Monthly Take - December 2022

DECEMBER 2022 MANHATTAN MONTHLY TAKE

Our market observations: ✦ We are seeing an uptick in buyer activity over the last couple of weeks. ✦ 15 contracts were signed last week at $4MM+ which is only 1 fewer than the 10-year average for Thanksgiving week. (*Olshan Report) Could these be signs that we have hit the bottom of this current downward trend? Inventory has slowed which is consistent with this time of year but is expected to increase in February as per previous years (Urban Digs). We look forward to seeing what 2023 brings! If you want to learn more about today's market set up a call with us here.

Read on and get our DECEMBER TAKE: ✦ New Construction: UES New Developments to Watch ✦ Food News: The Coziest Spots to Eat this December ✦ Celeb Real Estate Buzz ✦ Home Ideas: Who and What to Tip Let's talk soon! Stacey and Julie

UES Developments to Watch 985 Fifth Avenue (btwn 79th & 80th Street): ✦ Currently a 46-unit rental building developed by Bernard Spitzer in 1969 ✦ Future plan is for a 19-story, 26-unit, ultra-luxury condominium across 106,000 square feet ✦ Architect: SLCE Luigi Russo 260 East 72nd Street (@ Second Avenue): ✦ Future plan is for a 20-story condominium with 53 apartments across 190,000 square feet ✦ 3400 square feet of commercial space ✦ Developer: Joseph Chetrit We will keep you posted as these projects develop.

Cozy Restaurants

Cozy dining venues are just what you need to make it through winter in the city.

Angelina @ Saks At Saks Fifth Avenue this season, treat yourself to the Angelina pop-up cafe inside of L'Avenue. You will feel super warm sipping Angelina's delicious hot chocolate and tasting one of their famous pastries. Saks Fifth Avenue - 611 Fifth Avenue

Dowlings at The Carlyle Feel cozy and transported back in time while dining at Dowling's at the Carlyle. Executive Chef Sylvain Delpique (formerly of 21 Club) serves foods you crave like house made smoked salmon, roasted chicken with truffle jus and salt baked branzino. 35 East 76th Street

NR Ramen, cocktails and cozy go together at NR, a Japanese restaurant/lounge with a rustic, warm and comfortable decor. The Yuzu and truffle vegetable ramen paired with the Oaxaca Old Fashioned or a Japanese Toddy is our fav! 339 East 75th Street (btwn 1st and 2nd Avenues)

Celeb Real Estate Rundown

Late Ivana Trump Townhouse LISTED: $26.5M Built in 1869, the 10 East 64th Street townhouse has 5 floors, 5 bedrooms, 5.5 bathrooms across 8725 square feet. The Versailles inspired dining room with floor to ceiling windows overlooks a 700 square foot private courtyard.

Marilyn Monroe & Arthur Miller former home LISTS: $3.05M The 3 bedroom, 3½ bathroom Sutton place condo is located at 444 E. 57th St.. The 2,190 square foot prewar home has two woodburning fireplaces and partial East River views. Bill Blass and Martin Short are also former residents of the building.

SJP Former Home: 366 Broadway LISTS: $5.5M The 4 bedroom, 4 bath duplex Penthouse includes a 1,000+ square foot landscaped roof terrace with an outdoor kitchen, plus panoramic city views of the Empire State Building.

Holiday Insider Tip Guide Apartment building staff: Super/Resident Manager: $200-$600 Doorman, Elevator Man, & Concierge: $50-$200 Porter, Handyman, & Maintenance Staff: $20-$50 People who help care for your home, you and your kids: Housekeeper/cleaning person: 1-2 weeks of pay Full-time or part-time nanny: 1-2 weeks pay Babysitter: $25-$50 Tutors: 1 weeks pay Garage staff: $25-$200 Hairdresser and manicurist: Double your usual gratuity Dog walker: 1 weeks pay UPS or Fedex delivery staff: $25-$50 USPS Mail carrier: Federal regulations limit tips to mail carriers to no more than $20 Factors to consider when you are deciding on the amount: Staff seniority & length of service How long have you lived in your building How often does this person help you Size of your apartment and size of your building Other considerations that make your gift extra special: Extra crisp bills Give tips early December Include a holiday card and say thank you

How is the Luxury Market? Residential Properties $4M and Above Contracts Signed YTD Coop 2022 = 260 2021 = 316 Condo 2022 = 812 2021 = 1222 Condop 2022 = 5 2021 = 5 Townhouse 2022 = 128 2021 = 188 Total Contracts 2022 = 1205 2021 = 1731

Key Stats YTD

Avg. Price Reduction 2022 = 5.8% 2021 = 25.3% Avg. Days on Market 2022 = 553 2021 = 576

For a more in-depth look at neighborhood-specific market trends and data schedule a call here.

Which Kanbar Kopel Team Listing is your Favorite?

Active

16 Sutton Place, Apt. 19B 4 BD | 4BA | $1,595,000 | Active

Coming Soon

440 East 79th Street, Apt. 15E 2 BD | 2 BA | $1,299,000

In Contract

205 East 63rd Street, Apt. 7B 3 BD | 2BA | $995,000 | In Contract Just Sold

33 East 70th Street, Apt. 10/11D 8 BD | 7 BA | Sold 1175 Park Avenue, Apt. 4A 5 BD | 4 BA | Sold 14 East 90th Street, Apt. 9D 3 BD | 3 BA | $3,547,500 | SOLD 401 East 86th Street, Apt. 2HJ/3J 5 BD | 6 BA | $3,403,501 | SOLD 330 East 75th Street, Apt. 15BC 4 BD | 4 BA | $3,300,000 | SOLD 290 West End Avenue, Apt 8A 3 BD | 3 BA | $3,250,000 | SOLD 1000 Park Avenue, Apt. 7B 3 BD | 3 BA | $2,770,000 | Sold 310 West End Avenue, Apt. 7C 3 BD | 4 BA | $2,675,000 | Sold 130 West 79th Street, Apt. 10CD 2 BD | 2 BA | $1,995,000 | Sold 400 East 70th Street, Apt. 304/5 2 BD | 3 BA | $1,660,000 | Sold 315 Riverside Drive, Apt. 11B 2 BD | 2 BA | $1,575,000 | Sold 230 East 50th Street, Apt. 10AB 4 BD | 3 BA | $1,550,000 | Sold 130 East 94th Street, Apt. 9B 2 BD | 2 BA | $1,495,000 | Sold 508 Waverly Avenue, Apt. 6 2 BD | 2 BA | $1,450,000 | Sold 49 East 96th Street, Apt. 4A 2 BD | 2 BA | $1,350,00 | Sold 382 Central Park West, Apt. 14K 1 BD | 1BA | $1,140,000 | Sold 265 West 94th Street, Apt. 20/1 2 BD | 1 BA | $855,000 | Sold 200 Cabrini Boulevard, Apt. 112 1 BD | 1 BA | $850,000 301 East 79th Street, Apt. 30R 1 BD | 1BA | $845,000 | Sold 301 East 78th Street, Apt. 8A 1 BD | 1 BA | $778,000 | Sold 440 East 79th Street, Apt. 14C 2 BD | 1 BA | $749,000 | Sold 250 East 87th Street, Apt. 23J 1 BD | 1 BA | $715,000 | Sold

Just Rented

43 West 64th Street, Apt. PH9D 2 BD | 2 BA | $12,500 | Rented

120 East 87th Street, Apt. R6A 2 BD | 2 BA | $10,500 | Rental 320 West 90th Street, Apt. 1D Studio | 1 BA | $2,650 | Rented

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Office: 212-913-9058 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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