Monthly Take - January 2023

JANUARY 2023 MANHATTAN MONTHLY TAKE

We are excited to be listing three new townhouses. The data points below will give you a look at the recent rise of the townhouse market in Manhattan: The spread of COVID in 2020 ignited the NYC townhouse market. Signed contracts for townhouses over $4MM hit a record high in 2021, with 212 houses, a 13% increase over the prior year. The pace continued into 2022 surpassing dollar volume from the prior year by 24% by the end of the third quarter. During the four week period, November 21 - December 18, 2022, townhouses outsold co-ops 13 to 7 (Olshan Report). Noteworthy townhouse sales from 2022 included: ✦ Most expensive: 12 East 63rd SOLD for $56MM ✦ Widest: 60-64 East 93rd Street (57‘ wide) SOLD for $52.5MM ✦ Hermès leather walls: 8 East 62nd Street SOLD for $48MM ✦ Grace Kelly's former home: 20 East 73rd Street SOLD for $25MM If you are considering buying a townhouse, check out these three coming soon properties in our listings below: ✦ 4 East 77th ✦ 422 East 84th Street ✦ 197 West Houston Street If you want to learn more about today's market set up a call with us here.

Read on and get our JANUARY TAKE: ✦ New Construction: 255 East 77th Street (@ 2nd Avenue) ✦ Food News: NEW Restaurants coming in 2023 ✦ Celeb Real Estate Buzz ✦ Home Ideas: Coziest Home Blankets Let's talk soon! Stacey and Julie

New Development

255 East 77th Street @ Second Avenue ✦ Developed by Naftali Group ✦ Hill West Architects ✦ Proposal outlines a 475 ft. tall building with 36 Stories ✦ 55 condos each with 3000+ sf ✦ Retail space ✦ 35 enclosed parking spaces ✦ Estimated completion: Late 2024 ✦ Recent Naftali Group Developments on the UES include: The Benson @ 1045 Madison Avenue & 79th Street The Bellemont @ 1165 Madison Avenue & 86th Street 200 East 83rd @ Third Avenue *All projects are close to sold out.

Most Anticipated 2023 Restaurant Openings

David Burke is back, lower east side bialys head uptown and a private NFT dining experience - only in NYC!

Park Ave Kitchen This new David Burke venue will include a 148 seat modern brasserie plus a 49 seat market/cafe for breakfast, lunch, and dinner. 277 Park Ave. btwn 47th-48th; Opening May 2023

Kossar's Bagels & Bialys The legendary 85 year old bagel and bialy shop on the lower east side is moving on up. The UES location is rumored to be coming to York and East 75th St. and the UWS location will be at 270 West 72nd. Timing is not entirely clear. We will keep you posted.

Flyfish Club The city’s first NFT private dining club from Gary Vaynerchuk will open in the former Sunshine Cinema space downtown. Members will enjoy a seafood restaurant, bars, lounges and a special omakase experience. You must be a member or be dining with a member (though we are told membership is sold out.) Good luck! 141 E. Houston Street - Opening 2023

Celeb Real Estate Rundown

Hamish Bowles LISTS 45 East 9th Street for $2.9MM This pre-war, 2 bedroom, 2 bath duplex boasts 16 foot coffered ceilings and beautiful custom millwork and bookshelves.

Supermodel Alessandra Ambrosio SELLS 311 East 38th Street for $2.75MM The spacious Murray Hill home has 3 bedrooms, 2.5 baths, and a large outdoor space with water and skyline views.

Justin and Hailey Bieber RENT at 195 Hudson Street This 3 bedroom, 2.5 bath condo at 195 Hudson St. is the former residence of Beyonce and Jay-Z. The space is newly renovated and was last asking $22,000/month.

Blankets we LOVE for your Home It's that time of year to get cozy at home. These are our favorites.

Family room fave: UGG ✦ The SOFTEST ✦ Reversible ✦ 6 colors available UGG: Ana Knit Throw $98

Living room fave: Matouk ✦ 100% baby alpaca ✦ Luxurious details & super soft ✦ 4 colors available Matouk: Suri Alpaca Eyelash-Fringe Throw Blanket $297

Fave work of art: Elder Statesman ✦ Hand crocheted cashmere ✦ Globally sourced ✦ Hand loomed and tie dyed by craftsmen The Elder Statesman: Busy Striped Crocheted Cashmere Blanket: $4995

How is the Luxury Market? Residential Properties $4MM and Above Contracts Signed YTD Coop 2022 = 275 2021 = 348 Condo 2022 = 860 2021 = 1333 Condop 2022 = 5 2021 = 5 Townhouse 2022 = 142 2021 = 208 Total Contracts 2022 = 1282 2021 = 1894

Key Stats YTD

Avg. Price Reduction 2022 = 6.1% 2021 = 23.7% Avg. Days on Market 2022 = 552 2021 = 570

Want to learn more about neighborhood-specific market trends? Reach out to chat!

Which Kanbar Kopel Team Listing is your Favorite?

Active

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

Coming Soon 4 East 77th Street 24' Wide | Coming Soon

422 East 84th Street 18' Wide | Coming Soon

197 West Houston Street 19' Wide | Coming Soon

205 East 63rd Street, Apt. 4G 2 BD | 2BA | Coming Soon

130 East 94th Street, Apt. 2D 1 BD | 1 BA | Coming Soon 440 East 79th Street, Apt. 15E 2 BD | 2 BA | $1,299,000 | Coming Soon

Rentals

2250 Broadway, Apt. 4R 2 BD | 2 BA | Rental | Coming Soon In Contract

50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,700,000 | 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 | Sold 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 | Rented 320 West 90th Street, Apt. 1D Studio | 1 BA | $2,650 | Rented

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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