of the Fifth Avenue Association

'Tis The Season of Tipping!

BUILDING STAFF:

Our recommended ranges are below and vary based on building size and service level. If you're in a small white glove building, veer towards the high end of these ranges or above vs. if you're in a large building with a sizable staff.

Resident Manager/Super & Handyman:

These are the people who are responsible for making sure your building runs like a well-oiled machine. Whether they come in on occasion to change a lightbulb or unclog the shower drain, they are critical to our everyday lives even if we don't see it. Depending on the structure in your building, these two should each get $100-$300 (if you rent) and anywhere between $200-$1,000 (if you own), with the resident manager/super getting slightly more for his more senior role in the building. If you tip throughout the year or just completed a major renovation, adjust the amount accordingly.

Doormen:

On average, each doorman gets $50-$150 (if you rent) and $175-$500 (if you own), but people tend to give more to their favorites... everyone has that funny doorman that jokes with you or the extra helpful doorman that helps you with your heavy bags. Don’t forget that the overnight and weekend guys are also standing at the door on the ready, so even if you rarely see them, make sure to take care of them as well. Also remember that these numbers should flex based on the same of your building, the size of its staff and the service level!

Maintenance Staff & Porters:

You may not see these people often, but they are very important members of your building staff. They are the ones in the basement keeping your water hot, and in the staff elevator bringing up all of your Amazon packages or picking up your trash. Make sure they know that their hard work is greatly appreciated by tipping them $50-$100 (if you rent) and $150-$350 (if you own).

Garage Attendants:

Depending on how often you use your car, each parking attendant should be tipped $25-$100. Adjust accordingly if you find yourself tipping every time you pick up the car. Garage staff lists tend to be long, so it’s okay to give more to those that you interact with frequently, or those who go above and beyond their duty by helping you load/unload your car every weekend.

HOUSEHOLD STAFF:

Nanny:

Full-time nannies in NYC generally get paid a holiday bonus of one or two week’s salary. This is in addition to any paid holiday days off that they're also receiving at this time of year.

Babysitter:

If you have an occasional babysitter who watches the kids when you go out, it’s appropriate to give them what you would normally pay them for a Friday or Saturday night.

Housekeeper:

A bonus of one week’s pay is the standard NYC holiday tip for a cleaning person who comes at least once a week.

Driver:

For those of you who have a regular driver you either employ directly or have designated on a daily/weekly basis, a driver’s holiday tip should equal one week’s pay.

Dog Walker:

If your pooch is pampered, not peeing on the living room floor, and tired at the end of the day, then you are also a happy camper! Make sure those long walks don't go away and be sure to tip your dog walker a week’s pay this holiday season.

Health & Fitness (Hair Stylist/Trainer/Manicurist):

We rely so heavily on those who make sure we're always looking our best. Whether it is your hair stylist, hair colorist, personal trainer, manicurist, etc., it's important to make sure these VIPs feel appreciated during the holidays so be sure to double their tip when you see them around the holidays. A small gift (ie. candle, a bottle of wine) is always a nice touch too! 

MTA Installs New Turnstiles Designed To Stop Fare Evasion

The traditional turnstiles at a subway station in Queens have been fully replaced with new wide-aisle fare gates, the Metropolitan Transportation Authority announced Monday. Designed to increase accessibility and prevent fare evasion, the new fare gates were deployed at the Sutphin Boulevard Archer Avenue-JFK Airport subway station in Jamaica. The fare gates replace the emergency exit gate at the end of the station; more than half of all fare evasion occurs through these emergency gates, according to the MTA.

In May, the MTA unveiled the design prototype for its anti-fare-evasion turnstiles, following the release of a report by the MTA’s Blue-Ribbon Panel on Fare Evasion that found that the transit agency had lost $690 million in unpaid fares and tolls across the system in 2022. Approximately 400,000 daily riders, or 10 to 15 percent of riders, did not pay a fare.

“New York City Transit’s North Star is improving the customer experience, and we are doing just that at Sutphin Blvd by introducing new, easier-to-access, fare gates and by opening our 14th Customer Service Center,” NYC Transit President Richard Davey said.

Photo courtesy of Ray Raimundi / MTA on Flickr

“Customers traveling to and from JFK with their luggage, commuters transferring from the LIRR at Jamaica, and local commuters can look forward to faster, more accessible journeys, and a more welcoming station environment.”

The new fare gates feature wide aisles, making it easier for those with strollers, wheelchairs, and luggage. Additionally, at the north end of the station’s mezzanine, four traditional turnstiles installed with OMNY technology have been installed to improve customer flow.

The installation marks the first full deployment of the new fare gates in the subway system following a test pilot at the Atlantic Avenue-Barclays Center station in March 2023. The MTA plans to assess the effects of the new fare gates to determine the possibility of replacing turnstiles at other subway stations in the future.

In addition to the new fare gates, the MTA has opened a new customer service center in the Jamaica station, the 14th center in the entire subway system. Historically, subway customer service has been limited to NYC Transit’s service center at 3 Stone Street in Lower Manhattan. With the new service centers, transit officials can assist commuters directly at stations within their home boroughs.

New York City Transit plans to open another center before the end of the year.

The service centers feature repurposed booths, new retail outlets, improved accessibility, OMNY technology, and a more welcoming visual aesthetic for customers. This includes new lighting, branded wrapping, and canopies with customer service agents ready to assist with signing up for Reduced-Fare, converting riders to OMNY, and other general inquiries.

NYC Transit plans to open another customer service center in the system before the end of the year.

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MTA installs new turnstiles designed to stop fare evasion

By Aaron Ginsburg

December 5, 2023

Photos courtesy of Ray Raimundi / MTA on Flickr

305 East 72nd Street, Unit 10BC

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305 East 72nd Street, Unit 10BC

UPPER EAST SIDE, MANHATTAN

$1,645,000

2 Bed  |  2 Bath | Co-op

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Move right into this gorgeous contemporary two-bedroom, two-bathroom Lenox Hill residence featuring an expansive layout and exceptional storage in a full-service cooperative surrounded by the best of Upper East Side living.

Spanning approximately 1,376 square feet, this beautifully combined apartment welcomes you inside with gleaming hardwood floors, tall ceilings and oversized windows framing open-sky views to the north and south. A gracious foyer with a large walk-in closet invites you to relax and unwind in the large living room featuring wide art walls and recessed lighting. Plan your next dinner party under a designer chandelier in the spacious dining area wrapped with walls of closets, a wine refrigerator and convenient buffet counters. The open kitchen impresses with crisp white cabinetry, a built-in pantry and a distinctive curved peninsula topped by Jerusalem limestone. Cooking and cleaning are effortless thanks to upscale stainless steel appliances, including a gas range, bottom-freezer refrigerator, dishwasher and built-in microwave.

