NYC Real Estate News by Fernando Branco, Real Estate Broker, GRI, ABR, CNE - Fernando Branco Realty

2021 Year-End Report Manhattan Luxury Market Update The Luxury Market was on fire in 2021!  1,877 Contracts were signed at $4 million and above, totaling $15,912,375,308 which is a record-shattering number going back to the early 2000s. It is almost three times the number of transactions in 2020 and double the number in 2019.  The totals for signed contracts and overall volume are about 30% higher than the highest years of 2013-2015.  The biggest pandemic trend was to go for bigger places! Size was very important more than ever! In 2020-2021, the average size of Lux condo deals was larger than 2,900 square feet, which is about 5% larger than the previous 7 years.  Size was very important in townhouses as well. There were 212 contracts signed in 2021. Way more than the record of 153 transactions in 2014.  The $10M and higher lux property market had 400 contracts signed in 2021, which is extremely higher than the record 270 transactions in 2014. The majority of these properties had over

WOULD YOU LIKE TO KNOW MORE? PLEASE CONTACT US! IT IS OUR PLEASURE TO ASSIST YOU! THANK YOU!  Fernando & Team Fernando Branco , GRI, ABR, CNE PRINCIPAL BROKER Residential Real Estate Commercial Sales & Leasing  Graduate Realtor Institute (GRI)  Accredited Buyer Representative (ABR)  Certified Negotiator Expert (CNE) Fernando Branco Realty 162 Huntington St, Ste 1R, Brooklyn, NY 11231 c: (212) 321-0115 e:  Team@fernandobrancorealty.com Working by referral. Let us help you find a home too!!

Weekly Manhattan Luxury Market Update - Oct 25, 2021 Forty-seven contracts were signed at the $4 million and above, which is only 3 fewer than we had on that previous week.   Quick Stats:  - 31 Condo Units with an average asking price of $8.1M and an average $/sqft of $2,999. - 10 Coop Units with an average asking price of $8.3M. - 6 Townhouses with an average asking price of $7.7M and an average $/sqft of $1,562.  - The overall average asking price: $8.1M. - The median asking price: $5.9M. - The total average listing discount: 8%. -The average number of days on the market: 452. October is starting at a very high pace for contracts signed! There were 184 signed contracts in the past 4 weeks at $4 million and above.   This past week, for the 14th time this year, there were 40 or more contracts signed at the luxury market price point.  WOULD YOU LIKE TO KNOW MORE? PLEASE CONTACT US! IT IS OUR PLEASURE TO ASSIST YOU! THANK YOU!  Fernando & Team Fernando Branco , GRI, ABR, CNE PRINCIPA

Weekly Manhattan Market Update - Oct 8, 2021  A weekly real-time narrative on all the talking points you need to know about the Manhattan Real Estate market as it happens. Get ahead of the curve and know what's happening with this week's market update. This week's highlights:  Supply is on its biggest run since the reopening Pending sales ticks lower again The buyer discount window is open A peek at the weekly listing flow trends Movers & Shakers and a look at Price Action Weekly Manhattan Luxury Market Update - Oct 8, 2021 46 Contracts were signed at the $4 million and above, which is more than double last week's number of contracts signed.  - 32 Condo Units with an average asking price of $6,9M and average $/sqft of 2,743; - 7 Coop Units with an average asking price of 6,8M; - 7 Townhouses with an average asking price of $11.4M and an average $/sqft of 1,819.  - The overall average asking price: $7,6M - The median asking price: $5,650M - The total average listing

DO YOU HAVE QUESTIONS? LET US HELP YOU!  Fernando & Team Fernando Branco , GRI, ABR, CNE PRINCIPAL BROKER Residential Real Estate Commercial Sales & Leasing  Graduate Realtor Institute (GRI)  Accredited Buyer Representative (ABR)  Certified Negotiator Expert (CNE) Fernando Branco Realty 162 Huntington St, Ste 1R, Brooklyn, NY 11231 c: (212) 321-0115 e: Team@fernandobrancorealty.com Working by referral. Let us help you find a home too!! Fair Housing - Agency - Covid19 Disclosures

Good morning, Eric.  In Manhattan, there’s no signed offer.  The deal-related docs (with the terms of the offer and Condo docs) were sent to both seller’s and your attorneys.  The seller’s attorney will prepare the first draft of the contract and send it to your attorney (Steve Ebbin & Diana Umansky).  Meanwhile, Steve & Diana will start the due diligence work, looking through the Condo’s offering plan, financials, etc., to make sure there are no major issues, pending litigation, and/or anything else that could be a potential risk for you as a new owner.  Steve & Diana will also negotiate clauses in the contract to protect your (buyer's) interests.  Once Steve & Diana finish their due diligence work and the contract negotiations, they will present you their findings and give you the negotiated contract for you to sign (likely Electronically) since you’re not in NYC.  At that point, you will make your deposit (likely via a wire) of 10% of the purchase price.  The sig

Mortgages for teachers and first responders   Written by   Zach Wichter Aug. 2, 2021 / 2 min read   Edited By   Bill McGuire Share this page At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict  editorial integrity , this post may contain references to products from our partners. Here’s an explanation for  how we make money. A new bipartisan bill in the House of Representatives, called the HELPER Act (or Homes for Every Local Protector, Educator, and Responder) aims to help teachers and other first responders who kept things going during the height of the COVID-19 pandemic by providing them with a one-time, down payment-free  mortgage . The bill still has a way to go before possibly being enacted, but if it is passed, here’s what it could mean for those covered by the legislation. We also have information on existing programs for people in these professions. What is the HELPER Act? The bill would create a one-time home loan program under the Fed

New York City’s affordable HDFC co-ops, explained Everything you need to know about HDFC co-ops, one path to affordable homeownership in New York City By  Emily Nonko     Mar 25, 2020, 8:56am EDT New York City’s  affordable housing stock  mostly consists of  rental apartments , but for those who are in the market to buy, there is one reliable source for  homeownership  on a budget.  Housing Development Fund Corporation cooperatives , better known as HDFC co-ops (which are also advertised as “income-restricted” or “restricted sale” apartments), are often priced much lower than a typical NYC apartment, but require buyers to meet certain income caps while also having significant financial assets on hand. These unique requirements mean that apartments in great locations with surprisingly low prices (for New York real estate, anyways) often end up languishing on the market. But if you’re a buyer that fits the requirements and is willing to put in a bit of legwork—including doing some resear

Summer lull hits Manhattan’s luxury market Contract signings drop to five-month low New York   / July  12, 2021   11:01 AM By  Erin Hudson Week after week, from February to the first week of July, more than 30 buyers signed contracts to purchase Manhattan homes asking more than $4 million. The 22-week streak reflected an unprecedented wave of buyer activity that smashed the prior record of six weeks during the hot spring market of 2015. But  it’s over now . The record-setting run came to an end last week when only 28 buyers penned contracts for luxury homes, according to the Olshan Report, which tracks the volume and value of Manhattan’s luxury contracts. “We can’t cry,” said Donna Olshan, the report’s author. “It was a holiday week and all good things end at some point, but the market is still strong and we could be back to over 30 next week.” Last week’s deals included 24 condos, two co-operatives and two townhouses. But even with fewer transactions, last week’s sales volume by final