New Offering from the Stein Team: 11 N Moore St, $7,250,000
CITY LIVING with the Stein Team
In early January we reduced the price on a number of properties that we had lingered on the market for some time. These reductions have lead to a huge increase in showings and we are urging a number of sellers who were previously reluctant to reduce, to reconsider. We have also had some higher-end rental properties on the market for quite some time, and finally, after a few reductions, all now found tenants in December and January.
From where we stand, there seems to be a great deal of demand, however buyers are being very cautious about bidding and will only do so once they not only sense the property is priced well but also when they believe there is a second interested buyer circling the home. We are readying a number of properties for the Spring Market and are hopeful that a combination of good inventory and pricing will be the key to continued transactional success.
Real Estate News
Mortgage Rates Jump!
A huge sell-off in the bond market is about to make buying a home much more expensive. Mortgage rates, which loosely follow the yield on the 10-year treasury, have been steadily rising for the past few weeks, but will see their biggest move higher this week. Many are speculating that some lenders will be at 4.5 percent on their best-case-scenario 30-year fixed quotes, yielding the highest rate since 2014. Read more of CNBC's analysis below.
Upper West Side townhouses
American Museum of Natural History
Spotlight on the Upper West Side
Looking for sprawling homes, tranquil streets, renowned schools, bucolic green spaces and a healthy dose of culture? Look no farther than the Upper West Side. This classic neighborhood is popular most among families and those looking for a peaceful escape from the mayhem of Midtown. Many of the neighborhood's blocks are lined with immaculate brownstones and pristine storefronts that feel like quiet, small-town America, making you feel like you're lightyears away from Times Square.
Ideally situated, the Upper West Side is flanked by both Central Park and Riverside Park and enjoys easy access to the Hudson River and convenience to the city's greatest cultural institutions. From enjoying the ballet at Lincoln Center to the dinosaurs at the American Museum of Natural History to the latest performance at the Beacon Theater, the culture meter on the UWS is higher than any other NYC 'hood.
You can't visit the UWS without making a stop at Columbus Circle - the area's transportation and high-end shopping hub - and home to some of the area's, and city's, most established and renowned restaurants: Marea, Jean Georges and Per Se, to name a few.And if you've saved room for dessert, or at least a cookie, a trip to the Upper West Side wouldn't be complete without a visit to Levain Bakery, home to what many would consider New York City's best cookie.
Home Design Trends
Raising Your Ceiling Game!
The new year is already looking up — or, at least, your ceilings are looking better. According to Elle Decor, "statement ceilings” are 2018's latest trend. Whether you choose paint, wallpaper, or intricate textures, you might want to pay a little more attention to what's above your head in your home. Check out our curated Pinterest board of the many techniques, trends and styles used to make your ceiling stand high above the rest.
Dealing with the Cold
In the last month, New York City has endured record low temperatures. Homes in New York and other cold-climate cities have different needs than ones in warmer climates. We're tackling the basics to help you ensure that your home is "extreme cold proof" in these harsh weather times.
Windows and Doors: If you have windows that are leaking cold air, it may be time to upgrade your windows to double or triple paned. If doors are drafty, weather stripping is an easy and inexpensive solution.
Plumbing: It is important as the winter season approaches that homeowners (especially those with outdoor spaces) be sure to winterize all pipes, from irrigation lines to hoses, etc. It is not simply enough to turn the water off, you must clear the lines and protect the seals.
Generators: What happens if your electricity fails? Although not relevant to all NY'ers, for those living in private townhomes or small boutique buildings - losing power is a reality with winter storms, and extreme rain. A backup generator could be a worthwhile investment.
Off The Beaten Track
471 N Mashta Dr, Key Biscayne | $9,695,000 Jorge Uribe | ONE Sothebys's Int'l Realty
Spotlight on Miami
This month, we invite you to explore offerings in Miami, Florida from one of our global partners, Jorge Uribe at ONE Sotheby's International Realty. As temperatures plunge to new depths in the northeast, Miami can be a vibrant escape from the New York chill, and conveniently less than a three-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.