Real estate news across the East End

Real Estate News

Michelle Breskin. Independent/Courtesy Compass Real Estate

Breskin Joins Compass

After many years of working in real estate, Michelle Breskin has decided to make the move to Compass.

Breskin is passionate about the NYC real estate market at large, but considers herself a specialist in new developments, having collaborated with architects and developers on multi-unit combinations, since they often turn to Breskin to weigh in on aspects from design to construction to help them extract the most value from their projects. As a partner with Breskin Development, she served as lead designer in more than a dozen high-end custom-builds and a notable historic renovation in the Hamptons that garnered extensive press.

As a result of this experience, Breskin understands what clients want as it relates to design, what is trending, and has a keen eye to spot quality materials in construction to ensure her clients are buying a valuable property. This intimate knowledge of design and building and attention to details also positions Breskin uniquely to help sellers as she can speak to a property and show value in ways others cannot.

A native New Yorker, she has a vast knowledge of various neighborhoods, from the Upper East Side to Brooklyn. Having three children of her own, Breskin is infinitely familiar with local school districts and the NYC board of education zoning. Given her intimate knowledge of the NYC school system, families turn to Breskin as the expert in finding their dream home in a desired school district.

Breskin holds a bachelor’s degree in economics and an MBA with a concentration in marketing. Her prior career was in the financial services industry, working on a high paced, highly profitable equity-trading desk. Her economics and finance background has helped her identify the effects of global economic events on the real estate industry and provides her with the ability to advise her clients from an investment perspective. She is a highly effective negotiator and always puts her client’s interest first. Breskin is fluent in Russian, and is thus is able to conduct business in Russian.

Breskin will be a part of Compass’s Victoria Shtainer team.

Hamptons Sales

What kind of woe is this? Jonathan Miller of Miller Samuels Inc, the analytical arm of Elliman, confirms what the rest of us feared but refused to say out loud: Sales fell for third consecutive quarter in the Hamptons market.

“Rate of year over year sales declines expanded in 2018 as rate of inventory declines eased,” said Miller.

Somewhat surprisingly, the largest decline in third quarter market activity by price occurred in the under $1 million market, which has seemed active as of late.

Want more proof? Luxury listing inventory surged to the highest level seen in the seven years of tracking. Luxury sales at or above $10 million are unchanged from a year ago.

North Fork

According to Miller, on the North Fork, median sales price rose year over year for the sixth consecutive quarter to record highs while listing inventory slipped for third consecutive quarter. The number of sales fell sharply year over year for the second consecutive quarter.