Building lasting relationships is the
cornerstone of our business. Our knowledge
and dedication are geared toward obtaining
results. Allow us to put our expertise to work
to help you achieve your real estate needs.
OUR EXPERTISE. YOUR EXPOSURE.
We have the experience, network and personal approach to help you through
every step of the sales process. We’ll work with you from start to finish to help
you successfully sell your property with the greatest efficiency at the maximum
price. Our extensive knowledge of the industry and attentive approach to client
relationships have helped us stand out as leaders in New York City real estate.
40,000
new yorkers
over the past
three years
citi habitats
found homes through
1.2MM
unique visitors
industry-leading
website
citihabitats.com
per year
We Are Connected
In the past three years alone, we have helped over 40,000 New Yorkers find new homes. Citi Habitats independent
agents have extensive lists of qualified leads and have spent years building longstanding relationships with many of
their clients.
We Get You More Exposure
Our best-in-class marketing and public relations teams generate maximum market exposure for Citi Habitats
agents and your property. We’ll also use direct mail and email marketing to promote your property to your building,
neighborhood and our vast network of contacts, including the entire brokerage community.
We Have a History in New York City
Our extensive network of offices is strategically laid out across Manhattan and Brooklyn. Each neighborhood office
operates as a specialized boutique. You get the best of both worlds: personalized service and attention to detail,
coupled with the vast resources and technology of a large organization.
citihabitats.com
CITI HABITATS
BE WHERE THE MASSES ARE SEARCHING.
We are always striving to provide you with exceptional service and maximum
exposure of your listing. We understand the market and will guide you through
the process of listing your property across multiple channels. We’ll also place your
listing on our highly trafficked website and feature it on a combination of the sites
seen here.
Citi Habitats agents and
corporate team are regularly
featured as experts and
leaders in media such as:
Our exclusive listings and
closed deals get mentioned
in media outlets such as:
WE GET MORE PRESS THAN MOST.
Selling Your Home
WE’RE YOUR EYES AND EARS ON THE REAL ESTATE MARKET.
This is your chance to leverage our extensive access to real estate information.
Sales Market Reports
We publish quarterly and monthly reports giving snapshots of
Manhattan and Brooklyn real estate sales. These reports help
us appropriately price your apartment, an essential step in
the early stages of marketing your property. We have the most
comprehensive market data available and are the ultimate
resource on emerging market trends.
THE PRICE THAT’S RIGHT
It’s important to appropriately evaluate your property to optimize buyer interest.
We work with you to carefully price your listing in accordance with your
expectations and our knowledge of the market.
We’ll help you determine the highest possible asking price for your property at the onset, and we’ll be there
throughout the process to help you reposition the price if necessary. Citi Habitats agents are experts in pricing and
will provide all of the guidance you’ll need in order to stay competitive in the market.
$
optimize
buyer
interest
ensure
seller
fulfillment
citihabitats.com | 1Brooklyn Monthly Market Snapshot CITI HABITATS
March 2016
MARKETWIDE SUMMARY
Market conditions this month were very different compared to las
t March. Last year at this time, sale prices were at an all time high while inventory was near an all-time low. March 2016 sales activity increased 5%, likely due to the 21% year-over-year boost in inventory. 41% of buyers negotiated the asking price, a larger share than last year. The average sale price was 2.2% lower than the average asking price this month, now the four
th consecutive month of discounts. Average sale price was 15% lower versus the record high figure las
t year but 19% higher than last month, which was the lowest average price since July 2014. Median price dropped 9% year-over-year but increased 8% from February. Average price per square foot dipped 8% from las
t year and just 1% from last month. All bedroom types had price dips versus a year ago except two bedrooms, which held s
teady. Days on market remained below 60 days, level with last month and last year.
Marketwide1 Current Month
March 2016 Prior Month February 2016
% Change Prior YearMarch 2015 % Change
Average Sale Price $1,256,100
$1,058,325 19% $1,471,191 -15%
Median Sale Price $980,000
$905,000 8% $1,082,500 -9%
Average Price per Square Foot $794 $799 -1% $864 -8%
Average Days on Market 57 56 2% 56 2%
Difference from Last Ask to Sale-2.2% -0.6% N/A 0.8% N/A
Percent of Sales Sold Below Ask41% 37% N/A 27% N/A
Listed Apartment Inventory2 2,276 2,097 9% 1,877 21%
Number of Contracts Signed 442
315 40% 421 5% Signed Contracts $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 Price P er Square F oot
Bedroom Type Studio
-2% 1 -5% 2 0% 3+ -8% Reflects % Change $1,024$1,001 $955$912 $986$983 $834$769
March 2015 March 2016 MANHATTAN RENTAL VACANCY RATES: March 2016 0 0.5 1 1.5 2 2.5 Mar/16 OctNov Aug MarAprMay June Sep Dec JanFeb
July
citihabitats.com | 4
CITI HABITATS
Manhattan Residential Rental Market Report
The above estimated information is based on Citi Habitats’ closed rental transactions, current rental listings in the firm’s database and company research. Owned and operated by NRT.