Head to the serene owner's suite to discover south-facing views and a wall of custom wardrobes and drawers. The en suite bathroom is perfectly arranged with a double vanity, wide medicine cabinet, walk-in shower, a two-stage commode and handsome stone tile. The spacious secondary bedroom features ample closet space of its own, plus easy access to the updated full guest bathroom featuring a large tub/shower, contemporary vanity and illuminated medicine cabinet. A full-size in-unit washer-dryer and integrated sound system add comfort and convenience to this spectacular Lenox Hill haven.

Charing Cross House is a beautifully maintained luxury, postwar co-op featuring 24-hour doorman service, live-in resident management, a regal marble lobby, a 24-hour fitness center, laundry, storage and a bike room. Atop the building, you'll find a state-of-the-art, eco-friendly rooftop garden, where skyline views surround lush landscaping, seating and event areas, solar panels, stormwater irrigation and Wi-Fi. Pets, pieds-à-terre, guarantors, parents buying for children and co-purchasing are permitted with board approval.

From this desirable Lenox Hill location, enjoy the fantastic shopping, dining and entertainment the Upper East Side is known for. Explore iconic outdoor space and recreation at Central Park five blocks west, while the East River promenade delivers waterfront vistas just three blocks east. Morton Williams, Target, Nordstrom Local, Equinox, Madison Avenue boutiques and Museum Mile institutions are all within easy reach. Transportation is effortless with the Q train right outside your door, plus 6 and F trains, excellent bus service, CitiBike stations and the FDR all nearby.

The Monthly Update - December 2023

A New York City Real Estate Market with No Identity

Historically, during this time of year, the market slows down, but buyers and sellers still find common ground on pricing. Buyers offer, sellers counter, and a meeting of the minds is reached. However, this season, from late fall to early winter, the market has been different.

First, there's the low inventory issue: With only approximately 6,800 total listings in Manhattan, sellers are not partaking in today's market because of lower prices. Over the last 30 days, sellers have removed almost 900 listings from the market. The current overall inventory is approximately 5% below historical norms. Next, there's the transaction rate or “market liquidity,” which is significantly lower than in prior years. In the 30 days prior to this newsletter, 683 listings were put under contract. That's 10.8% less than the prior month and 0.6% lower than last year. Finally, there's the issue of fewer buyers and higher interest rates. There are significantly fewer buyers at open houses and in the market in general. Many say this is due to listing prices staying the same despite higher interest rates. 

So, it's not a buyer's market, although buyers are getting decent deals when it comes to sellers who have to/need to sell. But it's not a seller's market either, although many sellers see the lower inventory numbers and are trying to hold the line on pricing because they feel their unit is worth every penny. As the market searches for direction, buyers blame sellers for not coming to the reality of today's market. And their argument has some merit. Sellers are stubborn on pricing, for inventory which has moved it was partially due impart to price improvements. 

Most listings that have gone under contract over the last month are priced anywhere from 3% to 7% lower than last year's inventory. As Steven James, former sales director for Douglas Elliman and currently the President and CEO of Berkshire Hathaway HomeServices New York City, puts it, “You have worry on the part of buyers and worry on the part of agents and sellers who aren't willing to see the reality of pricing.” This stubbornness creates a low transaction environment, not quite a stalemate, but it's definitely slower. James goes on to say that “inventory is down, but pricing is stable.” 

The Manhattan market is primarily made up of co-ops, which require at least 20% to 30% down payments. And with the high incomes in New York City, sellers often don't need to sell. Because of this, some would say sellers are preventing a more liquid or higher transactional market from happening. Many buyers would love to dip into the sales market, especially with a hectic rental market, where prices will likely rise again this spring. This all creates an environment with significant pent-up buyer demand. We saw this bear out over a few weeks in the middle of November, when there was a slight adjustment in interest rates down to around 7.125%, which galvanized some buyers to place offers and get deals done. 

For the buyers who stick it out, make offers and negotiate deals, there are great (hidden) opportunities in today's market. Many sit on the sidelines as they look at listing prices that have only adjusted slightly off historical norms, but good things can happen for those who do partake! 

So, as this market searches for its identity, smart purchasers are out there hammering out deals with sellers who — seeing that the market won't likely change much over the next 12 months — liquidate and move on. 

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Local Happenings

Best Holiday Markets in NYC

The best holiday markets are right here in NYC—full of both the holiday spirit and the most unique gifts out there.

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Dyker Heights

Christmas Lights

Considered one of the best New York City attractions during the holiday season, the Dyker Heights Christmas Lights is back and better than ever!

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Fifth Avenue To Transform Into A Car-Free Holiday Wonderland

Attention revelers: the streets of Midtown will soon be filled with fun, pedestrian-friendly cheer. As part of a special holiday open street, Fifth Avenue will close to cars and transform into a winter wonderland on three Sundays in December. The Fifth Avenue Association last Tuesday revealed the “Gift of Fifth” campaign that will turn the historic corridor from 49th Street to 59th Street into a holiday destination, with jolly decor, festive food and beverages, photo-ops, store giveaways, and more.

Photo by Josh Wilburne on Unsplash

Last week, Mayor Eric Adams announced plans to fully pedestrianize Fifth Avenue from 48th and 59th Streets, expanding the open street by three blocks to reach Central Park. Additionally, select streets around Rockefeller Center and Radio City Music Hall will be closed to cars every day throughout the holiday season, ensuring that the hundreds of thousands of people visiting the festive area have a safe experience.

The Fifth Avenue Open Street will run on December 3, 10, and 17 from 12 p.m. to 6 p.m. There will be 11 blocks of curated programming, 19 food and beverage partners, eight performance areas, 15 participating retail brands, and about 500,000 visitors.

“Fifth Avenue is always iconic, but during this holiday season everything will be even more exceptional and beautiful,” Marie Boster, president of FAA, said. “The Gift of Fifth gives all New Yorkers and visitors more beauty, more music, more creative seasonal food, and for the first three Sundays in December, more space beyond the sidewalks to take it all in. We are grateful to our partners for sharing in our vision to transform our streetscape into a winter wonderland for everyone.”

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Courtesy of Fifth Avenue Association

Kicking things off today (November 20th), the upper portion of Fifth Avenue will become a winter wonderland. The corridor will feature all-new sidewalk decor, including an installation of 150 live Fraser and Noble firs twinkling with warm white lights sitting atop 50 custom silver platforms. Visitors will also be able to snap a photo under a double arch made of holiday greenery outside GM Plaza at 767 Fifth Avenue.

