2022 Technology That Can Change the Real Estate Industry

The real estate industry is one of the most important globally, housing more than half of the overall global assets. So many people have embraced buying homes in the past few years. The home purchasing power has increased immensely between 2020 and 2021 by 21%. The industry's value has been estimated to be at $217 trillion worldwide, and it accounts for 7% of global GDP. This means that there is no way for this industry to be left behind in today's rapid technological advancements. The following are some of the technologies that, when used together or individually, can change the way we sell and buy property forever:

Blockchain (Distributed Ledger Technology) and Cryptocurrencies

In real estate, blockchain allows buyers to purchase property via cryptocurrencies. For example, Australia has recently seen its first Bitcoin real estate transaction, with a 1,400-square meter plot of land in Melbourne being sold for BTC equivalent to $250,000.

Blockchain has been recognized as one of the most promising technologies today, and it's also planned to be used by various other governments around the world. Some countries have even gone so far as to start developing their proprietary blockchain applications for real estates, such as the case of Sweden.

Artificial Intelligence (AI) and Machine Learning

AI is a branch of computer science concerned with developing intelligent machines. Machine learning uses statistical techniques to allow computers to 'learn' from data without being explicitly programmed. In short, AI is about making computers behave like humans, while machine learning will enable them to learn independently. Most real estate companies are already starting to use AI to find patterns in data and analyze potential customer behavior. Lenders who work in real estate are even able to make use of tools like lead management software for mortgage brokers to automate parts of this process to make sure that potential customers still get great service, while freeing them up to concentrate on the tasks that really do need the human touch.

Real Estate Crowdfunding

Crowdfunding, the practice of funding projects or ventures by raising money from many people who each contribute a relatively small amount of money, is also a growing trend in the real estate market. Several websites have been helping creators raise funds for their projects by allowing users to donate on a monthly or project basis - but now some crowdfunding sites are trying to implement this formula in real estate.

Real estate crowdfunding is a new concept, but it still shows many potentials. This could be especially beneficial for investors looking to diversify their portfolio with properties in big cities, and since they'll own part of the equity, they can also expect regular income from rental payments.

P2P Filesharing

The practice of peer-to-peer (P2P) file-sharing initially became popular in 1999 with Napster's invention. It is an interesting technology that can benefit many industries. However, real estate is one of the biggest industries that can benefit from peer-to-peer file sharing. Here's how peer-to-peer file sharing could benefit this industry;

Reduced costs for companies and consumers. Many people believe that buying a home is far too expensive and out of reach for most individuals. However, this is not true in many cases. Many real estate companies and individual homeowners could benefit greatly from implementing a peer-to-peer video conferencing system.

This is because both parties would be able to save thousands of dollars on hosting costs and time spent traveling to host a video conference. This cost reduction could help more people become homeowners, lowering the number of homeless individuals.

Landscaping Technology

There is a growing trend in which many new developments are going green in real estate. In fact, 'green' may be becoming the new standard for developers when planning out their projects. One technology helping this transformation is called Landscaping Technology (LT). LT is being used so heavily because it increases the value of a property, reduces energy use, increases workers' productivity, and more.

Landscaping Technology is the concept of using technology to automate landscaping tasks, such as incorporating natural flagstones in homeowners' backyards. Natural flagstone is a sedimentary rock that has been disintegrated into layers and utilized for landscaping.

Technologies used can vary, including drones for mowing, GPS systems to guide vehicles along pre-mapped routes following specific procedures, automated irrigation systems, etc.

The technology discussed in this article is changing how real estate companies operate and how people can buy homes. Many of these technologies have reached a point that could be described as being market-ready, while others are still in their early days or are brand new ideas that may or may not work out.

Melissa Ziweslin Brings Corcoran Sunshine to the Sunshine State

Melissa Ziweslin

Corcoran Sunshine Marketing Group has announced the expansion of Senior Managing Director Melissa Ziweslin’s role to include leading the marketing and sales strategies for new development projects throughout Florida, adding to her existing scope of work in New York City and expanding the firm’s presence in this key luxury market. Corcoran Sunshine Marketing Group has most recently represented the Four Seasons Private Residences at The Surf Club in Surfside, FL among other premier South Florida new developments. 

Ziweslin has worked with some of the finest development teams and partners including Silverstein Properties, GID Development Group, Extell Development Group, The Carlyle Group and ADIA. With 15 years of experience focused on luxury new development in New York City, including two of the city’s most successful projects – Four Seasons Private Residences at 30 Park Place and Waterline Square– Ziweslin has overseen more than $5 billion in property sales.

“Since joining Corcoran Sunshine, Melissa has been a valued member of our team,” said Pamela Liebman, President & CEO of The Corcoran Group. “Her deep experience with many of the industry’s preeminent development partners and her successful track record in New York City will be a great asset when growing Corcoran Sunshine’s presence in an important luxury market like South Florida.”

