Season's Greetings and News You Can Use from the BPG Team

December 20, 2023

Giving Back, Holidays and Reycling, New Parapet Rules, Market Outlook

This is a great time of year to clean out the closets. Out with the old and in with the new.! Check NYC site for where to donate most anything. When it comes to cards and wrapping paper make sure to recycle the paper and compost all your food scraps from your festive feasts. Please always check DSNY if you need clarity on how to dispose of something or contact works@brownstonemgt.com New DOB Parapet Inspection Rule New DOB rule (LL 127) beginning in 2024 requires the inspection of parapets in all buildings fronting the right of way regardless of height. This is similar to the longstanding Local Law 11 (FISP) that requires inspection of facades and parapets in buildings over 6 stories. We are working to ensure all of our buildings meet this requirement in 2024. To learn more about about these new requirements or other compliance related matters contact compliance@brownstonemgt.com
There is reason to be optimistic that the market will provide more opportunities for buyers and sellers in 2024. Modest home appreciation, expectations that the Fed will lower interest rates, Lower mortgage interest rates and a 5.5% increase in FHFA conforming loan limits increase to $766,550 in 2024 up from $726,200 in 2023 will contribute to more activity and access in 2024. If you want to discuss the market and your real estate goals, reach out at homes@brownstonepropertygroup.com Package thievery tends to increase as we get close to the holidays . So be attentive and be caring. Do not let people in that you aren't expecting. If a package is in plain sight of the door in your building move it to a place where it can't be easily seen. If you are interested in other ways to improve your package situation such as a package closet or bin or video intercoms, speak to your property manager.

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