On December 17, the Doris Duke Foundation will feature Grammy Award-winning jazz singers to pay tribute to Fifth Avenue’s intricate role in jazz history. The avenue was better known as “Swing Street” during the early 20th century due to its hosting of legendary jazz musicians like Miles Davis and Billy Holiday.

Other performers will include Michael Arenella & His Dreamland Orchestra, a jazz ensemble provided by Hire Juilliard Performers, the Fiorello H. LaGuardia High School of Music & Art and Performing Arts, Metropolitan Klezmer, Brooklyn Youth Chorus, and the Frank Sinatra School of the Arts High School.

Food lovers will be able to enjoy blackcurrant donuts and non-alcoholic eggnog from the Modern, a two Michelin-starred restaurant at the Museum of Modern Art, hot chocolate from the world-famous Longchamp’s pop-up cafe, and bao buns and bubble tea from local vendors Mao’s Bao and Tea and Milk.

A selection of Fifth Avenue brands, including Assouline, Bergdorf Goodman, Coach, DIOR, P448, The Plaza, Puma, Tag Heuer, and Victoria’s Secret, will create fun pop-up retail experiences.

In October, it was revealed that last year’s Open Streets program on Fifth Avenue drove an additional $3 million in spending at businesses on pedestrianized streets. According to a study conducted by Mastercard, merchants on pedestrianized streets saw an average of $90,000 in additional spending per day.

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Fifth Avenue to transform into car-free holiday wonderland

By Aaron Ginsburg

November 15, 2023

Cover photo courtesy of Fifth Avenue Association

2023 Macy’s Thanksgiving Day Parade: What You Need To Know

The 97th annual Macy’s Thanksgiving Day Parade is ready to kick off the holiday season. Taking place on Thursday, November 23, the parade this year will run an extra 30 minutes (with a start time of 8:30 a.m. instead of 9 a.m.) and include a performance by Cher (who will open for the real star of the show, Santa Claus). This year’s parade features 32 novelty and heritage inflatables, 16 giant character balloons, 26 floats, 12 marching bands, 700 clowns, and eight performance groups, all made by possible thanks to roughly 5,000 volunteers.

“For nearly 100 years, the Macy’s Thanksgiving Day Parade has been synonymous with the beginning of the holiday season, celebration and togetherness,” Will Coss, executive producer of Macy’s Thanksgiving Day Parade, said.

“Our talented team of Macy’s Studios artisans and production specialists work year-round to deliver the nation’s most beloved holiday event, live on Thanksgiving morning. We are proud to hold this responsibility and look forward to sharing our unbelievable designs, larger-than-life character balloons and first-class entertainment, all sure to create lifelong memories for Parade fans nationwide.”

An Uncle Sam balloon during the 1940s parade. Photo courtesy of Macy’s

History of the parade

The very first Macy’s Thanksgiving Day Parade was actually a Christmas Parade. Macy’s President Herbert Strauss announced a pre-Christmas celebration to draw customers to the store for holiday shopping. On November 27, 1924, the parade included a “retinue of clowns, freaks, animals and floats,” along with Macy’s employees, professional entertainers, and live animals from Central Park Zoo. The original march stretched six miles long, much longer than today’s route, starting in Harlem at 145th Street and ending in Hearald Square, where Macy’s unveiled its new holiday windows. In 1927, the live animals were replaced with balloons, with Felix the Cat as the first balloon animal featured in the parade. The parade was canceled in 1942, 1943, and 1944 because of the need for rubber and helium during World War I. During the coronavirus pandemic, the 2020 parade was downsized and closed to the public. Today, the parade sees roughly 3.5 million in-person spectators and millions more watching from home.

The route

This year, the parade kicks off at 8:30 a.m., 30 minutes earlier than previous years. The route starts at 77th Street and Central Park West, moving down the 2.5-mile route to Columbus Circle, turning onto Central Park South, and then parading down 6th Avenue. Upon hitting 34th Street, the parade makes its final turn onto 7th Avenue and ends in front of Macy’s Herald Square.

Goku by Toei Animation. Photo courtesy of Macy’s.

Balloons

The parade will feature 32 heritage and novelty balloons and 16 signature character balloons, including seven making their debut: “Beagle Scout Snoopy” by Peanuts Worldwide, “Blue Cat & Chugs” by Cool Cats, “Kung Fu Panda’s Po” by Universal Pictures’ Dreamworks Animation, “Leo” by Netflix, “Monkey D. Luffy” by Toei Animation Inc., “Pillsbury Doughboy,” by Pillsbury, and “Uncle Dan” by Illumination.

Returning characters include “Bluey” by BBC Studios, “Diary of a Wimpy Kid,” by Abrams Books, “DINO and Baby DINO” by HF Sinclair, “Goku” by Toei Animation, “Chase from Paw Patrol” by Spin Master and Nickelodeon, “Pikachu and Eevee” by The Pokémon Company International, “Red Titan from ‘Ryan’s World’ by Sunlight Entertainment and pocket.watch, “Ronald McDonald” by McDonald’s, “SpongeBob SquarePants and Gary” by Nickelodeon, and “Stuart the Minion” by Illumination.

Expect to see “Smokey Bear” by the USDA Forest Service, “A Merry Moment” with candy cane and poinsettia balloons and dancing Christmas Trees from Universal Orlando Resort, and Macy’s own reindeer, “Tiptoe.”

Floats

The 97th parade will include 31 floats, conceived by an amazing team of carpenters, engineers, painters, sculptors, balloon technicians, designers, and metal fabricators. Four new floats will join this year’s lineup: “Teenage Mutant Ninja Turtles: Mutant Mayhem,” “Palace of Sweets by Brach’s,” “Igniting Memories” by Solo Stove, and “The Deliciously Delectable World of Wonka.”

The one and only Santa Claus and his reindeer will be making their famed finale appearance on the parade’s largest float (it’s 60 feet long and 3.5 stories tall).

Entertainment and performers

Big performers to watch during the parade include Cher, who will kick off the season with a new holiday song, Jon Batiste, Bell Biv DeVoe, Brandy, Chicago, En Vogue, David Foster and Katharine McPhee, Drew Holcomb and The Neighbors, Jessie James Decker, Ashley Park, Pentatonix, Paul Russell, Amanda Shaw and Alex Smith, and Manuel Turizo.

