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Giampaolo Ienna
Your Exclusive Access to New York’s Luxury Residential Real Estate
EXPERT INSIGHTS, STRATEGIC INSIGHTS
Giampaolo Ienna brings over a decade of hands-on experience and deep industry insight to New York City's real estate market, specializing in off-market properties and providing tailored guidance for clients at every stage.
ABOUT GIAMPAOLO
Giampaolo Ienna, ignited by a passion for real estate in 2014, brings over a decade of hands-on experience to New York City's dynamic market. A seasoned property owner and investor, Giampaolo navigates the complexities of real estate with precision and a deep understanding of industry nuances.
As the founder of The Ienna Team at Elegran Forbes Global Properties, he specializes in off-market properties and has made a significant impact across Manhattan and beyond. With a visionary perspective on property value and design, instilled by his architect parents, Giampaolo offers expert insights, strategic advice, and personalized support throughout every stage of the real estate process.
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THE LATEST INDUSTRY NEWS
5 Tips for Discussing Buyer Agent Commissions With Clients
Disclaimer: The contents of this article are industry best practices which were sourced from StreetEasy data and interviews with our Agent Advisory Board, unless noted otherwise. Any scripts provided are only meant to act as examples and are not required. Nothing in this presentation is intended to be legal advice. For specific questions about any duties or obligations arising out of a real estate transaction, check your local and state licensing laws and regulations, contact your broker, or an attorney.Since the NAR settlement, consumers have become more aware of how buyer agent commissions work. With this increased awareness, you may find that buyer clients have more questions or concerns about your fees. As an agent, it's essential to make sure clients understand how you're paid, your services, and the value you offer. Here are five tips to help guide that discussion.1. Establish rapport and confidenceBuilding a rapport can make the buyer feel comfortable and confident talking to you about commissions. At the beginning of the conversation, consider finding common ground and getting to know them on a personal level, and use this time to let them air their questions and concerns about your fee structure. You may find that addressing their considerations upfront leads to a stronger relationship in the long run.2. Clearly explain how your fee structure worksSome buyers may not understand the different ways buyer's agents can get paid, and mistakenly assume sellers always cover your commission. Introducing a buyer's agreement can be a good opportunity to go over exactly how much your commission is - whether it's a percentage of the sale, a flat fee, or a retainer - and who pays it. It's also a good idea to point out any other terms, such as exclusivity.Your client may have questions, like whether they'll have to pay your fee if the seller chooses not to. Be prepared to answer all questions clearly and transparently to avoid any misunderstandings.3. Remind them your fees are negotiableDespite the rising consumer awareness about agent commissions, buyers may not know that your fees are negotiable. Many agents note this in their buyer's agreement, but it doesn't hurt to point it out anyway. That said, it's up to you whether you want to lower your rate for a valuable deal, or to gain extra experience. And don't forget that the relationship should make sense for you as well as the client. You can even negotiate your commission to be part of your client's offer.Instead of pointing out that part of your fee goes toward your brokerage, marketing, and other business-related expenses, consider reminding the buyer that using an agent can save them time, money, and stress.4. Highlight the value you bringDiscussing your commission is also a great opportunity to communicate your value as a buyer's agent. You may want to share your various responsibilities and the expertise you bring to the table, such as:Finding listings that match clients' exact criteriaExperience helping other buyers purchase similar homes in the same neighborhoods or buildingsTapping your extensive network to connect the buyer with mortgage lenders, attorneys, and other real estate professionals they may needRepresenting their best interests during negotiations with the sellerGuiding them step-by-step through NYC's often complex home-buying processPutting together a competitive offer, and for co-ops, assembling a compelling board packagePersonal strengths like responsiveness, attention to detail, or negotiation skillsIf you're looking for clients who need your exact expertise, consider joining the StreetEasy® Experts program. Leveraging your knowledge of specific neighborhoods and buildings, we'll connect you with qualified buyers looking for your particular experience and skill set.5. Ask follow-up questionsEven after having an in-depth conversation about commissions, you don't want the buyer to walk away with lingering questions. To avoid this, consider asking follow-up questions at the end of the discussion to make sure everyone is on the same page. You may also want to send them some local market data, comparable reports, or neighborhood guides to further showcase your value and expertise. Let them know you're available at any point if they have additional questions or concerns. Discussing buyer agent commissions with your clients is essential if you want to lay a foundation of clear, upfront communication. By prioritizing honesty and clarity, you're demonstrating why they can trust you to protect their best interests - and why you're worth every penny of your fee.For more help navigating the latest industry standards, visit our resource hub for agents. Additionally, help your buyer clients better understand the NAR settlement's impact on them by sharing the below video from StreetEasy Home School.StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy Concierge team members are real estate licensees, however they are not your agents or providing real estate brokerage services on your behalf. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.
