And we're off to a strong start to 2020...
And we’re off….a new year, a new decade. Open house activity is brisk and deals are certainly being made, as demand seems to be outpacing supply, for January at least. We will have to wait for more data before we can indeed conclude this is a sustained trend.

After so much market malaise, buyers are increasingly grasping the conditions and learning what it takes to get deals done. Maturing millennials makeup a growing number of those buyers and affordability is the name of their game. Likewise, sellers who sincerely intend to sell are beginning to get their properties sold. They have studied the data and have accepted the rendezvous point of the supply and demand curves for their sector in the marketplace.

As a whole Manhattan prices are down approximately 4% since last year with sellers having to negotiate approximately 6% off their asking prices. Note: every property fits into a micro-market whether it is a 2 bedroom 2 bathroom condo downtown, a pied-a-terre on the Upper East Side, a townhouse on the Upper West Side, an investment condo on the Lower East Side etc….the list of categories is infinite. Meaning, each sub-market should be studied independently.

For those sellers wanting to do just that….sell, now could be the time. It is highly likely the most activity will happen in the first half of the year. Being an election year, Manhattan notoriously slows from summer through November/December. Meaning the next most appealing selling season would be a year from now. So for those who need to sell, now is the time; but pricing needs to be accurate .

Likewise, if any sellers are actually looking to upgrade, now is also the time, as you will be able to arbitrage this trade forward and capture tremendous value, far more than in years past. Interest rates are extremely low, so purchasing power is substantial. These low rates benefit both buyers and sellers. Buyers can afford more; consequently, satisfying sellers all the same. Transactions should be easy right now, as long as people recognize how not to stand in their own way.
As I always ask:  
Are you prepared to dive in? You should always know what you are in a position to buy or sell at all times. If you don't know, reacquaint yourself with the marketplace. What is your property worth? What can you afford to buy? Anyone interested in buying or selling, should be rolling up their sleeves to determine whether the time is right to sell or if there's a home or investment property out there for them. 
One of a Kind
88 Central Park West
Unlike any other...

Being the only true boutique residence on this coveted corridor of
CPW makes this cooperative one of the most exclusive homes in the city. 
Approximately 3,500 sqft with sweeping views overlooking Central Park. 
Secluded grandeur...views...location...your own private elevator...
For more s ee full listing details here Asking $13.495M. 
Rare Flatiron Loft With Views of
The Empire State Bldg & Madison Square Park
21 East 22nd Street, Loft 8A
Location, Location, Location... Right in the heart of the Flatiron District, nestled between NoMad and Gramercy Park, is an oasis...
...the gorgeous and tranquil, sought-after, tree-lined block on
East 22nd Street between Broadway and Park Avenue South .
The living/dining room spans over 25' with a wall of
spectacular windows and over 11' ceilings .
Asking $1.745M.  See full listing details here .  
*   M A R K E T   N E W S  *
2020 NYC real estate forecast: Buyers trade up, renters lose advantage, and sellers...quit?
by Emily Myers & Jennifer White Karprshat Carmiel
This is an interesting article from Brick Underground, as they layout their strategies for success in 2020. They forecast what is to come for buyers , sellers and renters . They have broken down this analysis into separate sections (below), but suggest you read all sections to get a comprehensive perspective on what is happening.
Managing the rent
law aftershocks
Six months after Albany passed its sweeping tenant protections, the city’s multifamily market is feeling the strain
By Georgia Kromrei
"The new limits on rent-stabilized buildings in the Big Apple also mean more owners are looking to boost rental income on their nonregulated units. Nate Lowy, founder of the advisory firm Juniper Capital Group, said,‘The free-market buildings had kind of stalled until the rent law kicked in – now I’m hearing rents are really climbing’" Read more .
The Waldorf Astoria is back...

Their splash material states:

" A Legend Returns
The world-renowned Waldorf Astoria New York introduces a
contemporary collection of studio to penthouse residences defined by
unsurpassed amenities and legendary service.
Launching Early 2020 "

Contact me to keep you apprised of their progress.
Historical perspective of mortgage rates since 1972.
According to Freddie Mac, 30-year fixed mortgage rates are at the the 4th lowest level since 1971.
Courtesy: Wells Fargo
Purchasing Power
This Year vs. Last
Interest Rates
Example below reflects today's 30 year fixed rate of 3.250% vs. rates of 4.625%, just over a year ago.

$1M borrowed at 3.250% = $4,352/month
$1M borrowed at 4.625% = $5,141/month
That is a difference of $789/month or $9,468/year.

Alternatively, we could look at it this way: 
At 3.250%, $4,352/month will afford you a $1M mortgage.
At 4.625%, $4,352/month only afforded you a $846,500 mortgage.  

