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Weekly Manhattan & Brooklyn Market Update: 11/4
Rihards Gederts - Elegran | Forbes Global Properties Momentum Slows Amid Rising Rates and Election Uncertainty The Manhattan and Brooklyn real estate markets are facing headwinds as mortgage rates have again surpassed 7%, jumping nearly 80 basis points since mid-September. Coupled with the uncertainty surrounding the upcoming election, market activity has softened, with some buyers and sellers opting to pause their plans. In Manhattan, inventory decreased slightly, with 30% fewer new listings and 19% fewer signed contracts than the previous week. Brooklyn also experienced a downturn, with supply shrinking by over 1%, new listings dropping 30%, and signed contracts declining 14% week-over-week. Consumer sentiment cooled this week, as evidenced by the Elegran | Forbes Global Properties Consumer Sentiment Index, which fell from +48 to +20. For the week ahead, expectations remain cautious, with the election expected to dominate public focus. Nevertheless, there is room for optimism: buyer activity will likely rebound as the political landscape settles and interest rates decline. However, with supply projected to remain tight through the winter, the early spring market may become more competitive, driven by a rise in demand outpacing the replenishment of inventory. Manhattan Supply Manhattan saw a slight decrease in supply this week, with 6,846 units currently available for sale. Only 241 new listings were introduced, causing overall inventory to decrease by 0.2% compared to last week. New listings also sharply declined, dropping 30% from the prior week and 32% year-over-year. Data courtesy of UrbanDigs Brooklyn Supply Brooklyn’s supply also contracted this week, with 3,383 units currently available for sale, marking a 1.3% decrease from the previous week. Only 121 new listings came onto the market, reflecting a 30% drop from last week and an even steeper 49% decline compared to the same period last year. Data courtesy of UrbanDigs Manhattan Pending Sales: Pending sales rose by 1.8%, reaching 2,810 units, continuing the upward momentum of the fall season. Brooklyn Pending Sales: Pending sales increased by 1.9% to 1,872 units. Manhattan Consumer Sentiment Contract activity in Manhattan slowed this week, with only 192 contracts signed—a nearly 20% decline from the previous week. Despite this drop, the number of contracts signed still represents a 28% increase compared to the same week last year. The Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index declined from +21 to -1 this week. Brooklyn Consumer Sentiment Brooklyn saw a slowdown in contract activity this week, with only 136 contracts signed, marking a 14% decrease from the previous week. However, this figure is still 11% higher than the same week last year. The Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index fell from +105 to 77%. New Development Insights Marketproof reported that 54 new development contracts were signed in 41 buildings this week. The following buildings were the top-selling new developments of the week: - The Huron (Greenpoint) signed 5 contracts - One Wall Street (Financial District) and Monogram New York (Turtle Bay) each signed 3 contracts. If you would like to chat about the most recent market activity, feel free to contact us at info@elegran.com or connect with one of our Advisors. About Us Welcome to Elegran | Forbes Global Properties, where our mission is to revolutionize the world of real estate. Founded in 2008 by Michael Rossi, our journey began with an unwavering drive for motivation, innovation, and a genuine care for our clients. As an independently owned brokerage, we pride ourselves on our elite team of "advisors," offering a personalized touch that goes above and beyond the traditional real estate experience. Armed with robust data insights, we empower our clients to make informed decisions that lead to success. Distinguished as the exclusive member of the invitation-only Forbes Global Properties network in NYC, Elegran proudly stands at the forefront of excellence. This exclusive partnership broadens our horizons, enabling us to connect buyers, sellers, and investors with extraordinary luxury properties not only in New York City but across the globe. Our passion lies in turning your real estate dreams into reality, and we are committed to providing exceptional service at every step of the journey. Are you ready to experience the Elegran difference? Dive into the possibilities at www.elegran.com and embark on an unforgettable real estate adventure with us.