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How to Communicate Your Value as a Buyer's Agent
Disclaimer: The contents of this article are industry best practices which were sourced from StreetEasy data and interviews with our Agent Advisory Board, unless noted otherwise. Any scripts provided are only meant to act as examples and are not required. Nothing in this presentation is intended to be legal advice. For specific questions about any duties or obligations arising out of a real estate transaction, check your local and state licensing laws and regulations, contact your broker, or an attorney.As industry standards evolve and buyers ask new questions about what it means to work with an agent, it’s more important than ever for agents to effectively communicate their value. This is especially true in New York City, where buyers tend to be knowledgeable about real estate and selective when it comes to hiring an agent.Not to mention, many buyers now need to sign an agreement with an agent before touring homes with them. Such an agreement, however, can be a great entry point to the conversation about why a buyer should work with you. In this article, we offer our top strategies to help you communicate your value as a buyer's agent to potential clients.But first, some good news…Most buyers still want to work with a buyer's agentBuyers may have more autonomy when searching for homes, but most still want and need an agent to represent them and protect their best interests. According to Zillow research, 88% of buyers used an agent in 2023.That said, you may find more buyers asking tough questions about your fee structure and services before signing an exclusive agreement with you. So here are eight tips for communicating your value as a buyer's agent, starting with the first call.1. Ask buyers about their top priorities and concernsNot all buyers have the same priorities. Take time during your first call or meeting with a potential buyer to ask some key questions: Why are they looking for a new home? What's their budget? Is this their first time buying a home? Do they want to live near where they work, or be close to public transportation? What features and amenities do they want or need in a home?During this conversation, help the buyer get clear on their must-haves vs. nice-to-haves. Getting specific about their priorities early on not only helps you tailor their home search, but also shows them you care about their needs.2. Showcase your hyper-local expertiseAs a buyer's agent in NYC, hyper-local market expertise can be a tremendous asset. This requires more than researching a few trends; it means acquiring in-depth knowledge and experience in specific neighborhoods, property types, and buildings. Every NYC real estate transaction is unique - from the co-op board approval process to financing requirements - and you should demonstrate that you have the expertise a buyer needs for their particular home purchase.One way you can show off your hyper-local knowledge is by joining StreetEasy® Experts. When you become an Expert, StreetEasy can match you with buyers based on their interest in specific neighborhoods and buildings where you've conducted deals. It's a great way to get high-quality leads without adding more time-intensive or expensive marketing to your plate.3. Provide relevant market insightsNo matter how much research a buyer does, they probably can't match what you've learned from working in the NYC real estate market day in and day out. Be sure to show buyers you have your finger on the market pulse by sharing the latest trends and data that are relevant to their home search. Furthermore, it's a good idea to create comparable reports and share data on recent deals closed in the area — agents with a StreetEasy account can do so using Agent Tools on desktop or mobile. StreetEasy also makes it easy to stay up to date with our monthly market reports, which distill complex data into actionable insights you can use in your marketing and conversations with buyers.4. Explain how you make finding properties easierToday's buyers have a wealth of home-search tools at their fingertips - literally. Eager buyers may spend hours scouring online listings, comparing prices and square footage, and using search filters to find their ideal home. Explain to buyers how you can help them narrow down their search criteria, including their budget, and save them time by focusing on the right properties. What's more, you can contact the listing agents on their behalf and schedule showings.5. Walk them through the buying processThere's only so much Google or ChatGPT can tell buyers about purchasing a home. NYC real estate is incredibly nuanced, and your experience is