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“Jacob is a terrific RE agent. My husband and I wanted an apartment with a Hudson River view. Over about 3 years, Jacob took us to look at many places. Although we rejected many apartments, Jacob continued to be very patient. He always made himself available to show us new apartments that came on the market and also looked for opportunities that were not yet on the market. When we finally found the perfect apartment, Jacob shepherded us through the complex coop application process, helping us to craft an application that enabled us to buy the apartment. My husband and I recommend him without reservation.”

“Jacob is a true gem. To be honest my budget wasn't large for New York, but Jacob helped me find a good one bedroom apartment that just needed some love well within my budget. Jacob handled everything that New York real estate threw at him easily and assuaged my anxiety. He has great recommendations that were not as easy to find as a simple search and went at my pace, fast but not pushing me. I have already recommended him to all my friends and will 100% come back if I need/ want to move again. Really you can’t go wrong with Jacob in your corner.”

“Jacob is a very professional, knowledgeable and hard working agent. He undertook all tasks related to the sale of the apartment without hesitation. He made things quite easy for us and provided excellent guidance. If things needed repair or the apartment needed staging...he handled everything. I found him to quite forthright on all occasions and I can easily recommend him to anyone seeking a professional real estate agent.”

“I worked with Jacob for quite a few months on my HDFC coop search in Manhattan. Jacob was fantastic to work with - highly knowledgable, responsive, and really understood what I was looking for. I visited a few units that helped me narrow down my search, and once I was ready to submit an offer he was incredibly helpful and walked me through every step of the way. HDFC purchases can be more complicated than a condo, but the board application and closing went off without a hitch. I was also able to close very quickly (thanks also to the attorney recommended). I'm really happy with my new apartment and extremely grateful to Jacob for all his help throughout the process, I recommend him highly!”

“Jacob wood fantastic service i recomend”

“Jacob was an outstanding agent in our recent search for a place in lower Manhattan. His knowledge of the areas we were interested in and his diligence in following up with us even though we were not committed to a timetable resulted in us finding the perfect place at a great price. With his help, and with his team of professional contacts, we actually got the deal done well before we expected to, and it was hassle-free. His professional but friendly demeanor also made him easy and enjoyable to work with. He treated us like we were valued clients even though we were not searching for a pricey property. He has even followed up with us since the closing to see how the new place is working out. We would definitely use him again and freely recommend him to others.”

“My wife and I worked with Jacob in selling our Upper West Side apartment, and he was terrific. He started with an ambitious plan, fully delivered on what he said he would do (including providing contractors who could prep the apartment), and our apartment sold at a top price and quickly. We appreciated his sophistication, and this was a very positive experience for us. We highly recommend Jacob!”

“Jacob is excellent and I recommend him highly. He understood what I was looking for in a home and was flexible in his approach to showing a variety of places. He was smart about how to prepare the offer and provided valuable counsel through the board process and closing. He is patient, responsive and always willing to go the extra length. He introduced me to a number of professionals in his network of resources and I am so pleased to have met my closing attorney and architect through him. He thinks about what is best for his customer and that is a great asset! Wishing you a lot of success Jacob!”

“Jacob’s a rock star — he got me a better price than I’d ever expected and has killer contacts, with both a reasonably priced and incredible lawyer and a mortgage broker wizard. Couldn’t recommend him highly enough.”

“Jacob is an experienced and well informed real estate broker who exhibits high acumen and professionalism for his industry. His understanding of market trends and knowing how to present properties for the market make him an indubitable asset to any seller. A very capable and efficient agent, who made the process of selling my apartment an easy and pleasurable experience.”

