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The Price of Being a Millennial in NYC

It’s a well-known fact that the cost of living in New York City is one of the highests in the nation. Over the past decade, the cost of living and rent prices have gone up significantly in the city. Although a costly place to live, NYC offers an abundance of career opportunities and metropolitan advantages–which is most appealing to millennials.

Creating a life for themselves in NYC has millennials spending much more than what they can afford. A recent report by StreetEasy, which survey 1,000 renters in NYC, confirms that millennials are much more likely to live outside of their means when it comes to housing in the city. The housing market in NYC is expensive and according to Grant Long, “…despite facing rising housing costs and budgeting constraints, aspirations of owning a home remain high in the city, particularly among millennials.”

All five boroughs–Manhattan, Bronx, Brooklyn, Queens and Staten Island–reported that housing in the city is more than often unaffordable. According to the stats collected by StreetEasy, each generation approaches the situation differently. The New York Business Journal states, “45% [of millennials] say they chose a more expensive home than they’d planned, compared to 30% of ‘Generation Xers’ — those born from the early 1960s to late 1970s — and 19% of baby boomers.” The majority of the older generation seem to know how to realistically budget their cost of living more effectively than millennials.

Although the housing prices of the city continue to rise, about 34% of millennials are hoping to purchase a home sooner rather than later. According to the report, the majority of renters living in NYC find housing to be very unaffordable. Perhaps owning a home is more appealing since 39% of homeowners find housing more affordable, having more freedom to buy and sell. But even owning a home does not shield residents against the struggle of rising housing prices in the city.

Other stats from StreetEasy report that “New Yorkers pay 1.3 times more for housing than average Americans”. In order to stay in the city and find decent housing, about one third of those surveyed reported spending more than their initial budget. To no surprise, 46% say that housing in the city is unaffordable–which one third say the high cost of living is their biggest reason to move.

Even with the cost of living so high, generation after generation come to New York City, hoping to capture the life and opportunities only the five boroughs can offer–no matter what the price.

Affordable NYC Housing – Summer 2018

Affordable housing in the wonderful city of New York isn’t the easiest to find, but have no fear, there is a light at the end of this tunnel. Recently, New York’s Curbed posted an article on some of the most affordable locations within our metropolitan. Spots are filling up quickly though so apply right away!

Manhattan West
This megabuilding is a 62-story tower located in the western part of Manhattan. There are a few floor plans to choose from including one-bedrooms, two-bedrooms, and just a couple of three-bedrooms. Rent can range from $600+/month to $2,500+/month. They have an application deadline of July 10 so act quickly.

222 East 4th St
Located only a few blocks from Grand Central is a 42-story rental. The deadline to apply for this location is July 2. It’s finishing up its development by BLDG Management with the design of Handel Architects. At its completion, it will be home to 300+ units. Rent is estimated to be between $600+/month and $2,700+/month for a mix of studios, one-bedroom, and two-bedroom units.

Tremont Renaissance
This 12-story development is located at 4215 Park Ave in the Bronx Tremont neighborhood. The units throughout this building have a rent between $800+/month and $1,900+/month. Great for singles and also families.

Hunters Landing
59 affordable units are offered at Hunters Landing, just a few blocks from the train stop on Hunters Point Avenue. These units, ranging from a studio to a three-bedroom, are offered exclusively to middle-income New Yorkers.

1 Flatbush Ave
The Brooklyn rental, located on Flatbush Ave and Fulton St, is a 19-story building that has just opened a lottery for their 37 available units. Although a majority of the rentals are studios, there are a few one- and two-bedroom units as well. Rent rates are from $900+/month and $1,100+/month.

The Maya
Possibly one of the best apartment complexes in New York City is the Maya, located in the Jamaica region of Queens. Each of the units, including all from studio to three-bedroom, feature an outdoor space, indoor/outdoor parking, a fitness center, and a rooftop terrace. Rents are in the range of $1,400+/month and $2,200+/month.

New York City’s Subway and Its Interesting Past

New York City's Subway and Its Interesting Past _ Kevin BrunnockThe New York City subway system is a mysterious beast, full of mystery, secrets, and delights.

The people using it seem to know it as well, looking into the dark tunnels for their next train, some no doubt wondering about what lies inside, if the stories are true, never giving it too much thought. However, plenty of stories do exist that back up the thoughts.

