- Alan Lupiani
- Apr 28, 2021
- 1 min read
I am back in the office at Modern Spaces in LIC. I just met with one of my longtime landlords and exchanged checks for a recently rented apartment in Ridgewood, Queens. Felt good to get things going again.
I am both looking for a buyer/client and hopefully representing a seller of a CO-OP in the next few weeks. I am excited about this development because it will be taking my real estate game to a different level. It's called SALES! ;)
Co-ops can be tricky regarding regulations, fees, and board approval. I am looking forward to executing these anticipated deals with expertise and precision. Previewing the UWS Co-Op this Friday, 4.30.21. 400-450K range.
According to my research, co-ops in Central/ Upper Brooklyn (200+ listings) are coming down in price about 10% and there are now more listings finding there way to the market (less than 50 days.) In Upper Manhattan (300+ listings), pricing seems to be coming down less and this may be a result of heavy sales competition for homes in the northern suburbs of NYC, resulting in more demand for apartments back here in the city. My overall assessment pricing wise is that the market is pretty much neutral right now and will only get better as we head into the fall. Listing prices are generally 20-25% above 2019 levels, but with recent price drops, it will be interesting to see how things progress this summer.
If you own a co-op, condo, or building that you would like to sell, please feel free to contact me at anytime for a free consultation. My email address is alan@modernspacesnyc.com and my phone # is: 917.613.8135. TY!
- Alan Lupiani
- Mar 23, 2021
- 1 min read
Hi everyone. I took a hiatus the last few months after getting COVID and getting myself together. Last year was a bust for the most part as I was entering my forth year in Real Estate and just starting to get momentum when the pandemic hit. The bad is that I got behind on my overall goals, but the good is that it helped me to re-invent myself once again!
I have come to realize that if one wishes to be a successful real estate agent today without having a big lifelong network in NYC, already living in a condo building, or having started earlier in the business, the only alternative today is to build a community through the internet along with all the other analog style network techniques, like walking the neighborhoods, attending community events, cold calling, and looking for real estate owners attempting to sell on their own.
All said, you can find me here on this website 24/7, chat with me anytime RIGHT HERE! I will be working mostly in Greenpoint, LIC this year, but will travel for good opportunities! If you would like to sell or rent your property, commercial or residential, please reach out! I hope you all have a great year! Here's to looking ahead into a rosier future!
- Alan Lupiani
- Oct 30, 2020
- 2 min read
At the beginning of COVID, I thought there would be a big opportunity for doing deals in Commercial Real Estate. I quickly found out that many owners were dealing directly with customers and not working with agents. The old school, "take cover" mentality had kicked in "BIGLY!"
Coupled with the uncertainty of the market and having a current tenants breaking leases, owners have been hesitant to relinquish control to a broker.
Also, the nature of commercial deals seems to have consolidated and specialized. The movie industry has swooped in to snap up bargain basement big box warehouse lease deals. Alternatively, small kiosk storefronts seems to be the rage for such businesses as coffee brewers.
Alternatively, small retail business owners in larger storefront spaces are failing. Many of these businesses have under-utilized income producing square footage, and even with the city allowing for sidewalk table access, many restaurants have been strapped with staffing problems and short/long term financing issues.
What's the next move? Commercial Real Estate deals in Manhattan hit an all time low since 2009, only twenty one (21) deals were completed in Q3. So, it's kind of like investing in the stock market at this point. If you have money saved and want to start and/or expand a business, you have leverage to find a good deal right now. Keep in mind that owners/landlord's are wary of entering into long term leases. Also, all parties signing a lease MUST have it thoroughly reviewed by an attorney making sure to include clauses related to catastrophic events and insurance liabilities related to COVID. All good reasons to HIRE a competent and professional Real Estate Agent (like yours truly!) to help you (owner/landlord and/or customer looking for space) transact these deals.
Please feel free to contact me at anytime to discuss further! alan@modernspacesnyc.com