Monthly Take - July 2025

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JULY 2025 MANHATTAN MONTHLY TAKE

It was a very busy first half of the year even with higher interest rates, which are likely to come down in the second half of the year—all indicators are pointing in that direction. After all the initial shock of the mayoral primary election, what followed wasn’t calm reflection but rather sensationalism. Now we need to get to work! One important takeaway from candidate Mamdani’s campaign that is worth noting: New York has had rent control for decades, and yet housing costs have only risen. The facts show, and the vast majority of economists agree, that rent freezes don’t work—building more housing does. Just look at the city of Austin, where increased supply led to a 20% rent drop. While politicians peddle grand promises and “freebies” to win votes, the hope is that most New Yorkers are smart enough to separate noise from substance. We need someone with real experience, someone who truly understands the complexities of this amazing city, and someone who will unite New Yorkers, not divide them with extremism. The election is still 4 months away. We have a lot of work to do, but it can be done… Wishing everyone a Happy 4th!

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Read on and get our JULY Take: ✦ New Development Spotlight: 80 Clarkson Street ✦ Food News: 3 New Restaurants out East! ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: Manhattan Secret Oases Let's talk soon! Stacey and Julie

New Development Spotlight 80 Clarkson Street (btwn West and Washington Street) ✦ Developer: Zeckendorf, Atlas Capital, and the Baupost Group ✦ Designer: COOKFOX and SLCE Architects ✦ Two towers: 37 and 45 stories each, 100 Condo Apartments ✦ Amenities include a porte-cochère, fitness center, swimming pool/spa, sauna/steam, several lounges, game room, squash court, music studio/recording rooms, sports simulator, screening room, kids room, library, amenity kitchen/dining room, private restaurant on the third floor, storage units, wine cellars, and 105 on-site parking spaces will be available for separate purchase. ✦ Prices begin at $4.9M+ ✦ Slated date of completion December 2026 *Photo credits to the building website

New Dining out East

As always, the Hamptons is heating up this summer with some exciting new dining spots. ✦ Bagatelle: A chic French-Mediterranean restaurant at historic Gosman's Dock, offering signature Bacchanalian brunches and sunset dining by the water. @500 West Lake Drive (Montauk) ✦ Camp Rubirosa: The NYC outpost's signature thin-crust "Tie-Dye" pizzas, house-made pastas, and fresh seafood is now being offered up in an East Hampton, nostalgic summer camp-inspired pop-up. @31 Race Lane (East Hamptons) ✦ Fēniks: Chef Douglas Gulija's latest venture, Fēniks, offers a modern Mediterranean tasting menu at a sleek chef's counter, alongside an à la carte dining room and an upstairs lounge for cocktails and small plates. @75 Jobs Lane (Southampton)

Celeb Real Estate Rundown ✦ Rosie O'Donnell SOLD the PH at 255 East 49th Street for $4.75MM: The Striking Midtown East triplex features 4 bedrooms, a glass-walled dining area, and a private rooftop terrace with iconic skyline views. ✦ Lela Rose LISTS her loft at 46 White Street for $10.75MM: The dramatic 6,000 sf Tribeca triplex from 1865 features 5 bedrooms, 5.5 baths, skylit homework pods, sculptural stairs and luxe amenities like a dog elevator and motorized tables that rise into a 68-seat dining configuration. ✦ Jordana Brewster BUYS at 730 Park Avenue for $12MM: The beautifully renovated home, once showcased in Architectural Digest Italia, boasts a marble-floored foyer, a corner great room with dual fireplaces and Central Park views.