“With Melissa’s extensive ultra-luxury experience in branded condominium sales and her forward-thinking strategies in master plan work, it was an easy decision for her to lead our expanding presence in South Florida,” says Kelly Kennedy Mack, President of Corcoran Sunshine Marketing Group.

“As the most respected and recognized industry leader in new development, it’s an honor to lead Corcoran Sunshine’s portfolio in Florida,” says Melissa. “My goal is to continue to build on nearly two decades of trust that Corcoran Sunshine has established with renowned architects, developers and designers to positively influence the high demands of the booming South Florida luxury market.”

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Homes You Have To See This Weekend

Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you have to see to believe. 

Have a listing you think should be featured? Submit your open house or contact us to tell us more!

72 Mercer Street, PHE

courtesy of Douglas Ellima

Located on one of the most desired cobble stone streets in SoHo, this four-bedroom, prime triplex penthouse with a two-story private roof deck features attention to detail and exquisite workmanship that will take your breath away. Through the private elevator landing, you will find a grand living room with over 19' double height ceilings, oversized windows, a library and gas burning fireplace. On the lower level, there is an outdoor terrace with a powder room, fire pit and a counter bar, and on the upper level terrace, you will find a jacuzzi, both perfect for entertaining or relaxing with a view.

The penthouse is listed for $11,450,000 by Alexa Polachi and Aysegul Demir of Douglas Elliman.

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Photo credit: Evan Joseph

200 Central Park South, Unit 32BC

The residence features gorgeous views of Central Park and has been formerly owned by American singer, actress, and model Raquel Welch in the 70s-80s.

Sweeping direct Central Park views from the 32nd floor, brilliant light, prime location, and a one-of-a-kind layout makes this expansive high-floor three bedroom, three and a half bathroom residence an extraordinary offering. Located at 200 Central Park South at the corner of Seventh Avenue, 32BC spans nearly 2700 square feet, and is ripe for the vision of its new owners. This sprawling, unique home offers triple exposures, massive entertaining spaces, three generously proportioned bedroom rooms with ensuite bathrooms, and some of Manhattan’s most compelling views from every window (with almost every room facing Central Park!).

The listed is $5,495,000 by Henry Hershkowitz, Heather McDonough Domi, Cartwright Lee, H+H Real Estate Team at Compass

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251 East 51st Street, 17GE

Conveniently located in the heart of midtown in the Beekman Place area, this spacious, sunny three-bedroom apartment is a flawless combination of a giant two-bedroom apartment plus a spacious studio. There are wide-open city views from oversized windows in each room. Enter a large entry foyer open to an enormous living/dining room, galley kitchen, two bedrooms with baths and a HUGE primary suite (the studio apt) complete with a large closet space, dressing room and bath, plus home office.

The ceilings are 9' 7" tall. There is through-wall AC, and the building offers a roof deck, garden and fitness room (fee). Parking in the building is discounted for tenant shareholders ($425/mo. for tenant shareholders). This estate apartment is an excellent buy with over 1,800 square feet. There is 75% financing allowed, guarantors and pets allowed with board approval, and a one- and one-half percent flip tax.

Asking $1,925,000. Represented by Barbara Fox, Fox Residential.

Corcoran grows in Florida!

Corcoran Group, LLC today announced its continued expansion in Florida by welcoming its newest affiliate in Sarasota and St. Petersburg, Corcoran Dwellings, led by Liane Jamason and Marc Rasmussen. The announcement, made by Pamela Liebman, President and CEO of The Corcoran Group, is the firm's first affiliate launch of the new year.

From the broad beaches of its barrier islands to the vibrant cultural landscape of its downtown core, Sarasota offers an unparalleled array of opportunities for residents and visitors alike. Just recently, U.S. News and World Report named Sarasota as the best place to retire in 2022. Comparably, St. Petersburg is the 5th largest city in Florida known for its youthful atmosphere, historic homes, and a strong focus on community. 'St. Pete', as it's called among locals, has also been nicknamed the Sunshine City – thanks in part to a Guinness World Record it holds for the longest stretch of sunshine in the country. For all of this and more, both areas are an ideal fit for Corcoran's ever-expanding Florida presence, one of the firm's two home states through brokerage-owned operations.

"I couldn't be happier to kick off this year by welcoming another fantastic firm to grow our presence in Florida – a place near and dear to so many of us at Corcoran," said Liebman. "Sarasota and St. Pete have so much to offer, and now we get to offer our inimitable brand and expertise to clients in the region. Liane and Marc have built something really special together, and I'm pleased that they're continuing that work as Corcoran Dwellings."

Established in 2011, the firm formerly known as Dwell Real Estate was founded in Sarasota by Marc Rasmussen, a veteran Realtor® who had a goal of building a boutique experience for buyers and sellers alike. After successfully recruiting numerous top-of-the-line agents, the firm later opened its second office in late 2016, in St. Petersburg. Three years later, Marc then joined forces with Liane Jamason, who to date has had more than $147 million in lifetime sales. Together, they've crafted an environment based around the utmost agent support and professionalism – one that has resulted in them setting several sales price records in the region. And just last March, Liane closed on the sale of former Tampa Bay Rays pitcher Blake Snell's home.

