The Daniel Kramp Team Update

Dear Clients and Friends,

As we close another year, it's easy to reflect on accomplishments and numbers, but what truly matters are the incredible people who make this
journey possible: our clients and team. For me, real estate has always been about more than transactions; it's about relationships, trust, collaboration, and the privilege of working with remarkable individuals.

I want to express my heartfelt gratitude to our clients and team for making 2024 so extraordinary. From joining Christie's and expanding our
reach to serving clients across all price points (particularly in luxury and new developments), this year has been filled with growth and
milestones. In 2024, we expanded to Litchfield County and broke a record for one of the most significant sales in Washington, CT! We
welcomed talented new team members and had the honor of representing extraordinary new developments in the Upper West Side
and the Financial District. Whether it was an off-market or an on-market sale, we achieved success across the board.

Of course, this year brought challenges, too, but they pushed us to continually prove our value-and I'm proud to say we rose to the
occasion every time. Thanks to your trust and support, 2024 has been the best year yet for the Daniel Kramp Team. We can't wait to see what 2025 holds!

Thank you for being part of our journey. Warm Regards and Happy 2025!

Best,

DANIEL KRAMP
LICENSED AS DMITRY KRAMP
LICENSED ASSOCIATE REAL ESTATE BROKER

MANHATTAN Q4 ANALYSIS

Q4 of 2024 has been an exciting one for Manhattan real estate, with some standout numbers across the board! Overall, contracts signed jumped by 22.2%, totaling 2,459 deals, showing the market is alive and thriving. The average price per square foot (PPSF) also saw a solid increase of 2.5%, now at $1,333, indicating steady growth. New developments took off, with contracts signed up an impressive 76.2%, reaching 430 units, and the average
PPSF for these properties rose by 3.2% to $2016. The luxury market is shining too, with contracts signed up 33.5%to 355, while the average PPSF for luxury properties surged by 7.6%, hitting $2,560. All in all, it's been a dynamic quarter for Manhattan, and the future looks promising as ever!

BROOKLYN Q4 ANALYSIS

Q4 of 2024 has shown some notable shifts in the Brooklyn real estate market! Across the board, contracts signed saw a solid 24.6%increase compared to Q4 of 2023, reaching 943 total deals, with the average price per square foot (PPSF) climbing by 11.1%, now sitting at $785. New developments in Brooklyn are soaring, with contracts signed jumping a remarkable 76.7%, totaling 311 units, and the average PPSF for these properties rising by 3.3% to $1,198. However, the luxury sector experienced a bit of a slowdown, with contracts signed down 35.7%, totaling 45 units. On the upside, luxury properties saw an impressive 22.9% increase in PPSF, now at $1,815. While there were some ups and downs, Brooklyn's real estate market remains dynamic and continues to offer exciting opportunities!

2024 Wrapped

The Daniel Kramp Team's Top 5 of 2024

In need of lifestyle inspiration for the new year? Take a look at our team's top picks for travel, food, drink, and more! 

Inspired by each of our experiences over the past year. 

WHERE TO GO.... CONNOR 'S TRAVEL PICK

Amsterdam, Netherlands

Amsterdam is one of those cities that truly captures your heart (trust me, I know from personal experience). From the moment you step off the plane, the charm of the canals and the city's cozy, welcoming vibe envelops you, and before you know it, you're planning your next visit! There are four things that keep me coming back again and again: the food, the art scene, the incredible people, and, of course, the beer. 

If you find yourself in Amsterdam, besides going to see the vibrant art scene and museums, there's one place that I recommend you check out: Van Kerjwick. Van Kerjwick is a small, intimate restaurant that perfectly captures the essence of Amsterdam. It's a spot I visit every time, and what makes it special is its simplicity. There's no menu; one of the owners comes to your table, tells you what's available that day, and you simply go with the flow. It's a truly authentic experience that makes you feel like part of the local scene. Amsterdam has a magic that's hard to describe, but once you experience it, you'll understand why it's a place you'll always want to return to. 

WHAT TO SEE.... IF YOU ASK JASON

US Open Tennis Championship

My experience at the US Open has been nothing short of exhilarating. From the moment you step onto the grounds, I was immersed in the electric atmosphere, surrounded by passionate fans, the hum of anticipation, and the unmistakable sound of tennis balls being struck with precision. My brother and I have attended the last three years, and trust me when I say those feelings never get old! The stadiums themselves are a spectacle, with their towering grandstands and bright lights, but if you think you are only going to see a tennis match, you are mistaken. Don't miss the famous Honey Deuce cocktail - be prepared to wait in line. Whether you are a true tennis fan or just finding something to do during the late days of summer, the US Open never fails to deliver unforgettable moments!