Enjoy music from 12 marching bands from around the country and performances from groups like the Big Apple Circus, Cornell Bhangra, Tiptoe’s Winter Guard, the Harlem Globetrotters, Maria Verdeja School of Arts dancers, St. John’s Dance, and the Tap Dancing Christmas Trees. A group of more than 1,200 dancers and performers from Spirit of America Dance and Spirit of America Cheer will also participate. Plus, the Radio City Rockettes will be there, a tradition since 1959.

How to watch at home

The parade will be shown on NBC and Telemundo from 8:30 a.m. to 12 p.m., with streaming available on Peacock. Typically, 50 million people tune in.

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2023 Macy’s Thanksgiving Day Parade: What you need to know

By Devin Gannon

November 14, 2023

The Tom Turkey float is one of the most famous in the Macy’s Thanksgiving Day Parade. Photo courtesy of Macy’s.

Its Not Too Late - A List Of Places To Order A Takeout Thanksgiving Dinner In Manhattan

While Thanksgiving is meant to be a cheerful time full of expressing love for those closest to you, some who host the big dinner dread the hours of preparation that come along with it. Luckily, many New York City restaurants offer Thanksgiving meals for takeout or delivery, allowing New Yorkers to spend more time with friends and family instead of toiling away in the kitchen. Here are a few of the best Turkey Day meal packages, from a traditional Thanksgiving feast from Carmine’s and Citarella to smoky twists on turkey at barbecue joints Hill Country, Virgil’s, and Blue Smoke.

Manhattan:

Image courtesy of Bubby’s

Bubby’s
Bubby’s, a favorite among New Yorkers for their American comfort food and beloved Thanksgiving meals, is once again offering a meal package for this year’s holiday. The restaurant is offering take-out packages for pick-up that include starters like buttermilk biscuits, deviled eggs, salad, and pickled market vegetables, main courses like turkey, glazed ham, and vegetarian lasagna, and sides like mashed potatoes, cornbread stuffing, and root vegetables. Every package also includes a slice from three pies: an apple whiskey crumble pie, a pumpkin pie, and a sour cherry pie. The take-out package costs $200, feeds two people, and comes with reheating instructions. All orders must be placed by the end of the day on November 16, and pickup is on Thanksgiving day from 11 a.m. to 3 p.m.

Citarella
Citarella is offering two Thanksgiving feast packages for parties of four and eight. Each package includes roasted free-range turkey, pumpkin bisque, autumn lasagna, sautéed Brussels sprouts, sautéed spring beans, cranberry conserve, chicken bone broth, turkey gravy, glazed sweet potatoes, mashed potatoes, wild rice stuffing, cornbread, and pumpkin pie. The dinner for eight also includes sausage stuffing and an apple pie. The packages cost $299 for four people and $499 for eight. Citarella also offers a wide selection of appetizers, desserts, and side dishes a la carte. Learn more about how to place an order here.

Carmine’s
Sit back and relax this Thanksgiving and let Carmine’s do the heavy lifting. Carmine’s Times Square and Upper West Side locations are offering a heaping Turkey Day package for $395. Available for take-out, delivery, catering, and dine-in, Carmine’s traditional Thanksgiving feast feeds six to eight and includes an 18-pound roast turkey, sausage and sage stuffing, homemade cranberry sauce, caramelized Brussels sprouts with applewood smoked bacon, sautéed string beans with red peppers, baby carrots, sweet potatoes topped with marshmallows and maple syrup, and mashed potatoes with gravy. Customers can add a pumpkin or apple pie to their package to complete their holiday feast for an extra $30. You can place an order online here.

Dickson’s Farmstand Meats
Chelsea Market butcher shop Dickson’s Farmstand Meats is selling all of the Thanksgiving feast items you could ever need, from roast turkeys and ham to gravy and cranberry sauce. The butcher is one of the only retailers in the United States to offer the KellyBronze Turkey, which is known to sell out extremely fast. Get it while you can! You can place an order online here.

Harry’s Table by Cipriani
Waterline Square’s new restaurant, Harry’s Table by Cipriani, has a Thanksgiving package that will run you $575 and serve up to 10 people. The feast includes starters like arugula with apples, toasted walnuts, and gorgonzola butternut squash soup, and main courses including a whole slow-roasted organic turkey and gravy, sides including Mediterranean herbs, focaccia stuffing, sweet mashed potatoes, roasted Brussels sprouts, and pancetta cranberry sauce. For dessert, your guests can enjoy a pumpkin pie and a pecan pie. Orders can be placed here.

The Tin Building
The Tin Building, the Seaport marketplace curated by Chef Jean-Georges Vongerichten, is offering a meal package perfect for any Thanksgiving table. For $568, the Thanksgiving dinner includes an organic herb-roasted turkey, turkey jus, chestnut stuffing, Brussels sprouts, Delicata squash, mashed potatoes, roasted mushroom, macaroni & cheese, cranberry compote, a pumpkin pie, and assorted dinner rolls. You can also add on an extra pumpkin pie, apple pie, or pecan pie for $58.

Aquavit
Michelin-star restaurant Aquavit is offering New Yorkers a to-go Thanksgiving dinner for four. For $595, customers get a fennel and caraway spiced turkey breast, smoked turkey leg, pumpkin soup, watercress salad, roasted squash and Brussels sprouts, sweet potato puree, green bean casserole, rye and brioche stuffing, milk bread, pumpkin pie, and chocolate truffles. You can place an order here.

Image courtesy of Wayan

Wayan
Chef Cédric Vongerichten, the son of Chef Jean-Georges Vongerichten, is offering an Indonesian-inspired Thanksgiving package out of his Nolita restaurant Wayan. Wayan’s Thanksgiving feast features an organic roasted turkey breast and a variety of sides, including Brussels sprouts, perkedel stuffing, mashed potatoes, roasted squash topped with ginger-coconut crust, spiced cranberry acar sauce, and long pepper gravy. Customers can choose between a feast that serves two to four guests for $228 or six to eight guests for $448. Optional add-ons include a homemade ube pie for $68 each and cocktail mixers. Orders must be placed by Saturday, November 18. Expect orders to be delivered between 12 p.m. and 5 p.m. on November 22; pick-up is from 12 p.m. to 8 p.m. on November 22 and 23. Place an order here.

Virgil’s Real Barbecue
Virgil’s Real Barbecue is putting a smoky, southern-inspired twist on Thanksgiving dinner. The $395 holiday feast comes with a 16 – 18 lb. smoked turkey, mashed potatoes with giblet gravy, cornbread, sausage stuffing, sweet potatoes topped with marshmallows & maple syrup, homemade cranberry sauce, candied Brussels sprouts with applewood smoked bacon, green beans, and buttermilk biscuits. You can complete your holiday feast by adding a pumpkin or apple pie for an extra $30. The package feeds six to eight people. You can pre-order for take-out and delivery here.