March 2016
*New Developments include all rental and condo buildings built af
ter 2006. **Elevator averages in the downtown neighborhoods include a significant number of lof t rentals compared
to other neighborhoods. ***W alkup averages include brownstone and townhouse rentals. OVERALL BLENDED AVERAGES: March 2016
BLDG Classification Studio1BR2BR3BR
New Development w/ DM* $3,344 4,5537,0778,577
Doorman $2,804 4,0106,4107,720
Elevator** $2,415 3,1914,6115,792
Walkup*** $2,235 2,7753,7804,978
AVERAGE VACANCY RATE: March 2016
Location Vacancy Rate
BPC / Financial Dist. 1.83% Chelsea 1.62% East Village 2.48% Gramercy 0.62% Midtown East 1.86% Midtown West 2.09% Murray Hill 1.59% Soho/Tribeca 0.91%
Upper East Side 1.76%
Upper West Side 2.10%
West Village 2.33%
Average: March 1.79%
Average: February 1.74%
Difference -0.05%
MEDIAN RENT SUMMARY: March 2016 % OF TRANSACTIONS WITH A CONCESSION MARCH 2016 20% 2.06% 1.13% 1.81% 1.62% 1.37% 1.50% 2.02% 1.07% 1.79% 1.90% 1.74% AVERAGE RENT SUMMARY: March 2016
Location Studio 1BR2BR 3BR BPC / Financial Dist.$2,618 $3,707 $5,450$6,395 Chelsea $2,603$3,416 $5,071$6,660 East Village $2,058 $2,813 $3,413$4,475 Gramercy/Flatiron$2,500$3,233 $5,100 $6,254 Harlem $1,550 $2,030 $2,589 $3,388
Lower East Side $2,250 $3,050 $3,575 $4,119
Midtown East $2,451$3,293 $4,075 $5,350
Midtown West $2,432$3,353 $4,463 $5,215
Morningside Heights$2,001 $2,500 $3,273 $4,154
Murray Hill $2,350$3,113 $4,000 $4,673
Soho/Tribeca $2,523 $3,698$5,899 $8,015
Upper East Side $1,976$2,515 $3,321 $5,550
Upper West Side $2,104$2,836 $3,875 $6,000
Washington Heights $1,173 $1,678$2,175$2,510 West Village $2,685$3,656 $4,030 $5,598 Average: March $2,208$2,983$4,011$5,210 Average: February$2,191 $3,026$4,004$5,236 % Change 1% -1% 0% 0% 1.42%1.40% Median $3,750 $4,450 $3,450 $4,500 $2,600 $2,900 $3,598 $3,550 $3,600 $3,600 $5,315 $3,398 $3,845 $2,498 $3,800 5,000 4,000 3,000 2,000 1,000 0 Eas t Villag e C helsea Harlem Gr amerc y/Fla tiron M idtown Eas t L ower Eas t Side M orningside H eights Midtown W est SoH o/T ribeca Murr ay H ill U pper W es t Side Upper Eas t Side W ashing ton H eights W es t Villag e 7,000 BPC / Financial Dis t. 6,000
CITI HABITATS
citihabitats.com
CITI HABITATS
You’ll never get a second chance to make a first impression.
The Difference Is in the Details—5 tips
Flip on all
switches—good
lighting is key.
A new shower
curtain never hurt
anybody.
Refresh the walls
with a few coats of
neutral paint.
Get out the mop
and vacuum—
any home looks
better clean.
Crack a window.
Fresh air
promotes good
decisions.
Cut down on
clutter to make
rooms feel more
spacious.
Get out your
toolkit and make
any small repairs
you can.
Purchase flowers
and plants to
bring in extra
fresh air.
Polish floors,
mirrors, and
fixtures to make
your home shine.
Use mirrors to
create the illusion
of more space.
Small Investments Yield Big Results—5 tips
WE’LL HELP YOUR HOME PUT ITS BEST FOOT FORWARD.
We want to help you cast the best light possible on your property. All of our
exclusive listings are photographed by professionals who are experts in lighting and
photo composition. We’ll also give you insider information on effective staging
techniques we’ve gleaned from our many years in the business. So you’ll be
equipped with the specifics of how to best present your home and leave viewers
wanting to see more.
