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Is $1.46M Enough to Retire in NYC?


April 10, 2024

What Up Family?

Welcome to The Edit with Aaron Seawood, a lifestyle letter serving a weekly dose of real estate, culture, and wisdom—all in three minutes or less. Let’s dive in. 

 

Real Estate Remix 

Who else saw this headline over the weekend: “$1.46M is the magic number for retirement”? When I saw this come through, my first reaction was, “Where?!” Because in NYC, there’s no way that could be the case! (Nor would I imagine it would work in SF, San Diego, Miami, or Chicago either…). The poll by Northwest Mutual seems to have considered every demographic (age, gender, income) except arguably the most important…city of residence! It’s interesting when you consider this alongside the growing trend of aging in place. Many Americans opt to stay in their homes instead of selling their most significant asset (their home) and moving into assisted living. Without the capital from selling, I wonder how this will impact Americans’ retirement plans. I’d love to pick your brains on this from all angles. Is $1.46M enough to retire in NYC? 

 

NYC Insider: What’s Happening This Week 

The Whitney is one of my favorite museums—it’s rooted in a future vision and is always ahead of the curve when it comes to themes and trends in the art world. This year’s Whitney Biennial, subtitled ‘Even Better Than the Real Thing,’ features artists who explore the relationships between mind and body and the natural versus constructed world. The exhibit will also touch on AI, exploring how it complicates our relationship with reality. It opened in late March and runs until August 11th. I’ll hit it up at least once—let me know if you want to join! Tickets & info are here

 

Weekly Gem 💎

Go SLOW to go Fast.  

If you’re moving through life so fast that you can’t process what’s in front of you, you’ll crash…badly. In my earlier years, I was often accused of being a speed racer, moving too fast when I needed to slow down and appreciate what was in front of me. As the leader of Carte Blanche, I make it a point for us to slow down to take stock of what’s working and what’s not so we can maximize the moment. Going slow doesn’t mean a lack of full effort, being tenacious, or going after it. It simply means being aware that moving with reckless abandon can create irreparable harm, torpedo timelines, and possibly even burn bridges. 🙋🏽‍♂️So take it from me: go slow to go fast. It’s the fastest way to get there.

 

Remodeled Brooklyn Triplex on the Columbia St Waterfront  

Listing courtesy of my Compass colleague, Lisa Lonuzzi  

An amazing Brooklyn townhome I’m featuring today—$2.65M for a 2,601 SF renovated townhome. 10 Carroll St offers a three-bedroom duplex plus a large one-bedroom floor-through apartment. Rent it out for additional income, or make it into your own for extra space. Here’s what else it offers: 

  • The chef’s kitchen features custom cabinetry, marble countertops, a 48” Wolf range, a walk-in pantry, and a wine fridge.  
  • A private and spacious outdoor deck outfitted with an additional outdoor kitchen. 
  • Radiant heated floors, split units for central air conditioning, and reclaimed barn floors.
  • Who wants a tour?

 

 

Before you go…

🚶🏽: A list of the coolest streets in the world. Can you guess which BK neighborhood made the list? 

🎬: Watch these hilarious home tours given by agents on TikTok. 

🛝: NBA star Tony Parker’s 53-acre estate just listed for $16.5 million. It even has a private water park! This crib is stunning; my kids would go crazy! 

🎵: J. Cole dropped a mixtape, Might Delete Later, with some heaters, including Ready ‘24 feat. Cam’Ron and… an iffy response to Kendrick Lamar in 7 Minute Drill (which he apologized for).  With all his GOAT talk, what are your thoughts?

🇮🇹: The best way to experience Italy might be by vintage train?! 

 

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Looking to Buy, Sell, or Rent? Let’s talk.

 

Like I ask GOD every day, who can we help next? 

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