Image courtesy of Lafayette

Lafayette
Lafayette’s Chef Andrew Carmellini is cooking up a special Thanksgiving takeaway feast. For $115 per person, the package includes butternut squash soup, coconut curry, coriander cream, beet salad, roasted turkey with maple chestnuts, turkey gravy, chipotle-scallion cornbread stuffing, mac n’ cheese, mashed potatoes, Brussels sprouts, and cranberry-orange sauce. For dessert, customers can enjoy maple pumpkin pie and gingersnap cookies. The meal package is available for pick-up on November 22 and 23. Orders can be placed here.

Blue Smoke
Blue Smoke has been serving up delicious barbecue to New Yorkers for more than 20 years. The renowned BBQ joint is once again offering a mouthwatering Thanksgiving dinner for four. For $175, customers get two pounds of smoked turkey breast, one pint of turkey gravy, two pounds of green bean casserole, two pounds of cornbread stuffing, two pounds of mashed sweet potatoes with spiced pecans, and one point of cranberry sauce. The restaurant also offers apple crumb, bourbon pecan, and pumpkin pies for $34 each, as well as their sides a la carte. Pre-order by November 12 at 12 p.m. here. The meal packages are available for pick-up or delivery all day on November 22 and before noon on November 23.

Lafayette
Lafayette’s Chef Andrew Carmellini is cooking up a special Thanksgiving takeaway feast. For $115 per person, the package includes butternut squash soup, coconut curry, coriander cream, beet salad, roasted turkey with maple chestnuts, turkey gravy, chipotle-scallion cornbread stuffing, mac n’ cheese, mashed potatoes, Brussels sprouts, and cranberry-orange sauce. For dessert, customers can enjoy maple pumpkin pie and gingersnap cookies. The meal package is available for pick-up on November 22 and 23. Orders can be placed here.

Blue Smoke
Blue Smoke has been serving up delicious barbecue to New Yorkers for more than 20 years. The renowned BBQ joint is once again offering a mouthwatering Thanksgiving dinner for four. For $175, customers get two pounds of smoked turkey breast, one pint of turkey gravy, two pounds of green bean casserole, two pounds of cornbread stuffing, two pounds of mashed sweet potatoes with spiced pecans, and one point of cranberry sauce. The restaurant also offers apple crumb, bourbon pecan, and pumpkin pies for $34 each, as well as their sides a la carte. Pre-order by November 12 at 12 p.m. here. The meal packages are available for pick-up or delivery all day on November 22 and before noon on November 23.

Lafayette
Lafayette’s Chef Andrew Carmellini is cooking up a special Thanksgiving takeaway feast. For $115 per person, the package includes butternut squash soup, coconut curry, coriander cream, beet salad, roasted turkey with maple chestnuts, turkey gravy, chipotle-scallion cornbread stuffing, mac n’ cheese, mashed potatoes, Brussels sprouts, and cranberry-orange sauce. For dessert, customers can enjoy maple pumpkin pie and gingersnap cookies. The meal package is available for pick-up on November 22 and 23. Orders can be placed here.

Blue Smoke
Blue Smoke has been serving up delicious barbecue to New Yorkers for more than 20 years. The renowned BBQ joint is once again offering a mouthwatering Thanksgiving dinner for four. For $175, customers get two pounds of smoked turkey breast, one pint of turkey gravy, two pounds of green bean casserole, two pounds of cornbread stuffing, two pounds of mashed sweet potatoes with spiced pecans, and one point of cranberry sauce. The restaurant also offers apple crumb, bourbon pecan, and pumpkin pies for $34 each, as well as their sides a la carte. Pre-order by November 12 at 12 p.m. here. The meal packages are available for pick-up or delivery all day on November 22 and before noon on November 23.

Image courtesy of Isle of Us

Isle of Us
Yorkville’s Isle of Us is putting together a Thanksgiving feast for New Yorkers who would rather take it easy this holiday. For $180, customers can get a bountiful meal package that feeds four to six and includes a turkey breast with Isle of Us’s signature spice, gravy, almond stuffing, and two choices of sides. For those who would rather cook their own turkey but want to garnish it the Isle of Us way, the marketplace is offering its Chef’s All Purpose Spice and Casablanca Rise Seasoning for use in any Turkey Day recipes. Orders must be placed by November 17 at 5 p.m. for pick-up or delivery on the day before Thanksgiving (November 22). The restaurant will deliver within five miles of the store. You can order by emailing catering@isleof.us.

Image courtesy of BLACKBARN

BLACKBARN
For the first time, Nomad’s farm-to-table American restaurant BLACKBARN is offering Thanksgiving catering for pick-up and delivery. The package, which costs $485 plus tax and delivery fees, feeds four to seven people, and comes with a pre-prepared roast turkey & thigh giblet gravy, sausage & apple stuffing, maple glazed sweet potatoes, roasted Brussels sprouts, garlic mashed potatoes, cranberry sauce, and pumpkin cheesecake. You can submit a catering inquiry here.

The Bakery at Greywind
For this Thanksgiving, the Bakery at Greywind, an all-day bakery located right next to James Beard award-winning chef Dan Kluger’s Greywind restaurant, is offering turkey pot pies with apple cider gravy and thyme as an addition to your holiday table. The 9-inch pies cost $78 each and can serve six to eight people. The pies are available for pick-up only and can be pre-ordered by hello@greywindnyc.com. Pick-up dates are November 22 and 23.

Image courtesy of Hill Country

Hill Country
Hill Country is offering Texas-sized Thanksgiving meal packages. For $180, customers can get the Texas turkey box, which includes one turkey breast, 64 ounces of mac n’ cheese, 64 ounces of Texas toast stuffing, one load of cornbread with honey butter, and 16 ounces of cranberry sauce. This package can feed four to six people.

For $300, diners can get the hefty Thanksgiving feast, which includes a whole turkey, 64 ounces of mac n’ cheese, 64 ounces of Texas toast stuffing, 64 ounces of mashed potatoes, 64 ounces of green bean casserole, one load of cornbread with honey butter, 16 ounces of cranberry sauce, and a choice of one pie (apple, pumpkin, or pecan).

The sides are also available to order a la carte. You can place an order for pick-up or delivery here.

Chez Nick
Located on the Upper East Side, Chez Nick is offering Thanksgiving dinners to-go. The meal package, which costs $160, includes a fall salad, roasted winter squash, fresh herbs, roasted turkey breast, homemade stuffing, roasted Brussels sprouts, sweet potatoes, green beans, and more. Customers can also add an apple or pumpkin pie for $50. The meal package comes with reheating instructions. You can place an order here. Pick-up is on November 21 at 10 a.m.

