As 2017 draws to a close, many people are asking me: what’s going on with the Manhattan real estate market? What do you think is going to happen?
My answer: the NYC real estate market is still going strong—case in point: I just sealed the deal and received board approval for another fabulous listing at 145 East 15th Street.
Apartment 7H at 145 East 15th Street is an alcove studio apartment in the dynamic section section of Gramercy Park close to Union Square, the famed Irving Plaza Club, and beautiful tree-lined streets. We listed the apartment on September 8th for $640,000, and—after a bidding war!—it went into contract for $675,000 on October 12th. We are now board approved and scheduled to close in January 2018.
The space is beautiful with no details spared on the renovation. Architect owned and designed, the unit features a super spacious layout. The current floorplan provides separate spaces for living, dining, sleeping, a baker’s kitchen, office/music nook, customized built ins, fabulous white oak flooring throughout, and a wall of windows overlooking neighborhood greenery.
If you’re mindful of the current market conditions, including a slight dip in demand that has led to more negotiable sellers, then properties will continue to sell. In addition, it’s important to know what the market will bare and what lenders are prepared to lend to buyers. In a volatile market, having a savvy and experienced broker as your guide is critical—we know how properly price, present, and bring parties together and make the deal happen.