Novo News Oct Issue

FEATURED LISTINGS ON THE MARKET

NOVO

OCTOBER 2023 OCTOBER 2023

FALL MARKET UPDATE: NAVIGATING REAL ESTATE IN CHANGING TIMES

Dear Friends & Clients,

As we enter fall, we're committed to keeping you informed about real estate developments. In August, the national average 30-year fixed mortgage rate peaked at 7.23% (currently 7.19% in Sept), making the market highly competitive.

Despite rising rates and home prices, the real estate market remains resilient with strong demand surpassing limited inventory. As colder months approach, we expect competition to ease as fewer renters move, and increased rental inventory helps renters.

The luxury market, properties over $10 million, remains strong with limited options, leading to exploration of off-market deals.

Overall, the market is fairly neutral, and we anticipate a 2530% increase in fall inventory, benefiting patient buyers after the slower summer months.

In conclusion, the fall market presents a changing landscape and new opportunities.

ON THE MARKET ON THE MARKET

1 JOHN STREET, 9D

One John Street, a breathtaking residence that redefines luxury. nestledintheheartofDUMBO, this architectural masterpiece offers an unmatched array of features, sprawling spaces, and top-tier finishes. This expansive three bedroom,three-and-a-halfbath,has agenerous2,400squarefeetofliving space Moreover, the layout seamlessly allows for effortless conversion into a four-bed. As you enter,bepreparedtobedazzledby soaring11-footceilingsandfloor-toceiling windows with panoramic viewsoftheshimmeringwaterfront andthemesmerizingcityskyline

OTHER PROPERTIES AVAILABLE

100 Jay Street, 9H 100 Jay Street, 31A 590 West end ave, phb

InvestmentPropertyonly

This home features a custom kitchen with solid oak cabinets, acid-etched backsplash, GE stainless appliances, absolute blackgranitecounter

Combination three-bedroom, 35-bath, and offers floor-toceiling windows and dramatic views of the Statue of Liberty, Brooklyn Bridge, Manhattan Bridge, Williamsburg Bridge, and theManhattanskyline

This impeccable One-Bedroom Penthouse with Dual Terraces spans 990 interior square feet and boasts two enclosed terracestotaling306squarefeet.

. The building offers full-service amenities, including a doorman andlive-insuperintendent.

FEATURED LISTINGS FEATURED LISTINGS

6 WEST POND DRIVE

BRDIGEHAMPTON | KHALILY STABLES

Khalily Stables, is a large-scale equestrian compound located in the sought after Bridgehampton Farm Corridor., was completed in 2015 and is equipped with state-of-the-art facilities.

239 EAST 61ST STREET

UPPER EAST SIDE

Welcome to 239 East 61st Street, an enchanting, well-preserved townhouse, nestled in the heart of Upper East Side. An exquisite fusion of traditional architecture and modern elegance, this home is best described as an updated classic that tastefully marries original craftsmanship with the convenience of modern luxuries. Occupying over 5,100 square feet, this magnificent home is 20′ × 63′ on a 100’ lot. The townhouse boasts six bedrooms and six and a half bathrooms, spread across five stories. Plus, an extra bathroom in the cellar.

7.5 baths

6 Beds 5 STORIES

The property includes a 32’ by 20’ verdant rear garden, plus a terrace that is 19′ × 12′ Previously owned by the renowned Allen Dulles and later, the esteemed Seagram Foundation, this magnificent residence was the site of large-scale gatherings and hosted many dignitaries and VIP’s This home exemplifies the grandeur of a bygone era.

LOCAL LOCAL HAPPENINGS HAPPENINGS

October 31, 2023 7pm-11pm

VILLAGE HALLOWEEN PARADE

The Halloween Parade runs up Sixth Ave from King St to 15th St in Manhattan. This year's theme is Upside Down Inside Out. The theme was inspired after the last few years of feeling like the world's been turned upside down and we all went inside, not outside.

OKTOBERFEST OKTOBERFEST

Oktoberfest, the annual autumnal celebration anchored in Munich, Germany, with satellite festivities all over the globe, kicks off in September Lucky for you, New York City hosts some of the best boozy, musical sausage fests in the world.

THE HAMPTONS THE HAMPTONS

Autumn in the Hamptons is a favored season for both residents and visitors alike, offering a splendid opportunity to partake in a variety of indoor and outdoor activites. These include wine tastings, handpicking crisp apples and vibrant pumpkins, and embarking on captivating journeys through the area's picturesque landscapes.

HAMPTONSINTERNATIONAL FILMFESTIVAL

Don’t miss open night October 5th premiering #NYAD, based on the remarkable true story of American marathon swimmer Diana Nyad!

October 5th - October 12th

MIAMI MIAMI

while South Florida may not undergo the traditional changing of seasons, a sure sign of transition lies in the multitude of new restaurants gracing the area. From enticing open-air locales to the introduction of a renowned French staple, Miami is unquestionably poised for another thrilling "season" of culinary delights. Whether your palate yearns for the flavors of Italy or the intimacy of an omakase adventure, here are the upcoming dining establishments to anticipate this autumn.

CASADONNA

Where: 1737 N Bayshore

Drive, Edgewater

When: October 2023

Brought to life through a partnership between Groot Hospitality and Tao Group Hospitality. Coastal Italianinspired cuisine with a menu of dishes from areas like Naples, Taormina, Bari, Positano, and Gaeta