invaluable in helping buyers navigate the complexities of co-ops vs. condos, board approval, flip taxes, new developments, financing requirements, closing costs, and so much more.During discussions with potential clients, it's a good idea to guide them through what to expect during house-hunting, bidding, negotiation, and closing. You can bring up some of your tips and strategies you've learned from navigating this process numerous times, and how you've helped buyers through it.6. Share success storiesDo you have a great buyer success story? Why not share it with prospective clients? Get honest and specific about how you negotiated for better prices, seller concessions, repairs and improvements, contingencies, or closing timelines. Or, maybe you have a story about a grateful buyer who found their dream home thanks to you. Potential clients want to know that you have the skills and confidence to protect their interests from start to finish.7. Highlight your connectionsYour network is another valuable asset as an NYC buyer's agent, as buyers need to hire other real estate professionals like lenders and lawyers to buy a home.Consider sharing with prospective clients that when they work with you, they get access to your network. Let them know you can help them find lenders with the best rates and customer service, the most experienced and honest home inspectors, and the most reputable and detail-oriented real estate attorneys.8. Be confident in your valueA final reminder: don't sell yourself short. Remember that you have the experience and knowledge buyers desperately need in this fast-paced, competitive market. By communicating your value effectively, you're giving buyers the confidence they need to work with you and reach their goal of homeownership.For even more help with conveying your value to potential buyers, you can point them to our resource hub containing useful information and articles on working with a buyer's agent.StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy Concierge team members are real estate licensees, however they are not your agents or providing real estate brokerage services on your behalf. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.
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The Best Neighborhoods for Pie in NYC
New York has always been a pizza pie town, but we'd wager that our actual pies are hot-hot-hot, too. That deliciousness spans from the appeltaarts of early Dutch colonizers to the Oprah-approved key lime pie at Little Pie Company in Midtown. Fork in hand, our trusted sources tasted their way through the Big Apple to figure out the best neighborhoods for pie in NYC - just in time for Thanksgiving. It reminds us of that Seinfeld episode when Frank Costanza said, "You want a piece of me?" In this case, the answer is unequivocally yes. Maybe two pieces.Table of Contents6 Best Neighborhoods for Pie in NYCMorningside Heights, ManhattanA 1961 institution, The Hungarian Pastry Shop tends to buzz with sugar and caffeine addicts at all hours. "It was a weekday afternoon when I went in and it was packed," recalls Erin Jean Whitney, Licensed Real Estate Salesperson with the Bohemia Realty Group and StreetEasy Expert, who recently stopped in. "You couldn’t sit down!" Whitney recommends the pumpkin cheesecake. "It was soooo good, and the people were super, super nice."In short: They've more than earned their galaxy of five star reviews and legions of regular customers, many of whom stop in from nearby Columbia University. Harlem and Morningside Heights Homes Under $850K On StreetEasy Article continues below East Harlem 207 East 120th Street $650,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 South Harlem 162 Lenox Avenue $339,900 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Central Harlem 30 Macombs Place $289,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 Morningside Heights 535 West 110th Street $749,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Central Harlem 224 Bradhurst Avenue $374,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 East Harlem 342 East 119th Street $550,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 2 East Harlem 109 East 100th Street $450,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Central Harlem 29 West 138th Street $610,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Harlem 1810 Third Avenue $590,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Harlem 342 East 100th Street $399,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Harlem 2279 Third Avenue $649,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Central Harlem 66 West 138th Street $385,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Harlem, ManhattanFurther