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Elegran Manhattan Market Update: November 2024
Rihards Gederts - Elegran | Forbes Global Properties Overall Manhattan Market Update: November 2024 Market Heats Up in Manhattan: Increased Demand Offers Competitive Yet Compelling Entry for Buyers In October 2024, Manhattan’s real estate market showed signs of resurgence. The month marked a significant turning point, with contract activity soaring nearly 46% from September, as 999 contracts were signed. This represented a substantial 26% year-over-year increase compared to October 2023 and was the first month since May 2023 that contract activity surpassed the seasonal average and did so by nearly 11%. This growth underscored the strong demand for residential apartments in Manhattan and points to a healthy market outlook. Adding to the appeal, Manhattan presents a compelling entry point for buyers. Since the start of the pandemic, the market has seen only a modest 3% price appreciation. In contrast, the national average was a 51% increase during the same period. Manhattan tends to move countercyclically to the national market, which, in conjunction with current data, suggests that prices are poised for upward pressure. According to a recent UBS report, other markets, such as Miami—which experienced a staggering 83% appreciation since the start of the pandemic—are now in bubble-risk territory and are starting to see some downward pressure on prices. This positions Manhattan as a more stable and potentially lucrative option for buyers looking to invest in real estate. The Elegran | Forbes Global Properties Manhattan Leverage Index indicates the market is in relative equilibrium, with a slight advantage for sellers in October. Inventory levels increased slightly during the month, reaching 6,846 units—a modest 0.1% increase from September but a 6.6% decrease compared to last year. This has put buyers in a more competitive environment, with demand far outpacing supply. Buyers are facing lower inventory levels than the previous year and increased competition that has reduced negotiability and triggered bidding wars for well-positioned properties. Conversely, sellers benefit from the heightened demand but must remain strategic with pricing and marketing to attract buyers quickly. The rental market also experienced shifts, with the median rent declining by 1.1% to $4,200 and a 3.4% year-over-year drop, marking the second consecutive month of reductions. The rent-versus-buy equation began to tilt in favor of purchasing, prompting more renters to transition into buyers. This shift is expected to intensify competition in the sales market while easing pressure on rentals. Elegran | Forbes Global Properties Manhattan Leverage Index The Elegran | Forbes Global Properties Manhattan Leverage Index² is powered by four indicators: supply, demand, median price per square foot (PPSF), and median listing discount. It informs us whether the current is a buyer’s or a seller’s market, i.e., which party possesses transactional leverage. Looking at the graph below, this is indicated by the direction of the curve, where: - An increasing trend from left to right indicates a seller’s market - A decreasing trend from left to right indicates a buyer’s market Our indicator also informs us regarding the relative strength of that leverage, indicated by the slope of the curve, where: - A gentle slope indicates a weak advantage by one party over the other - A sharp slope indicates a strong advantage It’s not the exact numbers that matter most—it’s the direction and slope of the trend. Buyers and sellers have been in a stalemate within a balanced market for over eighteen months. This summer saw a minor shift favoring sellers, but buyers regained a slight advantage by September. In October, the pendulum has swung back again, leaning subtly toward sellers. Manhattan Supply As is typical for this time of year, Manhattan’s housing inventory increased slightly in October, reaching 6,846 units. This marks a slight 0.1% rise from September but reflects a 6.6% drop compared to last year. The increase in new listings coincides with the recent Fed rate cut, sparking renewed buyer interest. Although inventory remains tighter year-over-year, this balanced market dynamic will likely continue in the near term. What this means for: - BUYERS: Growing buyer demand has swiftly absorbed the seasonal inventory increase. This fall, inventory levels are lower than they were last year. With limited supply and more competition among buyers, the market feels more intense, leading to reduced negotiability and more frequent bidding wars for well-priced, well-positioned properties. However, incorrectly priced or poorly positioned properties may linger on the market and could present more room for negotiation. - SELLERS: Despite the competitive market, the rise in inventory means sellers should be strategic with pricing and marketing to attract buyers efficiently. With more options available, buyers may feel emboldened to submit lower offers, especially for properties that have been listed for an extended period. Overall, Manhattan’s housing market still leans in favor of sellers. Buyer demand is expected to build through the winter and into next spring, offering sellers the chance to plan their market timing. Supply will likely remain tight over the holidays, as fewer sellers typically list their homes, with a gradual increase as spring approaches. Manhattan Demand October 2024 saw a notable surge in Manhattan’s residential real estate market, with contract activity