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#RealHumanRealEstate:

The September Edition

Dear clients + community,


The first 65 degree days, the first closings of the fall market for my buyers (two within a week after Labor Day!), and the first hot coffee of the season⁠ — September is here!


This month had a particularly sparky start because of the buyers in question — both couples are former renters and present friends, for whom I found their first rental apartments together, and now, their first owned homes. If that's not a journey of joy, I don't know what is. And I'm w

ishing you joyful journeys, too, as this new season begins. You know you can always me from the road if you need a guide and friend!


With love,


Michaela

Renter's Corner
Strap in, team! This one's a biggie. You may have heard buzz about the new rent regulations which were passed into law this summer. And you've likely seen the legendary dust-ups between the real estate lobby and tenants' rights groups, so here is one agent + human's candid (personal) perspective:


The new rent laws have important protective provisions that will keep more rent-regulated units stabilized and affordable, curb unlawful evictions, abolish blacklisting, and limit the costs of applying for an apartment to a reasonable max, with a $20 cap per applicant for application fee and background check. That's all great news for tenants. T

he cons: some provisions will surely have consequences that hurt the parties they're planned to protect. While limiting landlords' ability to collect more than one month's security sounds like an effective way to prevent owners from making unreasonable upfront demands, it leaves landlords without an easy offset to manage the risk of taking on tenants who lack in one of the major metrics of lease-worthiness (for instance, applicants who make less than 40x the rent, international students without US guarantors, or pet owners whose large animals could do damage). Those categories of applicants could have a harder time finding a place to rent under the new laws. Additionally, the laws limit rent increases after owners make major improvements — and the hope is that that will stifle abuses of power by big developers — but the caps are so low that it will be difficult for many smaller landlords to justify renovating at all, making a decline in the quality and livability of at least some apartment stock almost inevitable.


As is typical, neither party line has perfectly accounted for the implemented realities of well-meaning laws. So it's good to read up: City & State, The New York Times(here and here), and theNew YorkPosthave the most clear and thorough coverage I've seen.
Friends & Neighbors
Corbin Hill Food Project is one of my all-time favorite community organizations, with a big presence in Upper Manhattan. Their mission is simple: to supply fresh food to those who need it most. That means that not only are their farm shares affordable and far-reaching, especially in neighborhoods of New York where local, organic produce is scarce, but they make an effort to source produce that reflects the cuisines of the diverse cultures they serve; they bill on a weekly (rather than an annual) basis to allow budgetary flexibility; and they offer a Social Impact Share that allows individuals to self-select into a higher price tier that offsets discounted pricing for members paying by SNAP or EBT.
Out & About
Wild Film Night with Brother Mountain
TONIGHT, 9/12, 7PM, Arc'

teryx SoHo


New York WILD is a unique annual documentary film festival in New York City. Showcasing exploration and conservation, environmentalism and adventure, it brings all things wild to one of the most urban cities in the world. I'll be cheering on my dear friend since drama school Thomas Rowell of Brother Mountain, as he premieres his new film, The King's Keeper, and hope some of you will be able to take in this extraordinary story of compassion and care.

Sunday, 9/29, 11:30-6PM


Who knew that New York City had a Renaissance Faire? I did, and now I'm telling you. Located in Ft. Tryon Park at the tip of Manhattan (which boasts the Cloisters, an immaculate English garden, and sweeping panoramic views of the Palisades), the Medieval Festival is now in its 35th year. With music, dance, magic, and minstrels, as well as jugglers, jesters, and a climactic jousting match, it's a not-to-be-missed thrill (and great with kids, though they are totally optional).

Sunday, 9/29, 4PM, Subculture


If jazz trumps jousting in your book, here's a downtown alternative to the medieval fest: Owen Broder (in the yellow frames, likewise one of my arts school pals) leads the wonderfulCowboys & Frenchmen, an innovative double-sax-based take on the classic jazz quintet. This month is a special event— a live album recording at Subculture — and since I'll be in North Carolina celebrating my mom's 65th, you're all deputized to soak in sweet jazz in my stead.

This Month's Tip
With the mental sharpening and budget tightening that usually signals the end of summer vacation, you may be looking for ways to gracefully retrench your spending, or at the very least, profit when you pay. One of my clients recently introduced me toSeated, which rewards you in real dollars when you use the app to make reservations or walk-in to NYC restaurants. And I'm a longtime user of Honey, a simple Chrome extension that tests discount codes from around the web to see if your online purchase is eligible for any deals, and also gets you cash-back points at certain affiliates even if there's no discount code. Rewards for you and benefits for your community aren't the exclusive province of the app industry, either — fall is a great time to review the social and local impact of your spending. Kick off the thought process with community programs like Corbin Hill, above, and let me know where your brainstorms lead!
11 Clifton Place
Clinton Hill
Sale | 5 Bed | 3 Bath | $2,700,000
147 West 126th Street, Unit 2
Harlem
Rent | 3 Bed | 3 Bath | $5,295 No Fee

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Compass makes no representation or guarantee that Coming Soons are available in your region, or that its use will result in the benefits described herein.

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