December 2023 Newsletter NYC

Hello December!

December is a month filled with traditions, gatherings with loved ones, and the opportunity to reflect on the journey you have traveled for the last 12 months. What have you learned? What are your dreams for the future? Do you feel you have found your place? 

Market Update

Your November 2023
NYC Market Snapshots are Here!

Curious about the real estate market? I'm here to provide valuable insights into the market so you can stay educated and informed.
I'm pleased to share Compass' November 2023 NYC Market Snapshots, highlighting the prevailing trends shaping the market.

View Manhattan Report

View Brooklyn Report

Have questions about market forecasts and trends, or
anything else real estate-related? I'd love to connect!

Real Estate in the News

Housing Market Predictions for 2024

Declining mortgage rates—it’s the holiday gift that keeps on giving.
Since hitting a 2023 high in late October, the average 30-year fixed receded below 7% in mid-December for the first time in four months.
The average 30-year fixed rate slid another 28 basis points this week to 6.67%, the eighth consecutive week of decreases, according to Freddie Mac. A basis point is one-hundredth of one percentage point.
Yet, despite this easing, a perfect storm of still-high mortgage rates and home prices amid historically low housing stock continues to put homeownership out of reach for many—most notably first-time buyers—who remain more pessimistic than ever about being able to afford a home as we close in on 2024.

Courtesy of Forbes

The 10 Best Real Estate Markets for 2024

A stubborn lack of inventory and high mortgage rates kept many prospective homebuyers at bay for most of 2023. But as we head into the new year, which markets are poised to see the strongest combined increase in home sales and listing prices?

Courtesy of USA Today

New Development of the Month

Nive Chapel in Downtown Brooklyn

A new landmark for Downtown Brooklyn, 9 Chapel is a 14-story freestanding condominium tower developed by Tankhouse and designed by award-winning architecture studio SO-IL. The exterior is draped in a fine undulating, shimmering skin of perforated lightweight metal, reflecting light and accentuating 360-degree views of both downtown Brooklyn and Manhattan. The transparency of 9 Chapel brings the outside in, with residences from one-to-four-bedroom homes, each with substantial private outdoor space, delivering the highly sought-after blend of indoor and outdoor living.

                 1 to 4 - Bedroom Residences opening Q-1 2024

Reach out for more details

New Openings

Café Carmellini

Café Carmellini is the signature restaurant from James Beard Award-winning chef Andrew Carmellini. Here Chef Carmellini distills his 30-year career cooking in New York City into an extraordinary fine dining experience: his food marries Italian and French cooking to a classic New York feel and a modern vibe.
The design imbues the landmark building’s original neoclassical architecture with a maximalist style. Café Carmellini features a welcoming kitchen, an intimate bar, and balconies offering tête-à-tête dining experiences with a view of the action.

Cafe Carmellini 
250 5th Avenue, NY, NY 10001

Local Happenings

December Through January 5

Dior Carousel of Dreams at Saks

Dior has transformed the 10-story facade of Saks' New York flagship with a reimagined holiday window display and light show experience, along with installations in-store and a Dior pop-up.
Click HERE to learn more!

all month long

2023 Holiday Window Displays in NYC

One of the best holiday attractions in NYC is its Christmas and holiday window displays at its department stores. Tourists aren’t the only ones who can enjoy these festive showcases in Herald Square and Fifth Avenue—even for locals, they hold a dreamy nostalgia that only comes once a year.
Click HERE to learn more!

all month long

Lightscape at Brooklyn Botanic Garden

Lightscape, an illuminated trail of art from local and international artists, features the iconic Winter Cathedral and a larger Fire Garden—all set to over a million lights, color and music. This year, it has been reimagined with a longer trail and new immersive experiences along the way.
Click HERE to learn more!

DECEMBER through March 3

Winter Village at 
Bryant Park 

The Winter Village at Bryant Park is back in all its holiday glory. Expect loads of handmade, unique and New York City-specific gifts for your family and friends. Work up an appetite at the 17,000-square-foot ice-skating rink and then fill up at the rinkside pop-up restaurant called The Lodge for festive cocktails and hearty food beside the tree.
Click HERE to learn more!

Lifestyle Tips and Tricks

Best Places to Retire in 2024

The Best Places to Retire ranking can help you decide where to spend your golden years. Where will you end up?

Courtesy of US News

25 Dated Design Trends and Solutions

As design trends come and go, there are some that we wish would never come back around. Check out these dated design trends and their solutions.

Courtesy of HGTV

Best Outdoor Christmas Lights

After you've decked your halls and your tree, it's time to take the holiday glow outside. We've rounded up the best sparkle and shine for your home's exterior.

Courtesy of HGTV

Best Practices for Using Storage to Organize a Home

New homes are shrinking in size and storage space, and older homes have their share of storage woes as well, which makes it difficult for homeowners to keep their homes tidy and organized.

Courtesy of NAR

Featured Listings

Upper West Side

65 West 107th Street, Unit 5C

1 BD   1 BA   550 SF   $689,000

Upper West Side

80 Riverside Boulevard, Unit 23C

3 BD   3 BA   1740 SF   $14,000

Thanks for reading and subscribing! Ready to achieve your next real estate goal?

Reach out to chat!

Lena Simpson

NY/NJ | Member of True North Team
Lic. Assoc. R.E. Broker l Lic. as Yelena Simpson
M: 917.664.6617
lena.simpson@compass.com

Office: 212-913-9058

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.