WE UNDERSTAND BUYERS.
Experience has shown that superior real estate marketing requires a proven
strategic plan and the ability to target buyers successfully.
We have nurtured relationships with every kind of buyer from first-time purchasers to foreign investors. As a
member of the Real Estate Board of New York (REBNY), we adhere to the “24-Hour Rule,” and disseminate all
of our exclusive listings to the 225+ firms in REBNY within 24 hours. Your property will be seen by 16,500 sales
professionals throughout the entire city, so you’ll be seen by the most serious and qualified buyers.
EFFECTIVE PROPERTY MARKETING
We have a long history of building lasting relationships with clients and potential
buyers. Direct mail and email marketing ensure your property receives robust
attention from the brokerage community and our vast network of contacts.
We design professional show sheets, newsletters, and mailings customized
with photos and information that is important to buyers.
16,500
sales professionals
24
hours
Within
will have viewed your property
SIGNAGE
Show Sheets
Signage
552 Central Park West
Upper West Side
web id: 123456 maintenance: $1,183 financing: 90% allowed size: 2br / 1 ba apartment features asking price: $2,000,000 For further information please contact Exclusive Agent:
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Pellentesque auctor accumsan tincidunt. Vestibulum erat tellus, dignissim id ornare quis, tempor sit amet ante. Nunc augue ut tortor consequat ut ultricies lorem vulputate. Integer augue elit, varius eu tempor nec, ultricies vitae velit.t tortor consequat ut ultricies lorem vulputate. Integer augue elit, varius eu tempor nec, ultricies vitae velit.t tortor consequat ut ultricies lorem vulputate. Integer augue elit, varius eu tempor nec, ultricies vitae velit. Integer augue elit, varius eu tempor nec, ultricies vitae velit. Integer augue elit, varius eu tempor nec, ultricies vitae velit.t tortor consequat ut ultricies lorem vulputate.
Feature 1 Feature 2 Feature 3 Feature 4 Feature 5 Feature 6 GARY MALIN President 212.685.7777 gmalin@citihabitats.com 552 Central Park West
CITI HABITATS
Direct Marketing
online
citihabitats.com
EXAMINING THE SALES PROCESS
ONE
day
TWO
day
FIVE
day
TWO
week
TEN
week
TWELVE
week
FOUR
week
SIX
week
EIGHT
week
Offer is Prepared and Submitted
Loan Approval + Commitment Letter Issued from Bank
Offer Negotiation + Acceptance
Final Walk-Through
+ Transaction Closing
Seller Signs Contract + Sends Copy to Buyer
Buyer Signs Contract + Escrow Deposit
Bank + Attorney Prep Closing
Co-op Board Package
+ Interview/Condo Application
journey starts here
finish
Contract
Review/Attorney
Due Diligence**
(Once board package is submitted, scheduling an interview is dependent on board meetings and may take 2-3 weeks.)
Loan Application + Appraisal
Bank Gives
Clearance
to Close
Closing
Scheduled
*This timeline is for illustration purposes only. Closing time frame can vary depending on deal terms such as financing and building type. ** Offering Plan, Building Financials, Contract, Board Minutes read at managing agents office.
We are with you every step of the way.
CITI HABITATS
Closing Cost Estimates: Condominium Apartments, Townhouses, & 1-3 Family Dwellings
FOR THE SELLER
ESTIMATED COST
MY APPROX. COST
Own Attorney Varies* $ NYC Real Property Transfer Tax 1% of sale price if $500K or less; 1.425% of sale price if more than $500K** $ NYS Transfer Tax 0.4% of sale price for transactions less than $3M0.65% of sale price for transactions greater than or equal to $3M*** $ Reserve Fund Contribution (if applicable) Determined by condo board; payable by buyer unless otherwise stated $ Payoff Bank Fees (if applicable) $250 and up $ Managing Agent Fees $650 and up $ Move-Out Deposit $500 - $1,000 (usually refundable if no damage) $ Broker Commission 6% of sale price $ E Tax Filing (ACRIS) $100 $ Property Condition Disclosure Statement Waiver Fee $500 - $1,000 $ NYS Capital Gains Tax Withholding 8.97% of taxable gain on sale (Only applicable to non-NY residents) $ Federal Withholding Tax (FIRPTA)
10% - 15% of sale price if seller is non-U.S. resident (Additional taxes on capital gain associated with the sale of real estate including Federal, State and the specialized Medicare tax may apply. Consult with your tax professional to ensure compliance with all applicable tax regulations. Citi Habitats is not a licensed tax advisor.)
