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Real Estate Investing in New York by Christina Kremidas - Negotiating Strategically? Consider the Appraisal First.

Negotiating Strategically? Consider the Appraisal First.

04/24/25 • 63 min

Real Estate Investing in New York by Christina Kremidas

Welcome back to Real Estate Investing in New York with me, Christina Kremidas. In this episode, we are talking about how to maximize your property's value by leveraging the appraisal, a critical part of the purchase and sale process that can make or break your transaction in the competitive New York market.
About the Host:

Christina Kremidas is a lifelong New Yorker who brings her extensive background in advertising to her successful real estate career in Manhattan. Her personal experience as a property investor and landlord in New York City gives her unique insight into her client's needs, while her negotiation expertise and market knowledge have quickly established her as a top-performing agent, ranking among the top 1.5% of licensed Agents in the United States for Sales Volume and among the Top 10 highest producing Small Teams at Douglas Elliman Real Estate.
Beyond her professional achievements, Christina is deeply involved in the NYC community. She is a founding Steward at St. Nicholas Greek Orthodox Church and National Shrine at the World Trade Center, where she serves on the Parish Council and leads social media, marketing, and young adult initiatives.
Get in touch with Christina:
Instagram: https://www.instagram.com/christina.kremidas
TikTok: https://www.tiktok.com/@christina.kremidas
Check out my website: https://christinakremidas.com/
Email me: [email protected]
What Is Your Property Worth?: https://christinakremidas.com/home-valuation
The Virtual Agent Experience: https://christinakremidas.com/virtual-agent
Timestamps
0:00 Andrew Goodman of Gotham Valuation Introduction
1:46 What an appraisal is and its importance in the mortgage process
3:34 When sellers or buyers should proactively call an appraiser before the bank does
7:39 Personal bias in appraisals versus market reactions to property features
9:49 Using appraisals strategically in negotiations to provide reality checks on pricing
12:34 What to do when an appraisal comes in under the contract price
21:54 The law of diminishing returns on renovations
27:02 How outdoor space affects property value
31:21 The impact of views on property value
35:03 Duplex apartments and how they impact property value
37:45 The value of ceiling height in apartments
39:17 Whether adding bedrooms or bathrooms increases property value
42:03 Impact of building amenities on property value, especially in remote locations
44:20 How subway proximity affects property values in different neighborhoods
47:41 Considerations for land lease buildings
50:53 The value of in-unit laundry versus building laundry facilities
57:11 Limitations of using price per square foot as a valuation metric

Disclaimer: All information provided by Christina Kremidas and/or Douglas Elliman is furnished strictly for educational and entertainment purposes only. Christina Kremidas is licensed in the State of New York. Some concepts discussed here may not be relevant in other states. The principles covered here are general statements, every concept mentioned here may not be applicable to you. Christina Kremidas/Douglas Elliman is not making any legal or financial recommendations. You agree that use of the information contained in any content provided by Christina Kremidas and/or Douglas Elliman is at your own risk.

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Welcome back to Real Estate Investing in New York with me, Christina Kremidas. In this episode, we are talking about how to maximize your property's value by leveraging the appraisal, a critical part of the purchase and sale process that can make or break your transaction in the competitive New York market.
About the Host:

Christina Kremidas is a lifelong New Yorker who brings her extensive background in advertising to her successful real estate career in Manhattan. Her personal experience as a property investor and landlord in New York City gives her unique insight into her client's needs, while her negotiation expertise and market knowledge have quickly established her as a top-performing agent, ranking among the top 1.5% of licensed Agents in the United States for Sales Volume and among the Top 10 highest producing Small Teams at Douglas Elliman Real Estate.
Beyond her professional achievements, Christina is deeply involved in the NYC community. She is a founding Steward at St. Nicholas Greek Orthodox Church and National Shrine at the World Trade Center, where she serves on the Parish Council and leads social media, marketing, and young adult initiatives.
Get in touch with Christina:
Instagram: https://www.instagram.com/christina.kremidas
TikTok: https://www.tiktok.com/@christina.kremidas
Check out my website: https://christinakremidas.com/
Email me: [email protected]
What Is Your Property Worth?: https://christinakremidas.com/home-valuation
The Virtual Agent Experience: https://christinakremidas.com/virtual-agent
Timestamps
0:00 Andrew Goodman of Gotham Valuation Introduction
1:46 What an appraisal is and its importance in the mortgage process
3:34 When sellers or buyers should proactively call an appraiser before the bank does
7:39 Personal bias in appraisals versus market reactions to property features
9:49 Using appraisals strategically in negotiations to provide reality checks on pricing
12:34 What to do when an appraisal comes in under the contract price
21:54 The law of diminishing returns on renovations
27:02 How outdoor space affects property value
31:21 The impact of views on property value
35:03 Duplex apartments and how they impact property value
37:45 The value of ceiling height in apartments
39:17 Whether adding bedrooms or bathrooms increases property value
42:03 Impact of building amenities on property value, especially in remote locations
44:20 How subway proximity affects property values in different neighborhoods
47:41 Considerations for land lease buildings
50:53 The value of in-unit laundry versus building laundry facilities
57:11 Limitations of using price per square foot as a valuation metric

Disclaimer: All information provided by Christina Kremidas and/or Douglas Elliman is furnished strictly for educational and entertainment purposes only. Christina Kremidas is licensed in the State of New York. Some concepts discussed here may not be relevant in other states. The principles covered here are general statements, every concept mentioned here may not be applicable to you. Christina Kremidas/Douglas Elliman is not making any legal or financial recommendations. You agree that use of the information contained in any content provided by Christina Kremidas and/or Douglas Elliman is at your own risk.

