CITY LIVING with The Stein Team, December 2017

DECEMBER 2017
From The Stein Team
 
 
 

  
Happy Holidays from The Stein Team!
 
CITY LIVING with the Stein Team

Despite articles stating the “luxury” market is in decline and a general concern over the potential negative impact of the proposed tax bill, we are actually seeing a stronger market than we have in over 12 months. Typically news articles are based on data gathered 3-6 months before so it is quite rare that the media is actually able to accurately report on current ebbs and flows of our industry.  

In terms of the Tax Bill, there are certainly some reasons for concern as it will likely reduce mortgage interest deductions, property tax deductions and increase the amount of time you must hold a home before selling and being able to shelter some of the capital gains. On the flip side, if the bill also reduces taxes, presumably people will have a bit more money in their pockets.

 
Market News 
 
 
 
While we feel this news is probably based on data that is a quarter behind, we felt it was important to share with our readers. The Real Deal recently examined the state of the real estate market this Fall in New York. In "Nerves tested as luxe market loses footing - again," you'll uncover that the high-end market is seeing deals drag and prices drop. After a rocky 2016, the industry had high hopes for 2017, but slow absorption and a glut of new product is only continuing to compound. Buyers have a lot of choices and they are feeling a sense of control.
 
The Washington Post is opining on a more national scale: how the "Tax Cut and Jobs Act" will affect our taxes. In "The House just passed its big tax bill. Here's what is in it," Trump and Speaker Paul Ryan win a major victory with the House passing their tax bill, a legislation that will affect every American household and business owner. In a nutshell, big businesses win and the rich do very well. Interestingly, many parts of the bill benefit Donald Trump, himself. Read in detail how this bill could affect you.  
 
 
 Stein Team Favorites  
 
 
 
Spirited Table Settings

Decorate your home and table setting this Holiday season with our chic decor inspiration. From wreaths to ornaments, gingerbread to poinsettias, enjoy this array of our favorite Holiday season table settings and centerpieces for ideas and inspiration to make this year tasting - and looking - better than ever.      

 
 
Video Tours  
 
92 Warren St, offered at $7,299,000
 
52 Lispenard St, offered at $7,100,000
 
 
We are proud to showcase Video Tours of two of our latest listings in TriBeCa: the penthouse at 92 Warren St, and a sprawling full floor loft at 52 Lispenard St. Our Video Tours allow prospective buyers to visit our listings from the comfort of their own home.

Enjoy a personal tour with Jeremy Stein of 92 Warren St, a true Entertainer’s loft in the heart of TriBeCa offering 3 bedrooms, and 3 spectacular outdoor spaces, including a private rooftop with panoramic views of Downtown and the Hudson River. 

52 Lispenard St, a meticulously designed full-floor loft, is located on a hip, historic block, and features 4 light-filled bedrooms, a home office, top of the line finishes, and a lushly planted private outdoor space. 

 
 
 
 
 
Neighborhood Spotlight
 
The Bowery Mural, 76 E Houston St
 

Katz's Delicatessen, 205 E Houston St


The Standard, 25 Cooper Square
 
215 Chrystie Street
 
Equinox Gym & 196 Orchard Street
 
A Neighborhood
Looking Forward 
 
The Lower East Side is one of New York's most spirited and eclectic neighborhoods. Charm exudes from this neighborhood in the form of it's iconic fire escapes, bold street art, and gritty alleyways. This urban atmosphere has attracted a host of some of the trendiest bars and restaurants in the city - it's really the neighborhood that never sleeps. 
 
Perhaps most known for its Jewish roots, Katz's Delicatessen is one of the neighborhood's most famous landmarks - and you can go back in time by visiting the area's heralded Tenement Museum. But, while the Lower East Side is very protective of its immigrant history, it's been one of the largest beneficiaries of the city's development boom, with many new high-end residential projects sprouting up, as well as some of Manhattan's hottest hotels. Century-old brick tenements now stand shoulder to shoulder with shiny new construction. 
 
While cool hotels like The Bowery Hotel and The Standard have called the Lower East Side home for some time, the newest kid on the block is The Public, a collaboration of hotelier Ian Schrager and architects Herzog & de Meuron. The hotel features all the bells and whistles expected of it: a rooftop with jaw-dropping views, signature Jean-Georges dining, and the coolest new cocktail bar in town.
 
And adjacent to The Public will be 215 Chrystie St, 11 one-of-a-kind condominium residences that will redefine luxury living on the Lower East Side. Joining the pack are other projects like 204 Forsyth, 100 Norfolk, and 196 Orchard (which will open along with the area's first Equinox), all helping to reshape the Lower East Side for generations to come. 
 

 
Off The Beaten Track   
 
742 North Lake Way, Offered at $8,395,000
Todd & Frances Peter | Sotheby's Int'l Realty
 
 

Spotlight on
Palm Beach, Florida

 
This month, we invite you to explore offerings in Palm Beach, Florida from two of our global partners Frances and Todd Peters at Sotheby's International Realty. As temperatures begin to drop in the northeast, there isn't a more popular destination for New Yorkers than southern Florida. Known for its palatial oceanfront estates, Palm Beach is a relaxing escape from the New York chill, and conveniently only a two-hour flight away. 

With Sotheby's extensive international network of brokers and properties, we can help you find your dream home or vacation property in 63 countries. We have a strong network of colleagues and would love to connect you to an experienced broker. 

  
 
Homeowner Help
 
 
 

Holiday Tipping Guide  

It's that time of the year again - the Holidays are a time of giving, but many New Yorkers struggle when it comes to how much they should be giving when it comes to tipping their building staff. While tipping isn't a necessity, it's a meaningful way to show one's appreciation for those that make your day-to-day living a bit easier. How much appreciation depends on the size of the building, quality of service, how long a staff member has been with the building and whether the tipper owns or rents. Curbed has created a quick-and-easy guide to help you break down what you should be tipping your building staff. 

 

 
 
The World Of Sotheby's
 
 
 

Explore ART&HOME  

It is our pleasure to share with you the latest edition of ART & HOME, a magazine jointly published by Sotheby's and Sotheby's International Realty. This literary collaboration showcases all the elements of an extraordinary life. It presents sophisticated content and beautiful images related to the art and real estate worlds. Enjoy the digital edition below.

 

 
 
THE STEIN TEAM | #1 Sales Team 2016
Jeremy and Robin Stein,
Senior Global Real Estate Advisors 
 
917.854.4411 | jeremy.stein@sothebyshomes.com
917.570.8386 | robin.stein@sothebyshomes.com
 
 
 
The Stein Team’s Property Highlights

132 Greene Street
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502 Park Avenue
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205 W 19th Street
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© 2014 Sotheby’s International Realty, Inc. All rights reserved. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractors and are not employees of Sotheby’s International Realty, Inc.