Dear Friends & Neighbors,

2025 is the year the real estate community has been waiting for, (or so we hope)!  After the two lowest transaction years in the last two decades, the expectation is that the bottleneck we experienced in sales will open up, and while we're only two weeks into the year... we're off to a great start!

Will the momentum continue? Despite the good (yet, bad) jobs report on Friday which put a damper on our hopes for interest rates cuts this year, it seems that folks want to move for the simple reason that people move... they want to live someplace new. We're starting to see increased inventory in Brooklyn (4th quarter inventory data in Brooklyn showed a 13% increase vs 4th quarter 2023), and Manhattan is finally seeing a turn-around, which I expect will coax more sellers out for the spring. 

What are our predictions for 2025?  While it depends on what the Fed does, perhaps after waiting for interest rates to drop, higher rates will become the new normal and the market will normalize. Of course, it's been a wild ride and I hesitate to make predictions beyond this quarter, or even tomorrow. 😉
 

One thing is for sure - it's a dynamic time in real estate with lots of industry shifts. If you are a tenant or landlord, you need to familiarize yourself with the new rental regulations involving criminal background checks for tenants, and as of this week, required agreements between buyers and buyer's agents. More on both of these things below. 

Now, let's dive into the fun part - new listings (including listings not publicly on the market)!

Edge North Penthouse 2B

View Photos and Floor Plan

This stunning Edge Penthouse offers triple exposure, all-day natural light, and expansive outdoor spaces. With 843 SF of exterior space, enjoy breathtaking Brooklyn and Manhattan views from a private terrace and two balconies. All located on the prime Williamsburg Waterfront with a tax abatement until 2036.
 
Available to show, call or email for inquiries!

394 Union Avenue

3,979 SF + 1,250 SF Exterior + Private Indoor Parking

View Photos and Floor Plan

Almost 4000SF and 25-feet wide, this renovated single-family home in Prime Williamsburg is the dream for a creative professional, complete with an artist studio or work space! The ground floor is enormous with incredible potential for various uses, such as a restaurant, business, or recording studio. It includes a kitchenette and direct access to the terrace.

The upstairs living space features an extra-large primary bedroom with ample closet space, and a grand entrance from the living room to a stunning 1,104 SF landscaped and irrigated terrace.

To complete this multifaceted dream home is a private garage!

Email or call me for more information.

• Brooklyn Q4 '24 Market Report
• Manhattan Q4 '24 Market Report

The Fair Chance Act: 

There's been an update to criminal background checks starting in 2025, and they are no longer part of the standard tenant screening process. Criminal background checks can only be conducted after a conditional offer of housing is made, and with required notice to the applicant. Feel free to reach out to our team for further clarification. 

Buyer's Agreements:

As of this Monday, it is required that buyers and buyer's agents have an agreement in place to see properties together. While more paperwork is never fun, it serves to formalize the very important role of a buyer's agent and we believe this will lead to better buyer representation. Our team offers a full suite of services to our buyer clients found here, and happy to chat with you about the variety of agreements you can choose from!

1 Northside Piers, #8C

770 Lafayette Avenue, #2R