YEAR IN REVIEW - February 2018

February 2018

For ALL your Real Estate needs, and then some…

(International/ Commercial/ Residential/ Sale/ Purchase/ Rental) 
 Confidential/ Complimentary/ Consultation  REAL ESTATE ADVICE AVAILABLE

BUCKLE UP January just went ‘woosh and outta here!’ 2017 was a very busy year for all 5 NYC boroughs and 2018 promises to be even more eventful. An increase in Gentrification may be the #1 reason NYC’s populace continues to rise. As nationwide foreclosures increase, Bronx championed 2017 with the highest rate. More and more investors are floading the market, transforming single family homes into multi-units. Rezoning is a hot topic. Prices for both Sales and Rentals keep jumping. Plus your Tax exemptions are over 50% for Sales transactions. I bet your monthly payments are equal to or less than your rent. Think about it. The stigma for location has lost its grasp, and now is a really good time to join forces with your family and/ friends to invest in Real Estate rather than just banking or stock options. Make sure to get an attorney. The returns are definitely higher. Call me for a free consultation.


Question: Why was 5 and 6 worried?
Answer: ...because 7 (ate) 8,


Most Expensive New Listing Is a $75M Live-Work Building in NYC

Granted, the eight-digit price tag is sky-high—but it's for the entire structure. It gets you all 23,000 square feet of this grand space, on six floors, with a basement, roof garden, and multivehicle garage.



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Enroll to receive Tax Exemptions as a Homeowner or to Freeze your Rent as a Tenant.



1Family House 3BD 1BTH * 3BD 2BTH $2400 - Throggs Neck - Heated Finished Basement & Garage Floors/ Jacuzzi Tub/ Granite Countertop/ 10ft Ceilings/ Recess Lights/ Dishwasher

2 Family House 6BD 2BTH * 3BD 1.5 BTH $2200 - Wakefield - Granite Countertops/ Stainless Steel Appliances/ Dishwasher

Homeownership Rate
% OF HOMES 18.4% 81.6% 6.8%
Owners Renters Vacant

Age of Homes
% OF HOMES 6.5% 15.2% 38.9% 39.4%
2000 or Newer 1970 - 1999 1940 - 1969 1939 or Older

Types of Homes
% OF HOMES 5.6% 4.6% 18.5% 71.0% 0.2% 0.1%
Single-Family Townhomes Small Apt. Buildings Apt. Comp Mobile

Home Size
% OF HOMES 6.6% 33.3% 33.7% 21.4% 3.5% 1.5%
BEDROOMS No BD 1 BD 2 BD 3 BD 4 BD 5 or more BD

Bronx Home Price Trends:

Bronx market trends indicate an increase of $49,285 (14%) in median home sales over the past year. The average price per square foot for this same period rose to $288, up from $259.

1/2018 12/2017 11/2017 10/2017 9/2017
Total Listings 477 509 553 587 599
Average Price $455,838 $471,303 $471,206 $460,808 $454,001
Avg Price Change -3.39% +0.02% +2.26% +1.50% -0.99%
Median Price $341,519 $349,564 $354,900 $344,733 $344,450
Med Price Change -2.36% -1.53% +2.95% +0.08% -3.31%
Avg Bedrooms 2 beds 2 beds 2 beds 2 beds 2 beds
Avg Bathrooms 1.79 baths 1.82 baths 1.83 baths 1.8 baths 1.78 baths



Bronx Borough President Rubén Díaz Jr. on managing gentrification in the Bronx (12/2017)
“This year, we were able to pass ‘Right to Counsel’ legislation that will guarantee tenants access to an attorney in housing court. This will help level the playing field and prevent eviction and displacement.”

Manhattan Total Listings (12/2017)

December sales activity declined to its lowest level since 2012, with condo activity dropping 24%, and co-op activity dropping 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 annual 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 amongst condos, at 30%. Negotiability remained almost the same for co-ops. Condos, however, saw a larger difference from last ask to sale, as average discount from last ask reached 3.3% this month, as compared to 2.5% last year.

Brooklyn and Queens markets slow down, but prices remain near record highs (12/2017)

As prices continue to remain near record highs in Brooklyn and Queens, the fourth quarter brought a pronounced slowdown in sales in the two boroughs.

Confidential/ Complimentary/ Consultation  REAL ESTATE ADVICE AVAILABLE

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