skyrocketing nearly 46% from September as 999 contracts were signed, which marks an impressive 26% year-over-year increase compared to October 2023. For the first time since May 2023, monthly contract activity exceeded the seasonal average, a sign that the local market is rebounding from the extended low-volume period of the past year and a half. Over the past three months, this upward trend has gained momentum, fueled by the Fed’s rate cut and a collective buyer sentiment shift, recognizing that interest rates have likely peaked for this cycle. Contract volume this month surpassed the seasonal average by almost 11%, underscoring robust demand and a positive market outlook. What this means for: - BUYERS: The surge in contracts highlights growing buyer interest, suggesting more competition and the potential for bidding wars and price increases. Buyers need to be decisive and prepared to act quickly to secure desirable properties. - SELLERS: The uptick in contract activity is welcome news for sellers, signaling strong demand and increasing liquidity in the market. With competition for limited inventory, sellers may see multiple offers and higher prices for their properties. Overall, the sharp rise in contracts reflects a strong Manhattan real estate market, currently tilting in favor of sellers. Buyers should brace for a competitive landscape and be ready to move swiftly. However, it remains to be seen if contract volumes will continue to beat seasonal averages through November and December, especially given the 80-basis-point increase in average mortgage rates since mid-September and the uncertainty surrounding the election. Once election-related concerns subside and interest rates resume their gradual decline, buyer activity is expected to pick up even more substantially. Manhattan Median PPSF In October 2024, the median price per square foot (PPSF) for residential apartments in Manhattan dipped slightly to $1,398, marking a 0.6% decrease from the previous month. While this figure is 2.6% higher year-over-year, Manhattan is poised to break out above the current price ceiling. On average, prices in Manhattan are only 3% higher than at the start of 2017—compared to a staggering 74% increase in the national average over the same timeframe. What this means for: - BUYERS: The slight decrease in median PPSF is largely a lagging indicator based on contracts signed during the summer before the Fed’s interest rate cut. Current demand for Manhattan real estate suggests that prices are under upward pressure. Manhattan presents a rare opportunity to purchase assets that have remained virtually unchanged in value since 2017. No other metro area in the country has seen so little appreciation. Additionally, Manhattan tends to move countercyclically compared to national trends and is not at bubble risk, creating a compelling entry point for buyers. - SELLERS: The recent price decline is primarily due to contracts signed earlier this year, and the coming months should begin to reflect upward movement. While strong demand is expected to support property values, accurate pricing is crucial to attract buyers in a competitive market. Buyers are savvy, and overpricing may deter potential interest. Overall, the Manhattan residential market remains strong, and both buyers and sellers should carefully consider the current market conditions to make informed decisions. With buyer demand intensifying and prices poised for growth, now is an opportune time for strategic action on both sides of the market. Manhattan Median Listing Discount In October 2024, the median listing discount for Manhattan homes rose to 4.5%, up from 4.3% in September. This modest increase is primarily attributed to seasonal factors. It reflects contracts signed during the summer months, which typically involve a higher percentage of homes on the market longer and are, therefore, more negotiable. However, on a year-over-year basis, the change was negligible—a mere 0.5% decline—pointing to a firming of the price floor and setting the stage for price increases in the mid-term. What this means for: - BUYERS: May find opportunities to secure better deals, especially on homes that have been on the market for extended periods. - SELLERS: To avoid deeper discounts, sellers should aim to properly position their homes for sale in terms of price and appearance. Well-staged homes can attract buyers and potentially command higher offers. Overall, while the slight increase in the median listing discount may offer some advantages for buyers, sellers should still be able to achieve favorable outcomes with proper market knowledge and strategic pricing. Discounts are expected to decline moving through the winter and into the spring as competition further intensifies. Rental Remarks In September, the median rent declined by 1.1% to $4,200 compared to the previous month and fell 3.4% year-over-year, marking the second consecutive month of reductions. Nearly one-fifth of all rentals experienced bidding wars.