That is 18% more purchasing power than last year,
just because of interest rates.
The Latest 2019 Market Report - Sales
Manhattan's 4th Quarter (2019):   click here
Brooklyn's 4th Quarter (2019):   click here
Hamptons Annual Report (2019):   click here

Townhouse Report: 1st Half 2019:  click here

January Inventory Report:   click here  
January Economics:  The Heym Report:  click here  

Sell Your Property:   click here
Buying in New York:   click here
Interactive Rent vs. Buy Calculator:
(courtesy NY Times)  click here

Other Markets:
Miami 4th Quarter:   click here
Miami Beach:   click here
Palm Beach 4th Quarter:   click here
*   D I S C O V E R   NYC   *
Vida Americana
Mexican Muralists Remake American Art, 1925–1945
Feb 17–May 17, 2020

Mexico underwent a radical cultural transformation at the end of its Revolution in 1920. A new relationship between art and the public was established, giving rise to art that spoke directly to the people about social justice and national life. The model galvanized artists in the United States who were seeking to break free of European aesthetic domination to create publicly significant and accessible native art. Numerous American artists traveled to Mexico, and the leading Mexican muralists—José Clemente Orozco, Diego Rivera, and David Alfaro Siqueiros—spent extended periods of time in the United States, executing murals, paintings, and prints; exhibiting their work; and interacting with local artists. With approximately 200 works by sixty Mexican and American artists, this exhibition reorients art history by revealing the profound impact the Mexican muralists had on their counterparts in the United States during this period and the ways in which their example inspired American artists both to create epic narratives about American history and everyday life and to use their art to protest economic, social, and racial injustices.

This exhibition is organized by Barbara Haskell, curator, with Marcela Guerrero, assistant curator; Sarah Humphreville, senior curatorial assistant; and Alana Hernandez, former curatorial project assistant. For details click here .
*   T A S T E   N Y C   * 
My Pick -  The POLO Bar by Ralph Lauren
Like no favorite spot in the city.
Question is: Can you get in?

It's a challenge but a goal worth setting and experiencing.

This is Ralph Lauren's third restaurant and it's my favorite (for the record, I haven't been to the others).

You must arrive prior to your reservation to enjoy a classic cocktail or wine in the bar area or the back club room with the fireplace. Afterward, descend into the cozy masculine dining room with its sporting decor inclusive of saddle leathers and equestrian art. The menu is wonderful selection of American cuisine and I must say it takes discipline to simply not order the signature Polo Bar Burger.

The Hottest Restaurants in Manhattan Right Now
The Hottest Restaurants in Manhattan Right Now.
Eater editors get asked one question more than any other: Where should I eat right now? NYC dining obsessives want to know what's new, what's hot, and what is going to be the next big hit in the greatest dining city on earth. So here it is, a guide to the hottest restaurants in Manhattan this month.  See the list . Image of Deco Food + Drink.
by Alex Stanlioff/Eater
Learn " French Bistro & Brasserie Classics " with Rob
If you'd like to learn how to make a few old-school French classics -- steak au poivre with duck fat pomme frites , braised leeks, salade verte with classic Dijon vinaigrette, and red wine-poached pears -- and enjoy them together with wine, this session is for you.

Just in time for Valentine's Day (great gift idea, btw), this is a hands-on, interactive cooking class in a professionally equipped kitchen, taught by Rob. So expect it to be delicious and fun. Very limited space available, so jump on it now before it sells out.

Tuesday, February 11th from 7:00-9:30pm.
Here's what you should know...

1. Fully equipped professional kitchen space. All the tools, pots, pans, ovens and top notch ingredients are good to go.

2. It's hands-on and interactive . Which means that everyone gets involved in the preparation of the meal. Here's where you might pick up a few tips and tricks.

3. With old-school French technique making a return as one of the hottest trends in restaurants today, this is the class to learn how to master some of the fundamental techniques.

4. After 2 hours of prepping and cooking, you'll sit down to enjoy the meal with a couple of bottles of wine.

Space around the cooking island is limited, so if you're interested, here's th e link to sign up for the class. So if you have an appetite for fun, join in.

7 to 9:30 PM @ the JCC on the UWS, 334 Amsterdam Ave.
"Short Order Dad "      by Robert Rosenthal
The Food Humorist©, is a Manhattan born man-about- town who writes, produces and hosts programs about food. I highly recommend his new book for Dads like myself. There is a new kind of dad, and he's doing far more domestic duty than at any time in history, including cooking. Although it's written with a sense of humor, this book is a serious resource for dads and anyone else interested in upping their game to make great tasting foo d bat home, even if they have never used a chef's knife or a roasting pan before. 
Order:   Short Order Dad ...A Great Gift for Dad!
*   G  R  A  F  F  I  T  I   *
New York City  *  The Hamptons  *  Palm Beach *  Miami
With Partnering Worldwide, Brown Harris Stevens continues to leverage its very productive relationships with top brokerages nationally and internationally by inviting partners to high- light key properties in their respective markets on, and to feature our important properties on their sites.  Learn more .
About Roberto...
  • Recognized by New York Magazine & Five Star Professional as one of the "most accomplished real estate professionals in New York City."

  • Ranked nationally by REAL Trends as one of "America's Best Real Estate Agents" for avg. sales price of $4.350M.

  • Recognized member of the 2016 "TOWN Elite" class

  • Sold a single family Townhouse faster than any other on the Upper West Side over $10M to date. (StreetEasy)

  • Certified Negotiation Expert (CNE)

  • Trivia: Won the 2015 New York Times NCAA Basketball Pool.
Roberto Cabrera
Licensed Associate Real Estate Broker
New York City  *  The Hamptons  *  Palm Beach *  Miami
o: 212-906-0554 
m: 917-701-3907

Brown Harris Stevens
130 Fifth Avenue, 2nd Floor,
 New York, NY 10011
(917) 701 3907