jacobwoodre
jacobwoodre Manhattan Luxury Market Update | Week of April 20th The Manhattan luxury market had 34 contracts signed last week at $4 million and above, 5 fewer than the previous week. Condos outsold co-ops, 21-8, with 1 condop and 4 townhouse in the mix.
jacobwoodre The office of @nycmayor announces @zohrankmamdani pied-a-terre tax proposal on second homes valued above $5m, endorsed by @govkathyhochul What do we know and what don't we know? What affect will this have on our market? How does Ken Griffin feel about it??? . . . #NYCRealEstate #BillionairesRow #PiedATerre #LuxuryRealEstate #NYCPolitics #ZohranMamdani #KenGriffin #ManhattanRealEstate #NYCHousing #TaxTheRich #NYCBudget #CentralParkSouth #LuxuryMarket #NYCCondos #RealEstateTax
Interesting. But not sure I entirely agree.
Excellent analysis
jacobwoodre
jacobwoodre Mamdani pushes pied-a-terre tax on homes valued above $5m! A couple days ago @nycmayor @zohrankmamdani proposed a tax on owners of second homes in NYC valued above $5m. The proposed rate structure would include a sliding scale from 0.5% on property valued above $5m up to 4% on properties valued above $25m. Townhouses would be taxed at .5%–4% of market value above $5m, and condo / co-ops 10%–13.5% of assessed value above $300k. The distinction is important: the assessed value of apartments for tax purposes is usually around only 4% of their actual market value. Meaning the owner of a condo will have a fraction of the pied-a-terre tax liability as the owner of a townhouse. This is a fundamental flaw in the structure of the proposal as it currently stands and is likely to draw scrutiny in Albany. The tax is projected to affect around 13,000 homeowners and raise around $500m annually. The Mayor made his announcement video in front of Ken Griffin's $238m penthouse purchased in 2019, which would incur an additional annual tax liability of around $1.1m as the proposal is currently written. To discern the effect this additional tax is likely to have on the luxury submarket, Griffin's home is a useful example. A $1.1m tax liability increase would nearly double his average RE tax + common charge costs. This would undoubtedly cause a value contraction for the average-priced apartment. But... when Griffin purchased the home in 2019 he himself readily admitted it would never appraise near what he bought it for. It wasn't a value purchase, it was a vanity purchase. The NYC luxury market has just completed it's third fiscal quarter in a row of banner-performance, all after the next mayor and his policies were a foregone conclusion. Luxury buyers' current financial position has never been better. Continuing to use Griffin as an example, he just closed on another NYC luxury real estate purchase, his second home at 740 Park Ave specifically, for $38m... almost double what the seller paid for it in 2019. . . . #PiedATerre #LuxuryRealEstate #NYCPolitics #ZohranMamdani #KenGriffin #ManhattanRealEstate #TaxTheRich #NYCBudget #LuxuryMarket #NYCCondos #RealEstateTax
yeah, the biggest issue here is that it takes a real critique about nyc’s busted property-tax structure and then stretches it into a much broader anti-tax conclusion than it actually proves. the uneven treatment between condos/co-ops and townhouses is a legit flaw that should be fixed. but beyond that, this reads like luxury broker panic. using ken griffin as the centerpiece is almost self-defeating. if a guy can drop obscene money on multiple nyc homes, the idea that a tax on second homes over $5m is some catastrophic assault on the market starts sounding pretty dramatic. also, a slight cooling of the ultra-luxury pied-a-terre market is not automatically some public tragedy. these aren’t primary homes for ordinary new yorkers. if the goal is to raise revenue from underused luxury assets instead of squeezing working people harder, that’s a pretty defensible policy choice. fix the structural imbalance, sure, but acting like billionaire second-home owners are the victims here is a bit ridiculous.
@david__seoane Exactly. The percent of property value the owner of an eight or especially nine-figure condo owner pays in tax liability -even after this proposed pied-a-terre-tax- is lower than that of the average US or even NYC homeowner, as is the percentage of their income / assets they use to purchase, as is of course their total tax liability. I also think you make a good point about the implications of any cooling of the luxury market. NYC has had a bi-furcated market for a long time, and what happens in the luxury sector has little bearing on the market below $2m.
This is really well worded and I’m so happy to be a team. @jacobwoodre
jacobwoodre
jacobwoodre Manhattan Luxury Market Update | Week of April 6th The Manhattan luxury market picked up with 38 contracts signed above $4 million... 7 more than the previous week. Condos outsold co-ops, 24-11, with 3 townhouse in the mix.
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