"We prioritize each client by making them feel like they're our only client with a focus on superior market knowledge, thorough client communication and ethical client advocacy," said Marc Rasmussen, founder and co-owner of Corcoran Dwellings. "We also always want to give our affiliated agents the best resources to take their business to the next level and we prioritize working with like-minded individuals. With a focus on lead generation and technology, our goals align perfectly with the Corcoran brand, and we look forward to being part of the broader Corcoran family."

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Our Favorite Listings For The Week: A Duplex Penthouse at 388 Bridge Street Comes to Market with Superior Brooklyn Views

Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this week. 

Have a listing you think should be featured? Submit your open house or contact us to tell us more! And be sure to view our new Listings Calendar.

Launching today this listing is a stunning two-bedroom, three-bathroom duplex penthouse with a private terrace in one of Downtown Brooklyn's tallest residential towers: Located at 338 Bridge Street PH 51C, the Penthouse is an architecture enthusiast's dream as it's a front-row seat to watch Brooklyn's newest towers rise into the sky like Brooklyn Tower and 11 Hoyt.

Photo’s courtesy of Travis Mark.

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This sophisticated 1,602-square-foot Penthouse 51C, asking $2.495M, features walls of windows that frame jaw-dropping low-rise views to the south and Downtown Brooklyn views to east. Meanwhile, a 200-square-foot private terrace has sweeping views of Brooklyn, the New York Harbor and the Atlantic Ocean beyond for a special al fresco dining and lounging experience with a true wow-factor.

On the entertaining level, an expansive living room has a wall of sleek built-ins, including an artfully concealed Murphy bed. The adjacent formal dining room contains a striking crystal chandelier. A magnificent open kitchen contains walnut and white lacquer cabinetry, quartz countertops and a long waterfall island/breakfast bar. State-of-the-art stainless steel appliances include a Liebherr refrigerator, a Bosch dishwasher, and a vented Wolf five-burner gas cooktop, oven and microwave by Wolf. A well-appointed full bathroom completes the lower level.

Above, the primary suite offers southern and eastern vistas and has two spacious custom closets, an en suite spa bathroom with white quartz and limestone tile, a floating vanity, a thermostatic shower system and contemporary fixtures. A secondary bedroom on this level includes a roomy closet, adjacent full bath, built-ins and a second Murphy bed, making it equally suited for guests or home office use. There is an in-unit Bosch washer-dryer and central HVAC. A potential reconfiguration of the layout (as shown in the alternate floorplan) could provide a third bedroom without sacrificing separate dining and living room areas. 

388 Bridge Street is a beloved full-service condominium where residents enjoy a beautiful, 24-hour attended lobby, fitness center, lounge/party room, media room, dog wash station, bike room, a rooftop sky lounge terrace and a fifth-floor terrace with barbecues and a children's play area. Storage comes with the home and garage parking is available for rent.

This Downtown Brooklyn location is central to all of Brooklyn’s best amenities. City Point has a Trader Joe's, Target, Alamo Drafthouse and the Dekalb Market Food Hall. There is Whole Foods, Atlantic Terminal Mall, BAM and Barclays Center a stone's throw away. Nearby Fort Greene Park offers a year-round greenmarket and lush surroundings. The A/C, B/F, Q/R, 2/3, 4/5 and G trains, bus service and CitiBike stations are all within minutes of 388 Bridge Street.

The listing is on the market with Lindsay Barton Barrett of Douglas Elliman.

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Take A Look At Some of New York’s Coziest Fireplaces

Alexandra Reconco

It is about to be cold again and we all know that during the cold months all we wanna do is cozy up and be near a warm fireplace to comfort us. The fireplace can be seen as essential for a welcoming and comfortable aura in any home or luxury condominium.  In fact, when it comes to luxury condo buildings developers are now going above and beyond to create distinctive residential lounges surrounding a fireplace that leave a lasting impression and makes residents and their guests feel right at home. Come take a look at some of New York’s coziest fireplacesa in New York City right now.

The Symon by Studio DB

Volley Studio

The Symon is the all-new 13-story boutique luxury condominium building, is located between Court Street and Boerum Place at 76 Schermerhorn Street. Designed inside and out by Studio DB – the New York-based design firm, who are known for their custom homes and high-end interiors work for a roster of celebrities and other successful luxury residential projects in New York. The Symon features a complete suite of sophisticated retreats for work and play including a hotel-like private lounge, which boasts an inviting fireplace set within an urbane amalgam of contemporary and vintage decor. A focal point in the room, warm woods and natural stone detailing surrounds the fireplace, seamlessly blending classic and modern design. A curated library, tv and comfortable seating area are also present, making it the perfect spot for relaxation or to warm up in as the seasons change.