uptown, Lee Lee's Baked Goods also opened in the swinging '60s - 1965, to be precise. "I had actually been in before, but I didn't realize what a legendary place this was," Whitney says. "You walk up to it and not only is it cute, but it actually has a screen door, like a front porch. And the bell rings when you walk inside." Owned by Alvin Lee Smalls, the bakery is famous for its rugelach, but its apple pie also has us salivating. Just from looking at the baked goods on offer, "you know that they are special and they're going to taste good and won't let you down," Whitney says. For pie delivery, she recommends Fancy Pies, which delivers daily in all five boroughs. Current fall flavors include Southern Bourbon pecan, creamy Jamaican spice pumpkin, and Nana's Alabama Apple. "They’re just really artsy…I don’t have enough good words to say."Gowanus, BrooklynThe backstory behind Four & Twenty Blackbirds bakery reads like a movie: two sisters move to New York City from a small farm in Hecla, South Dakota (population: 193), open a pie shop together, and eventually go viral - selling thousands and thousands of cookbooks and garnering even more fans for their toothsome and unexpected pie flavors, which include salted caramel apple and brown butter pumpkin. They've certainly given a sometimes industrial-feeling Gowanus some small town charm (true to their roots, nice touches abound; you can even add a hand-written note to your pie delivery order for $3). Gowanus Homes Under $1M On StreetEasy Article continues below Gowanus 183A 13th Street $799,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 500 Fourth Avenue $595,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Gowanus 183A 13th Street $825,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 251 Seventh Street $725,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 554 Fourth Avenue $750,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 161 12th Street $599,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 0.5 Gowanus 183A 13th Street $795,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 229 Ninth Street $800,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Gowanus 183A 13th Street $950,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lower East Side, ManhattanAmid the Queen Anne-style former tenements and Gothic revival churches of the Lower East Side, "Clinton Street baking company is one of my favorites!" says Ante I. Jakic, Licensed Associate Real Estate Broker with The Belvedere Advisors Team at Compass, Townhouse and Luxury Condo Expert, and StreetEasy Expert. "It has the best pumpkin pie I have ever tried." Whitney also loves Petee's Pie Company, on Delancey Street. "This is my favorite cherry pie," she says. "Nice and sour! It is just the right amount of tart; people over-sweeten pies too much. The magic of a cherry pie is really in that nice tart taste." Lower East Side and East Village Homes Under $1M On StreetEasy Article continues below East Village 630 East 14th Street $399,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Village 633 East 11th Street $450,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Village 399 East 8th Street $787,500 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lower East Side 477 Fdr $895,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lower East Side 504 Grand Street $650,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 East Village 141 East 3rd Street $795,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lower East Side 550 Grand Street $850,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 Lower East Side 237 Eldridge Street $550,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Lower East Side 453 F D R Drive $825,000 beds@1.5x Created with Sketch. 2 | bath@1.5x Created with Sketch. 1 East Village 212 East 13th Street $699,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Village 172 East 4th Street $895,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Village 305 East Fourth Street $925,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 East Village, ManhattanStrolling the East Village can sometimes feel like entering Gilmore Girls' Stars Hollow, thanks to towering elm trees and storybook architecture at every turn. And it tastes like it, too. "Another great [bakery] is Veniero’s," Jakic says. "It's a [130] year old pastry shop, and every single pie and cake I have ever had there has been to die for." The icon has been family run by five generations since it opened its doors in 1894, and they've been baking up heaven in their basement bake shop from the beginning. (The cheesecake is particularly divine and yes, they ship nationwide.)Upper West Side, ManhattanWhitney stops in at Silver Moon