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The Minute NY | DC:
New York & Washington on Your Doorstep |
| Andrea Saturno-Sanjana |
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| Capital to Capital. Real Estate. NYC & DMV. |
Licensed in NY | DC | MD | VA | (212) 888-0550 | (202) 696-0701 | andrea@realnydc.com
Visit me on the web!
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| NY | NoMad | Citi Habitats' Flagship Office | There's No Place Like Home |
I am thrilled to announce my return to my first home at Citi Habitats--the Flagship Office at 387 Park Avenue South--in the heart of Manhattan. You might think the prime NoMad location will find me meeting clients and colleagues in some of my favorite eateries and watering holes such as I Trulli, Toshi's Penthouse, Ilili, Gramercy Park Tavern and the Royalton Park Avenue or sourcing provisions at Spice Corner and Eataly. And you would be right.
More important, my homecoming allows me to provide an even higher level of service to my clients with our collective strength in assisting sellers, buyers, landlords, tenants and investors in achieving their real estate goals in New York City--in Manhattan, Brooklyn, Queens and beyond. As the focal point of the bespoke service we provide to our corporate relocation clients, the Flagship Office has an abundance of resources as I locate the perfect NYC home to meet each client's needs, whether they find themselves in the C-suite, on the creative team or in any other role.
If you learn of anyone looking to sell, buy rent or invest in New York City, please let them know I am here to help!
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Prime Property | NY | Brooklyn | Downtown-Fort Greene | The Eagle
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Introducing Brooklyn's newest luxury residential development--
The Eagle. Perfectly located where lively Downtown Brooklyn meets historic Fort Greene. Each residence features floor-to-ceiling windows, walnut floors, spacious closets and an in-unit washer/dryer. The gourmet kitchen features stainless steel appliances, custom oak cabinets and Brazilian stone countertops. Oversized luxurious bathrooms offer soaker tubs and oak vanities with quartzite countertops.
Enhance your lifestyle with over 34,000 square feet of incredible amenities, including a state-of-the art fitness center with exercise studio, vast sun deck with cabanas, outdoor barbeque and herb garden, private dog run, lush rooftop garden offering expansive NYC views, business center, tenant lounge, and party room. The Eagle offers a 24-hour concierge, full-service valet, in-building storage, bike room and an on-site parking garage.
The Eagle's dynamic location offers a cosmopolitan mix of culture, entertainment and recreation. Residents will enjoy the convenience of high-end retail, Fort Greene Park, year-round farmers' markets, gourmet coffee shops and one of the City's most vibrant restaurant scenes.
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DC | On the Shortlist for Amazon HQ2 | An Easy Commute From Kalorama?
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Amazon is aiming to construct a full-size campus comparable to the existing one in Seattle, occupying up to 8 million square feet, somewhere in the United States or Canada, and virtually every major metro area is vying for the new headquarters.
In October, the District unveiled the four sites in the city that it is putting forth for con
sideration: the
Anacostia Riverfront, the NoMA/Union Station/Union Market area (renderin
g above), Hill East and Shaw/Howard University. Amazon is expected to make a choice early this year. (
Urban Turf
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Amazon CEO Jeff Bezos seems to like Washington, DC. In 2013, Bezos purchased
The Washington Post for $250 million. In 2015, Bezos purchased the former Textile Museum in Kalorama for $19 million, which he is currently renovating as a residence.
Any of the proposed Washington, DC, locations would certainly be an easy commute from Kalorama.
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Washington Market Summary for December 2017
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Manhattan Residential Sales Market Report Q4 2017
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The year ended in a more stable condition than 2016, as three of the past four quarters registered level or annual increases in closed sales activity. Fourth Quarter 2017 closed sales were essentially unchanged from last year, and at 3,140 closings, carried the 2017 year-end total to 13,400 closed transactions. Signed contracts fell 14% year-over-year, largely in response to non-market factors like tax reform that are adding complexity to buyer decision making. Nevertheless, as closing figures suggest, the chasm between buyers' and sellers' expectations on pricing, value, and velocity that affected sales in 2016 has narrowed over the last twelve months. Still, market activity varied significantly by product type. In Fourth Quarter 2017, resale co-op sales rose 4% annually, for the third consecutive quarter, as purchasers sought value. Resale condos, which have been limited by lingering high prices, experienced a 3% decrease in closed sales year-over-year.