³ With interest rates declining, the rent-versus-buy equation is beginning to tilt in favor of buying. As a result, more renters may transition into buyers, increasing demand in the sales market while easing pressure on the rental market. The rental market has peaked, and that peak is not expected to be surpassed next year. Rather, renters may experience some relief next spring and summer as long-time renters, previously deterred by high interest rates, leave the rental market to purchase homes. This shift from renting to buying can intensify competition in the sales market while reducing competition in what has been a red-hot rental market for the last two years. Regarding mortgage rates, the 30-Year Fixed Rate JUMBO Mortgage Index is trending at 6.8%⁴, and the average JUMBO APR is 6.7%⁵. While this rate trended lower in late August and into mid-September, it has increased by 80 basis points since hitting a low in mid-September. As uncertainty subsides, rates should resume their gradual decline near the end of 2024, hopefully providing relief for buyers into the spring. Investor Insights The total return is driven by net rental income and capital appreciation. For all-cash investors, Manhattan cap rates are currently 3 - 3.4%. Unfortunately, there is no net income potential for those investors using a large percentage of leverage, with the average JUMBO mortgage APR at 6.7%. Current demand for Manhattan real estate suggests that prices are under upward pressure. Importantly, though, Manhattan presents a rare opportunity to purchase assets that have remained virtually unchanged in value since 2017 (as indicated in the chart below). No other metro area in the country has seen so little appreciation. Additionally, Manhattan tends to move countercyclically compared to national trends and is not at bubble risk, creating a compelling entry point for buyers. Timing and a strong USD may afford foreign investors, depending on their native currency, the opportunity to realize significant capital gains upon selling their assets. References 1. Data courtesy of UrbanDigs 2. According to the Elegran | Forbes Global Properties Brooklyn Leverage Index 3. Data courtesy of Miller Samuel, Inc. 4. Data courtesy of Federal Reserve Bank of St. Louis 5. JUMBO mortgage rate APR data courtesy of Bank of America, Chase, and Wells Fargo If you would like to chat about the most recent market activity, feel free to contact us at info@elegran.com or connect with one of our Advisors. About Us Welcome to Elegran | Forbes Global Properties, where our mission is to revolutionize the world of real estate. Founded in 2008 by Michael Rossi, our journey began with an unwavering drive for motivation, innovation, and a genuine care for our clients. As an independently owned brokerage, we pride ourselves on our elite team of "advisors," offering a personalized touch that goes above and beyond the traditional real estate experience. Armed with robust data insights, we empower our clients to make informed decisions that lead to success. Distinguished as the exclusive member of the invitation-only Forbes Global Properties network in NYC, Elegran proudly stands at the forefront of excellence. This exclusive partnership broadens our horizons, enabling us to connect buyers, sellers, and investors with extraordinary luxury properties not only in New York City but across the globe. Our passion lies in turning your real estate dreams into reality, and we are committed to providing exceptional service at every step of the journey. Are you ready to experience the Elegran difference? Dive into the possibilities at www.elegran.com and embark on an unforgettable real estate adventure with us.
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Elegran Brooklyn Market Update: November 2024
Rihards Gederts - Elegran | Forbes Global Properties Overall Brooklyn Market Update: November 2024 Brooklyn Market Gains Momentum: Seller Advantage Returns as Demand Surges October 2024 saw significant activity in Brooklyn’s real estate market, with 666 contracts signed—a staggering 49% increase from September and a 34% year-over-year rise compared to October 2023. This month marked only the third time in the past 18 months that contract volume exceeded the seasonal average, reflecting heightened demand and a market gaining momentum. The recent surge underscores robust interest in Brooklyn properties and signals a healthy market as we head into the colder months. The Elegran | Forbes Global Properties Brooklyn Leverage Index indicated a shift in favor of sellers this month, following a brief buyer’s market over the summer, driven by October’s rise in demand. Unlike typical seasonal trends, Brooklyn’s housing inventory declined in October, falling to 3,383 listings—a 3.3% month-over-month drop. This reduction was fueled by increased contract activity, pushing the market closer to equilibrium. Year-over-year inventory growth remained modest at 3% as buyers swiftly absorbed new-to-market listings. With contract activity outpacing supply increases, Brooklyn is now a more competitive environment, and well-priced, strategically marketed properties stand to benefit the most. Price trends have shown mixed signals. The median price per square foot (PPSF) fell to $895, a 7.3% decrease from September and a 2.7% decline year-over-year. This drop is linked to contracts signed during the summer when higher interest rates and buyer fatigue led to longer time on the market and larger discounts. However, as demand has picked up, this downward pressure is expected to reverse, with annual appreciation becoming more evident in the months ahead. Sellers should note that accurate pricing and strategic presentation remain critical to capturing buyer interest in a competitive market. The rental market also experienced shifts. The median rental price in September held steady at $3,650 but marked a 1.4% decline year-over-year. Bidding wars were still prevalent, accounting for over one in four lease signings. With interest rates declining, the rent-versus-buy equation is tipping in favor of purchasing, prompting more renters to consider buying. This trend is