In this episode of Talking Manhattan, Noah and John welcome Lisa Lippman, the top broker at Brown Harris Stevens for several years running, who shares her insights on the current Manhattan real estate market. Lisa describes the market as insecure, with high interest rates affecting financing-dependent buyers, while wealthy buyers face confusion about property values. She discusses the divide between coops and new devs, the challenges of renovation, and, in a masterclass of exposition, the importance of pricing correctly. As always, we end with advice, and Lisa breaks down how valuable experience, market knowledge, and persistence are to new agents. There's gold in these hills!

Highlights:

01:00 - Current state of the market

02:00 - Impact of high interest rates on buyers

03:05 - Cash-rich buyers and generational wealth

04:25 - Bifurcated market: Coops vs. new developments

07:45 - Price trends since 2017

11:55 - Challenges with renovation costs

13:02 - Importance of accurate pricing

14:20 - Efficient markets and the importance of proper pricing

22:45 - Finding good value for buyers in the current market

28:05 - Advice for new real estate agents

30:00 - Final thoughts and takeaways

Lisa's Page at BHS:

https://www.bhsusa.com/real-estate-agent/lisa-lippman

Connect with Lisa on LinkedIn:

https://www.linkedin.com/in/lisa-lippman-a25915

Follow Lisa on Instagram:

https://www.instagram.com/lisaklippman/

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Track the New York City real estate market with real-time data and charts:

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Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/