Furniture shortage boosts sales of furnished homes in NYC
Josh and Nicole Slavitt are exemplary homeowners – and not just because they got their Long Branch, New Jersey beach home up and running about 12 hours after purchasing it.
This is because the 1,700 square meter model unit in The Lofts Pier Village – with three bedrooms, side sea views and two balconies – was fully equipped with a plush sofa, a dining table, beds and weatherproof furniture for the outdoor areas. It was all in the deal that was closed in July. (Units now start at $ 619,000.)
Buying a turnkey apartment not only helped the family of five get the most out of the summer – the furniture also prevented the Slavs from taking the risk of exposure to COVID-19. They didn’t have to go to stores or interact with delivery men, removals, and furniture fitters.
“We wanted to tone that down,” said Nicole, 39, a Century 21 real estate agent, of the need to avoid contact with strangers during the pandemic.
“It was a breeze … we really liked what they had,” said Josh, a 44-year-old derivatives trader, of the display decor, which includes a coffee table in Article’s living room, a cutout from CB2. and a room and board bed in the master bedroom with custom bedside tables by Melanie Morris Interiors. “It really worked out.”
Moving to furnished apartments has long brought relief to residents such as short-term renters, job seekers, and second home owners who value efficiency. But turnkey living in the three-state region has become even more in demand during the pandemic. Real estate sources tell The Post that they are selling and renting more of these adorned units – if they don’t make more inquiries about them – than they had before.
The townhouse at 117 W. 21st St. is also equipped with a Melt Gold pendant lamp by Tom Dixon.Evan Joseph photo
“Before, it was one in 50 people who called … and most of it was [for] the short term [rentals]”Said Joshua Young, vice president of Market Rate Operations at Clinton Management, who oversees leasing at the 554-unit-level Williamsburg rental.
Today he said that “demand has … doubled” and every 20th to 25th caller asks for fully furnished, short-term leases.
In Level, a roughly 1,400 square meter apartment with three bedrooms and three bathrooms was rented to roommates who had received a dining table, coffee tables and additional lighting – with labels such as Anthopologie, West Elm and Design Within Reach – a concession for the amount from $ 11,000 per month. Young said that group snapped the deal for the sake of efficiency, but he added that other potential renters have requested furnishings because of the pandemic. Like toilet paper and flour, the outbreak affected the nation’s furniture supply.
One of the rental units at level in Williamsburg is the Jens Chair (left) from Design Within Reach (USD 1,795). The Avec sofa (right) from CB2 at Level is priced at $ 1,599.Ground curry
“Everything is secure – it’s very difficult,” said Young, not just for residents. He added that his team had to cobble together display items stored from previous model units in order to run this recently established rental.
Lockdown meant Americans were spending more time at home than ever before. Large numbers of people took this opportunity to redecorate – and after stores closed, customers went online to shop.
Home decor sales – from companies like West Elm, Crate & Barrel and Joybird – have skyrocketed since the spring, according to Rakuten Intelligence, which tracks online shopping behavior. In September sales reached a high of 69.1 percent compared to the previous year. According to the latest available data, sales in October increased 53.6 percent compared to October 2019.
The vintage popcorn cart at 117 W. 21st Street is available for $ 180 on Amazon.nostalgia
The enormous incoming orders clogged the shipping services. Companies like Article and Bed Bath & Beyond have suffered delivery delays. Worse, the pandemic halted production around the world.
“We’re absolutely seeing a tremendous slowdown and lag,” said Cheryl Eisen, CEO of Interior Marketing Group (IMG), an interior design and marketing firm known for its luxury real estate staging.
A townhouse-style condominium at 117 W. 21st St. in Chelsea, a 5,644-square-foot triplex that was marketed by John Gomes of Douglas Elliman for $ 7.5 million, sold 70 percent of the furniture on display amid the pandemic . (The retail price was not included in the city records. The furniture – with labels such as Modway and CB2 – was sold for an additional and undisclosed sum.) It is one of more than 50 IMG-staged homes in NYC to sell furnished this year were. from 37 in 2019.
“We’re seeing an increase, and for obvious reasons,” said Eisen. With COVID-19 cases soaring to a 7-day average of 3 percent, many residential buildings are limiting the number of outsiders – like delivery services – who enter, making the furniture problem even worse.
While COVID remains a major problem, some homeowners are just too busy waiting for furniture.
Vicki Schneps-Yunis bought a turnkey unit in the Ritz-Carlton Residences on Long Island.Tamara Beckwith
“It was really to my liking,” said Vicki Schneps-Yunis, the president and co-editor of Schneps Media, whose interests in New York and Dan’s Papers include, and bought a fully furnished 230-unit model unit at the Ritz-Carlton Residences in North Hills , LI she will keep as her primary residence. “It was quality, it was elegant – [and] it was done! So I would like to get on with my life. “
She grabbed the unit in the spring (available condos range from $ 1.8 million to $ 4.9 million). But the fact that her two-bedroom layout included tables, dressers, and beds – furniture she couldn’t get on her own due to her hectic work schedule – made it a must-have.
“All I have to bring is a toothbrush,” she said.
Schneps-Yunis quickly got super chic furniture.Tamara Beckwith / NY Post
It is one of five turnkey model residences that have closed since March, according to Joe Graziose, executive vice president of housing and construction at RXR Realty who developed the Ritz-Carlton Residences.
ARO, a 426 unit rental at 242 W. 53rd St., has also seen increased interest in furnished homes while the headache of ordering furniture firsthand has emerged.
This week a penthouse on the 65th floor was set up for $ 19,500 per month that was set up, or $ 16,200 without all fixings. Hilary Feshbach, partner at Algin Management who developed the building, wants to test it. After all, it took three months for the couch to be delivered.
If a tenant wants to move in with their own furniture, that’s fine, said Feshbach. “We’ll … move the furniture to another unit – and then we won’t have to wait three months for another couch.”