Quay Tower

At Quay Tower, the record-breaking condominium at Brooklyn Bridge Park, residents can curl up by the stunning marble-clad, indoor-outdoor fireplace in the rooftop Sunset Lounge. One of two rooftop amenity spaces in the building, the Sunset Lounge features gorgeous panoramic views of the Lower Manhattan skyline and New York Harbor. Perfect for cool autumn evenings, the cozy fireplace can be enjoyed both in the expansive indoor lounge or outdoors on the terrace. It's the perfect place to relax and take in the view.

NoHo's 40 Bleecker by Ryan Korban

Credit: Bjorn Wallender

NoHo’s 40 Bleecker is the first-ever residential building from designer-to-the-stars Ryan Korban, who has imbued the interiors with his trademark over-the-top touches and mixing of styles. Welcoming residents and guests into the building, Korban custom-designed the lobby space for a tranquil escape from the city. Punctuated by two marble couches and separated by a coffee table of rough-hewn French limestone and, black marble and terrazzo book-matched floors that perfectly complement the black marble fireplace, which truly makes it the centerpiece of the whole room.

Rose Hill

Courtesy of Rockefeller Group

Developed by the original builders of Rockefeller Center and designed with Art Deco flair, Rose Hill is the new 45-story luxury condominium tower currently under construction at 30 East 29th Street in NoMad. Designed inside and out by CetraRuddy, the acclaimed global architecture firm known for successfully blending modern design with crafted details. Rose Hill will boast 123 lavish residences accompanied by a vast collection of amenities on the lobby level and 37th floor sky lounge. Welcoming residents home to New York’s next crown jewel and nestled within the lobby lounge, Rose Hill boasts a custom library situated next to an 8-foot marble fireplace and grand spiral staircase underneath a grand custom chandelier.

 Brooklyn Point

Williams New York

Located in the heart of Downtown Brooklyn, Brooklyn Point is currently the borough’s tallest tower at 720 feet and will offer luxury homes with amazing views as well as over 40,000 square feet of amenities. The high-caliber amenities will include the triple-height Park Lounge that is perfectly designed for entertaining. The Park Lounge will feature a bar, lounge, co-working areas and a signature fireplace, an ideal spot for relaxation during the fall season. The Park Lounge will also feature 35’ ceiling heights with wraparound glass walls opening onto a beautifully landscaped terrace.

Greenwich West

Familiar Control

Greenwich West, with 170 loft-style condominium residences, is one of the tallest new buildings in Manhattan's Hudson Square neighborhood, offering unprecedented views of the Hudson River, New York Harbor and the Statue of Liberty. Located at 110 Charlton Street, Greenwich West’s interiors have been beautifully designed by star Parisian architect and interior designer Sebastien Segers, who is known for his work with clients such as Giorgio Armani, Christian Dior and his 20+ year collaboration with legendary designer Marc Newson. Detailed design elements and select finishes inspired by the past that also make a strong modern statement, create warmth and elegance in every space. Amongst the full array of amenities at Greenwich West is a private resident lounge and entertainment suite complete with a formal dining table and living space surrounding  a cozy fireplace.

Waterline Square

Noe & Associates with The Boundary

Developed by GID Development Group, Waterline Square has been designed by Rafael Viñoly Architects, Richard Meier & Partners Architects and Kohn Pedersen Fox Associates to create an iconic collection of luxury residential buildings on Manhattan's Upper West Side. Offering a variety of residential lifestyles, the development encompasses three residential towers, a 100,000-square-foot amenity center and a 2.6-acre park along the Hudson River. Waterline Square provides residents with access to a luxurious suite of private entertaining and leisure amenities in each of its three residential buildings. Each of the three buildings includes an expansive great room with a gas-burning fireplace, the perfect place to keep cozy on cool fall nights.

30 Park Place Four Seasons Private Residences

Evan Joseph

Welcoming residents home within the 926-foot tower at 30 Park Place Four Seasons Private Residences New York Downtown, which stands as the tallest condominium to grace the Downtown skyline, is a beautifully-designed and inviting lobby space perfect for warming up after a day spent out in the elements. Designed inside and out by celebrated architect Robert A.M. Stern, the lobby’s focal point is punctuated with a custom fireplace, surrounded by labrinth-patterned absolute black and white thassos marble flooring. A bench is present alongside the fireplace, allowing for a calm respite from TriBeCa’s bustling streetscape.

200 East 59th Street

DBOX

Designed to celebrate inside/out living, 200 East 59th Street — the latest residential tower from the legendary developer behind 432 Park Avenue, Harry Macklowe — is soon to open its double-height private dining room and lounge featuring a stunning marble fireplace. The space offers residents a cozy ambiance to relax, get some work done, meet neighbors or entertain, as it also opens onto an expansive furnished and landscaped terrace.

