Navigating the Shifting Real Estate Landscape: Insights on the New York Market with Ariel Tirosh

The real estate industry is always evolving. It’s fast-paced, competitive, and, at times, can feel like a rollercoaster. Especially in a dynamic market like New York, the highs can be high, and the lows can be steep. But with the right knowledge, strategies, and approach, success is always within reach.

On a recent episode of my podcast, I had the pleasure of speaking with Ariel Tirosh, a licensed associate real estate broker at Douglas Elliman in New York. Ariel’s vast experience in the industry, especially in new development projects, brought a refreshing perspective to our conversation. He shared not only his journey but also his deep insights into the challenges and opportunities within the New York market, as well as the future of real estate.

Ariel’s Career Path

Ariel’s journey in real estate started during one of the most difficult times in recent history—the Great Recession. As a young professional, he dove into smaller projects, learning the ropes and proving his worth. This was not an easy start, but it’s one that taught him important lessons in resilience and perseverance.

He gradually transitioned from working on smaller projects to focusing on large-scale developments. Today, Ariel’s career revolves around new developments in New York, where he leads a team that specializes in designing, marketing, and selling high-end condominiums.

His success didn’t happen overnight; it’s the result of building strong relationships, consistent hard work, and a commitment to understanding what developers and buyers truly need.

New York Real Estate: Trends, Challenges, and Opportunities

Real estate markets are never static, and New York is no exception. In our conversation, Ariel and I explored the various challenges and opportunities that real estate professionals face in this fast-moving, ever-evolving market.

Challenges and Opportunities in Real Estate

Ariel and I discussed the disruption caused by companies like Zillow and the challenges these giants bring to the table. We both agreed that the real estate industry has yet to unite as a whole to advocate for its professionals. Realtors often find themselves fighting for respect, with little support from the very companies that employ them.

A major challenge today is the industry's ongoing struggle to find its place in a market heavily influenced by tech companies. The convenience of searching online for properties can’t be denied, but there’s a lot of value in the guidance a seasoned realtor can provide, especially in markets where details matter.

New Developments in New York

Unlike many realtors who focus on resale homes, Ariel has the unique opportunity to shape the skyline of New York City. He works closely with developers, architects, and designers from the beginning stages of a project, guiding the development process through pricing, unit mixes, finishes, and marketing strategies.

According to Ariel, the timeline for these projects is long, often stretching over 3 to 4 years. The planning starts with conceptual ideas and continues until the final sales. He and his team often start working on a project even before developers purchase the land.

I was fascinated by how they market these projects, and Ariel shared his approach to creating immersive experiences for potential buyers. Sales offices, model apartments, and sales galleries all come into play to sell the dream of a new development before it’s even built.

It’s not just about showing a building—it’s about selling the vision and lifestyle that comes with it.

Current Market Conditions in New York

While New York’s real estate market is legendary, it’s facing its own set of challenges.

Ariel explained that the effects of the COVID-19 pandemic on real estate developments are still lingering, particularly in the office market. The pandemic has accelerated remote work, and as a result, office spaces are seeing less demand. In contrast, housing prices have remained flat since 2016, despite high demand.

Interestingly, the ultra-luxury market remains strong. High-end homes, particularly those above $10 million, continue to sell at record prices.

But in the middle market (homes in the $1-4 million range), things are a bit more challenging. Buyers are more hesitant, and there’s less demand for these properties compared to the ultra-luxury homes.

Ariel also mentioned the shift in population patterns. Since the pandemic, many people have moved out of New York, particularly to states like Florida. While some are likely to return, it’s a trend that could impact the market in the years to come.

New Trends and Future of Real Estate

One of the most interesting ideas Ariel shared was his vision of future urban living. He predicts that buildings will get taller, but apartments will get smaller. With limited space available, developers will focus on maximizing shared spaces and amenities.

In this scenario, residents will pay less for private space but gain access to extensive communal areas designed to foster interaction and a sense of community. This concept of creating spaces that encourage connection is particularly important in cities like New York, where many people can feel isolated despite living in densely populated areas.

Ariel’s Focus on AI and Future Ventures

Ariel has been exploring how AI can be leveraged in real estate to process the vast amounts of data generated every day. While the technology is complex, he’s keeping a close eye on how it can help improve business operations and decision-making.

For now, Ariel is focused on simplifying his work and aligning his efforts with the ever-changing market. He’s also watching global trends and staying attuned to shifts in markets, like Florida, where many of his clients are moving.

The Role of Realtors and Commission Lawsuits

One of the biggest frustrations for both Ariel and me is the way realtors are undervalued in today’s market. Commission lawsuits have become a significant topic of discussion, especially with large corporations like Zillow pushing to lower commission fees. The reality is that many realtors are feeling the financial impact of these changes.

It’s important to stay updated on industry regulations by listening to real estate podcasts, news, and other industry resources. When you understand the rules, you stay ahead of the curve!

Listen to More Insightful Episodes Featuring Real Estate Icons on REalizations Podcast!

Ariel’s insights were a true eye-opener. His perspective on the challenges facing real estate professionals, the future of the industry, and the impact of new developments in New York was invaluable. His wisdom is a reminder of how critical it is to stay informed and adapt in this ever-changing market.

If you enjoyed this conversation, tune into REalizations Podcast. Whether you’re a seasoned realtor or a first-time buyer, there’s always something valuable to learn on my podcast.

And, if you’re looking to buy or sell a home in the Bay Area, I’m here to help. Contact me today for personalized guidance and support as you make your real estate dreams a reality!