Ariel Chazen

02/23/2022

Congratulations to our buyers that closed today on this beautiful apartment in the Lower East Side!

Thinking of buying or selling in NYC? Contact me at 973 507-6109

01/13/2022

Exciting new project is coming up soon.. Stay tuned

04/05/2021

It's definitely alive!!

It’s alive! That’s what we learned about the New York City real estate market during the firstquarter of 2021.

03/12/2021

How New Yorkers can take advantage of the city's oversupply of luxury condos

You don't have to be shopping for a $3 million apartment to take advantage of the oversupply of luxury condos in New York City. For the past two years, high-end apartments have been lagging on the market and that has predictably had a ripple effect on the rest of the city's inventory.



https://www.linkedin.com/pulse/how-new-yorkers-can-take-advantage-citys-oversupply-luxury-chazen

03/05/2021

Just Sold!

03/03/2021

The Biggest Price Killer Is Time.

Check this chart from Urbandigs breaking down the % of asking price reduction over time

03/02/2021

Whether you're buying or selling real estate in NYC, you can expect to pay a hefty amount of taxes and fees at the closing table—some that you may expect and others that are unique to New York.

Here is a brack down of everything you should know.



https://www.linkedin.com/pulse/closing-costs-guide-nyc-buyers-sellers-ariel-chazen

02/22/2021

Check this out.

https://www.bloomberg.com/news/articles/2021-02-22/real-estate-investing-where-multimillionaires-are-putting-their-money

Tiger 21 members think retail stores are doomed, but industrial and workforce housing is hot.

02/19/2021

NYC Real Estate Sales Surge in January

Investment and residential sales across New York City totaled $6 billion in January 2021, a 38% increase compared to January 2020, the Real Estate Board of New York said Thursday. Last month’s sales tally also represented a 21% gain in December 2020.

The improvement in sales volume also meant a 31% increase in real estate transfer taxes. Since real estate is the fundamental driver of New York City’s economy, that bodes well for the city’s recovery, according to REBNY.

“As New York City continues to face significant challenges, tax revenue generated by the resurgence of real estate market activity will play a central role in driving the City’s economic recovery and funding basic government services that millions of New Yorkers rely on,” said REBNY president James Whelan.

However, with both sales volume and tax revenues down substantially since the pandemic began, the road to recovery will be long, said REBNY.

02/12/2021

The Real Estate Board of New York reported that New York City’s total residential sales volume and total residential transactions increased significantly in the final quarter of 2020.

According to the board’s Q4 2020 Quarterly Residential Sales Report, the end-of-year surge was driven by particularly strong activity in the four boroughs outside Manhattan.

Citywide total residential sales volume increased to $9 billion in Q4 2020 from $6.5 billion in Q3 2020, representing a nearly 40 percent quarterly increase in sales volume. This turnaround came after three consecutive quarters of declining sales volume.

Citywide total residential transactions increased to 9,397 sales in Q4 2020 from 6,305 sales in Q3 2020, representing a nearly 50 percent quarterly increase in transactions. This boost in activity also came after three consecutive quarters of declining transactions.

The reports also found significant quarterly changes from Q3 to Q4 2020 by borough:

Brooklyn: Sales volume increased 90% and transactions increased 73%
Queens: Sales volume increased 69% and transactions increased 56%
Staten Island: Sales volume increased 56% and transactions increased 52%
Bronx: Sales volume increased 50% and transactions increased 39%
Manhattan: Sales volume remained flat while transactions increased 18%

02/05/2021

Some Green news in new york city!

https://www.washingtonpost.com/climate-solutions/2021/02/03/climate-empire-state-wind/

The Empire State Building and its 13 related properties are buying wind power, making it the nation's largest real estate portfolio to go green.

02/03/2021

For those of us who like some numbers here is a look at NYC’s multifamily investment sales across the boroughs.

https://www.forbes.com/sites/shimonshkury/2021/02/01/new-york-citys-2020-multifamily-market-by-the-numbers/?sh=598c32ee173e

New York City’s multifamily market recorded its lowest dollar and transaction volumes in the past decade and the city grossed $4.51 billion across 232 transactions that consisted of 424 buildings.