Financial Times

New York State of Mind: Optimism Fuels the Property Market

March 5, 2021

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Alexa Lambert at Compass, another of the city’s top brokers, says the past year has been a “complete rollercoaster”. In the midst of the pandemic, people were asking for a “COVID discount” of 20-30 per cent. But by mid-to-late fall, the mindset shifted. Since then, Lambert has sold all but two of the 15 apartments at the Benson, a new development on the Upper East Side. The least expensive was just under $13m.

“I feel this vibe now that people who have left New York are bored where they are,” says Lambert. “They want to come back, eat in restaurants, go to museums, go to the ballet. They’re thinking, we’ve walked down this country lane one too many times.