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Citi Habitats
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Manhattan Residential Sales Market Report December 2017
In December, Manhattan sales activity declined to its lowest level since 2012, with the number of condo sales dropping 24%, while co-op activity fell 8%. Changes in pricing metrics, however, were mixed. Condo average and median price grew, while co-op median price increased slightly, and average price dropped 24%. Listed inventory continued the trend of year-over-year increases, as both condos and co-ops saw annual gains. Days on market increased across both product types over the last year, but gains were much higher for condos, at 30%. Negotiability year-over-year remained stable for co-ops. Condos, however, saw a larger difference from last ask to sale, as average discount from last ask reached 3.3% in December, as compared to 2.5% the year prior. (Citi Habitats)
Brooklyn Residential Sales Market Report Q4 2017
The real estate market in Brooklyn closed out 2017 on a high note, as the market continued to expand. However, the year-over-year gains in the number of closed sales were less robust in Fourth Quarter 2017 relative to the first three quarters of the year. At 1,318 apartment closings, the total number of closed sales in Fourth Quarter 2017 still rose 7% year-over-year. For buyers, limited inventory at all price points was a key factor for lower growth levels this quarter - as sellers were unable to keep pace with the strong demand for housing. New development product played a crucial role in spanning the shortfall of resale supply and the market responded favorably with swift sales of new product. This was the strongest fourth quarter for Brooklyn new development sales in seven years. Market wide median price was $725,000, up 4% year-over-year, and a slight improvement from Third Quarter 2017. Average price adjusted downward 4% as there were fewer sales over $2,000,000.
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Citi Habitats
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Brooklyn Residential Sales Market Report December 2017
During December, the Brooklyn market experienced its second annual decrease in sales for the year 2017, down 38% versus last year, which was the largest year-over-year drop in sales since March 2014. While the average sale price increased slightly versus December 2016, the median sale price decreased 6% as sales activity picked up in South Brooklyn. Average price per square foot was $908, up 18% year-over-year due to the increase in price per square foot for two and three plus bedrooms. Negotiations were less deep than last year as the difference from last ask price to sale price was 1.2% below the average asking price driven by increased competition from low inventory. The average days on market figure of 91, while the highest since 2013, was skewed by a few homes selling after sitting on the market for over two years during the fourth quarter saw high pricing, but also a lot of inventory and incentives.
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Citi Habitats
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Manhattan and Brooklyn Residential Rental Market Report Q4 and December 2017
Tenants during the fourth quarter saw high pricing, but also a lot of inventory and incentives.
During the last quarter of 2017, the study found that rental pricing in both Manhattan and Brooklyn hovered near record highs. Meanwhile, Manhattan's vacancy rate remained above 2%. Landlord concessions were found on 43% of leases during the fourth quarter, the highest percentage since Q1 2010.
However, when looking at the most recent data for December, we have seen a minor shift in recent trends.
In December 2017, rents fell slightly across the board when compared to the month prior.
While the decrease in pricing from November was negligible for two- and three-bedroom homes in Manhattan, rents were down 1% for studio and one-bedroom units in the borough. In Brooklyn, rents were down 2% for studios and 1% for one-, two- and three-bedroom units.
The Manhattan vacancy rate declined from November to December.
After three consecutive months of increases, available rental inventory in Manhattan fell to 2.09% of units in December from 2.14% the previous month. The vacancy rate has remained unusually high for the borough over the last two years. We attribute these conditions to aggressive asking rents across Manhattan, as well as an increase in 'value' housing options for renters in the outer boroughs.
The recent trend of rising landlord concessions has also reversed.
In December, the use of incentives declined. Our report found that during the month, 41% of new leases included a give-away or concession to the new tenant (vs. 51% in November).
"New York's rental market remains incredibly price-sensitive. Even small adjustments in pricing by landlords can cause increased demand for rental housing. While asking rents were boosted by incentives in recent months, our research shows that the market may be at the beginning of a potential shift. It will be interesting to see if overall rents continue to trend downward as 2018 progresses."
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Gary Malin, President of Citi Habitats
(Citi Habitats)
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Pantone Color of the Year 2018 | Ultra Violet
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Complex and contemplative, Ultra Violet suggests the mysteries of the cosmos, the intrigue of what lies ahead, and the discoveries beyond where we are now. The vast and limitless night sky is symbolic of what is possible and continues to inspire the desire to pursue a world beyond our own. Historically, there has been a mystical or spiritual quality attached to Ultra Violet. The color is often associated with mindfulness practices, which offer a higher ground to those seeking refuge from today's over-stimulated world. The use of purple-toned lighting in meditation spaces and other gathering places energizes the communities that gather there and inspire connection. (Pantone)
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| I would personally like to thank you for taking the time to view this email. If you're thinking of buying or selling, you need an agent who knows my hometown of Washington and my adopted home of New York like no one else. I'm that agent. It would be my pleasure to assist you with all of your real estate needs.
I pride myself on cutting through the hassles of buying or selling and providing my clients with exceptional customer service. Let me earn your business.
Andrea
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Licensed in NY | DC | MD | VA | (212) 888-0550 | (202) 696-0701 | andrea@realnydc.com
Visit me on the web!
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DC
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Real estate agents affiliated with Citi Habitats are independent contractor sales associates and are not employees of Citi Habitats. Citi Habitats is a licensed real estate broker located at 387 Park Avenue South, NY, NY 10016. All information furnished regarding property for sale or rent or regarding financing is from sources deemed reliable, but Citi Habitats makes no warranty or representation as to the accuracy thereof. All property information is presented subject to errors, omissions, price changes, changed property conditions, and withdrawal of the property from the market, without notice. All dimensions provided are approximate. To obtain exact dimensions, Citi Habitats advises you to hire a qualified architect or engineer. This is not intended to solicit property already listed.
Equal Housing Opportunity.
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