The first quarter of 2022 is coming to an end and there was a lot of action to kick off this year. There was never a dull moment over the past few months…the time is flying by.
In the midst of all the hustle & bustle we have been experiencing some wild weather in NYC. The hottest temperature ever in March was recorded in Central Park at 74 degrees, but the majority of the month was freezing cold temperatures. I think I can speak for all New Yorkers when I say we are ready for the spring!
Real estate is really heating up, as The LivNY team had a very busy month of March. Our team put 7 properties into contract, representing both buyers and sellers. The spring is seasonally the best time to sell apartments, so typically a lot of homes are listed in the second quarter. The LivNY team is ready, and available to help you take advantage of the market!
As we progress through the year, a lot of focus is on the return to the office. There’s still a lot of empty office space around New York City. Esteemed real estate investment firm, Blackstone, gave up on a Midtown office space they bought in 2017. They must not like what they’re seeing. On the other hand, big tech continues to expand their office space. The fact is, Midtown is nothing like what it used to be. There’s even talks about converting old space into affordable housing. Stay tuned to see what happens next.
The spotlight this month is on rising interest rates. The Federal Reserve made its first interest rate increase since December 2018. What should we look out for as the era of low rates comes to an end?
