A New Real Estate Reality: Advice from #1 Brown Harris Stevens Agent Lisa Lippman

The world of Manhattan real estate has shifted dramatically since the onset of Covid-19. NYC just surpassed San Francisco as having the most expensive rents in the country, while many buyers face lower prices resulting in daunting bidding wars. According to top Manhattan real estate expert Lisa Lippman, #1 agent at Brown Harris Stevens, pricing and timing are everything. With more than $1 billion in sales under her belt in the last three years, Lisa knows better than most how to navigate the new real estate reality.

 

“I think the biggest challenge facing Manhattan buyers is thinking about living in close quarters for the future,” said Lippman. “People think more about the space they’re living in – more about extra spaces for offices, exercise and outdoor areas. I’m not sure if we will ever stop thinking about those things again.”

 

While buyers may have some advantage in a softer Manhattan market, Lippman says there are certain elements sellers should accentuate to get better results. “When marketing their homes, sellers should highlight the pros of their apartment in terms of private spaces, extra spaces and closets that may turn into offices or mini gyms.”

 

Although NYC suffered an economic hit during the height of the pandemic, Lippman is optimistic about the future.  “I’m seeing many people come back to New York to buy pied-á-terres, but I’m also seeing a lot of people who had moved to the suburbs to raise their children come back as empty nesters.” New York’s newly revived culinary, arts and cultural scenes are also drawing newer and returning New Yorkers.

 

Lippman’s top piece of advice to her clients in any market – whether buying, selling, or renting – is to envision where they want to end up. “People often get caught up in emotional details but if they stay focused, they will make a deal where the property was meant to trade.”

 

What has surprised Ms. Lippman most of all about navigating the new normal is, according to her, not much of a surprise at all. “New York is resilient. The people rebound, the commerce rebounds and people have confidence, pride and sheer joy in this wonderful city.”

 

If you have questions about New York’s real estate market, contact Lisa at   www.bhsusa.com/lisalippman and view her exclusive listings.