Monthly Take - October 2023

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OCTOBER 2023 MANHATTAN MONTHLY TAKE

Real Estate Market Trends BUYERS: TAKE ADVANTAGE OF TODAY'S MARKET ✦ Apartments are sitting longer with DOM up 16.5% from last year ✦ Contracts signed are down 3.3% from last year ✦ Sales over ask are down 38.7% from last year ✦ Listings 90+ days on the market or those that are back on the market offer the greatest buy opportunity However, generally speaking regardless of what the market is doing, life cycle events never stop. The 5D's - diapers, diplomas, diamonds, divorce and death - will always keep the real estate market moving! Source: Urban Digs

Want to learn more about the market? Reach out to chat!

Read on and get our OCTOBER TAKE: ✦ New Development: Archive Lofts @ 305 East 61st Street ✦ Food News: Boulud, Omakase & Old School NY on the UES ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: Laugh into the fall season Let's talk soon! Stacey and Julie

New Development

Archive Lofts 305 East 61st Street (btwn 2nd & 1st Avenues) ✦ Downtown loft-style in a former art warehouse ✦ 35 top-of-the-line condominiums ✦ 1-3 bedroom apartments ✦ Developed (and interiors) by Forkosh Development Group ✦ Architecture by C3D ✦ High barrel-vaulted ceilings ✦ 7” wide white oak floors ✦ Balconies with floor-to-ceiling sliding glass doors ✦ State-of-the-art Miele kitchens and top-of-the-line finishes ✦ Amenities include: 24-hour attended lobby, fitness studio, bicycle storage, resident lounge, and furnished roof deck with wet bar and outdoor grill ✦ Private rooftop terraces available for purchase ✦ Prices starting at $1,350,000 *Sales have commenced

UES Food News & Openings

✦ Cafe Boulud: The famed café known for its French fine dining will re-open on the UES this November after closing during the pandemic. (100 East 63rd St.) ✦ Hoexters Market: An ode to the original steakhouse from the 70’s, this American brasserie will have a real old New York neighborhood vibe. (174 East 82nd St.) ✦ Shihou: The 3rd and newest location of this traditional omakase counter experience with a modern twist is now on the UES. (1586 Second Ave.)

Celeb Real Estate Rundown

✦ Giorgio Armani BUYS: A condo in his namesake building at 760 Madison Avenue where prices range from $25-$32.5MM ✦ Carmelo Anthony LISTS: 5 bed, 4 bath Chelsea condo for $12.5MM ✦ Phillip Lim LISTS: Full floor Soho co-op for $8.5MM or $45,000/month

Laugh into the fall... New/Updated Comedy Clubs

✦ Westside Comedy: Top talent and Playa Betty’s food (201 West 75th St.) ✦ AsylumNYC: Reopening this fall - follow @theasylumnyc (307 West 26th St.) ✦ GV Comedy Club: A long list of stars with great pub grub (99 MacDougal St.) How is the Luxury Market? Residential Properties $4MM and above Source: Olshan Report

Co-op 2023: 209 2022: 216 Condo 2023: 620 2022: 706 Condop 2023: 19 2022: 5 Townhouse 2023: 99 2022: 111 Total Contracts 2023: 947 2022: 1038 Avg. Price Reduction 2023: 11% 2022: 5.3% Avg. Days On Market 2023: 617 2022: 546

Which Kanbar Kopel Team Listing is your Favorite?

Featured Active Listings 4 East 77th Street Neo-Renaissance Townhouse (just off Fifth Avenue) 24' Wide | 5 Stories plus Cellar | $25,000,000 | Active

Featured In Contract

1100 Park Avenue, Apt. 9C 4 BD | 4 BA | $4,895,000 | In Contract 433 East, 74th St., Apt. 3AB/4B 6 BD | 5.5 BA | In Contract

47 East 88th Street, Apt. 15C 2 BD | 3 BA | $1,995,000 | In Contract 40 East 84th Street, Apt. 16A 1 BD | 2 BA | $1,595,000 | In Contract 215 East 79th Street, Apt. 12A 2 BD | 2 BA | $1,300,000 | In Contract 184 East 2nd Street, Apt. 4G 2 BD | 1 BA | $995,000 | In Contract

Featured Transactions

145 East 84th Street, Apt. 11DEFG 6 BD | 6 BA | $4,975,000 | Sold 50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,390,000 | Sold 1175 Park Avenue, Apt. 4A 5 BD | 4 BA | Sold 33 East 70th Street, Apt. 10/11D 8 BD | 7 BA | Sold 14 East 90th Street, Apt. 9D 3 BD | 3 BA | $3,547,500 | Sold 360 East 72nd Street, Apt. B1501 2 BD | 2 BA | $1,575,000 | Sold 1623 3rd Avenue, Apt. 39K 2 BD | 2 BA | $1,490,000 | Sold 150 East 77th Street, Apt. 6F 2 BD | 2 BA | $1,425,000 | Sold

440 East 79th Street, Apt. 15E 2 BD | 2 BA | $1,280,000 | Sold 205 East 63rd Street, Apt. 4G 2 BD | 2 BA | $595,000 | Sold

Want to see more listings? View them here!

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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