Biton Real Estate

JUNIOR 4 ON THE UPPER WEST SIDE
📍 410 Central Park West, 16D

Flooded with natural sunlight, the spacious living room is ideal for either relaxing or hosting. The brand new kitchen offers ample cabinet space, plenty of counter space, and a new set of stainless steel appliances. The king size bedroom offers both north and west exposures making for a beautiful place to wake-up every morning.

Located on the 16th floor the open, unobstructed, views from the dining area, living room, and bedroom are awe inspiring.

Co-op building features a full-time doorman, two elevators, super on site, laundry facility on-site, small gym, bike room as well as a storage room.

The perfectly situated building is located right on Central Park west.

OFFER ACCEPTED!
📍 Riverside Drive
3 br l 2 ba l UWS

This is a gorgeous Classic 6! It offers 3 bedrooms, 2 bathrooms and amazing river views!

Article #3 - Condos Vs Co-ops

Coops and condos are two popular types of housing in New York City, but they have significant differences that potential buyers should be aware of before making a purchase.
One major difference between the two is the cost of closing. Condos tend to have higher closing costs than coops. Even though condos tend to ask for a smaller downpayment than coops, they do have other costs such as title fee and title insurance that can be significant depending on the apartment price point.

Continue reading in WWW.BITONREALESTATE.COM

Article #2 - Buying a coop in NYC and the need to use a broker
Read the full article on WWW.BITONREALESTATE.COM

Buying a coop in NYC can be a challenging and overwhelming process. From finding the right building and unit to navigating the legal and financial aspects of the transaction, there are many obstacles that can arise. That's why it's important to have a knowledgeable and experienced broker by your side to guide you through the process.

Make sure the broker of your choice has specific knowledge about the neighborhood you are interested in. New York City is a big and diverse place, and different areas have their own unique characteristics and dynamics.

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Article #1 - Current Interest rate status
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When it comes to buying a home, interest rates play a crucial role in determining the overall cost of the mortgage. The current interest rate of 6.5% is a steep increase from the 3% interest rates of the past few years, which may make some buyers hesitant to enter the market. However, there are several advantages to buying a home at this time despite the increased interest rate. Here are 5 reasons why now is still a great time to buy a home even with the current interest rate at 6.5%.

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Congratulations to the new owner!
📍 175 West 95th Street
1 br l 1 ba l UWS

This luxury contemporary one bedroom has a modernized kitchen and bathroom with high quality finishes.

Off the kitchen is a well-proportioned sunny windowed living room with ample space to either relax or entertain.

The building has a generous state-of-the-art fitness center and a playroom.

The location is offers access to both Central and Riverside parks, subway lines, Whole Foods and Trader Joe's.

“The NYC Real Estate market is resetting”

While prices are still higher than a year ago, Manhattan’s market is easing after more than a year of ballooning prices and frenzied activity fueled by soaring stock prices and low borrowing costs.
It's time for the seller to meet the buyers at a price that works for both of them. That said, it's a good time to buy.

CLOSING DAY!
Another deal closed on the Upper West Side.

This apartment is a classic 7, a half block from Riverside Park, offers bright 3 bedroom, 3 bathroom + office.

NEW RENTAL UNIT
📍 675 West End Avenue
4 br l 3ba l UWS

COMING SOON JUNIOR 4 ON THE UPPER WEST SIDE
📍 Central Park West

Flooded with natural sunlight, the spacious living room is ideal for either relaxing or hosting. The brand new kitchen offers ample cabinet space, plenty of counter space, and a new set of stainless steel appliances. The king size bedroom offers both north and west exposures making for a beautiful place to wake-up every morning.

Located on the 16th floor the open, unobstructed, views from the dining area, living room, and bedroom are awe inspiring.

Co-op building features a full-time doorman, two elevators, super on site, laundry facility on-site, small gym, bike room as well as a storage room.

The perfectly situated building is located right on Central Park west.

Where to Buy a House in NYC 2022?

New York City's housing market is one of the most costly and competitive in the country. There are 237 neighborhoods in New York. Tribeca has a median listing price of $3.6M, making it the most expensive neighborhood. Here are some of New York's most popular neighborhoods, along with their median listing prices, as reported by Realtor.com as of April 2022.

Buyers have a bit more negotiating power in neighborhoods where the median home price falls between $700,000 and $1 million. In areas like Midtown East, where the median sales price is $872,500. Homes in Midtown East sold for approximately the asking price on average in Oct 2021.

If you think of investing in NYC, you have decided on a long-term investment property. Here are the ten neighborhoods in NYC having the highest real estate appreciation rates since 2000.

Inwood North
Marble Hill
Washington Heights Southeast
Roosevelt Island
W 115th St / Amsterdam Ave
E 57th St / Madison Ave
Madison Ave / E 52nd St
W 58th St / Grand Army Plz
Tribeca South
W 70th St / Amsterdam Ave

Board interview APPROVED!

Closing day!

Yesterday was a great day. We closed the purchase of 675 West End Avenue 2A. We represented the seller and the buyer in this transaction.