Previous Episode

undefined - NYC’s Biggest Real Estate Deal May Be Hiding in It’s Office Buildings

NYC’s Biggest Real Estate Deal May Be Hiding in It’s Office Buildings

About the Guest:
Avery Reavill is an experienced deal maker in New York City working diligently for both tenants and owners. Avery’s thoughtful approach with consistent communication will give you the confidence and support needed to navigate all transactions in the commercial market.
Prior to joining Okada & Company, Avery worked as a Tenant Representative at Gold Properties NYC. This foundation exposed him to a variety of business owners, all facing unique challenges when searching for a space to best facilitate their growth. Avery’s proactive mindset helps deliver positive results to all his clients.
About the Host:
Christina Kremidas is a lifelong New Yorker who brings her extensive background in advertising to her successful real estate career in Manhattan. Her personal experience as a property investor and landlord in New York City gives her unique insight into her client's needs, while her negotiation expertise and market knowledge have quickly established her as a top-performing agent, ranking among the top 1.5% of licensed Agents in the United States for Sales Volume and among the Top 10 highest producing Small Teams at Douglas Elliman Real Estate.
Beyond her professional achievements, Christina is deeply involved in the NYC community. She is a founding Steward at St. Nicholas Greek Orthodox Church and National Shrine at the World Trade Center, where she serves on the Parish Council and leads social media, marketing, and young adult initiatives.
Get in touch with Christina:
Instagram: https://www.instagram.com/christina.kremidas
TikTok: https://www.tiktok.com/@christina.kremidas
Check out my website: https://christinakremidas.com/
Email me: [email protected]
What Is Your Property Worth?: https://christinakremidas.com/home-valuation
The Virtual Agent Experience: https://christinakremidas.com/virtual-agent

Timestamps

0:00 Avery Reavill introduction and background
2:52 Debunking the stigma around commercial properties and discussing current market opportunities
6:04 How banks and property owners are handling commercial real estate loans
10:11 How landlords are renovating spaces to attract new commercial tenants
15:22 How to find good commercial property deals and the importance of working with a broker
18:16 The Midtown South rezoning plan and its impact on the Garment District
27:23 Why having a commercial real estate expert on your team is valuable
43:51 Which NYC neighborhoods currently offer the best commercial real estate deals

Next Episode

undefined - What Your Real Estate Attorney Should Be Asking

What Your Real Estate Attorney Should Be Asking

Jonathan Movtady graduated from the University of Florida in 3 short years with a Bachelor of Arts in Business Administration. He also studied International Business, while living abroad, at Universitat Autonoma de Barcelona. After that, he earned a Juris Doctor at the University of Miami School of Law. Shortly thereafter, Jonathan was admitted to the New York & New Jersey Bars in early 2011. Jonathan has been practicing Real Estate Law ever since. Cl

About the Host:
Christina Kremidas is a lifelong New Yorker who brings her extensive background in advertising to her successful real estate career in Manhattan. Her personal experience as a property investor and landlord in New York City gives her unique insight into her client's needs, while her negotiation expertise and market knowledge have quickly established her as a top-performing agent, ranking among the top 1.5% of licensed Agents in the United States for Sales Volume and among the Top 10 highest producing Small Teams at Douglas Elliman Real Estate.
Beyond her professional achievements, Christina is deeply involved in the NYC community. She is a founding Steward at St. Nicholas Greek Orthodox Church and National Shrine at the World Trade Center, where she serves on the Parish Council and leads social media, marketing, and young adult initiatives.
Get in touch with Christina:
Instagram: https://www.instagram.com/christina.kremidas
TikTok: https://www.tiktok.com/@christina.kremidas
Check out my website: https://christinakremidas.com/
Email me: [email protected]
What Is Your Property Worth?: https://christinakremidas.com/home-valuation
The Virtual Agent Experience: https://christinakremidas.com/virtual-agent
Timestamps
0:00 Jonathan Movtady Introduction
5:49 What due diligence entails
8:13 Analyzing building financials
14:11 Key factors in building financial health and detecting warning signs
21:11 Special considerations for new development buildings and litigation risks
28:28 Consequences of inadequate due diligence and potential financial impact
31:00 Christina's personal story of poor due diligence experience
50:22 Sponsor ownership concerns and important questionnaire topics

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