A well-run board can have a direct impact on apartment values. Owning a home in New York City is a privilege; I’m both a cooperative shareholder and a sitting board member. At times this can be tedious and challenging - I’ll be the first to admit that. But as a broker, I’ve learned that a well-run board can often equate to a direct influence on apartment value.

As a broker, I often find myself explaining why similar apartments in comparable buildings sell for drastically different prices per square foot. True to many aspects of life in New York City, the explanation is full of nuances.

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Buyers in New York often come to me with a strong idea of what they’re looking for. They may know what neighborhood they want to live in; they might know how many bedrooms they need and if they want a condo or a coop. But one purchase scenario many clients don’t take the time to consider is whether or not they want new construction/new development. 

One of the questions I’m asked most frequently these days is whether there’s any room in the NYC market for aspiring home-buyers who can’t afford to pay all or mostly in cash.

By now, everyone has heard about the reigning seller’s market. These days we’re bombarded ad nauseam with opinions, recommendations, and statistics referencing the infallibility of the seller’s primed position.

Most people think making money from Manhattan real estate investment is a sure thing. When a client wants to have a discussion around real estate as an investment, for either a personal residence or rental property, they usually already have an expectation that investing a set amount of money will result in a considerable return.

Here’s a scenario that happens all the time: A client says, “My bank just pre-approved me for a million dollars! Let’s go get that expensive loft I’ve been dreaming about!”

The path of least resistance — bridging the gap between apartment wants and neighborhood realities. I’ve had many clients over the years – both those who know the city well, and those less so – who share with me a crystal-clear vision for the type of home they want, but seem much less certain about where they want to live. This often creates a disconnect.

I receive a lot of calls from clients and colleagues asking about renovations and how they’ll improve the overall value of their apartments. They are often surprised by what I have to say. Why?