New York Real Estate Update—The Summer Market is Heating Up!

New York Real Estate Update—The Summer Market is Heating Up!

To say the New York real estate market has been heating up would actually be an understatement. Everyone is working hard to make up for lost time and we’re seeing a flurry of activity this month. Inventory is back on the rise as buyers, sellers and renters are all eager to make their moves as soon as possible. In fact, we expect this to be one of our busiest summer markets ever!

Phase 2 Reopening

As of June 22, we have been in Phase 2 of New York City’s COVID-19 reopening plan, which allows New York real estate brokers to show properties again. There are some strict safety guidelines we all need to follow to help prevent any further spread of coronavirus. Wearing face coverings and taking other sanitary precautions are small prices to pay, though. It just feels good to get out there and meet with clients once again. That is truly what we missed most while quarantining at home all these months.

122 Newton Street #1

Perhaps the most exciting news in our real estate business has been the activity surrounding our listing at 122 Newton Street #1. This beautiful duplex has garnered a lot of attention in the press (Time Out | New York Times) and we’ve now gone into contract after receiving multiple bids. The apartment features 1,256 square feet of outdoor space, including a large manicured lawn and planting beds. Even inside, you are treated to stunning views thanks to 12-foot ceilings and floor-to-ceiling casement windows.

The Desire for Outdoor Space

It’s easy to understand why this property is drawing so much attention in the 2020 summer market. New York real estate buyers are clamoring for more outdoor space. As we discussed in our June blog article, “private outdoor space” is currently the top search term in New York City home searches. After being cooped up inside so much during quarantine, it’s only natural to crave more time outdoors—especially if it’s still in the safety and privacy of our own homes.

We also represent the new condo development 200 East 59th Street, where every unit has its own spacious private outdoor terrace. Please contact us if you would like to get more information about this building and its other luxurious design features.

Congratulations and Welcome Back!

Last but not least, we want to welcome back our Director of Operations, Sarah Orenstein, as she returns from her maternity leave. We would like to take another opportunity to congratulate her while also expressing gratitude to have her back helping the team now that the market is so busy again. Thankfully our team Zoom calls helped us all stay in touch and up to date with everything while we were locked down and conducting what business we could remotely. Staying connected throughout all this has helped everyone on the team to get back into the swing of things as we settle into our “new normal” during this fast-paced summer market!

Tom Postilio and Mickey Conlon are leading New York real estate brokers focused on luxury homes in the Manhattan market. If you are thinking about buying or selling in the city, contact Tom & Mickey today.

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© 2023 Tom Postilio & Mickey Conlon