The NYC luxury housing market continues to break records, and the past 3 weeks have hit a historical high! During the weeks of 11/8 and 11/15, a record 60 and 67 contracts were signed, respectively, in the $4mm+ market. During the Thanksgiving week, 37 contracts were signed. Up from a 10-year average of 12, with a median asking price of $5.95 million, and an average discount from the original ask of just 2%, down from 4% the prior week.
With inventory contracting, it is not surprising that discounts are quickly diminishing. This may very well continue as the Fed reduces bond purchases, which will cause interest rates to rise. Will this lead to a rush to buy, so buyers can lock in historically
low, long-term rates? What do you think? |
Read on to learn more about: New Development: The Bloom 500 W 45th New Bakeries on the Upper Eastside Celebrity Real Estate Rundown Our Holiday Entertaining Ideas
Enjoy Our Monthly Take!
Stacey and Julie |
The Bloom: 500 West 45th
An oasis in NYC! |
The Bloom is a ground up new construction built in the heart of Hell’s Kitchen, designed by Marvel Architects. This full-service, luxury condominium, features a stunning 7-story facade of glass, steel, and reinforced concrete, producing luxurious light-filled interiors. Each of the 92 units, studios to four bedrooms, feature floor-to-ceiling windows with open floor plans. The custom-designed cabinetry fully integrates all appliances, blending the utilitarian kitchen with the living space, and ultimately maximizing every square foot. Some apartments include a private outdoor space, varying from a balcony to a terrace. Amenities in this full-service building include an 8,000 square foot private park-like elevated terrace located on the 2nd floor and set between the North & South towers, a lobby-level fitness center, two entertaining terraces with bbqs and a resident’s lounge. Individual storage space is available for purchase. The Bloom is open for on-site viewings and slated to begin closings Q1 2022. Prices start around $700K. Please reach out to us for additional information regarding this (or any other) NYC new development opportunity! |
New Artisanal Bakery Destinations on the UES |
The UES is now home to Patis’ fifth location. This sought after French American kosher bakery is known for its mouth watering breads, ice cream, macarons and stunning chocolates. 1311 Lexington Avenue/88th. |
|
|
|
Michaeli Bakery This lower east side destination will soon be a welcome addition to the UES. The irresistible chocolate babka alone is worthy of a visit, however the delicious Israeli-style burekas, rugalach and challah are certainly worth the visit too! Stay tuned for the grand opening on 90th/1st in the coming months. |
Julien Boulangerie The smell of Paris is back on the UES. Professional pastry chef, Julien, honed his craft in Paris and as an executive chef for Francois Payard. Customer favorites are the almond croissants and macarons. This unpretentious bakery offers aromatic breads, sandwiches and more.
1375 Madison Avenue/95th. |
|
The Celeb Real Estate Rundown |
|
|
Meara and Jerry Stiller’s UWS apartment just sold for $5M at 118 Riverside Drive. The prewar Riverside co-op is a combination of 2 units totaling 3700 sf and has 5 bedrooms, 4.5 baths with park and river views. The home also includes a private elevator landing, high ceilings, oversize windows, a sauna and Jacuzzi. |
Penn Badgley & his wife have bought a charming 3 bedroom, 2 bath in Park Slope, Brooklyn, for $1.825M ($100K over ask!) This rare corner unit includes a spacious foyer, combination living/dining room, and an updated windowed galley kitchen. Their new home boasts treetop views, a landscaped courtyard & a children's playroom. |
|
|
|
Orlando Bloom swiftly sold his 3 bed, 2.5 bath Tribeca loft in the landmarked Sugar Loaf Building, 155 Franklin, for $7.25M (all cash!) The fourth floor corner unit has classic details which include steel columns, wide-plank European oak flooring and wood beams throughout. |
Holiday Entertaining Tips |
Some simple suggestions to add to the joy of the holiday season! XOXO
|
Tip 1: Hostess gifts wrap & ready Whether its wine, chocolates or candles, stock up on hostess gifts this holiday season. No plans yet? Who cares! Invitations will come and you will be ready. Wrap gifts in advance with beautiful paper and ribbon, plus have a simple plain note card ready. Avoiding last minute scrambling is the best gift you can give yourself. Check out these hostess gift ideas from Vogue. |
|
|
|
We love real candles. But for those places that can't be monitored, there is no shame in going flameless. These LED battery operated candles have come so far. Enjoy a warm glow in every room with these safe options. Your guests and pets will thank you. Here are some of our favorites from West Elm. |
Tip 3: Make a signature cocktail Have a couple of your favorite drinks at the ready. You can check out some of these King St. Vodka recipes. All you need is one sweet, one savory, and maybe a wine option too! |
|
How is the Luxury Market?
|
Residential Properties $4M and Above |
Please feel free to reach out for a more in-depth look at neighborhood-specific market trends and data. |
Which Kanbar Kopel Team Listing is your Favorite? |
1 Bed | 1 Bath | Condo | Coming Soon
|
|
4 Bed | 3.5 Bath | $ 2,795,000 | Sold
|
|
Studio | 1 Bath | $625,000 | Sold
|
|
|
© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC
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.
marketingcenter-newyorkcity-manhattan
|
|
|
