As we head into the last month of Q1 we are thrilled to feel and see our city coming back to life! Along with the increased energy and warmer weather, we are also beginning to see the Manhattan real estate market heat up. We attribute this to pent up demand, low interest rates, a robust stock market, optimism about the vaccine, stimulus dollars to help small businesses, and meaningful discounts! The market started to pick up in October and has continued to strengthen each month. The number of contracts signed is up 31% compared to this time last year. With 40 contracts signed at $4M+ the last week of February 2021, the weekly contracts signed for the manhattan luxury market are in line with August 2016 (considered to be the last peak of the market). With more appointments scheduled, more buyers making offers and more sellers willing to negotiate, we aren’t surprised the number of new contracts signed jumped 167% last month to 518, compared to 194 the previous year. With high demand and lower inventory, days on market are also beginning to drop. We are excited about the increase in activity and look forward to the the Spring with great optimism. |
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Read on to learn more about: New Dev: 427 East 90th & Asphalt Green Minority Owned Restaurants in NYC! Celebrity Real Estate Rundown Trending: 3D Printed Homes Update on the Luxury Market Our Listings
Enjoy our Monthly Take! |
What we like most about this Upper East Side new development is its charming Parisian touches and the seamless connection between indoors and outdoors that architect Gil Even-Tsur achieved in his design.
427 East 90th has 21 homes, ranging from 1 to 3 bedrooms priced from $995,000 to $2,995,000. Each unit has a glass balustrade with French casement windows that open inward as well as open kitchens with white lacquered cabinetry and bathrooms with Statuarietto honed walls and floors. Some units have private terraces as well. The building's amenities include a r ooftop deck, f itness center, and a Central Park themed children's playroom. Residents are also offered a special membership package to Asphalt Green. Just one block away, Asphalt Green includes a members only locker room, steam room, sauna, 1.5 acre turf field, 50 meter olympic pool, and weekly fitness classes.
Contact us for additional information! |
Highlight on Minority Owned Restaurants in NYC! |
Check out these amazing minority owned restaurants in NYC, offering dishes inspired from around the world. |
The Bun Hut Located in the heart of the Lower East Side, Co-owner and chef Kermit “Ray” Mackey incorporates Jamaican, West Indian, and Bahamian dishes in his menu. Mix up your go-to take out and try their sticky jerk chicken or spiced pulled jackfruit, and top your meal off with their creative island inspired deserts. |
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GupShup Inspired by old Bombay, Chef Gurpreet Singh uses traditional Indian flavors with a twist, creating his own version of a new Indian cuisine for Manhattanites. A cocktail from the restaurant's award winning designed cocktail bar is the perfect compliment to your meal. |
Ju-Men Ramen BarThe Executive Chef Jun Park at Jun-Men Ramen Bar has created a charming spot for ramen lovers to indulge. Jun-Men, meaning pure-noodle, is located in Chelsea, offering Japanese dishes that are re-invented with unique twists from Italian and French cuisines. |
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Your Celeb Real Estate Rundown |
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'Good Wife' Star Christine Baranski has purchased a $2.2 million 4 bedroom Upper East Side co-op. The apartment needs a renovation but has a lot of old school charm including a cozy bedroom fireplace. |
Fashion Designer and record label founder Russell Simmons' penthouse has hit the market for $5.5 million. The 7,200 sq ft duplex was on the market before in 2018 but now is being listed with a $3 million price drop. Simmons renovated the apartment which includes a 3,500 sq ft private terrace. |
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This past year we have relied on technology more than ever in the real estate industry. Virtual showings, Matterport 3D models and online tours became par for the course. Technology is not only weaving its way into the way that we sell homes, but also in the way that we build them.
Mighty Buildings, a startup that builds homes using 3D printing and robotics, is a testament to this technology boom. After raising $70 million, this California based company has gone to work on over a dozen projects. Mighty Buildings prints 3D panels that can be assembled on-site with no painting or finishing needed. 3D printing is the future for building more quickly efficiently, and sustainably. |
How is the Luxury Market?
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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? |
2 Bed | 2 Bath | $1,345,000 | Sold
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© 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.
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