expected to drive further demand in the sales market while easing pressure on the rental market moving into the spring season. For investors, Brooklyn offers both challenges and opportunities. The current cap rate for all-cash investors ranges from 3.0% to 3.4%, making net income generation difficult for those relying heavily on leverage given the 6.7% average JUMBO mortgage APR. Yet, Brooklyn’s fundamentals remain strong, especially compared to overheated markets. The borough’s slower price appreciation relative to the national average points to room for future growth, particularly as interest rates decline and buyer activity accelerates. Investors, especially those considering all-cash purchases or foreign investment opportunities, may find compelling long-term value in Brooklyn as we move toward the end of 2024. Elegran | Forbes Global Properties Brooklyn Leverage Index The Elegran | Forbes Global Properties Brooklyn Leverage Index² is powered by four indicators: supply, demand, median price per square foot (PPSF), and median listing discount. It informs us whether the current is a buyer’s or a seller’s market, i.e., which party possesses transactional leverage. Looking at the graph below, this is indicated by the direction of the curve, where: - An increasing trend from left to right indicates a seller’s market - A decreasing trend from left to right indicates a buyer’s market Our indicator also informs us regarding the relative strength of that leverage, indicated by the slope of the curve, where: - A gentle slope indicates a weak advantage by one party over the other - A sharp slope indicates a strong advantage It’s not the exact numbers that matter most—it’s the direction and slope of the trend. After a brief seller’s market this spring, Brooklyn’s real estate market shifted in favor of buyers over the summer. However, this fall has seen momentum swing back toward sellers, driven by a surge in contract activity. The Fed’s rate cut has brought buyers off the sidelines, intensifying competition for well-positioned units in Brooklyn. Brooklyn Supply Contrary to the typical seasonal trend of rising listings, Brooklyn’s housing inventory declined in October, reaching 3,383 units. This 3.3% month-over-month decrease was driven by a surge in contract activity, shifting the market toward a more balanced equilibrium. Year-over-year inventory growth remained modest at just 3%. What does this mean for: - BUYERS: Growing buyer demand has quickly absorbed the seasonal inventory boost. Bidding wars are still common for well-priced, well-positioned properties, while homes that are incorrectly priced or poorly positioned may linger, offering more room for negotiation. - SELLERS: With less competition from other sellers, properties may command higher prices. Overall, Brooklyn’s housing market favors sellers. Buyer demand is anticipated to strengthen through the winter and into spring, allowing sellers to time their listings strategically. Supply is expected to stay tight over the holiday season, gradually increasing as spring approaches. Brooklyn Demand October typically brings an uptick in new listings and buyer activity; this year was no exception. The month saw a significant surge in signed contracts, with 666 contracts—a 49% increase from September and an impressive 34% rise year-over-year from October 2023. While most months this year have lagged behind last year’s activity, October outpaced 2023 levels. It also marked the first time in five months that monthly contract volume exceeded the seasonal average and only the third instance in the past 18 months. What does this mean for: - BUYERS The surge in contracts highlights growing buyer interest, indicating more competition, the potential for bidding wars, and upward pressure on prices. Buyers must be decisive and prepared to act quickly to secure desirable properties. - SELLERS: The increase in contract activity is promising for sellers, signaling strong demand and greater market liquidity. With competition for limited inventory, sellers may benefit from multiple offers and higher prices for their properties. Overall, the sharp rise in contracts underscores a robust Brooklyn real estate market that slightly favors sellers. Buyers should prepare for a highly competitive environment and be ready to move swiftly. However, it remains uncertain if contract volumes will continue to outpace seasonal averages through November and December, especially given the 80-basis-point rise in average mortgage rates since mid-September and the ongoing election-related uncertainty. Once these concerns diminish and interest rates resume their gradual decline, buyer activity is expected to increase even further. Brooklyn Median PPSF In October 2024, the median price per square foot (PPSF) for residential homes in Brooklyn was $895, reflecting a 7.3% decrease from September and a 2.7% decline year-over-year. Much of this decrease can be attributed to contracts signed over the summer that closed in September. These deals were made during a quieter period for Brooklyn real estate when interest rates were higher, buyer fatigue was evident, and a larger share of contracts involved properties on the market longer, trading at lower prices and more significant discounts. As the market has accelerated, expect the MoM trend to reverse, with annual appreciation continuing. What does this mean for: - BUYERS: The slight decline in median PPSF is a lagging indicator tied to contracts signed before the Fed’s interest rate cut. Current demand for Brooklyn real estate suggests that prices are under