Monthly Take - April 2022

APRIL 2022 MANHATTAN MONTHLY TAKE Lately the #1 question we are most often asked:  Is there still an opportunity for buyers?  To answer this let's look back at the market's highs and lows for context.  LOW: January 2011 - $987 median PPSF HIGH: December 2015 - $1787 median PPSF (+81%) TODAY: February 2022 - $1593 median PPSF (-11%) While the market has recovered a bit from the COVID low, it is still down from the 2015 high. In short, we DO see opportunity for buyers in  today's market. If you would like to discuss buying, selling, or just the market, in general, schedule a call with us here.  Source: StreetEasy Read on to get our APRIL TAKE on: ✦ NEW CONSTRUCTION: 133 E 73RD STREET ✦ UES EATS: NEW OPENINGS! ✦ CELEB REAL ESTATE ✦ INSIDER TIPS: DOORS Let's talk soon! Stacey and Julie 133 East 73rd Street (at Lexington Avenue) ✦ Newly Restored 1898 building ✦ Full-time doorman condominium ✦ 4 Residences: 3 full floor homes & 1 duplex PH  ✦ Interiors by Meroni, one of Europe's elite design shops ✦ Private amenities including a gym ✦ Prices start at $13.8MM Closings to commence Summer 2022. UES EATS!  We scoured the UES for the latest new restaurant openings and a preview of whats coming soon.  Take notes! WHAT'S NEW: ✦ Innocent Yesterday:   casual, plant-based cafe offering baked goods, cafe-fare, & ice cream. 252 East 77th Street (btwn 2nd & 3rd Avenue) ✦ Lashevet:   All day dining serving up creative middle eastern food. 1663 First Avenue (btwn 86th and 87th Street) ✦ Yasouvlaki: From the team behind Bocado; sure to be a new neighborhood Greek favorite. 1568 Third Avenue (@ 88th Street) ✦ Munchies Korner: An American comfort food restaurant with an Italian twist. From the owners behind Jacques next door. 1505 Third Avenue (@85th Street) ✦ 77th Street Sushi: A sushi spot from our favorite Butterfield Bakery. 1102 Lexington Avenue (@ 77th Street) COMING SOON  (SPRING 2022): ✦ Casa Tua @ The Surrey: The Miami Italian hotspot with locations in Aspen and Paris is now headed to NYC.  20 East 76th Street (@ Madison Avenue)  ✦ TBAR:  NEW LOCATION  116 EAST 60TH STREET (btwn Park and Lexington Avenues) ✦ VANESSA'S DUMPLING HOUSE:  Chinatown favorite! 1623 Second Avenue (btwn 83rd and 84th Street) Celeb Real Estate Rundown Pay Pal CEO Daniel Schulman - PURCHASED 30 Crosby Street for $8.6MM The 4600 SF three bed, three bath home in this celeb fav condo has brick walls, a 13-foot wood beam ceiling and a library with custom floor-to-ceiling bookshelves.  Gloria Vanderbilt former UES Mansion 339 East 72nd Street SOLD for $32.2MM A group of investors sold the property to an unknown buyer. The 18,000 SF home includes 11 bedrooms, 11 bathrooms, four powder rooms and 1,500 square feet of outdoor space.  Baz Luhrmann Stuyvesant Square Townhouse ON THE MARKET for $20MM This epic mansion was purchased by Luhrmann about five years ago and exquisitely renovated.  Totaling 8,500 SF, there are six bedrooms, five bathrooms, plus two powder rooms. We love opening DOORS! Details matter when renovating in NYC. Especially when space is limited, or oddly configured, the types of doors you choose can make all the difference. Here are some of our favorite options. POCKET DOORS Pro:  Frees up space from swinging door Con: Need to build out wall to hold door  HARMON HINGE CONCEALED DOOR Pro: Door becomes part of the wall (Stacey is obsessed with these) Con: Higher expense JIB DOOR Pro: Nearly invisible. affordable Con: Needs expert planning, installation SLIDING BARN DOOR Pro: Budget friendly, easy to install Con: Not sound proof, less privacy  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? Active 130 East 94th Street, Apt. 9B 2 Bed | 2 Bath | $1,595,000 | Active Coming Soon 401 East 86th Street, Apt. 2H/3J  5 Bed | 5.5 Bath | Coming Soon In Contract 1175 Park Avenue, Apt. 4A 5 Bed | 4 Bath | In Contract 301 East 79th Street, Apt. 30R 1 Bed | 1 Bath  | $860,000 | In Contract 55 Wall Street, Apt. 705 1 Bed | 1 Bath | $699,000 | In Contract 290 West End Avenue, Apt. 8A 3 Bed | 3 Bath | $3,250,000 | In Contract 130 West 79th Street, Apt. 10CD 2 Bed | 2 Bath | $1,995,000 | In Contract 215 East 79th Street, Apt. 4A 2 Bed | 2 Bath | $1,250,000 | In Contract 1000 Park Avenue, Apt. 7B 3 Bed | 3 Bath | $2,750,000 | In Contract 20 Pomander Walk, Apt. 1 2 Bed | 1 Bath | $875,000 | In Contract 230 East 50th Street, Apt. 10AB 4 Bed | 2.5 Bath | $1,5750,000 | In Contract Just Sold 301 East 78th Street, Unit 8A 1 Bed | 1 Bath | $778,000 | Sold 330 East 75th Street, Unit 15BC 4 Bed | 4 Bath | $3,395,000 | Sold 440 East 79th Street, Unit 14C 2 Bed | 1 Bath | $749,000 | Sold 1020 Park, Unit 8A 4 Bed | 3.5 Bath | $ 2,795,000 | Sold 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. marketingcenter-newyorkcity-manhattan