Bakery for their bread, but you'd be wise to check out their pies, too: currently on-offer is a highly Instagrammable Harvest Plum Tart that looks a bit like an unfurling rose, as well as an apple tart where slivers of Granny Smith slices gracefully rest atop a frangipane filling. Upper West Side Homes Under $1M On StreetEasy Article continues below Lincoln Square 142 West End Avenue $450,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Lincoln Square 18 West 70th Street $750,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Upper West Side 127 West 79th Street $850,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Upper West Side 146 West 80th Street $685,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Upper West Side 126 West 96th Street $359,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Lincoln Square 1 West 67th Street $875,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lincoln Square 10 West 66th Street $985,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Upper West Side 140 Riverside Drive $600,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Lincoln Square 165 West 66th Street $695,000 beds@1.5x Created with Sketch. 1 | bath@1.5x Created with Sketch. 1 Lincoln Square 180 West End Avenue $545,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Lincoln Square 45 West 67th Street $849,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 Upper West Side 123 West 86th Street $425,000 beds@1.5x Created with Sketch. Studio | bath@1.5x Created with Sketch. 1 "Their bread is so killer, but they have a number of fruit tarts that are super fun and colorful to add to any table display," she says. "For the holidays, they will be debuting chocolate mousse, pecan pumpkin and apple pie." Even though we haven't tasted them yet, you can bet that we'll be waiting at their door…because in pie we crust. Much like our pie, buying a home in NYC is unlike anywhere else. Chat with our licensed StreetEasy Concierge for a free consultation to get prepared.GET STARTED StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.
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TIPS & ADVICE
RealtyHop Housing Affordability Index: August 2024
In this August edition of the RealtyHop Housing Affordability Index, we examine what American households across the 100 largest cities need to spend on housing to find out:Is homeownership affordable or possible for the average American family?American families continue facing unaffordable housing markets in most cities, yet some markets may feel relief as interest rates decrease this month. The average 30-year fixed rate went down to 6.7925%, about 20 basis points lower than the previous month. Those looking to purchase property this season should consider what others in their local housing market must pay monthly. Key FindingsHomebuyers in 88 out of the 100 major cities we analyzed would have to spend over 30% of their annual income on homeownership; that’s two less than last month.In the 25 most unaffordable housing markets nationwide, homeowners spend at least 47% of their income on homeownership costs.California remains unaffordable for average Americans. Seven of the ten least affordable markets are in California.Two of the five least affordable housing markets — Irvine, CA, and Newark, NJ — became less affordable this month.Median home prices increased in all five of the most affordable housing markets for the second month in a row: Toledo, OH; Detroit, MI; Fort Wayne, IN; Wichita, KS; and Buffalo, NY.The 5 Least Affordable Housing Markets1. Los Angeles, CALos Angeles holds onto its spot as the country’s least affordable housing market. The median list price dipped slightly to $1,075,000, and households can expect to spend 93.13% of their monthly income on mortgage payments and property taxes.2. Miami, FLMiami remains the second least affordable housing market this month. Families with a median household income of $57,117 will spend $4,186.05 monthly on their homeownership costs.3. Irvine, CAIrvine also maintained its spot in the rankings and is the third least affordable housing market. The median list price increased to $1,530,000, and homeowners with a median income must spend 84.78% of their income on mortgage payments and property taxes.4. New York, NYNew York City maintains its spot as the fourth least affordable housing market. The median list price decreased to $840,500, and households can expect to spend $4,838.44 monthly on homeownership costs.5. Newark, NJNewark is still the fifth least affordable housing market this month. Prospective buyers can expect to spend $409,900 on a home and direct 69.25% of their monthly income toward the costs of homeownership.The 5 Most Affordable Housing