Dinosaur Bar-B-Que
Dinosaur Bar-B-Que is asking that New Yorkers leave the Thanksgiving cooking to them. Dinosaur’s largest package, the turkey deluxe, costs $260 and can feed eight to twelve diners. The sprawling dinner includes a pit-roasted turkey, homemade turkey gravy, cornbread stuffing, whipped sweet potatoes, and a choice of two homemade pies (pumpkin, key lime, chocolate icebox). The second largest package, flying solo, costs $170 and includes just the essentials: a pit-roasted turkey and homemade turkey gravy.

Available only at Dinosaur’s Harlem and Brooklyn locations is the half turkey deluxe, which for $135 gets you a pit-roasted turkey, homemade turkey gravy, cornbread stuffing, whipped sweet potatoes, and a choice of one homemade pie. This package serves three to five guests.

All orders must be placed by November 15 and pick-up is on November 21 and 22. You can submit an order request here.

Rigor Hill Market
Rigor Hill Market is offering a selection of pre-prepared Thanksgiving meals and desserts using local produce sourced from their farm in Hudson Valley, Rigor Hill. The market is offering Turkey Day classics like gravy, cranberry sauce, stuffing, cornbread, mashed potatoes, roasted carrots, butternut squash, and pumpkin, apple, and pecan pies. The pies cost $45 each. You can pre-order here.

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25 places to order takeout Thanksgiving dinner in NYC

By Aaron Ginsburg

November 8, 2023

140 East 63rd Street, Unit 7DG

140 East 63rd Street, Unit 7DG

UPPER EAST SIDE, MANHATTAN

$4,275,000

3 Bed  |  3.5 Bath | Condo

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Move-in ready designer luxury awaits in this beautifully renovated three-bedroom, three-and-a-half bathroom condominium featuring a sprawling sun-kissed layout and the perfect combination of pre-war grandeur and contemporary style, all located within a historic, white-glove landmarked Lenox Hill building.

Spanning 2,040 square feet, this seamlessly combined residence boasts soaring beamed ceilings, Bolivian rosewood floors, elegant millwork, and 18 windows on all four exposures that wrap the flexible floor plan in sunlight and historic city views. From a dramatic foyer flanked by a walk-in closet and a glamorous powder room, you're invited to relax in the spacious and sunny corner living room. French doors open to the 3rd bedroom which is currently being used as the dining room and has easy access to a full hall bathroom. Plan your next culinary achievement in the gourmet kitchen where rows of white cabinetry, granite countertops and custom tile backsplashes surround stainless steel appliances, including a gas cooktop, oven, cabinet-front refrigerator, dishwasher, microwave and garbage disposal. Between the entry and kitchen, the separate formal dining room provides the perfect setting for everyday living or large gatherings.

Head to the corner owner's suite to discover new hardwood floors, two roomy closets and a serene en suite bathroom with a double vanity and a sunny windowed rain shower. The second bedroom suite boasts its own walk-in closet and private bathroom, and both en suite bathrooms are finished with heated floors. Throughout the home, enjoy turnkey living with extensive upgrades, including custom paint and new wallpaper, all new door hardware, custom window treatments and blinds, Waterworks bathroom fixtures and updated lighting. A new washer-dryer, individually controlled HVAC in each room, integrated speakers, and a Control4 smart home system add comfort and convenience. This fine home also comes with a private storage unit. There is a current assessment of $3,455/month expected to run through 2024.

Built in 1927 as a residential hotel for women, the Barbizon was home to many famous names, including Grace Kelly, Liza Minnelli, Nancy Reagan, and Sylvia Path, who wrote about her experiences at the Barbizon in "The Bell Jar." The breathtaking brick, sandstone and terra cotta building was converted to luxury condominium residences in 2005 and offers today's residents attentive 24-hour white glove service and a well-equipped Club Salon, with a living room, a dining room with a catering kitchen, a library, a business/conference room and a 20-seat screening room. The landmarked Barbizon/63 is located above Equinox Gym, which features the original Barbizon Hotel swimming pool.

Nestled near the border of Midtown and the Upper East Side, this perfect Lenox Hill location is surrounded by world-class shopping, dining and nightlife. Explore Bloomingdale's and the luxury boutiques of 57th Street and Madison Avenue, or spend the day in Central Park or strolling the Museum Mile. Transportation is effortless with N/Q/R/W, 4/5/6 and F trains, excellent bus service, CitiBikes, the FDR and 59th Street Bridge all nearby.

A Roller Rink is Opening Inside The Oculus

A roller rink is opening inside the World Trade Center’s Oculus this month. “Winter Whirl” invites skaters of all ages to skate inside the Lower Manhattan shopping mall and underneath the architecturally stunning skylight designed by Santiago Calatrava. The rink will open for the season on Friday, November 24, and operate through late January.

All photos courtesy of the Oculus

Skaters will be able to snap photos, make lasting holiday memories, and enjoy a fun skating experience with the backdrop of live music.

“The Winter Whirl roller rink offers visitors a holiday experience like never before, paired with world-class shopping, dining and live music performances,” Diana Grasso, Vice President of Unibail-Rodamco-Westfield, said.

“We’re thrilled to introduce this skating experience and look forward to welcoming all New Yorkers and visitors from across the world to the Shops at the Oculus for festive skating and creating cherished memories this holiday season.”

Winter Whirl will be open from Wednesdays through Sundays from Friday, November 24 through late January from 11 a.m. to 10 p.m., with the last admission at 9 p.m. On Christmas Eve and New Year’s Eve, the rink will be open from 11 a.m. to 6 p.m., with the last admission at 5 p.m.

Tickets for Winter Whirl start at $30 for adults and $25 for minors ages eight to 18. Admission includes 45 minutes of skating time and one pair of rental roller skates.

More information and ticket purchases can be found here.

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A festive roller rink is opening inside the Oculus

By Aaron Ginsburg

November 10, 2023

All photos courtesy of the Oculus

The Monthly Update - November 2023

October’s Tricky, Spooky, Scary Mystery Real Estate Market

Boo! I didn't mean to scare you. It was just October's scary Manhattan and Brooklyn real estate sales market!

This attempt at levity may not be all that funny to anyone actually trying to navigate current sale conditions. Everything is challenging, from pricing properties to negotiating deals for both the buyer side and the seller side.