upward pressure. - SELLERS: The recent price dip reflects earlier market conditions, and upcoming months should start to show price gains. While strong demand is expected to bolster property values, accurate pricing remains crucial to attract interest. Today’s buyers are savvy, and overpricing may turn them away in a competitive market. Overall, the current market dynamics present opportunities for both parties. Sellers can benefit from heightened demand, while buyers, supported by lower interest rates, may find increased purchasing power. However, buyers should be prepared to act quickly and face competition as demand rises. Brooklyn Median Listing Discount In October 2024, the median listing discount for residential homes in Brooklyn rose to 3.5%, up from 3.1% in September and a 0.3% increase from October 2023. This modest uptick is mainly due to seasonal factors, reflecting contracts signed during the summer, which often involve homes that have been on the market longer and are, therefore, more negotiable. The slight annual increase is also linked to higher inventory levels compared to last year, but this trend should be short-lived as the recent surge in contract activity is outpacing any rise in supply. What does this mean for: - BUYERS: May find opportunities to secure better deals, especially on homes that have been on the market for extended periods. - SELLERS: To avoid deeper discounts, it’s crucial to properly position your home for sale with strategic pricing and appealing staging. Well-presented homes can attract more interest and potentially fetch higher offers. Overall, while the slight rise in the median listing discount may provide some leverage for buyers, sellers can still achieve strong outcomes with the right market approach. As competition intensifies through the winter and into the spring, discounts are expected to decline, making strategic planning even more important. Rental Remarks In September, the median rental price held steady at $3,650 from August 2024 but saw a 1.4% year-over-year decline. Bidding wars were still prevalent, accounting for more than one in four lease signings³. With declining interest rates, the rent-versus-buy equation is beginning to shift in favor of buying. This trend may prompt more renters to transition into buyers, boosting demand in the sales market while easing pressure on the rental market. Mortgage Rates: The 30-Year Fixed Rate JUMBO Mortgage Index is at 6.8%⁴, with an average JUMBO APR of 6.7%⁵. Although rates trended lower in late August and early September, they have risen by 80 basis points from their mid-September low. As market uncertainty wanes, mortgage rates are expected to gradually decline by the end of 2024, offering potential relief for buyers heading into the spring. Investor Insights Total returns in Brooklyn are driven by a combination of net rental income and capital appreciation. Current cap rates range from approximately 3.0% to 3.4% for all-cash investors. However, given the average JUMBO mortgage APR of 6.7%, net income potential remains elusive for those heavily relying on leverage. The chart below illustrates that Brooklyn has experienced a gradual upward price trend. While appreciation in the borough has outpaced Manhattan, it has lagged behind the national average. This presents a strategic opportunity: while other markets are at risk of overheating and some are entering bubble territory, Brooklyn’s fundamentals indicate room for additional appreciation, especially as interest rates decline. Future capital appreciation will be the key driver of returns, offering significant potential upside. For foreign investors, timing is crucial. A strong USD relative to their native currency may enhance the opportunity to realize meaningful capital gains when selling assets in Brooklyn. As interest rates continue to soften, the borough’s real estate market remains primed for long-term value growth. References 1. Data courtesy of UrbanDigs 2. According to the Elegran | Forbes Global Properties Brooklyn Leverage Index 3. Data courtesy of Miller Samuel, Inc. 4. Data courtesy of Federal Reserve Bank of St. Louis 5. JUMBO mortgage rate APR data courtesy of Bank of America, Chase, and Wells Fargo. If you would like to chat about the most recent market activity, feel free to contact us at info@elegran.com or connect with one of our Advisors. About Us Welcome to Elegran | Forbes Global Properties, where our mission is to revolutionize the world of real estate. Founded in 2008 by Michael Rossi, our journey began with an unwavering drive for motivation, innovation, and a genuine care for our clients. As an independently owned brokerage, we pride ourselves on our elite team of "advisors," offering a personalized touch that goes above and beyond the traditional real estate experience. Armed with robust data insights, we empower our clients to make informed decisions that lead to success. Distinguished as the exclusive member of the invitation-only Forbes Global Properties network in NYC, Elegran proudly stands at the forefront of excellence. This exclusive partnership broadens our horizons, enabling us to connect buyers, sellers, and investors with extraordinary luxury properties not only in New York City but across the globe. Our passion lies in turning your real estate dreams into reality, and we are committed to providing exceptional service at every step of the journey. Are you ready to experience the Elegran difference? Dive into the possibilities at www.elegran.com and embark on an unforgettable real estate adventure with us.
Read more
