Issue 85 – It’s No Secret That Wall Street Has Been Shaken By Volatility
As the conflict in Ukraine continues to escalate, its far-reaching financial consequences are becoming more apparent. We have now seen the Dow record its fourth consecutive week of losses amid fresh worries about the global economy while oil prices have shot up to nearly $130 per barrel, 57% higher than the start of the year. […]
Issue 84 – New Year, New Mayor, New York.
New Year, new mayor. And in true New York spirit, Eric Adams wasted no time. Almost as soon as he was sworn in, Mayor Adams began urging New York businesses to bring employees back to the office, starting with a three-day work week. “COVID is here. We have to learn to live with it in […]
Issue 83 – What the Upper Manhattan Market Says About New York City’s Real Estate
Now that fall has started, it’s worth analyzing one of the most memorable summers ever in real estate. I’m personally capping the season with a deal that we just signed — a $27 million deal for a very large two-bed, two-bath condo on Billionaire’s Row in Midtown East. It’s an incredible unit, and the most […]
Issue 82 – A Record-Setting July: The New Momentum Behind the Booming New York Market
Just a few weeks ago, I was up until 11:30 at night fielding offers in a bidding war. For July, it’s practically unheard of. Don’t get me wrong — it’s a beautiful unit: a classic seven facing Central Park on the Upper West Side, gilded architectural favorite Emory Roth in a pre-war building with lots […]
Issue 81 – Green shoots abound, with key signs indicating a buoyant 2021 NYC real estate market
I find it hard to believe it’s been 15 months since the COVID crisis began, and I can’t tell if it feels like years ago or just yesterday we were scrambling for information with fear reigning across the globe. Thinking back over this period, it’s been amazing how far we’ve come on so many fronts, […]
Issue 80 – Making heads and tails of 2020 news flow, and what it means for NYC real estate
News flow in 2020 sure has started with a bang. Each week has unveiled developments that may have a real impact on the New York City real estate community; some promising, some not so much. In this edition of the Katzen Report, I will to do my best to summarize these new developments, which include […]
Issue 79 – Conflicting messages? Assessing the state of the NYC real estate market
Despite treading near historic highs, there seems to be a feeling of uneasiness in the global markets. Volatility has become the norm, and most believe it is here to stay. Whether it’s the trade war with China, uncertain Fed policy, the impeachment inquiry, Brexit, recession fears, or the potential for a market unfriendly presidential election […]
Issue 78 – Understanding the Ins and Outs of Renting a Property Prior to Sale
The sometimes difficult and often emotional decision to move from one’s home can be driven by a variety of factors. It could be a growing family makes the home too small, kids off to college makes it too big, you’ve had your fill of city life, or you just plain want a change of location, […]
Issue 77- New taxes, and bridging the psychological divide
The past month has been a wild ride in New York City real estate, highlighted by the passing of a progressive mansion (and transfer) tax which followed much debate regarding a potential pied-a-terre tax. I wanted to offer a few thoughts on this topic, as well as some broader, more encouraging observations on market trends […]
Issue 76- ARE CO-OPS OBSOLETE?
With the explosion in new development, the media loves to beat up New York City co-ops. But lately, they’ve been having more fun than usual. With articles like Forbes’s “Why Co-Ops May be a Thing of the Past” and The Real Deal’s “Fading beauty? In a sea of new dev, UES co-ops have fewer takers,” the old stalwarts of […]