Review from another happy client!

Are you considering buying or selling an apartment this year on the UPPER WEST SIDE?

The indicators of UWS “Median Sale Prices” and the “Supply of Open Listings” metrics indicate a continuing softness since the “Median Sale Price” hit an inflection point in February, following a downward trend since. July data confirms that trend.

Even when this could sound disappointing, you should know that we’re facing a volatile economy that could shift at any moment. So, this is not all bad news. Some very good deals can be scored in down markets providing that one is adequately prepared and resourceful.

Get a free consultation today and check your options!

You will be delighted to call this place home! Spacious one bedroom
with pre-war charm features high beamed ceilings, french doors,
hardwood floors, and ample closet space.

Located on 92nd St and West End Avenue.
Moving ASAP.

PRICE YOUR HOME TO SELL

2022 is still a seller's market if you're looking to take advantage of relatively strong market. But it's important to note that the market is not as competitive as it was in 2021.

It is predicted that the home price growth will slow this year, from 17.8% last year to 10.4% in 2022 and 5% next year.

In order to sell your home you should know the prices on the market of the comparable homes. The asking price of a home should be within 10 percent of the average sold price in your neighborhood. Look for home sales in the past three months. Appraisers only look at comparable homes sold in the last three months.

Is Homeownership worth it?

Owning a home is how most Americans build wealth. A portion of every housing payment made by a homeowner is applied toward paying down the home loan balance (principal payment), which increases the equity in the home and helps to build a homeowner’s net worth.

But the advantage of homeownership is not just the property you own (or are mortgaging, for many people) but the financial mindset that helped you arrive there.

In other words, you have to be financially responsible to own a home: you have to save for a down payment, qualify for a mortgage and budget for homeownership costs like taxes and insurance.

An important point to keep in mind is that potential upside on the home will show in future price and disproportionately be applied directly to the home owner. For example, if you bought a $1M home, and put down 250K has a down payment. Fast forward 10 years that apartment can be sold at 1.4M. Now, add all of your principal payments over the years + the difference between purchasing price and selling price and while the overall price seemed to increase by 40%, in reality, you have made close to 200% on your money. (give or take. Not exact.)

The Board interview was approved!
We are one step closer to the closing day.

Step 10 - CLOSING DAY
You've made it! The day finally came and you're going to be a proud homeowner.
Typically a day or two prior to closing you will have the final walkthrough with your broker.

Who you should expect to be around the table on the day of the closing?
It’s going to be you, your lawyer, the seller, the seller’s lawyer, the bank if financing is involved, and also the co-op closing agent.

Review all the closing documents along with your lawyer, and make sure that all the t's are crossed and all the i’s are dotted.
Pay attention to the closing fee document. Closing costs can get very pricey in Manhattan. So get a breakdown from your lawyer ahead of time.
Exchange money for keys and you're good to go.

Celebrating the new chapter in your life while enjoying your new home!

INTEREST RATE

Everyone is talking about the interest rate of today. As of Friday, July 15, 2022, current rates in New York are 5.51% for a 30-year fixed, 4.67% for a 15-year fixed, and 4.36% for a 5/1 adjustable-rate mortgage (ARM).

Are you wondering what is going to be the interest rate in the next years?
The Mortgage Bankers Association June forecast predicts 5 percent at the end of 2022 and then dropping gradually to 4.4 percent by 2024.

How do I get the best mortgage rate?
To get the best mortgage interest rate for your situation, it’s best to shop around with multiple lenders.

Classic 7 on the Upper Westside!

Located half a block from Riverside Park. This 3-bedroom, 3-bathroom + office apartment is on the 11th floor which provides a great view of the Hudson River.

The Board Package!

We are going to review the most important points in a Board package.
It could be stresfull but remember that you are a step closer to get the home of your dreams!

INVEST IN MANHATTAN REAL ESTATE IS A GOOD IDEA?

Sales volume is very high and sellers have the advantage because there is a lot more demand than supply.

Good news is that prices are still lower than pre-pandemic.

There are still good buys and negotiability. It’s just getting less. In a year or two from now, prices could be even higher because property prices are expected to go up with inflation.

PRICE REDUCED $1,820,000
📍 675 West End Avenue
4 br l 3ba l

TRUE with 3 full bathrooms!

Cheapest one on the market!

OPEN VIEW FROM ALL WINDOWS

Call me today to schedule a viewing!

This 4th of July, let’s celebrate all that makes this country great while commiting to work together toward a better future.

Happy 4th of July!
From

🇺🇸

OFFER ACCEPTED!

GREAT INVESTMENT ON THE UPPER WEST SIDE
📍 West 80th Street and Broadway
3 br l 2 ba l UWS
Building with elevator.

Step 9 - BOARD INTERVIEW

The board interview is partially done to clarify info in the package but also because people are people and they want to feel good about their choice after meeting with you and seeing what an awesome human being you are!

Review from happy client!

I represented the buyer and also the seller in this recent sale.
Thank you for trusting me with this transaction. Enjoy your new home!