NYC Agents to Dottie Herman: We’re not afraid to walk around town


New York City is coming to life, a stark contrast to the Silence that haunted its streets last year.

And while there is no doubt that the real estate market is on the rise, views differ on whether or not the rise in crime is affecting recovery.

On Monday, Douglas Elliman’s CEO Dottie Herman said Fox business that the biggest problem facing real estate in New York City right now is crime.

“I’m optimistic, but there are certain underlying factors, and from everything I hear – and I’m out there all the time – the biggest problem is crime,” Herman told Fox Business’ Neil Cavuto in Cavuto: Coast to Coast. ”“ People are afraid to actually walk in the city. And before the pandemic, New York was the safest city in the United States.

In June, the NYPD reported that the overall crime rate had increased 3.1 percent compared to the same time last year.

But New York-based real estate professionals told Inman that the crime rate didn’t put their business off. Indeed, business is flourishing.

In the second quarter of this year, a Report by Douglas Elliman and Miller Samuel found the average resale price for Manhattan apartments reached $ 999,000, a record high. And there were 3,417 sales in the district, 15.6 percent more than in the second quarter of 2019.

A spokesman for Douglas Elliman told Inman that business for the company is also booming. The company has been writing $ 1 billion in new business a month since February.

Bess suitors.

“Although crime has increased, and that’s never a good thing, the NYPD just released new statistics showing that deadly shootings and shootings in general fell about 20 percent in June. The MTA also reported a decrease in crime, ”wrote Bess Freedman, CEO of Brown Harris Stevens, to Inman, adding that the increase in crime has not stopped them from walking the city streets.

“Now the NYC market is booming, the average resale price soared 21 percent, and a record number of deals were signed in the second quarter,” added Freedman. “People are coming back – there is evidence everywhere – and that is reflected in our sales and rental activities.”

For Christopher Totaro, a realtor at Warburg Realty, this was one of his busiest years.

While he agrees that the rise in crime is an urgent problem that needs to be addressed, it has not had a direct impact on his business.

“In all of my transactions this year, not a single conversation has come about,” he said.

Barbara Fox, Founder and President of Manhattan-based Fox Residential, is on a similar page.

“All New Yorkers are concerned about the rise in crime, but it hasn’t changed the buoyancy of city life and the streets are busier than ever,” she wrote to Inman. “I’m never afraid to walk around town (and I do that often!) And don’t find the streets intimidating at any time of the day.”

Pamela D’Arc, a broker at Compass, told Inman she has four closings across Manhattan this week.

“I find that a lot of people were actually disenchanted with places they went out of town, places they temporarily moved to, and who were considering moving to a full-time job,” she said. “Many of my clients came back because they missed the schools here, they missed the culture, they missed everything that New York is all about.”

A temporary road block

Totaro believes fears about the rising crime rate will be temporary.

Christopher Totaro.

There is great hope that the new administration coming to New York City will rise to the challenge and find a solution, he said.

We trust our new mayor will soon get the criminals off the streets and hopefully our city life will return to normal with increased vaccinations, ”added Fox.

The general election for the new Mayor of New York City will take place in November. Eric Adams won the Democratic primary in early summer. He will soon compete with the Republican candidate Curtis Sliwa.

Much of what the city is seeing right now, D’Arc added, has to do with a pandemic. Problems such as homelessness and drug use have worsened due to closings and job losses.

“I think there are plenty of New Yorkers willing to roll up their sleeves to make sure everyone has a home to live in and to strengthen our social services,” she said.

That being said, the rise in crime has an inevitable impact on consumer preference in the city. While it might not put off buyers, it does affect where some settle.

Rowena Dasgupta.

Rowena Dasgupta, another Warburg Realty agent, told Inman that some shoppers are avoiding certain neighborhoods they previously considered in order to prefer safer ones.

“Since I work with buyers, I can talk about it to a certain extent. Don’t be put off; they avoid neighborhoods they may have previously considered for the Upper East Side or Midtown East. I also know people who move to the “boring” Upper East Side because of city crime. Somehow the crime that comes with an increasingly dirty city makes some parts of the inner city less desirable.

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