Subway mosaics with fancy lettering exist throughout various stations, the City College and Columbia University stop even having a rivalry, pulling out all the stops to make the stops pretty, according to Philip Ashforth Coppola’s book on the subway. The beaver at the Astor Place station as a tribute to John Jacob Astor… which is nothing compared to the rumors it is reportedly haunted. Other places that could be haunted? Stations built and never used, such as Williamsburg’s South 4th Street station.

Aside from details and flourishes that people pass by daily, the subway has plenty of history to look back on. From the graffiti-laden subway cars that were once painted all white to the Nostalgia Train Rides implemented by the MTA every year. From the almost interminable construction that goes on, with the longest operation being the 2nd Avenue line, technically being worked on since 1920.
The irony of this rich history is that new subway lines have hardly been developed since 1940. The high cost of construction has skyrocketed since the 1980’s according to research, compounding the problems present with the subway budget crisis on top of the difficulty with labor relations. The thought that so much exists and was put into place in a relatively short amount of time is wondrous when considering there are 469 subway stops in operation.

As far as the world knows, the subways are relatively safe now, a far cry from the vigilante groups who used to roam the subways to protect riders, the most famous one being the Guardian Angels. Considering the 4 train was called the Mugger’s Express one bit, the strategies implemented seem to have work, therefore don’t be afraid, get on the trains and see for yourself, as commuters gloss over a multitude of historical artifacts every day while riding daily. Get out there and see for yourself!

CRE Must Reads to Get Ahead and Stay Ahead

CRE Must Reads to Get Ahead and Stay There _ Kevin BrunnockThese hand-picked seven reads will help any CRE professional best maximize their time and make the most out of any growing business:

7L: The Seven Levels of Communication: Go From Relationships to Referrals by Michael Maher: By prioritizing relationship building, Maher offers tangible tips on how to cultivate communications skills to grow your network and get you ahead.

The Due Diligence Handbook For Commercial Real Estate by Brian Hennessey: This invaluable resource will be a handbook you will want to keep on hand for years to come because of its practical checklists and expert tips designed to create value-add in any property.

The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! by Gary Keller: Although this book was originally written for brokers, the content transcends to any career in real estate by offering useful tips on how to generate leads and pump up sales.

Nine Proven Strategies To Make 2018’s Peak Rental Season Vacancy-Free (published in Forbes): With the busy summer rental season approaching, this quick read will offer a myriad of tips on how to maximize your business potential during the holy grail months for commercial real estate brokers.

Three Essential Strategies For Smart Student Housing Development (published in Forbes): The hot housing market has spilled over into the student sector. This timely and informative article will bring you up to date on how to best capitalize on this relatively new real estate sector before it’s too late.

The Conversion Code: Capture Internet Leads, Create Quality Appointments, Close More Sales by Chris Smith: In this day and age, digital is king. It is imperative that CRE professionals possess the skills to effectively market their properties in a variety of online avenues. This book will help you get the job done and stay one step ahead of your competitors.

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss: It is too easy to get sucked into the trap of living to work and not working to live. Learn how to best manage your time so that you can maximize your efforts to achieve the greatest success in the shortest amount of time.

5 Essential Books for Commercial Real Estate Professionals

5 ESSENTIAL BOOKS FOR COMMERCIAL REAL ESTATE PROFESSIONALS _ KEVIN BRUNNOCKThe best real estate professionals are always looking to learn. Whether it’s making the most of new technology or being as productive as possible, there’s always room for improvement. The problem is, there are hundreds of books, podcasts, and seminars to choose from. In this post, real estate professionals will discover the 5 most important books to advance their career.

1) The Millionaire Real Estate Agent

This book, written by Gary Keller, is widely considered the best book for real estate professionals in existence.

Real estate professionals will be given clear, actionable steps they can use to improve right away.

The book is most helpful for brokers, but it doesn’t focus on just one specialization – so almost anyone involved in real estate can benefit from it.

2) Real Estate Finance and Investments

It’s rare that a book can help both the beginner and the experienced professional – but William Brueggeman and Jeffrey Fisher accomplished just that when they put together this text.

This book not only teaches readers how to invest in real estate, but it also has a lot of complex strategies and formulas. This makes it an excellent reference guide to always have handy.

3) Raving Fans!

