A VIEW FROM NEW YORK CITY
Welcome
We believe the reasons for prices staying strong are multifold. First, the world's seen a surge of wealth creation in recent years, and the affluent still have more money to spend. Second, many luxury purchases are made in cash, so the high-end sector remains somewhat insulated from interest-rate fluctuations.
Finally, there's a lifestyle change resulting from Covid-19 that we believe is here to stay. People are spending more of their time at home and putting more of an emphasis on their home lives, even as the world has opened up. What that means is luxury homeowners can rationalize the expenses of owning multiple properties since they are spending more time in them, and are therefore less likely to put them up for sale.
As such, inventory continues to be low, coupled with an under-supply of new construction. Fannie Mae's November 2022 forecast predicted that home sales will decline but begin to rebound in 2024. Fannie Mae economists also believe mortgage rates will steadily fall, but likely not drop below 6% any time soon.
Despite this, luxury agents remain busy brokering deals for their clients, many of whom are looking to make opportunistic investments during a fluctuating market.
In the pages that follow, we'll also look beyond the real estate sector to see what consumers of luxury goods desire, from sustainable luxury items, to record-breaking auction sales, to wine investments. Now more than ever, we know that the affluent want to spend their equity wisely, and we're here to help them do just that.
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#3 TEAM NATIONWIDE FORSOTHEBY'SINTERNATIONAL REALTY JENNIFER HENSON LiclensedSalesperson
jennifer.henson@sothebys.realty
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+1 347.680.6854
SteinNewYork.com
THE STEIN TEAM
to the Sotheby's International Realty 2023 Luxury Outlook.
PENTHOUSE DUPLEX LOFT 147 West 15th Street,PH9S New York, NY 10011 $5,850,000 147West15PH.com
Testimonials
“Jennifer was everything we could have hoped for in a realtor. She was there for us every step of the way in a long and challengingjourneytobuyingourfirsthome. Jen made us feel confident and like we had an advocate in our corner throughout the process. She gave us candid guidance and was a true partner in finding our family’s home.”
- MONICA & MISSY
“We loved working with Jennifer while going through our first home buying experience, we couldn’t have chosen a better person! Jennifer was direct, thorough, and knowledgeable, always making herself available to answer our questions. She connected us with a wonderful attorney and home inspector and knowing that she was working in the background to ensure the process kept moving in the right direction was a huge relief.We would be very happy to recommend Jen and The Stein Team to anyonewhomightbelookingforarealestate broker!”
- ERIN & KEVIN147 WEST 15 th STREET, PH
“Jennifer handled the sale of my Brooklyn home. She took the anxiety and secondguessing out of the process and made sure that all the many details were taken care of expertly and on time, on both sides of the transaction. Thanks to her persistence and counsel, we were able to time the sale in a way that maximized value, moving forward with a buyer who offered the best combination of price and ability to close. Next time I am in the New York City real estate market, she and the Stein Team will be my first call.”
-RICH
“We cannot thank The Stein Team enough for all their hard work to get us over the finish line. We so appreciated your guidance and the time spent on our behalf — particularly as we worked through the marketing process and evaluated offers. You have some really happy clients here and we will sing your praises to anyone and everyone. We feel lucky to have had the opportunity to work with you”
-FRANKLIN & CATHERINE3
Select Sales 147 WEST 15 th STREET, 7N/8 Chelsea | Sold For $8,100,000
JENNIFER HENSON'S Select Sales
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2 7 GREAT JONES PLACE, APT. 3W NoHo | Closed for $4,250,000
140 THOMPSON STREET, APT. 5D SoHo | Closed for $2,850,000
1 JOHN STREET, APT. 9A
DUMBO | Closed for $4,740,000
475 BROADWAY, 3E SoHo | Closed for $3,550,000
Current Offerings PUCK PENTHOUSE: 293 LAFAYETTE STREET, PH IV SoHo | $35,000,000
THE STEIN TEAM
13 Select Current Offerings 10 SULLIVAN STREET, 7A SoHo | $9,500,000 40 EAST 19 th STREET, APT 5 Flatiron | Sale: $5,495,000; Rent: $25,000/mo. 44 LAIGHT STREET, 6C TriBeCa | $2,995,000 147 WEST 15 th STREET, PH Chelsea | $5,850,000
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THE STEIN TEAM
