Exploring New York City’s Residential Real Estate Market

Welcome back to Architecture 5 10 20! I’m your host, Guy Geier, Managing Partner of FXCollaborative Architects in New York. My guests for this podcast are pioneers and visionaries shaping the future of the built environment across various disciplines. Join me in exploring their remarkable journeys, discovering how they reach their current heights, and envisioning what lies ahead in the next 5, 10, and 20 years.

Join me for this episode of the show as I have an insightful conversation with Mary Barbrack, a seasoned real estate agent who is deeply involved in the vibrant New York City market! Listen as Mary shares her fascinating journey into real estate after a successful career in product marketing!

Mary shares some great insights into the latest market trends, from how the balance between buyers and sellers is shifting to the impact of seasonal patterns on transactions. We discuss how buyer preferences are evolving, with more people being open to different neighborhoods and focusing on things like space, layout, and unique features instead of just sticking to one specific area. Mary also talks about the renewed interest in spots like Brooklyn Heights and the Lower East Side, plus the ongoing demand for high-end properties in Manhattan.

We also talk about how COVID-19 has changed things like the return of public open houses and how buyer attitudes are shifting as interest rates fluctuate. With security and privacy becoming bigger priorities, Mary shows us how new developments are stepping up to meet these changing needs.

Please tune in for an engaging conversation filled with expert advice and behind-the-scenes knowledge!

Time stamps:
[01:32] - Mary shares how she pursued a real estate career after working in beauty and marketing for over 12 years.
[04:07] - Mary initially enjoyed working with buyers more to learn the market, but it's now balanced.
[06:47] - The NYC real estate market has returned to a seasonal rhythm post-pandemic.
[08:12] - Buyers are moving to the Upper East Side for schools, but downtown still remains popular.
[09:48] - Neighborhoods like the Upper West Side have evolved, becoming more desirable over time.
[11:26]  - Mary discusses how Brooklyn Heights and West Village are desirable for their charm, while other neighborhoods offer value.
[14:30] - NYC real estate surged post-pandemic but slowed due to stock market decline and rising interest rates.
[17:47] - Open houses are back to public post-pandemic, after previously requiring appointments and forms.
[20:02] - Mary discusses how security and privacy are prioritized in new developments, with buyers preferring move-in ready homes.
[23:38] - Brooklyn developments may finish buildings in phases, while Manhattan typically finishes before sales.
[26:42] - Mary explains how walkability makes NYC a healthy and attractive place, especially for retirees and second-home buyers.
[29:20] - Environmental considerations in real estate are becoming more important for future buyers.

Links / Resources:
Guy Geier
Instagram | Twitter
Mary Barbrack
LinkedIn
[email protected]