This book is all about providing the best customer service in order to close deals as a real estate agent.

Readers will discover how to clarify their vision so that customers want to do business with them. Then, the book goes a step further and shows the reader how to make those new customers lifelong fans.

4) The 4-Hour Work Week

If someone is looking to improve their productivity as a real estate professional, this book should be at the top of their list.

They’ll learn every possible way to get the most out of their time, whether it’s outsourcing administrative tasks or attracting new customers.

5) Principles of Commercial Real Estate Underwriting

This classic text is an excellent reference material for someone who needs a refresher on certain aspects of real estate.

With this book handy, the reader can underwrite commercial real estate assets with ease.

These are the best books available for commercial real estate professionals. Whether a professional is looking to simply improve their productivity, have a go-to guide, or immerse themselves in the industry – it’s all possible with the books on this list.


11 Easy & Insightful Open House Tips Used by Seasoned Real Estate Pros

Realtors have a lot of ideas about how to stage an open house. Some agents suggest the basics, such as cleaning the house which is always a good idea, but there are additional ways to make your home stand out to potential buyers and make a great first impression.

Renovations and Repairs

Make a better first impression by doing any repairs or renovations before you host an open house. Rooms that need painting, fixtures that are outdated, or minor improvements that must be made may put off potential buyers; what they notice is how much needs to be done.


Get your home list with an MLS, on Craigslist, in local papers, and on social media. Email all your family and friends. Ask them to share. Put up signs around your neighborhood with directions to your home.

Thorough Cleaning

A sparkling clean home attracts more buyers than one that’s dingy. Some sellers use a professional cleaning service before hosting an open house to get windows and carpets cleaned. A professional cleaning service will make sure everything is in perfect condition.

Declutter Your Home

When people go to an open house, they want to see the home’s features. Before you schedule your open house, start packing. The house should appear sparse and not cluttered. It’s easier for buyers to have a good idea of how much space is available if it’s not cluttered.

Fill the House With Light

Make sure your home looks cheery and bright. Open drapes and blinds to let in as much light as possible. Most people want a lot of light in their home. You should turn all the lights on even if it’s a sunny day to transform the rooms into a warm and welcoming space.


After you clean your home, pack away all your items including family photos, awards, and get the children’s toys out of the way. Buyers want to picture themselves in your home and imagine where they’ll place their personal items and furniture. It’s difficult for them to do that with your personal belongings strewn around the house.

Accessories and Furniture

You want your home to have a simple, uncluttered appearance, but it should always be staged with some furniture and a few accessories. If you’re still living in the house, add a few touches like a vase of fresh flowers in the living room, new guest towels in the bathroom, or new kitchen or bathroom fixtures. You may consider giving the kitchen a fresh coat of paint to brighten it up.


Most people that attend an open house because they’re looking for a new home. However, you’re still letting strangers into your home, and you can’t keep an eye on everyone. Make sure to lock up all valuables including personal documents, jewelry, and checkbooks. Keep all expensive electronics out of sight.

Provide Handouts

Make sure that you provide a flyer or brochure with photos of your home, information about recent home sales in your price range, and community and school information.


Baking cookies and having freshly made coffee or soft drinks ready is a nice touch. Some sellers host a wine and cheese party or cookout and invite neighbors. The idea is to make the open house a fun, social event.

Pay Attention To Feedback

Listen to comments people make about your home. If several people make comments about repairs, features that put them off, or the price, you may want to make some changes.

7 Exceptional Real Estate Apps for Real Estate Professionals

The real estate trade long ago consummated the age-old technique of exchanging and selling apartments, buildings, and other real estate properties –and this hasn’t changed much over the last few decades.

However, the way in which the real estate market is addressed, managed and explored certainly has changed. Now, real estate services are streamlined, and long-winded processes have been condensed to effortless keystrokes and swipes. Real estate technology has stepped onto the scene, and it’s not likely to take a step back, as the new pieces of software and the clever applications have worked to transform access to the market for real estate professionals.

Read on to learn the name of seven exceptional real estate mobile apps:


Contactually is CRM software that offers users a platform designed for organizing important and priority individuals in your contact list. A master list is created, connected to email and business applications, and users are then able to create customized reminders alerting you if too much time has elapsed between communication. It streamlines customer relations.