Markets1. Toledo, OH Toledo again ranked as the most affordable housing market in the country. With a median list price of $115,000, households can expect to spend $763.19 monthly on mortgage payments and property taxes, or 19.37% of their annual income.2. Detroit, MI Detroit also held its spot in the rankings as the country’s second most affordable housing market. Households generating a median income of $39,316 can expect to spend 19.55% of their monthly earnings on homeownership costs.3. Fort Wayne, INFort Wayne remained the third most affordable housing market this month. The median list price increased slightly to $224,900, and buyers can expect to spend 26.38% of their income on mortgage and tax payments.4. Wichita, KSWichita is the fourth most affordable housing market. Homeowners can expect to spend $1,397.12 a month on housing costs for a home with a median list price of $226,000.5. Buffalo, NYBuffalo ranked as the fifth most affordable housing market this month. With a median list price of $184,900, households can expect to spend 28.28% of their income monthly on the costs associated with homeownership.Housing Markets to WatchThe following housing markets witnessed significant changes this month.Irving, TXIrving is now the 40th least affordable housing market in the country. While the city only jumped four places in our rankings, the median list price increased by 4.82% to $434,999. This significant increase means households with a median income need to direct 43.29% of it toward housing costs.Plano, TXAnother part of Texas is also of note this month. Plano dropped eight spots to become the 57th least affordable housing market. Families with a median income of $110,029 can expect to spend $3,576.34 monthly on their mortgage payments and property taxes.Chesapeake, VAChesapeake households also watched their market become less affordable this month, moving to the 81st spot on our list. The median list price increased to $435,000, and families can expect to direct 31.92% of their income toward the costs of homeownership.MethodologyThe RealtyHop Housing Affordability Index analyzes proprietary and ACS Census data to provide an index of housing affordability and homeownership burden across the 100 most populous cities in the country. Median home prices are calculated using over 800,000 listings in the RealtyHop database over the month prior to publication.To calculate the index, the following statistics are used:1) Projected median household income2) Median for-sale home listing prices via RealtyHop data3) Local property taxes via ACS Census data4) Mortgage expenses, assuming a 30-year mortgage, a 6.7925% mortgage interest rate based on reported weekly averages in July, and a 20% down payment.Full DataThe post RealtyHop Housing Affordability Index: August 2024 appeared first on RealtyHop Blog.
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What You’ll Get in NYC for $900,000
New York City still hosts the country’s fourth least affordable housing market, and buyers must carefully asses their budget and search criteria during the purchasing process. Buyers looking for larger apartments with multiple bedrooms can still find appealing options. The following units under $900,000 include in-unit laundry, private outdoor space, and stainless steel appliances. 120 Riverside Boulevard #4J Manhattan, NYPRICE$899,000BED1BATH1TYPECondoNEIGHBORHOODUpper West SideBOROUGHManhattanUpper West Side buyers can consider this spacious one-bedroom condo with floor-to-ceiling windows. Upon entering the unit, owners will find the galley kitchen with stainless steel appliances, a dishwasher, and light wood cabinetry. The large living room includes a coat closet and a hidden in-unit washer and dryer. Residents will appreciate additional storage in the bedroom and modern finishes, including a full bathtub in the bathroom. The building boasts multiple attractive amenities, including a state-of-the-art fitness center with a steam room and sauna, a media lounge with a projection screen, and a furnished rooftop with sweeping views of the Hudson River. Owners will appreciate their proximity to Lincoln Center, Riverside Park, and Upper West Side restaurants.27 Dodworth Street #4F Brooklyn, NYPRICE$895,000BED2BATH2TYPECondoNEIGHBORHOODBushwickBOROUGHBrooklynCouples and small families will enjoy the natural light and private outdoor space in this two-bedroom, two-bathroom condo. The main floor includes a living room with access to the private balcony and the smaller of the two bedrooms, which could convert into a home office. In the kitchen, stainless steel appliances, including a dishwasher, and a closet with the unit’s washer and dryer. Residents will walk upstairs to the primary