The overall numbers suggest that inventory is down roughly 500 units from historical norms. We ended October with 7,323 listings when typically there are about 7,700 homes available. We also finished the month with just over 750 contracts signed, when historically, there are over 900 listings under contract at the end of October. Scary!

So, what could be contributing to all of this spooky behavior? Interest rates, for one. I have seen commitment letters over 8.5%! With interest rates like that, buyers are getting spooky with their offers, suggesting that sellers buy down their interest rate a point or two while also providing bids 10% under the asking price! These are truly gruesome numbers for most sellers.

While the rental market has been strong through most of this year, it's been relatively dead lately. The slight reductions that landlords are forced to offer bring renters back to the negotiating table, undermining the high interest rates and mortgage payments that would be expected for most purchases. In other words, rents are currently lower than mortgage and HOA fees. Now that's frightening!

But never fear! There are pockets of optimism in this market. Activity continues to pace well above the most severe NYC real estate market circumstances we've seen in recent years. Depending on where sellers decide to list their homes, zombie buyers are still hungry for fresh meat in the way of well-priced properties, and those zombies will go after that meat with everything they've got. Case in point: I had two bidding wars in Manhattan (the first one in nine months) because the sellers decided to price aggressively, and they ultimately ended up selling the home right where they wanted to list initially. A trick that leads to a treat! :-)

So, while it was a scary October, there were signs of life here and there. But mostly, it was an elusive, tricky, and mysterious market. Hopefully, one that won't be replicated in November!

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Local Happenings

Lightscape at

Brooklyn Botanic Garden

NOVEMBER 17 - JANUARY 1

The after-dark exclusive event in Brooklyn's floral sanctuary is back for another illuminated season! Experience the magic of the garden's moonlit Lightscape with festive music, a range of special treats along with the exhibit of new works of art on display. This is a fun, all-ages event!

Learn More

New York

Comedy Festival

NOVEMBER 3 - 12

Get ready to fall over laughing at this year's New York Comedy Festival! The citywide, 10-day fun-filled extravaganza will be held at over 10 venues, hosting 100+ shows and over 200+ top tier comedians.

Learn More

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Lifestyle Tips and Tricks

Ultimate Living Room Design Do's and Don'ts

Having a living room that can do it all doesn't have to be hard! Follow these design rules and yours will be in tip-top shape in no time.

Learn More

2024 Wellness-Enhancing Smart Home Trends for your Kitchen

Many of the amenities found in the latest kitchen trends are empowered with smart home technology...

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Featured Listings

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70 East 10th Street, Unit 16L

70 East 10th Street, Unit 16L

GREENWICH VILLAGE, MANHATTAN

$2,300,000

2 Bed  |  2 Bath | Co-op

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This exquisitely renovated two-bedroom, two-bathroom residence ticks every wish list item with expansive designer interiors, extraordinary natural light, generous storage and an unbeatable location in a full-service Greenwich Village co-op.

Spanning approximately 1,500 square feet, this beautiful home greets you with tall ceilings, white oak floors, wide art walls, and oversized windows along the sunny southern and eastern exposures. A gracious foyer with a large coat closet opens to a sprawling great room featuring a generous footprint for relaxing and entertaining. Arrange multiple seating areas and a home office space in the nearly 37-foot-long living area, while the dining alcove invites you to plan your next dinner party surrounded by wide-open views and designer lighting. The updated open kitchen impresses with a waterfall peninsula and sleek cabinetry finished with crisp white counters and a marble tile backsplash. Chefs will love the stainless steel appliances, including a gas range with double ovens, French door refrigerator, dishwasher, and built-in microwave.

A long hallway lined with four roomy closets and a walk-in pantry leads to the home's luxurious bedrooms. Wake up with the sun in the bright east-facing primary suite, where you'll find a wide reach-in closet and a windowed en suite bathroom finished with a glass shower, floating vanity and wide medicine cabinet. The secondary bedroom includes a massive walk-in closet and easy access to the home's full guest bathroom, where you'll find a lovely tub/shower and contemporary fixtures.

The Stewart House is a classic white-brick postwar cooperative featuring lush grounds and a large circular driveway, one of the city's first. The full-service, pet-friendly building offers 24-hour white glove doorman and concierge service, a live-in superintendent, a fitness center, a children's playroom, storage, a package room, bike room, laundry room and an on-site parking garage with direct building access — all for low monthly maintenance charges.

Once an early location of Manhattan's A.T. Stewart department store, The Stewart House occupies a full city block in the heart of Greenwich Village. Ideally located between Union Square and Washington Square, this outstanding neighborhood features fantastic shopping, dining, nightlife and entertainment venues at every turn, including Wegmans, Whole Foods, Trader Joe's, Irving Plaza, Webster Hall and the Union Square greenmarket. NYU is inches away, and transportation is effortless with N/Q/R/W, 4/5/6, L and PATH trains, excellent bus service and CitiBikes all within easy reach.

Union Square Sculpture Channels Old New York City Myth

A new sculpture in Union Square Park plays on the century-old myth that alligators live in New York City’s sewer system. Created by Swedish artist Alexander Klingspor in collaboration with Mollbrinks Gallery, “NYC Legend” is a bronze sculpture depicting a life-sized alligator sitting atop a manhole cover. The artwork is inspired by an urban legend that originated 100 years ago claiming New Yorkers set pet baby alligators loose in the sewers after they grew too large to handle. The installation is on display through June 2024.

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All photos courtesy of Jane Kratochvil

The sculpture blends the themes of ancient mythological symbolism and modern urban folklore, honoring NYC’s signature resilience and enduring nature, also qualities of alligators.

“Stories are the very backbone of human civilization giving shape to our shared consciousness through sculptures, paintings, and architecture,” Klingspor said. “This piece is a testament to our timeless drive to find icons in nature, and to the bridge that myth builds between the ancient and modern that still echoes today.”

While tales of large sewer alligators feeding on unsuspecting animals and sanitation workers are myths, there is some truth to the urban legend.

On February 9, 1935, later celebrated by some as “Alligators in the Sewers Day,” a group of teenagers reportedly caught and killed an eight-foot, 125-pound alligator through a manhole on East 123rd Street while shoveling snow on a winter day, according to the New York Times.

The next day, the newspapers were full of stories about the event, giving way to a widespread urban legend about scores of alligators infesting the sewer system. So much so that February 9, 1935, has become a sort of unofficial holiday among certain New Yorkers.

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All photos courtesy of Jane Kratochvil

There have been alligator sightings across the city in recent history. In 1995, a four-foot alligator was taken from Kissena Lake in Queens; in 2001, a two-foot caiman was caught in Central Park; and in 2003, an American alligator was seen in Alley Pond Park. This past February, a five-foot alligator was rescued in Prospect Park after being abandoned by their owner. It died a few weeks later despite extensive medical treatment at the Bronx Zoo.