RPR Mobile is a property research app that’s designed exclusively for realtors. The application facilitates quick property searches, the creation of branded reports, and it offers a bird’s eye view of the local market through dynamic mapping tools and advanced search functions. More than that, users can see local market statistics, weigh neighborhood conditions, and access valuable data.


Zillow is a top-rated real estate app that works for both realtors and hopeful homeowners. Searches can be filtered by bedrooms, price, bathrooms, keywords, and more. Real estate professionals can offer home seekers an uncompromised understanding of property, whether they’re searching for commercial or residential properties.


NeighborhoodScout is an online database or website for U.S. communities. The tool empowers professionals to invest wisely, mitigate risk, and uncover opportunity. The free site grants access to micro-neighborhood trends, exclusive analytics, and forecasts. The unique insights and data offer an intimate understanding of neighborhoods.


Vert is an all-in-converter that provides temperature and currency conversions; this is ideal for those working in high end and international sectors of real estate.


CityMaps is an incredible socialized mapping application that’s frequently used by travelers. Accessible online and offline, it can provide insight on where to eat, where to sleep, and what to see while in a particular area. The application is an ideal for those interested in providing insider tips.


Dotloop is powerful and intuitive. It’s real estate technology created to cooperate with lives that are busy. This simplifies paperwork, client interaction, and simple solutions to complicated issues.

If you know of any other incredible real estate applications, please feel free to share!

7 Attractive Commercial Real Estate Investment Tips

Kevin Brunnock | Real EstateOrchestrating a commercial real estate exchange is simply a matter of evaluating the best property deals, scouting the right help, and using informed insider knowledge to help you tap into success. 

Performing efficiently as commercial real estate professionals requires that you learn commercial real estate vocabulary, that you do the homework, find experts, figure out your financing, make an offer, and practice due diligence, but there are a few other rules you should live by:

  1. Don’t accumulate commercial properties, be an investor. Producing income or profit is the primary reason people become interested in purchasing new property. If you acquire property without turning a profit, you aren’t making an investment. Being an investor means being able to instigate accrual.
  2. Every property has a shelf life, a lifetime. Many investors make the mistake of forgetting that money must be spent on the property for upkeep. A building may require an updated electrical system, or a new furnace or roof. Every building must be maintained, and there have to be long-term plans in place to handle repairs.
  3. When starting out, you have to focus one particular type of investment. There are different types of investment, ranging from offices to retail to land to apartments. Every deal requires undivided attention. Otherwise, this could result in some average-performing.
  4. Environmental concerns can over be an issue for commercial property owners. Property owners are individually responsible for fixing problems, even if they aren’t the one who caused those problems. Ownership means shelling out the cost of cleanups, disposals, and environmental assessments.
  5. Mentors can offer guidance in the face of mistakes. They can pointedly connect you with valuable resources, correct errors regarding due diligence, and grant access to opportunities.
  6. Be sure to protect yourself and your assets. In the case there’s a lawsuit, be sure that you find a lawyer and ask yourself some questions. Figure out what’s at stake if you lose a lawsuit, how is your personal property protected, and how real estate investments may impact your other investments.
  7. Attempt to finance your real estate deal with a non-recourse loan. This means that you shouldn’t personally guarantee a loan, which offers two advantages. Them being that you’ll be taken off a loan if a partnership collapses, and if the property fails, then you won’t be personally tied to that failure.

Learn what insiders know, map out a plan of action, get familiar with the major commercial real estate metrics, look for motivated sellers, and discover the fine art of identifying vacancies.

Changes We Can Expect See In New York City’s Housing Market In 2017

Kevin Brunnock | NYC Real EstateNew York City’s luxury real estate market cooled down in 2016. The number of high-end sales went down 18 percent, according to realtors Olshan Realty Inc. This general trend was predicted by a site called StreetEasy, which predicts New York City’s real estate market trends every year. If they were able to get that right, there’s a good chance we should be trusting their prediction for 2017. Here are a few things we can expect to see happen to the New York City housing market according to StreetEasy:

  1. Manhattan’s Sales Market Will Experience Slow Growth

Out of the five boroughs, Manhattan is expected to have slowest sales market growth. Over the past few years, high demand and high-priced inventory lead to high resale prices in Manhattan. However, the market is now being dragged down by these luxuries. In November 2015, Manhattan’s luxury tier became the first segment of the market to see price declines and the trend has continued since. This trend will most likely spread to all segments of the market. 2017 is expected to be one of the slowest years for price growth for Manhattan sales in years.