suite, complete with a walk-in closet, private bathroom, and access to the private outdoor terrace. This outdoor space fits multiple pieces of furniture and provides city views. The penthouse unit is one of five condos in the building, offering a small and quiet community settled near Bushwick’s vibrant restaurants, nightlife, and entertainment. This unit just dropped in price and is available for under $900,000.110-38 64 Avenue #3635 Queens, NYPRICE$879,000BED3BATH2TYPECo-opNEIGHBORHOODForest HillsBOROUGHQueensFamilies can sprawl out in this two-story townhouse with lofted space. The large living and dining area offers space for plenty of furniture and receives natural light through six windows. Owners will appreciate the features of the contemporary kitchen, including stainless steel appliances, multiple cabinets, and an island with room for seating. The unit’s three bedrooms reside on the first floor, and the primary suite includes a private bathroom and two closets. Upstairs, owners can take advantage of plenty of storage space and use the home’s fourth room as an office, playroom, or other recreational area. This floor also includes a sitting room, three more closets, and a half bathroom. Throughout the home, residents will appreciate in-unit laundry, central air conditioning, and hardwood floors. This unit has a low cap rate of 2.79%.155 E 73rd Street #9B Manhattan, NYPRICE$850,000BED2BATH1TYPECo-opNEIGHBORHOODUpper East SideBOROUGHManhattanThis bright and expansive two-bedroom receives plenty of natural light that shines off the dark hardwood floors. The oversized living room in this unit stands out with plenty of windows, a fireplace, and a full wall of built-in storage. Multiple cooks can make a meal in the kitchen with stainless steel appliances, a dishwasher, and white cabinetry. Each bedroom offers two windows and storage space, with the primary bedroom boasting a walk-in closet. This pet-friendly unit resides in a 34-unit building with a part-time doorman, laundry room, and bike storage. Residents will live near Central Park, Upper East Side shopping opportunities, and restaurants.75 Henry Street #2F Brooklyn, NYPRICE$835,000BED1BATH1TYPECo-opNEIGHBORHOODBrooklyn HeightsBOROUGHBrooklynThe oversized kitchen in this co-op makes it appealing to cooking enthusiasts. When owners enter the unit, they’ll find the kitchen directly on their left, featuring stainless steel appliances, a pantry, and plenty of counter space with room for barstool seats. Off the other side of the foyer rests two closets. The open-concept living area includes large windows and a door onto the private balcony, which includes enough room for chairs and a small table. Owners can place a king-size bed in the bedroom and will appreciate the spacious walk-in closet. Throughout the unit, they’ll see hardwood floors and feel the central air conditioning. This unit resides in 75 Henry, a full-service building with a gym, indoor garage, and a planted terrace.The post What You’ll Get in NYC for $900,000 appeared first on RealtyHop Blog.
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What You’ll Get in NYC for $875,000
New York City hosts the country’s fourth least affordable housing market, forcing buyers to carefully asses their budget and search criteria during the buying process. Buyers looking for larger apartments with multiple bedrooms can still find appealing options. The following units under $875,000 include pre-war charm, in-unit laundry, and private outdoor space. 77 W 55th Street #3E Manhattan, NYPRICE$875,000BED2BATH1TYPECondoNEIGHBORHOODMidtownBOROUGHManhattanThis spacious two-bedroom provides an attractive opportunity for Midtown workers who prioritize a short commute. Owners will find two closets immediately upon entering the foyer, then turn right into the oversized living room with multiple windows. The windowed kitchen separates the two bedrooms and boasts stainless steel appliances, a dishwasher, and plenty of cabinet and counter space. Residents can use the smaller bedroom for various purposes, such as an at-home office or dining room. More closet spaces rest around the unit, with two closets off of the bathroom and an additional larger closet in the primary suite. This home resides in the Gallery House, a luxurious building with 184 units that presents sweeping views of the Manhattan skyline and Central Park. Throughout the building, residents can take advantage of amenities like a roof deck, parking garage, and laundry facilities.702 45th Street #3L Brooklyn, NYPRICE$849,000BED3BATH1TYPECo-opNEIGHBORHOODSunset ParkBOROUGHBrooklynFamilies will find plenty of space to spread out in this three-bedroom co-op that is steps away from Sunset Park. This renovated