WHAT TO EAT.... JULIE'S 2024 RESTAURANT PICK

Carne Mare, Located at Pier 17 - 89 South Street

Carne Mare in New York is seriously one of my favorite spots! From the moment you walk in, you're hit with this cool, modern vibe that sets the tone for a pretty amazing meal. The menu is like heaven for anyone who loves a good steak. I'm talking juicy, tender cuts that just melt in your mouth. The Tomahawk Ribeye? Totally worth the hype, don't forget the sides because they are just as good as creamed spinach and truffle fries? Yes, Please! The wine list is great too, and it pairs perfectly with whatever you order. If you're in the mood for an epic meal in a fun, chill atmosphere, Carne Mare is definitely the place to be!

WHAT TO DRINK.... IF YOU ASK ALEXANDRA

Martinisat BemelmansBar, Located in The Carlyle Hotel at 35East 76th Street

At BemelmansBar, the martini feels like so much more than just a drink. It's an experience I love coming back to time and time again. Perfectly prepared, served ice-cold, and paired with a sidecar of extra martini, every sip stays just as crisp as the first. I also love the timeless elegance of the space, Ludwig Bemelmans' murals, the live jazz, and that old-world glamour makes it feel like stepping back in time. It's not just about the cocktail; it's about immersing yourself in a quintessential NYC moment. For me, it's the perfect blend of sophistication and classic New York charm, and I always leave feeling like I've had a truly special evening.

WHAT TO DO IN CT. . . ACCORDING TO CYNTHIA

Jumpfest in Litchfield County, CT 

Living in Litchfield County is a little bit like traveling back in time. When I first moved here,I wanted to write a novel about all the odd, quirky things that people do here. But after a quarter century of part-time and now full-time life in northern Connecticut, I've become one of them. Of COURSEI drive my trash to the local transfer station and tip it into the big bin. Of COURSEI go pick up my mail in person at the post office, even though I could get it delivered to my house. It's not funny anymore, it's just normal. 

What still intrigues and delights me after all this time are the winter sports. My two favorites: ski jumping and curling. Olympic ski jumpers from around the East Coast have been coming to Salisbury for NINETY-NINE YEARS to hurl themselves off a 65-meter tower, fly through the air, and land with a graceful bump and shooosssh on the snowy landing field. In nearby Norfolk, you'll find one of the oldest curling clubs in the United States. You don't need to try and do these sports yourself; just drive up from NYC, sit back, and watch from the viewing areas. The ski jumps are Feb. 1and 2. Curling matches go on all winter at the Norfolk Curling Club. 

Get all the details at jumpfest.org! Photo by Randy O'Rourke

Looking Ahead...

Our Predictions for 2025

2024 was a year of anticipation. Many were waiting-waiting for interest rates to drop, waiting for election outcomes. Despite this, one thing remained clear: the demand for New York City real estate was unshakable across all price points. Notably, luxury and new development properties stood out, reaffirming that the affluent remain committed to investing in NYC real estate, even during uncertain times. Additionally, the consistent appeal of newly constructed, well-designed apartments in prime locations demonstrated that quality and design remain key drivers in this market.

As we look ahead to 2025, there is strong optimism. With anticipated rate fluctuations, we expect a resurgence of activity and renewed confidence in the market. Experts predict that the first two quarters of 2025 could be particularly active, as persistent low inventory meets pent-up buyer demand. Many buyers tired of waiting on the sidelines are likely to step back into the market, making offers. Historically, rate reductions have had a substantial
impact, driving increased activity by enhancing affordability and purchasing power. Should rates approach 5%, we are likely to see a significant surge in demand from those who have been awaiting this opportunity.

This process will likely take a few months. In the meantime, savvy buyers can capitalize on the balanced market, while informed sellers have the chance to seize the moment and benefit from demand. To stand out in the competition, Sellers should ensure their property shines by focusing on staging, proper presentation, and strategic pricing. Additionally, hiring an experienced agent can be a game-changer. An agent provides invaluable expertise in design
to enhance the property. appeal and a deep understanding of market dynamics to position the home effectively, ensuring maximum visibility and value.

The Daniel Kramp Team Promise

Buying and selling is a very personal and important processes. You deserve nothing less than exceptional customer service from
someone who is there to guide you every step of the way to achieve your goals. Our goal that person for you.

156 Fifth Avenue, Suite 904, New York, NY 10010
www.danielkramp.nyc | [email protected] | 646.549.0258