Manhattan Secret Summer Oases

A few hidden gems to escape to… ✦ Elizabeth Street Garden: A tranquil Nolita park filled with antique sculptures and greenery. Very recently slated for demolition, thank goodness it was saved and remains a beloved public space in one of our favorite NYC neighborhoods. ✦ East River Park: The southern section of East River Park officially reopened on May 29th, featuring 6 tennis courts, 2 full basketball courts, picnic/barbecue areas and a nature exploration zone connected via the new Delancey Street pedestrian bridge. ✦ Cooper Hewitt's Arthur Ross Terrace & Garden: This serene space provides a true respite from the hustle and bustle of our city- Open free to the public and does not require entry through the museum but rather on 90th street between 5th and Madison Ave. Set against the backdrop of the stately Carnegie Mansion, you will find tables, chairs, bathrooms, plus Tarallucci e VIno for a drink and snack!

How is the Luxury Market YTD? Residential Properties In Contract $4MM and above Source: Olshan Report Co-op June 2025: 174 June 2024: 144 Condo June 2025: 509 June 2024: 453 Condop June 2025: 13 June 2024: 10 Townhouse June 2025: 99 June 2024: 81 Total Contracts June 2025: 795 June 2024: 688 Avg. Price Reduction June 2025: 9% June 2024: 10% Avg. Days On Market June 2025: 663 June 2024: 666

Which Kanbar Kopel Team Listing is your Favorite?

Featured Coming Soon Listing

Upper West side 3 BD | 2.5 BA Upper West Side 2 BD | 2 BA

Featured Active Listing

1 5th Avenue, Apt. 5GH 2 BD | 3 BA | $4,395,000 | Active 400 East 67th Street, Apt. 3CD 4 BD | 4 BA | $3,295,000 | Active 401 East 86th Street, Apt. 15C 2 BD | 2 BA | $1,495,000 | Active 403 East 62nd Street, Apt. 7C 1 BD | 1 BA | $759,000 | Active 304 West 88th Street, Apt. 4B 1 BD | 1 BA | $550,000 | Active 56 Pine Street, Apt. 12E 1 BD | 1 BA | $499,000 | Active

Featured In Contract 860 5th Avenue, Apt. 11H 2 BD | 2 BA | $4,750,000 | In Contract 211 West 84th Street, Apt. 6E 2 BD | 3 BA | $3,675,000 | In Contract 33 West 67th Street, Apt. 6FE 3 BD | 2 BA | $2,600,000 | In Contract 200 East 66th Street, Apt. D1203 2 BD | 2 BA | $2,375,000 | In Contract 201 East 17th Street, Apt. 16H 2 BD | 2 BA | $1,340,000 | In Contract 62 East 87th Street, Apt. 5AB 2 BD | 2 BA | $995,000 | In Contract

Featured Transactions 4 East 77th Street 5 Stories | $16,000,000 | Sold 200 East 79th Street, Apt. 4B 4 BD | 5 BA | $5,395,000 | Sold 360 East 89th Street, Apt. 31B 3 BD | 4 BA | $4,375,000 | Sold 430 East 58th Street, Apt. 28A 3 BD | 4 BA | $4,300,000 | Sold 50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,250,000 | Sold 325 West End Avenue, Apt. 4A 4 BD | 4 BA | $3,712,500 | Sold 315 Riverside Drive, Apt. 11D 3 BD 3 BA 0 SF $2,500,000 91 Central Park West, Apt. 12E 2 BD | 2 BA | $2,475,000 | Sold 125 East 84th Street, Apt. 2A 3 BD | 3 BA | $2,395,000 | Sold 10 Madison Square West, Apt. 7H 1 BD | 1 BA | $1,950,000 | Sold 201 East 66th Street, Apt. 10M 2 BD | 2 BA | $1,825,000 | Sold 2025 Broadway, Apt. 7AB 3 BD | 2 BA | $1,400,000 | Sold 515 East 79th Street, Apt. 29B 2 BD | 3 BA | $1,325,000 | Sold 107 West 86th Street, Apt. 16A 2 BD | 2 BA | $1,295,000 | Sold 315 West 99th Street, Apt. 1B 3 BD | 2 BA | $1,200,000 | Sold

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Office: 646-982-0353 Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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