More to read:

• Ryan Serhant Launches South of Hudson Yards (SoHY)

• The Top 5 Realtor-Themed Reality Shows to Watch

• Ryan Serhant's Sales Course Becomes The #1 Selling Real Estate Course of All Time

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

SERHANT. Takes Over Sales at 251 West 91st Street - The Westly

SERHANT., the multidimensional real estate brokerage founded by Ryan Serhant of Bravo’s Million Dollar Listing New York, today announced that it has snagged its latest Manhattan takeover of a new development condominium. The 20-story building located at 251 West 91st Street on Manhattan’s Upper West Side is relaunching with SERHANT. as “The Westly.” The project was announced live via Ryan Serhant’s Instagram and offered a behind the scenes look at the filming of a new video inside The Westly’s model residence. 

Jennifer Alese, who leads SERHANT. New Development, the firm’s dedicated division for the sales and marketing of new development projects, said the building’s rebranding alludes to the neighborhood in which it stands—The Upper West Side.   

“The Westly is more than a name—it’s a lifestyle; a manner of being,” said Alese. “The Westly stands out because we are giving residents a unique identity that they can relate to or aspire to become; a place they can truly call home.” 

To develop the brand identity of The Westly, SERHANT. New Development turned to ID Lab, the company’s in-house branding and design team. ID Lab took inspiration from the building’s timeless, light and airy residences to design all visual aspects of The Westly, including a new website and marketing collateral.  The video of The Westly’s model residence was created by the firm’s in-house film and production studio, aptly named SERHANT. Studios. 

Located in one of Manhattan’s most iconic neighborhoods, The Westly is situated between Central and Riverside Parks. The building is in close proximity to notable private schools including Dwight, Trinity, and Columbia Prep private schools and near higher education institutions Columbia and Fordham University. The neighborhood provides convenient access to transportation, plus a wealth of extracurricular activities for families, including entertainment and cultural venues and restaurants.

The project, developed by Adam America Real Estate and Northlink Capital, consists of two- to five-bedroom homes, with select homes offering private outdoor terraces. The residences range in size from approximately 1,252 to 3,524 square feet, with asking prices starting at approximately $2.625 million for a two-bedroom to $13.5 million for a five-bedroom home.

The Westly marks SERHANT. New Development’s fifteenth project. Currently, SERHANT. New Development also manages sales for Brooklyn Point, Quay Tower, and Jolie on Greenwich, among others, representing a total of $6 billion in new development inventory. 

The Westly is anticipated to be completed by spring of 2022. 

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Our Favorite Listings For The Week: A Rare, Renovated, and Posh Greenwich Village Home Can Be Yours For $3.45M

Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this week. 

Have a listing you think should be featured? Submit your open house or contact us to tell us more! And be sure to view our new Listings Calendar

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This is a rare chance to own a newly renovated, high-floor Bing & Bing home in the Greenwich Village — with protected views of Downtown Manhattan!

Located at 59 West 12th Street, Unit 10E, this property represents a rare opportunity to own in a desirable neighborhood: the “gold coast” in Greenwich. In the apartment, owners are greeted by a generous foyer with a large walk-in closet, leading to a dining gallery situated between the kitchen and living room. The living room has a wood-burning fireplace, high-quality built-ins, beamed ceilings, and huge windows with views of the Lower Manhattan skyline. The kitchen is outfitted with custom cabinets and name-brand appliances, along with black Caesarstone counters.

The unit has two bedrooms and two bathrooms — the primary bedroom offers enough room for a home office and two walls of custom closets. Plus, there’s a windowed, en-suite bathroom with a standing rain shower. The second bedroom, at the opposite end of the unit, comes with a custom-built Murphy bed, along with an abundance of storage space. Both bedrooms have new carpeting, and the unit features new wood flooring throughout.

The building is in the heart of Greenwich Village’s Historic District, and was designed by Emery Roth and built by Bing & Bing — two renowned names in New York real estate. It’s a full-service condo building, with 24-hour door staff, laundry facilities, and a playroom. It’s also in an ideal location, near some of the best shopping and dining options in the city.

This unit is listed for $3,450,000 by Michael J. Franco of Compass.

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How to Prepare Your First Home Office for Success

Working from home has increased over the last few years. Many people are increasingly setting up home offices and acquiring furniture to work at home. The office furniture market in the U.S. is expected to reach a staggering value of $14.3 billion by 2025. There are a few tips that you can use when setting up your first home office to start your work on a high note. Read on to learn how to prepare your first home office for success.

Select a Location

Selecting a suitable location is vital for preparing your first home office for success. It can be an actual office or an empty room in your home. If you are buying property to set up a home office, buy one with many rooms. In 2020, 33% of home buyers were first-time buyers. Nevertheless, not every person has enough free space at home. If this is the case, you have to be creative in selecting the right location. It would help if you took a lot of time and consideration locating your home office location because you will be spending a lot of time there. The location should be quiet, free of distractions, and adequately ventilated.