$
FOR THE PURCHASER
ESTIMATED COST
MY APPROX. COST
Own Attorney Varies* $ Building Application $500 and up $ Title Insurance, Title Search, & Recording Fees 0.6% of sale price and up $ Move-In Deposit $500 - $1,000 (usually refundable if no damage) $ Contribution to the Superintendent’s Residence Prices can vary so be certain to inquire $ Common Charges, Property Taxes, & Insurance Premium Adjustments pro-rated as of closing $ Mansion Tax
Sale price over $1M but less than $2M = 1% Sale price from $2M to less than $3M = 1.25%*** Sale price from $3M to less than $5M = 1.5%*** Sale price from $5M to less than $10M = 2.25%*** Sale price from $10M to less than $15M = 3.25%*** Sale price from $15M to less than $20M = 3.5%*** Sale price from $20M to less than $25M = 3.75%*** Sale price from $25M and up = 3.9%***
$ Origination Costs – Points 0 - 3% of loan $ Application, Credit Check, etc Varies* $ Appraisal Varies* $ Bank Attorney $800 - $1,250 $ Mortgage Recording Tax 1.8% for all mortgages less than $500K 1.925% for all mortgages of $500K or more minus $30 for townhomes $ Real Estate Tax Escrow 0 - 6 months, depending on lender requirements $ NYC Real Property Transfer Tax 1% to 1.425% of sale price** $ NYS Transfer Tax 0.4% of sale price; 0.65% of sale price for transactions greater than or equal to $3M*** (Transfer taxes are calculated and added to sale price (for tax purposes
only) and then recalculated based on the bulked up price) $ Sponsor Attorney Fee $2,500 - $3,500 $
MOR TG AGE A SSOCIA TED FEE S CL USIVE T O NE W DE VEL OPMENT S
CITI HABITATS
Closing Cost Estimates: Co-op Apartments
FOR THE SELLER
ESTIMATED COST
MY APPROX. COST
Own Attorney Varies* $ Stock Transfer Stamps $0.05 per share $ NYC Real Property Transfer Tax 1% of sale price if $500K or less 1.425% of sale price if more than $500K** $ NYS Transfer Tax 0.4% of sale price for transactions less than $3M0.65% of sale price for transactions greater than or equal to $3M*** $ UCC-3 Filing $75 - $125 $ Flip Tax (if applicable) Determined by co-op building (unless otherwise stated or negotiated) $ Payoff Bank Attorney (if applicable) $450 - $550 $ Managing Agent Fees $650 and up $ Move-Out Deposit $1,000 $ Broker Commission 6% of sale price $ Estate Fees Co-op may impose additional fees for estate sales $ Lost Stock & Lease Fees $250 and up $ E Tax Filing (ACRIS) $100 $ NYS Capital Gains Tax Withholding 8.97% of taxable gain on sale (Only applicable to non-NY residents) $ Federal Withholding Tax (FIRPTA)
10% - 15% of sale price if seller is non-U.S. resident (Additional taxes on capital gain associated with the sale of real estate including Federal, State and the specialized Medicare tax may apply. Consult with your tax professional to ensure compliance with all applicable tax regulations. Citi Habitats is not a licensed tax advisor.)
$
FOR THE PURCHASER
ESTIMATED COST
MY APPROX. COST
Own Attorney Varies* $ Building Management Agent Fee $500 and up $ Move-in Deposit $500 - $1,000 (usually refundable if no damage) $ Lien Search $350 $ Maintenance Adjustment Pro-rated for month of closing $ Mansion Tax
Sale price over $1M but less than $2M = 1% Sale price from $2M to less than $3M = 1.25%*** Sale price from $3M to less than $5M = 1.5%*** Sale price from $5M to less than $10M = 2.25%*** Sale price from $10M to less than $15M = 3.25%*** Sale price from $15M to less than $20M = 3.5%*** Sale price from $20M to less than $25M = 3.75%*** Sale price from $25M and up = 3.9%***
$ Origination Costs – Points 0 - 3% of loan $ Application, Credit Check, etc $500 and up $ Appraisal Varies* $ Bank Attorney $800 - $1,250 $ UCC-1 Filing $125 $
*Check with bank/mortgage broker for additional fees. New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584). These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
** Rate is 2.625% for multiple units purchased by single purchaser if deemed a “bulk sale.”
***This shall take effect July 1, 2019, and shall apply to conveyances occurring on or after such date other than conveyances which are made pursuant to binding written contracts entered into on or before April 1, 2019, provided that the date of execution of such contract is confirmed by independent evidence, such as the recording of the contract, payment of a deposit or other facts and circumstances as determined by the commissioner of taxation and finance.
MOR TG AGE A SSOCIA TED FEE S