2) Neighborhoods Will Change Due To Transportation Changes

The real estate conversation in 2017 will be largely affected by public transportation. There will be a number of major public transportation changes in New York City in the near future, including the opening of the Second Avenue Subway, the L-train shutdown, the M-train repairs and the 7-train extension to Hudson Yards. According to research, rent and sales prices increase when a home is close to convenient transportation.

3) People Will Turn To Homeownership

In 2017, we can expect rent to increase across all five boroughs. Rent is likely to far outpace income growth. This past November, Queens rents increased 4.1 percent year-over-year, outpacing both Brooklyn and Manhattan. Over the next year, Queens rents are expected to continue increasing by 2.4 percent, while Manhattan rents are expected to increase by 2 percent and Brooklyn rents by 1 percent. As sales price growth slows and rents increase, many renters who have saved for down payments will become homeowners in 2017. If we look at the tipping point, or the point in time at which the costs of buying will be less than renting, we see evidence of the shift to home buying occurring in the near future.  According to StreetEasy, more than 80 percent of all New York City neighborhoods that have recorded tipping points, have tipping points of less than five years as of November 2016.


4) Hottest Neighborhood Will Be Kingsbridge; The Rest Will Be In Brooklyn

Each year, StreetEasy comes out with a list of the city’s hottest neighborhoods, showing where New York apartment shoppers are expected to look in the coming year. At the top of the 2017 list is Kingsbridge in the Bronx. Six of the ten spots are occupied by Brooklyn neighborhoods. How present were Manhattan and Queens? The only two neighborhoods from these boroughs that make the cut for 2017 are Yorkville in Manhattan, and Astoria and Bayside in Queens.


Overall, we can expect a lot of changes in New York City’s real estate market in 2017. It will be exciting to see whether these predictions come true.

5 Historic Houses Converted into Museums in NYC

5 Historic Houses Converted into Museums in NYC | Kevin BrunnockHistoric homes that have become famous museums has been a prime use of real estate over many years. They have preserved our history and culture so are of tremendous value. There are many such places in New York City, and here are just a few examples that you would enjoy viewing and exploring.

Morris-Jumel Mansion

Constructed in 1765 by a British loyalist, Roger Morris, it was known as Mount Morris. Amazingly, in the Revolutionary War, George Washington as well as Hessian and British forces were occupants in the house. Washington returned on July 10, 1790, and dined there along with Thomas Jefferson, John Adams, Alexander Hamilton, and others. The mansion and grounds were later purchased by Stephen and Eliza Jumel, by the City in 1903. In 1904 it was opened to the public as a museum.

Van Cortland House Museum

Located on the edge of the Van Cortland Park in what was then Yonkers, the Georgian fieldstone house was constructed in 1748. It is now the oldest building in the Bronx. This house is another used by George Washington during the Revolutionary War and was also used by the Marquis de Lafayette, Rochambeau. The house was converted into a museum in 1896 by the National Society of Colonial Dames in the State of New York and has been open to the public ever since that time.

Mount Vernon Hotel Museum

Constructed as a carriage house in 1799, in 1826, it was converted into a hotel. The Colonial Dames of America bought the building in 1924 and converted it into a museum, which was known until 2000 as the Abigail Adams Smith Museum. The name was changed as President John Adams’ daughter, Abigail, had no connection with the structure.

Edgar Allan Poe Cottage

Built in 1812 in the then village of Fordham, it was typical of the area’s working-class homes. After Poe‘s death, the house where he had written a number of his works was sold. The New York Shakespeare Society saved the home from destruction in 1913 by raising funds to move it across the street. It is a part of the Historic House Trust

Theodore Roosevelt Birthplace National Historic Site

This is the only presidential birthplace opened to the public in New York City. Roosevelt was born on this site in 1858, and the house was demolished in 1916 to become a retail building. However, within weeks of his 1919 death, the Women’s Roosevelt Memorial Association bought the lot and the adjoining one and reconstructed the home to look like what had been the interior design in the years of 1865-1872. In 1963, it was donated to the National Park Service.

Many historic homes and their real estate that became museums give us a unique look into other time periods and make us happy to be able to admire the delightfully preserved establishments, which still exists.