home includes a modern kitchen with stainless steel appliances, butcher block counters, and space for barstool seating. Owners will find a wall of built-in bookcases in the living room, complete with multiple windows and dark hardwood floors. This room can remain as a living room space or convert to a bedroom, at-home office, or other recreational space. The remaining two bedrooms sit on opposite sides of the home, and the primary bedroom includes a spacious closet. Residents will acquire additional storage space within the home and live in a quiet building with bike storage, laundry facilities, and a live-in super.37-16 80th Street #42 Queens, NYPRICE$875,000BED2BATH1TYPECo-opNEIGHBORHOODJackson HeightsBOROUGHQueensThis bright and welcoming co-op is ready to welcome new owners. The two-bedroom unit includes plenty of space with a living room, dining room, and separate home office, making this an appealing option for those who work at home. Owners will find two large windows and a wood-burning fireplace in the living room and plenty of space for a full dining room set off the kitchen. The renovated kitchen features custom cabinetry with quartz countertops, updated appliances, and a large exposed wooden beam. Each bedroom boasts enough space for plenty of furniture and includes closet space and ceiling fans. Pre-war charm flows throughout the home with hardwood floors, high-beam ceilings, and crown molding. Residents will find bike storage, laundry, and private storage in the basement, then walk through the complex to find gardens and outdoor seating. This unit has a low cap rate of 2.49%.129 E 82nd Street #8A Manhattan, NYPRICE$875,000BED2BATH1TYPECo-opNEIGHBORHOODUpper East SideBOROUGHManhattanProspective buyers who are in the market for a classic Upper East Side pre-war home can consider this two-bedroom in a well-maintained building. The unit features original hardwood floors, high-beamed ceilings, and molding throughout. Upon entering the residence, owners can enter the kitchen or living room with in-unit laundry, plenty of windows, and space for a dining table. The bedrooms reside on the other side of the co-op and offer multiple closets and similar-sized floorplans. Buyers will gain access to the building’s additional amenities like a full-time doorman, live-in super, laundry facilities, and an eye-catching lobby. This unit is new to the market and rests a few blocks from Central Park and the Metropolitan Museum of Art.500 4th Avenue #5D Brooklyn, NYPRICE$865,000BED1BATH1TYPECondoNEIGHBORHOODGowanusBOROUGHBrooklynBuyers looking for a luxurious unit can consider this modern and oversized one-bedroom with access to various building amenities. The front door opens into the sprawling open-concept kitchen and living room space that features floor-to-ceiling windows and light hardwood floors. At-home chefs will enjoy marble countertops and stainless steel appliances, including a wine fridge and dishwasher in the kitchen. Owners will walk past the laundry closet into the bedroom, which features additional large windows and a walk-in closet. Throughout the apartment, residents can appreciate central heating and cooling, a luxurious bathroom, and a balcony with city views. Residents can explore the remainder of the building to find a fitness center, a private screening room, and a landscaped terrace. This building sits near Prospect Park, and the unit has a low cap rate of 3.02%.The post What You’ll Get in NYC for $875,000 appeared first on RealtyHop Blog.
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WORK WITH GIAMPAOLO IENNA | NYC REAL ESTATE
Experience unparalleled service and expertise with Giampaolo Ienna, your trusted partner in navigating NYC's luxury real estate market. Whether buying, selling, or investing, Giampaolo provides personalized guidance and strategic insights to ensure your success at every step.
TESTIMONIALS
- Giampaolo did a terrific job organizing our rental lease in New York! We worked remotely with him from Australia and it was a seamless process. He was available 24/7 to assist us at any time (crucial in a different time zone). Extending our lease was also simple and easy with him. We’d 100% rent from Giampaolo again and highly recommend him! :)
rand australia - Giampaolo is a very resourceful guy, has a lot of connections and helped me find a tenant.I find him to be trustworthy and honest. He knows the market well and found a tenant relatively quick.projectx97
- Working with Giampaolo was fantastic! He understood my needs, showed me great options, and negotiated a deal I was thrilled with. He's support and expertise made the process smooth. Highly recommend!NYCliving18
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