Want to know something about a New York neighborhood? Ask a real estate agent. From local hot spots to up-and-coming restaurants, you can count on an agent to know all the ins and outs of a neighborhood. Warburg Realty’s Jeremy Kamm certainly has the inside scoop on Manhattan’s Lower East Side. With three years in the business, he’s breathing new life into the New York City real estate scene. I recently spoke with the Lower East-sider to find out where he thinks the market is going and learn about his favorite things to do and places to eat in the city.
What did you do before real estate and why do you like real estate now?
I joined my family’s retail business right out of college and was responsible for retail sales, wholesale buying and merchandising. I was the operations manager. Since high school, I had dreamed of going into real estate but got wrapped up in the family business and helped it grow. Once I felt that we had reached a ceiling, I knew it was time to move on to my true passion. Real estate encompasses so much of what I enjoy.
What do you like about being a broker at Warburg?
Direct access to a brilliant executive team, as well as in-house marketing and PR teams. Warburg functions with an intimacy between departments that is unlikely to be replicated. Our CEO and sales director are always reachable for sage and valuable advice and guidance no matter how big or small the deal. Our marketing and PR teams are bar none and afford many opportunities that might otherwise be out of reach.
How do you know you’re working with the right brokers?
Buyers and sellers always want to be reassured that they are working with the right broker. While in theory, the “right broker” is the broker who will get the job done, the client-broker relationship requires communication, patience, trust, diligence and teamwork. There is a camaraderie that naturally develops—we, as brokers, are guiding buyers and sellers through the purchase and sale of their homes. This is not only a matter of business and finance but also something extremely personal.
Working with the right broker means trusting that broker to represent your interests to the fullest extent. They are a broker that you must enjoy working with and have absolute trust to guide you responsibly and effectively.
How has business been since the market reopened?
Extremely busy. My buy-side business is on fire. [But], there are some sellers who still don’t understand the importance of pricing. The No. 1 way to fail at selling right now is to be overpriced. Even when there seems to be a shortage of competition due to a lack of inventory, we are still very much down 10% from 2015-2016. The asking price must reflect that.
What’s one prediction about the real estate market in New York City for the rest of the year?
Busy. I think the market is going to remain quite active for the next several months. It may start to relax in the fall, but it will likely remain active until the holidays once the weather starts to shift. Even then, I think we’ll have a good winter once those who are waiting for the insanity to die down feel it’s a more comfortable environment to enter the marketplace. The current market is not for everyone to navigate. It’s hard for buyers out there now.
What was a recent restaurant you went to with a client that you really loved and why?
Il Mulino Downtown. I really love taking clients to quintessential classic New York restaurants that stand the test of time. Il Mulino is as relevant today as ever. The food and experience always deliver.
What’s your favorite thing to do in New York?
My favorite thing to do in New York is all things food. In addition to my love for trying new restaurants and experiencing new approaches to food; one of my favorite New York pastimes is strolling through the city with my dog. New York is a city where you are constantly coming into contact with new and interesting people. One of the easiest ways to strike up a conversation with a stranger is on a dog walk. It serves as that comfortable icebreaker to engage in authentic conversation with someone that you might otherwise never have the fortune of meeting.
What are the best hot spots in your neighborhood?
The new Essex Crossing development is an amazing addition to the Lower East Side. The vast cuisines and different markets are absolutely incredible. When you speak to the owners of the various establishments, you sense how passionate they are about their food; it is hard to find something that doesn’t score a 10/10. My picks:
- For brunch, I am a huge fan of Clinton St. Baking Company.
- Jajaja is a staple for me. It is vegan Mexican fare with a great cocktail list. The food is incredible, and you would never even know that it is vegan.
- I am a sucker for Korean BBQ. 99 Favor Taste may not be “trendy” in your typical sense of the word, but it is always packed, and the food (and value) is fantastic.
- Russ & Daughters and Katz’s Deli will forever be Lower East Side institutions.
- I recently went to Bowery Meat Company—a new take on your traditional steakhouse. It is most definitely a scene, but unlike many of the trendier restaurants you’ll visit, the food here really delivers.