A sewer alligator can also be found on the 14th Street/ Eighth Avenue subway platform, but this one poses no danger. The bronze underground gator is a sculpture created by Tom Otterness as just one piece of a series titled “Life Underground.”

“NYC Legend” is presented in partnership with the NYC Department of Parks & Recreation and Union Square Partnership, and funded by Mollbrinks Gallery. The sculpture was cast by Switzerland’s Perseo Foundry, which is highly regarded for its world-class materials and casting techniques.

“This sculpture is a beautiful representation of our enduring resilience as New Yorkers, and embodies one of the most famous urban legends about our city,” Anthony Perez, NYC Parks Manhattan Borough Commissioner, said.

“Public art installations like this are one of the many ways we use our public parks to celebrate the stories and spirit that make our city so unique. I’m so excited to see this sculpture take its place in iconic Union Square Park, where I’m sure it will surprise and delight both New Yorkers and visitors.”

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Sewer alligator sculpture in Union Square channels century-old New York City myth

By Aaron Ginsburg

October 18, 2023

All photos courtesy of Jane Kratochvil

76 Franklin Street, Unit 2

76 Franklin Street, Unit 2

TRIBECA, MANHATTAN

$2,250,000

2 Bed  |  3 Bath | Co-op

FANTASTIC OPPORTUNITY IN PRIME TRIBECA TO CREATE THE LOFT OF YOUR DREAMS.

*Unbelievable maintenance of only 1,000$ per month.
*Bring your architect.
*Create a stunning two to four bedroom, with plumbing for up to 5 bathrooms.
*14 foot ceiling height.
*Only 4 units in the Coop.

Inside a former Lingerie Warehouse sits this floor thru private grand loft which has remained relatively untouched by the original owners who turned the building Coop in the 1990's, save for an updated kitchen and the addition of Central AC. The possibilities for renovation are endless. The current layout has a large floor thru open space on the main level including kitchen with pantry, as well as 2 baths. The front portion is being used as an artist studio, while the back portion is being used for dining/living room. There is a mezzanine level which adds another 1,000 Sq ft. of space (not included in the square footage in the listing) which currently serves as 2 sizable bedrooms with large closets and bathrooms. The mezzanine was grandfathered in by the DOB as bedrooms and can remain, or be removed depending on your needs. The space is voluminous, with 14 foot ceiling heights and grand oversized windows.

The building features an elevator and intercom system that connects to your phone to provide remote access for guests or deliveries if you are not home. There is also a subbasement for storage that runs the length of the building and each owner has a quarter of the space which is quite big. The Ground floor is a high end furniture gallery which is only shown by appointment so very little traffic.

The block is quiet and tranquil and virtually every subway line is close by (the 1, 6, A, C, N, R, W, Q, J, Z, trains). The location cannot be beaten, with multiple gyms near by (Crunch is 1 block south), Aire Spa on the block, and some of the best restaurants in the city at your doorstep.

Metro-North ‘Leaf Peeper’ Tain Service Is Back!

Take a train ride up through the Hudson Valley and witness the breathtaking beauty of New York State’s fall foliage. The Metro-North Railroad last weekend kicked off its annual “Leaf Peeper” train service, boosting service on the Hudson River line, which provides scenic views of upstate’s changing foliage and stops in charming autumnal towns like Peekskill, Cold Spring, and Beacon. Five extra trains on Saturdays and four trains on Sundays have been added from October 7 through November 5.

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Views of Bannerman’s Castle from the Hudson Line on the Metro-North Railroad. Photo: Marc A. Hermann / MTA on Flickr

In addition to the extra “Leaf Peeper” train service, midday and afternoon half-hourly service to Poughkeepsie will resume on October 29, with six trains added on Saturdays and four trains added on Sundays, according to the MTA.

Metro-North will also be adding extra trains to service during the holidays, including the day before Thanksgiving, Christmas Eve, and New Year’s Eve.

“Fall is the best season to experience all that the Hudson Valley has to offer,” Catherine Rinaldi, Metro-North Railroad President and LIRR Interim President said.

“If you are searching for weekend plans, Metro-North wants to make it easy for you to hop on a Hudson Line train, take in the beautiful fall foliage, or grab a bite at one of the Hudson Valley’s premier restaurants.”

Children aged five and under can ride for free, and children ages five through 11 can ride for $1 when accompanied by an adult.

Customers are encouraged to use the TrainTime app to purchase tickets for their leaf peeper rides.

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Metro-North ‘Leaf Peeper’ train service returns for fall foliage lovers

By Aaron Ginsburg

October 9, 2023

Cover photo: Views along the Hudson Line on Metro-North Railroad in Beacon. Photo courtesy of Marc A. Hermann / MTA on Flickr

57 Thompson Street, Unit 2B

57 Thompson Street, Unit 2B

SOHO, MANHATTAN

$789,000

1 Bed  |  1 Bath | Co-op

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The Best Location in Soho!

* Unlimited Subletting After 2 Years

Welcome to the epitome of downtown chic living! This remarkable one-bedroom apartment, nestled in the heart of Soho, offers an extraordinary New York City lifestyle that combines style, convenience, and comfort.

This one bedroom offers an open floor plan with high end finishes, new stainless steal kitchen appliances, recessed lighting with dimmers, a custom built in closet and new windows. The apartment is adorned with hardwood oak floors that not only add warmth but also make cleaning a breeze. Chic finishes and attention to detail throughout the space elevate the overall aesthetic.

57 Thompson is the most well-maintained, elevator co-op in the neighborhood. Built in 1920, this pre-war gem has 32-units, allows pets, pied-a-terres, co-purchasing, and gifting. Unlimited subletting after 2 years!

Location, of course, is key, and this apartment doesn't disappoint. Soho is known for its trendy boutiques, world-class dining, and a vibrant arts scene, and all of this is at your doorstep. Stroll through cobblestone streets and discover an array of fashionable shops and cozy cafes. Plus, easy access to public transportation ensures that the entirety of New York City is within your reach. Just steps away from the Soho Trader Joes, the new Google offices and all the the up and coming Hudson Square has to offer.

This one-bedroom Soho gem presents an incredible opportunity to embrace city living at its finest. With its prime location, modern comforts, and stylish design, this apartment is not just a place to live; it's a place to thrive. Don't miss out on the chance to make it your own. Schedule a viewing today and experience the allure of Soho living firsthand!