September 2023 Newsletter

Hello Fall

As the leaves begin to change and a crispness fills the air, we welcome the arrival of fall with open arms. This season brings a sense of warmth, comfort, and new beginnings, making it the perfect time to reflect on the year so far and embrace the opportunities that lie ahead.

So grab a cup of cider, cozy up by the fire, and let's dive into all that fall has to offer in the world of real estate and beyond!

Did You Know?

The pitcher with the most strikeouts also has the most walks. (Nolan Ryan, 5,714)
The pitcher with the most wins also has the most losses.
(Cy Young, 511)

I think you know where I'm going with this...

Compass in the News

Compass Reports its Second Quarter 2023 Results

...confirming that we have delivered on our commitment to being free cash flow positive, with $51M in free cash flow. This means that we generated more cash than we spent on operations. 

While driving sales volume of $56.8B and over 54,000 transactions, we increased market share for the third straight quarter and saw principal agent retention of 98% for the quarter. 

No matter the market environment, we are outpacing the industry and continue to lay the groundwork for our future success.

Real Estate in the News

Robert Reffkin Talks Real Estate on Bloomberg

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More Than 13K Rent-stabilized Units in NYC Are Sitting Empty for Multiple Years

Tenant organizations, landlord groups and policymakers have been trying to determine the exact number of empty rent-stabilized units in New York as the city contends with a dire housing shortage, surging homelessness and record-breaking rents. The issue of empty and “warehoused” apartments is fueling intense debate, proposing legislation that would force owners to bring apartments back on the market.

Courtesy of Gothamist

Brooklyn's First Supertall Skyscraper Reaches Completion

New York studio SHoP Architects has completed the black & bronze facade of the supertall skyscraper Brooklyn Tower, the tallest building in the borough. At 93 storeys and 1,066 feet (325 metres) tall, the supertall skyscraper topped out in March 2023, but the intricate cladding of its exterior was only recently completed.

The skyscraper features blackened stainless panels running from the top of the tower towards the bottom, where it meets the preserved, historic Dimes Savings Bank, which has been integrated into the tower's podium. Read more about the 500 unit tower + retail HERE.

Q3 Manhattan Market Report

Local News

Manhattan Unveils its 1st Public Beach Along the Hudson River

The Gansevoort peninsula was previously a depot for the Dept of Sanitation. It sits across from the Whitney Museum alongside the Hudson River Greenway. Surrounding the peninsula are views of the Statue of Liberty and One WTC. Read Gothamist.

NYC Pizzeria Named 2nd Best in the World

Alongside Naples and Rome, which are obvious pizza staples, NY is the most represented city in the ranking, boasting a total of 5 pizzerias on the list, including Ribalta (#22), Song' E Napule (#33), Kesté (#72 on the list) and Ops (#92).

Click HERE for the top 100.

Outdoor Dining Will be Allowed From April to November

The program allows for year-round outdoor dining options: 12 months of sidewalk dining, similar to the pre-pandemic program, and for the first time will allow permanent roadway dining for the warmer 8 months of the year. NY City Council for more details.

Relationships

lying flatism

Lying flatism is a trending philosophy that has emerged and practiced by young adults who choose to live a minimalist lifestyle and reject the pressures of society. They refuse to participate in consumerist lifestyles, such as pursuing high-paying jobs, material possessions, getting married, or having children. They believe that personal efforts are no longer effective in improving their lives due to structural and societal factors. Are You a Lying Flatist?

Interesting (to me) Corner

A Chinese Community That Lives on a Bridge

In Chongqing, China, there is an entire neighborhood built over a bridge. Reasons behind the existence of this bizarre project are purely  economic and touristic. The local government wanted to invent something so curious and unique as to attract hordes of visitors.

Read/Watch

Spider Silk is Stronger Than Steel

If we ever manage to develop a synthetic equivalent with these characteristics, a new world of possibilities may open: Artificial spider silk could replace materials like Kevlar, polyester, and carbon fiber in industries and be used, for example, to make lightweight and flexible bulletproof vests. Article.

Health & Fitness

Train Your Brain to Run 100 Miles

A 100-mile race will uproot all of your weaknesses and throw them in your face without a hint of mercy. The course will take everything from you while owing you nothing in return, which is why it pays to put yourself through such rigorous training and armor yourself for battle.

Courtesy of Ultrarunnung Magazine

Does Running Actually Build Muscle?

Yes, running does build muscle. Or at least, it can. Short-duration, high-intensity workouts will cause growth in the muscles of your legs, as long as your body has the raw materials it needs to build that muscle.

Read LIVESCIENCE

Featured Listings

carnegie Hill

1349 Lexington Avenue, Unit 6B

3 BD   2 BA   2126 SF   $2,150,000 (CONTRACT SIGNED)

carnegie hill

1349 Lexington Avenue, Unit 5F

3 BD   2 BA   Reduced to: $1,575,000
(BACK ON MARKET)

Chelsea

252 7th Avenue, Unit 3U

2 BD   2 BA   1665 SF   $9,500
(RENTED)

Handling Any Curveball That Comes Our Way & Knocking It Out of the Park!

*30 CLIENT TESTIMONIALS*

Jeffrey Bua
RMJ Home Team

Lic. Assoc. R.E. Broker
M: 917.991.1792
jeff.bua@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.