Purchase Furniture

Never underestimate the importance of comfortable furniture when preparing your first home office for success. Ergonomic furniture is on sale at affordable prices. An ergonomic office setting with a good office chair and desk will increase comfort, prevent pain caused by straining and increase productivity. You can incorporate a standing desk in your home office to enable you to alternate between a sitting and standing position when working at home. You can also get a cushion for extra padding.

Create Storage Space

Be sure to create enough storage space for everything you need while working. If your home office is small, consider installing shelves on your walls or using tiered desk shelves. Acquire furniture with in-built storage spaces. It would be best to purchase all-on-one office appliances to save space. You can also use whiteboards for brainstorming and recording notes to cut down the use of papers. Having enough storage space in your home office will increase organization, comfort, and efficiency.

Declutter

Cluttered spaces have negative effects on productivity. Therefore, you need to declutter your home by getting rid of items you don't need. You can store the unwanted items in another room or advertise them for sale. Divide your items into groups for easy access when you need them. Use cabinets, pen holders, and files to organize your things. An attractive and organized home office without clutter will significantly boost your mood and productivity.

Create Purpose

Research shows that using your home office for non-work activities can hamper productivity in the long run. You should dedicate your home office to work alone; otherwise, your home business can fail, and getting a new job is time-consuming. Job seekers spend about 11 hours every week searching for a suitable job. To promote success, ensure your home office is dedicated to working alone. Family members, pets, and other distraction sources like television that can affect focus and productivity should be kept out of the office. Dividing your professional space from your personal space will enable you to stay professional at all times.

Decorate

You don't want a plain office that only has a desk, chair, and some storage units. Decorate your home office to increase the ambiance. You can use various decoration materials to add a final touch to your home office, including family photos, customized lighting, paintings, and other home office decor. Having a beautifully decorated home office will help you relax and contribute to your physical and mental health while working in your home office all day.

Using these tips will help you set up your first home office for success. Contact a professional if you need help to prepare your first home office.

A Look At The Top 10 Sales In New York City In 2021

The real estate market in New York City has had a year to remember. After a very turbulent 2020, which included an all-out shutdown of the market for a stretch, the real estate sector roared back to life in 2021, and during some months, was operating at or near record levels. 

And with the year almost over, real estate analytics firm UrbanDigs dug through its data to create a rundown of the top ten residential sales closings in both Manhattan and Brooklyn year-to-date (between January 1 and December 9). 

220 Central Park South, Unit 60 — sold for $82.5M on May 20, 2021

220 Central Park South, Unit 61 — sold for $75M on May 20, 2021

220 Central Park South, Unit V-11 — sold for $66M on September 15, 2021

2 East 88 Street, Unit 14PH — sold for $60M on August 24, 2021

220 Central Park South, Unit 67 — sold for $59.5M on May 24, 2021

12 East 69 Street — sold for $59M on March 4, 2021

12 East 69 Street — sold for $59M on March 4, 2021

9 East 71 Street — sold for $51M on March 8, 2021

217 West 57 Street, Unit 53 — sold for $50.021M on September 17, 2021

443 Greenwich Street, Unit PHH — sold for $49.5M on November 19, 2021

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Homes You Have To See Before The New Year

Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you have to see to believe. 

Have a listing you think should be featured? Submit your open house or contact us to tell us more!

15 Sailors WayRed Bank, NJ

An exciting new listing hitting the market in the exclusive Red Bank NJ, for $11M. The home is truly amazing and is very close to Jon Bon Jovi's estate as well.

This waterfront chateau is custom-built with the finest materials and bespoke craftsmanship, and is unmatched by even the most respected homebuilders. From its unrivaled position on the banks of the picturesque Navesink River, this lushly landscaped 3.5 acre property boasts over 300 feet of private shoreline complete with a 150 ft Brazilian hardwood dock and boat lift.

Optimally situated at the end of a prestigious cul-de-sac, the winding stone drive from the gated entry leads to a grandiose, paver stone courtyard with four-car garage and porte cochere. Inside, nearly every room basks in southern exposure and riverfront views.

The 6,000+ square feet garden level, designed as a Parisian hideaway, includes a movie theater, gym, indoor spa, sauna, a pub-style bar and wine cellar.

The estate is listed with Kristin Ehrgott and Maria Kingston.

Credit: Stefano Ukma

137 West 25th Street Apartment #Studio/2

The commercially-zoned triplex studio owned by Grammy award-winning photographer and visual designer Phil Marco is coming to market in Chelsea for $3.5M. In addition to his photography, Phil created several iconic moments in motion pictures working with Martin Scorsese on films like in “The Color of Money,” “The Aviator,” and “Casino,” to name a few. Phil has won many awards for his work, including numerous Cannes Lions, Cleo's, and a Grammy Award for his print work on the legendary “Tommy the Who” Album. Phil’s work is represented in The Museum of Modern Art, The Museum of the Moving Image and The George Eastman Museum of Photography. He and his wife are retiring to the North Fork where Phil will continue his creative work.

