Trump 2.0 - The Real Estate Impact

Happy Fall everyone! It's been two weeks since a decisive Election Day. As the Democrats pick up the pieces and the new administration spells out its agenda, we will concern ourselves with how President Trump's second stint in office will affect the real estate world.

Rates - Earlier this month, The Fed cut rates for the second time since the end of summer. Many prognosticators feel future cuts might be halted or slowed based on the President-elect's economic policy. The Fed has proven to be beholden to the underlying bond market, slower inflation, and a cooling economy to cut rates. Interest rates are obviously a critical component of the home-buying process, thus we can only wait and see how The Fed reacts.

Red Tape - The President-elect has called for the slashing of regulations and permit requirements that too often burden and add costs to homebuilders. This was met positively as homebuilder sentiment rose 3 points citing potential de-regulation as a plus. Many economists agree that streamlining and eliminating regulations would help boost home construction and reduce costs, though the extent of price relief remains to be seen. Further complicating matters is that much of the bureaucracy that impeeds/drives up the cost of property development lies with state and local municipalities. 

Immigration - One of the mandates that elevated Trump back to the White House is his stance on the deportation of illegal immigrants.  Without dissecting the viability and challenges of mass deportation, there is a credible concern that the loss of many undocumented laborers will drive up construction costs, thereby hitting buyers in the wallet. Roughly a third of residential housing laborers/employees are foreign-born. Trump counters this with the fact that less people will mean less competition for housing.

SALT Deduction - President-elect Trump has expressed his desire to reinstall the popular SALT tax deduction specifically benefiting property owners. Ironically it's the same program that Trump cut while in office the first time. This is a rare case in Washington where both sides can find common ground. Republican legislators from high-tax states have constituents who have been affected, while many Democrats believe that the cap unfairly targeted blue cities.

Featured Listings

Sold & Closed!

252 7th Avenue, Unit 12L

1 BD 1 BA 1001 SF $1,595,000

Just REduced!

80 Park Avenue, Unit 17B

1 BD 1 BA 811 SF $900,000

Featured Development

One Williamsburg Wharf is bringing world-class, resort-style living to the final premium property along Brooklyn’s East River – a 3.75-acre expanse of land with over 525 feet of waterfront. Designed with a promenade, pathways, and green spaces, it fosters dynamic connectivity between the urban streetscape and the refreshing breadth of the river. Within this transformative community, five new residential buildings, extensive amenities, and retail destinations will create a vibrant, elevated lifestyle.

Interiors at One Williamsburg Wharf are modern yet timeless. Curtain wall windows with bronze-finished mullions frame breathtaking river and city views. Wide plank white oak floors run throughout spacious open-plan layouts. Kitchens boast custom cabinetry, honed Calacatta Gold Quartz slab countertops and backsplashes, InSinkerator garbage disposals, matte black Waterworks pull-down faucets, and high-end integrated appliances from Miele. All have in-home washers and dryers, and select residences have windowed entry galleries, direct-vent gas fireplaces, direct roof terrace access, and wine refrigerators from Sub-Zero or U-Line.

One Williamsburg Wharf occupies one of the last waterfront parcels in Williamsburg. Residents are seconds from exciting dining and nightlife options like Peter Luger, Aska, L’Industrie, Pokito, and Meadowsweet. Domino Park is a few blocks away.

Accessible public transportation options include several bus lines, the M, J, and Z subway lines, and the NYC Ferry only 200 feet from your doorstep.

Contact us for a private viewing today!

Local Happenings

NOVEMBER 28, 2024

The 98th Annual Macy's Thanksgiving Day Parade

Before America gets turnt on turkey and settles in to watch some football, all eyes turn to Manhattan during the Macy’s Thanksgiving Day Parade. The annual pageant of giant balloons, floats, cheerleaders, clowns, marching bands, Broadway performances and celebs is one of the best NYC events in November.

Click HERE to learn more!

NOV 20 – JAN 5, 2025

Luna Luna: Forgotten Fantasy

Hold on! There's an arsty carnival displaying authentic installation pieces by some of the world's most influential artists from the 20th century? Sign me up! What has been described as “The art event of the year”, by The Independent, Luna Luna was created on the idea of the world's first art amusement park.

Click HERE to learn more!

Featured Restaurant

Brass is the latest project of Wildair and Contra veterans Jeremiah Stone and Fabián von Hauske Valtierra inside the Evelyn Hotel, where they also oversee the Tusk Bar’s food. Decorated with colorful murals and a grand piano anchoring the room, Brass begins with appetizers like a chopped heirloom tomato salad stippled with hearts of palm. A moules frites dish arrives on chickpea panisse. Main courses run from tilefish in saffron sauce to pork shoulder a la moutarde. They also offer miniature cocktails for those who want to sip without a buzz (at half the price of a $24 cocktail).

-Courtesy of Eater

Barbara Quaranta

Licensed Real Estate Salesperson

M: 917.428.9658

barbara.quaranta@compass.com

The Marrus / Goldberg Team

The Marrus / Goldberg Team at Compass

M: 917.224.3100

M: 516.606.0481

mgt@compass.com