The Millionaire and The Miser
New York City has a variety of hues when it comes to income classes. There could be low income housing just blocks away, and yet a new mega luxury condo could be sprouting. Out of the thousands of homes in the sky, only very few can afford the ultra $20MM+ real estate pieces. This leaves US; “HUMBLE” millionaires on miser budget lurking in this city to find the perfect home that meets our grand Financial Plans.
So - you can’t make up your mind?
Truly successful decision making is a balance between deliberate and instinctive thinking. I let buyers hone in on their instinct while supporting them with deliberate and solid data.
Deliberate Thinking can become our ACTION PLAN. What is your monthly budget? What will the apartment accomplish for you? Maybe it becomes a place for your children to use. Maybe it’s a straight investment for supplemental rental income.
Instinctive Thinking is sort of your “sixth sense” power. What does the space invite? Are you going to write/paint/ create here? Maybe it’s a “home hotel” to use after entertaining clients? Or my personal favorite - maybe you just want the real '“street cred”, the NYC bragging rights to say you own a slice of the city? Whatever it may be, your gut feeling about a place, a view, and a neighborhood will draw you to want to live there. For 5 years in NYC, I rented and lived in a new neighborhood every year. Absorbing and learning about the attractiveness of each. Ultimately your lifestyle and what you manifest your circle to become will draw you to want to live in a certain area. You have to LOVE the space, so choose wisely.
How can the right Broker ( ahem) or me personally help?
By streamlining the process.
Analyzing past sales comparables is simply not enough to fine tune an apartment’s true value in unique market conditions. Don't get lost in the data itself, together we have to understand the board’s concerns, package preparation, and review updates from management to know what sets your building, yet alone your apartment, apart. I personally coordinate all tours for clients, prepared with a comparison chart, laser measure, and price per square foot monthly review. As we stand in front of the door to your potential new home, it's important to have the take-aways top of mind.
By having a team of “Can Do” professionals.
In a recent buy- side transaction, we timed the renovation proposal for the client perfectly. This means there was no wasted time between gathering the appropriate permits, paperwork, and approvals prior to work commencement and just before the clients moved into their new home. Balancing a rental unit while renovating an apartment IS doable. 499 Clinton Street #2, was the co-op purchase we facilitated this magic for.
In a recent sale side transaction at 75 Henry Street, we strategically staged and reformatted the space to visually make sense. The flow of tours from the front door through the living spaces of the apartment, while uncovering the knacks for hidden storage really helped this sales opportunity shine. All thanks to being connected to the RIGHT people to get the task done.
If you’re still on the fence, paying rent, or restructuring your retirement plans. Let’s speak about how selling or buying in 2021 can be achieved.