Located in the historic New York Public Library stacks building at 137 West 25th Street with its own entrance and a two-door loading dock from the street, the Triplex Studio has 16 foot ceilings, a mezzanine overlooking the main space, and a full basement with workshop.  Here is a more complete description of the property:

Studio #2 hosts endless usage possibilities. Located in The New York Public Library Stacks Building, which was formerly used as the West 25th street branch and is now been converted to commercial condos. Located in the popular Flower District of Chelsea and just west of the Flatiron/Nomad. This triplex ground floor loft, has an upstairs office, full basement, private entrance from the street and also includes its own two door garage entrance for loading or access of oversized items. In history Studio #2 had its own curb cut, which a professional would need to research any interest in its history.

Studio #2 most recently has been used by legendary videography Phil Marco Studio and provides an amazing opportunity for a similar business that requires privacy, high ceilings, lots of sq footage and multiple spaces. The main studio space hosts 16ft concrete beamed ceilings, traditional loft wood flooring and has the ability to be opened up even more. The office upstairs over looks 25th street and has an oversized wall of plate glass windows which span 12'x5'. An upstairs landing area offers an assistants work space and a large conference/lounge area, which is paired with an interior balcony that overlooks the main studio space.

Listed by Mike Lubin and Justin Stolarczyk of Brown Harris Stevens.

Credit: Anastassios Mentis

32 West 20th Street, 11th Floor, Loft

Welcome to a true Flatiron pre-war loft which for four decades served as an art studio for Emily Mason, the renowned American Abstract Expressionist painter and printmaker. Mason is lauded for her bold and vibrant contributions to the Abstract Expressionist and color field painting traditions. The tremendous benefits of the space, for her artistic needs, were that it is well-lighted, spacious, and airy. As the building was originally designed for light manufacturing, the reuse of the space as an artist's studio was straightforward.

Featuring high ceilings, large windows and open spaces, this iconic Flatiron loft is a perfectly preserved artist's studio poised for reinterpretation.

A keyed elevator arrives to the loft's private vestibule, which opens to the expansive full floor apartment. 12-foot ceilings, an array of large arched windows, diffused skylights, historic columns and hard wood floors are some of the features which grace this welcoming and airy floor-through unit. The approximately 4,000 square feet of space allows for a multitude of layouts depending on your lifestyle. Natural light streams into this cornice level apartment from 23 exposures facing north, east, south, and sky.

32 West 20th Street is a Neo-Renaissance style building constructed in 1908 by architect and original owner Frederick C. Zobel. This pre-war co-op is located in the Ladies' Mile Historic District, in the heart of what is now commonly called, "The Flatiron District." The building was converted to Cooperative residential ownership in 1978 from commercial usage. The originally tenants were businesses oriented to provide and often create merchandise for "Ladies' Mile," once New York's most prestigious shopping district.

A First Look Inside The Leyton's Duplex Penthouse

The first look inside The Leyton’s $16,500,000 Duplex Penthouse, has just been revealed which includes interiors by the renowned Frampton Co.

Features of the home include a voluminous double-height Great Room with 20’ ceilings, which opens onto an entertaining terrace overlooking Central Park. A private elevator leads guests to an expansive roof deck complete with outdoor kitchen and unobstructed views of the Park, the River, and the glittering skyline.

The penthouse’s soaring double-height ceilings, open chef’s kitchen, and sprawling floorplan offered Frampton Co ample room to activate the interiors through art and design. Within the open living-dining space, Frampton Co utilized rounded seating and exploratory forms to create a smooth visual and physical flow between the two, while overhead, engaged the 20’ ceilings with sculptural light fixtures. Soaring views of Central Park and beyond can be enjoyed on two private terraces.

Other standout design elements include a bespoke floor-to-ceiling wall covering, a custom suite of paint colors made exclusively for The Leyton, a focus on four choice fabrics employed strategically throughout the design concept, and a substantial art program.

Frampton Co’s vision places an emphasis on volume and warmth across all the residential interiors, working across a diversity of spaces to produce several unique layouts. A complex, architecturally involved achievement that highlights grand double-height spaces and sweeping park and city views, while also providing a refined sense of comfort and containment to high-rise living through organic materials and custom millwork. The home features 3,656 square feet of interior space and 1,756 square feet of private exterior space.

Helmed by principal Elena Frampton, the studio created a sense of ‘livable modern’ complete with characteristic elements of surprise in the details and customizations. “A true sense of home is what rooted our design,” says Elena. “We focused on refinement, layering neutral color palettes and sculptural lighting that allows the proportions to shine, while using fine finishes as charismatic moments of discovery.”

Anchored in imagination, the Frampton Co team envisioned a cast of distinguished buyers and how they would inhabit the space. The wide-plank oak flooring, open concepts, and generous proportions provide a serene canvas for everyday life and backdrop for occupants’ personalization. In the baths, Frampton Co introduce subtle, livable pattern with geometric mosaic tile in the powder room, striped stone feature wall in the secondary bath, and herringbone patterned stone feature wall in the master bath. The kitchens feature extra thick marble countertops in a classic white, with sculptural lighting overhead.

