No matter how much money you have to spend, everybody in Manhattan makes compromises when it comes to choosing their property. From $1 million to $20 million, it doesn’t matter. It’s called the human condition.
So we always ask buyers: what are the top three things you need in a property? What’s really important? And we ask our customers to write them down. And then we go from there.
If you’re looking at a first home, or you’re looking at a last home, you have a different set of priorities. With your first home you’re looking to make a smart financial decision, and you’re probably going to compromise on some things. For a second homes, or a last home, you know yourself pretty well. You know absolutely what you want. We see this all the time with retirees, who have no use for duplexes, or stairs. They might want a doorman, to get deliveries.
I think everybody in New York has a tendency to see people living fabulous lives—especially on TV—and they feel, “Wow, I’m not living that life, and I want to.” And they tend to overspend. That’s not the wisest move.