Monthly Take - October 2022

OCTOBER 2022  MANHATTAN  MONTHLY TAKE Historically, July and September are the worst months in the luxury market, and the 3rd quarter is typically the worst quarter of the year. Surprisingly, given rising interest rates and a tumbling stock market, this September has managed to ink 80 signed contracts in the $4mm+ market. This performance is on par with previous Septembers, with the exception of the outlier years of 2020 and 2021 which experienced extreme lows and highs.  Could it be that buyers with cash are seeing an opportunity to invest in residential real estate while there is so much uncertainty in the financial markets? We can never time markets perfectly, but we do know our market is down from the height and this could be a interesting time to jump in!  Want to discuss the market in more detail, schedule a call here.   Read on to get our OCTOBER TAKE on: ✦ New Construction: The Rockwell 2686 Broadway ✦ Food News: UES Restaurant Buzz ✦ Celeb Real Estate ✦ How to Choose Wallpaper Let's talk soon! Stacey and Julie The Rockwell  2686 Broadway (between 102nd and 103rd Ave.) ✦ Developed by Toll Brothers ✦ Hill West Architects ✦ 81 condominiums ✦ Studio to 3 bedroom layouts ✦ Amenities include:  24-hour attended lobby residential lounge landscaped outdoor terrace private dining room fitness center children’s playroom screening room music room pet spa rooftop terrace with barbecue grills & fire pit ✦ Completion expected Spring 2024 (Pricing & additional details not available yet) If you would like to learn more about this property schedule a call here. Upper East Side  Restaurant Buzz Our Fall 2022 restaurant news is about what's new as well as hidden gems we missed (aka who opened during covid) and who is expanding. Take a look and start making your reservations. NEW: Atelier & The Kings Speech  - 1300 Madison Avenue (btwn 92nd and 93rd Street) ✦ The owners of Carnegie Hill favorite Vicolina have opened Atelier, a petite sized Mediterranean eatery with a secret doorway that opens into a cozy speakeasy called The King's Speech. ✦ Atelier is open for breakfast, lunch and dinner. The menu includes items such as shakshouka, falafel and a fattoush salad that looks delicious.  ✦ The King's Speech opens at 5:30 pm.  Pama Nuova - 1404 Third Avenue (@80th Street) ✦ Re-invented and now co-owned by La Masseria Group and Giorgio Manzio (formerly of Bella Blu and La Masseria).  ✦ Tastes inspired by the city of Parma, Italy with a modern twist; dishes include in-house fresh made daily pasta (gluten free available), grilled seafood, brick pressed Cornish hen and Italian family recipes for dessert. ✦ Interior redesigned by Libby Langdon.  Flex Mussels: 1431 Third Avenue (81st Street) ✦ After 15 years, Flex Mussels has moved and expanded to the former location of Beyoglu. ✦ 160 seats on two floors. ✦ Highlights include the crudos and ceviches made with local fish plus expanded selection of oyster varieties and mussels prepared 10 ways.  ✦ Fun fact: They have hired Patrick McMurray, a Canadian expert who is said to hold a world record for his shucking speed.  Celeb Real Estate Rundown Billie Holiday's former townhouse: ON THE MARKET for $13.9 million - 26 West 87th Street Spanning more than 6,300 square feet, this 20-foot wide townhouse is six levels featuring 7 bedrooms, 6 full bathrooms and 2 powder rooms along with a curated backyard garden. Aerin Lauder: SOLD 660 Park Avenue for $19.5 million In one of the most exclusive co-ops on Park Avenue, Lauder's apartment  is known for its Jacques Grange–designed rooms. The full floor home has 4 bedrooms and 4 1/2 baths plus a gallery, library and a butler's pantry.  Melissa McCarthy & Ben Falcone: BOUGHT at the Grand Mulberry at 185 Grand Street for $6.94 million The 2,400-square-foot condo includes three bedrooms, a wraparound terrace and an open-plan kitchen. There is also a keyed elevator entry, white oak flooring and heated bathroom floors. Wallpaper WORKS! Wallpaper can literally change the feel of a room. Turn an ordinary room into eye catching memorable space. Feels too risky? Today's peel-and-stick wall paper options take the fear of trying wallpaper off the table. Read on to learn more... Wallpaper works in your Powder Room... Pick the perfect small space to go big with color, patterns or unique textures. This can also be fun on the ceiling. Fave resources: Schumacher Serena & Lily Hygge & West Removable Wallpaper works... Today's removable wallpaper is the perfect solution if you're not ready to commit. Its also very helpful if you are renting or would like to use wallpaper for small, hard-to-get-to spaces like a bookshelf or backsplash.  Fave resources:  Chasing Paper Wallshoppe Livette's Wallpaper Wallpaper that works like a chalkboard, a magentic surface or a giant whiteboard! Technology meets design turning your favorite wall into a magnetic surface, a chalkboard or a dry erase surface.  Fave resources:  Magscapes Writey Pottery Barn 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.  You can schedule a call here. Which Kanbar Kopel Team Listing is your Favorite? Coming Soon For more information on these  coming soon properties, schedule a call here. 120 East 87th Street, Apt. R6A 2 Bed | 2 Bath | Coming Soon - Rental Active 440 East 79th Street, Apt. 15E 2 Bed | 2 Bath | $1,349,000 | Active 16 Sutton Place, Apt. 19B 4 Bed | 4 Bath | $1,595,000 | Active 205 East 63rd Street, Apt. 7B 3 Bed | 2 Bath | $995,000 | Active In Contract 382 Central Park West, Apt. 14K 1 Bed | 1 Bath | $1,149,000 | In Contract 203 East 72nd Street, Apt. 11C 1 Bed | 1 Bath | $965,000 | In Contract 250 East 87th Street, Apt. 23J 1 Bed | 1 Bath | $725,000 | In Contract Just Sold 33 East 70th Street, Apt. 10/11D 8 Bed | 7 Bath | Sold 1175 Park Avenue, Apt. 4A 5 Bed | 4 Bath | Sold 14 East 90th Street, Apt. 9D 3 Bed | 2.5 Bath | $3,547,500 | Sold 401 East 86th Street, Apt. 2HJ/3J 5 Bed | 5.5 Bath| $3,403,501 | Sold 1000 Park Avenue, Apt. 7B 3 Bed | 3 Bath | $2,770,000 | Sold 310 West End Avenue, Apt. 7C 3 Bed | 3.5 Bath | $2,675,000 | Sold 400 East 70th Street, Apt. 304/5 2 Bed | 2 Bath | $1,660,000 | Sold 315 Riverside Drive, Apt. 11B 2 Bed | 2 Bath | $1,575,000 | Sold 230 East 50th Street, Apt. 10AB 4 Bed | 2.5 Bath | $1,550,000 | Sold 130 East 94th Street, Apt. 9B 2 Bed | 2 Bath | $1,495,000 | Sold 508 Waverly Avenue, Apt. 6 2 Bed | 2 Bath | $1,450,000 | Sold 49 East 96th Street, Apt. 4A 2 Bed | 2 Bath | $1,350,000 | Sold 200 Cabrini Boulevard, Apt. 112 1 Bed | 1 Bath | $850,000 | Sold 301 East 79th Street, Apt. 30R 1 Bed | 1 Bath  | $845,000 | Sold Just Rented 43 West 64th Street, Apt. PH9D 2 Bed | 2 Bath | $12,500/month | Rented 320 West 90th Street, Apt. 1D Studio | 1 Bath | $2650/month | Rented NYC Team Listings © Compass 2022 ¦ 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. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. marketingcenter-newyorkcity-manhattan