The project is being developed by Dart Interests and Real Estate Inverlad. Brown Harris Stevens Development Marketing is exclusively managing sales and marketing for the building.

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What Real Estate Experts Predict About the Housing Market in 2022

In the latter half of 2021, the housing market exploded. The average American home cost $287,148, a 13.2% increase from May of 2020. Home sales rose to 6.8 million.

Experts agree that changes are coming on the cusp of the new year. But is the housing boom about to bust? Unlikely. If anything, the market may cool by a few degrees, but it's in no danger of crashing or experiencing other instability. Here are eight housing market trends experts anticipate for 2022.

1. Buyer Demand Will Persist

Buyers are still in the market for properties – experts believe this trend will continue throughout 2022. However, buyer demand isn't increasing at the same frantic rate across the entire country. The south and west coast lead the nation in high buyer demand.

Properties continue to sell in approximately 18 days, and most homes sell with an average of three offers. You can expect this trend of homes moving quickly to extend into 2022.

2. Housing Inventory Will Remain Low

According to the national inventory of active housing listings, 2021 witnessed a decline of 22.2% in total inventory. Compared to last year, the catalog of newly listed homes also decreased by 3.9%.

Experts anticipate 2022 will essentially look the same as the previous year. So home buyers will have to work harder to find the perfect home, while sellers should note this is another good year to put their property on the market.

3. Housing Prices May Fall

In 2022, it’s likely the growth of home prices will slow somewhat. Experts at Freddie Mac believe the prices will grow at a rate of 5.3%, which is lower than the 12.1% increase last year. Zillow takes a moderate stance of projecting an 11.7% rise in housing market prices. However, analysts at Goldman Sachs estimate home prices will expand by 16% in 2022.

4. Foreclosures Will Likely Stay the Same

Beginning in September 2021, the government lifted its temporary ban on foreclosures, and the country saw a rapid increase in evictions due to missed mortgage payments. Foreclosure filings increased by 24%, compared to before the foreclosure ban, and were up by 102% from September 2020.

Because of the end of the foreclosure ban, experts largely expected this jump in numbers. It's also important to note that our nation's foreclosure rates are still historically lower than average. Due to these factors, the rate of foreclosures will likely plateau and remain consistent in 2022.

5. Mortgage Rates Will Increase

Up to this point, homebuyers have enjoyed low mortgage rates. In 2022, experts expect rates to be above 3% for a 30-year mortgage. The National Association of Realtors estimates 3.5%, while Freddie Mac and Kiplinger predict 3.7% and 3.8%, respectively.

Interest rates will continue to rise because of several factors. Earlier this year, the Federal Reserve increased its inflation estimates, signaling inflation will be here to stay. If the Fed raises its interest rates, banks will follow suit, and borrowers' mortgage rates will increase.

6. The Housing Market Will Stay Steady

It's improbable the housing market will crash in 2022. Experts believe the current market is healthier than the 2008-2010 housing bubble. Various factors separate the current market from those of the past. Subprime mortgages, a major contributing factor to the 2008-2010 housing bubble, now have much stricter regulations than previously. 

Additionally, the supply of homes for sale is still low, so the overall price of homes is in no danger of dropping dramatically. As long as new homebuyers continue to enter the market and the supply of homes stays consistent, the market should remain healthy.

7. How Do These Trends Impact Homebuyers?

For interested homebuyers, expect much competition when finding your dream home in 2022. Homebuyers will also need to anticipate low property supply resulting in bidding wars.

However, there’s some good news: interest rates are historically low for 15-year, fixed-rate mortgages, at 2.15 to 2.39%. Locking into a fixed-rate mortgage with a lower-than-average interest rate is ideal for any property buyer because it means cheaper monthly payments and less money going towards interest throughout the loan.

Combine low-interest mortgage rates with decreasing home prices, and the new year could be the perfect time to buy a home. However, making a purchase that important all depends on how one manages one's finances. Having no debt, setting aside an emergency fund, preparing a 10-20% down payment, and saving for closing costs will ensure one can afford a home in 2022.

8. How Do These Trends Impact Home Sellers?

There's no doubt the real estate market of 2022 still favors the home seller. There will likely be more property buyers than sellers with low home inventory. However, with the recent end of the foreclosure ban, more properties could flood the local market. Working with an experienced agent to sell a property should help set a competitive house price, navigate offers, and manage any issues.

Anticipating the Real Estate Market in 2022

The housing market in 2022 will look similar to that of 2021 – expect buyer demand to remain strong, housing inventory to stay low, and foreclosure rates to likely stay the same. Be on the lookout for housing prices to fall and mortgage rates to slowly increase. Despite the changes, the housing market should remain steady.

Author

Evelyn Long is the editor-in-chief of Renovated. Her real estate work has been published by the National Association of REALTORS®, Rental Housing Journal, and other online publications.

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