Monthly Take - December 2023

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DECEMBER 2023 MANHATTAN MONTHLY TAKE

Insight for First Quarter 2024: ✦ Post COVID, Manhattan real estate market is no longer seasonal ✦ It is a buyers market and we expect it will continue into 2024 ✦ Top 3 states with buyers purchasing in Manhattan are: NJ, CA & FL ✦ Large unrenovated apartments continue to be the most negotiable ✦ Rental market has peaked and stabilized for the foreseeable future Sources: Urban digs, Real Deal, Street Easy, Miller Samuels

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

Read on and get our DECEMBER TAKE: ✦ New Development: The 74 @ 201 East 74th Street ✦ Food News: Best Sufganiyot aka Jelly Doughnuts ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: Must-See Art Shows Let's talk soon! Stacey and Julie

New Development The 74 201 East 74th Street (btwn 2nd & 3rd Avenue) ✦ Developed by Elad Group ✦ Designed by Pelli Clarke & Partners with SLCE Architects ✦ Interiors by Rafael de Cardenas ✦ 420-foot-tall condominium with white terracotta façade and floor-to-ceiling windows ✦ 42 apartments configured as follows: half-floor two and three-bedrooms, full-floor four and five-bedrooms, single free-standing townhome and duplex penthouse ✦ Amenities include: entertainment suite with catering kitchen, video conferencing room, children’s playroom, fitness center with a Pilates studio and lobby lounge overlooking a private garden ✦ Pricing ranges from $2.975MM to $12.5MM ✦ Completion date summer 2025

Best Sufganiyot aka Jelly Donuts First night of Chanukah is December 7

✦ Michaeli Bakery: Israeli style Kosher bakery with unique flavors such as pistachio, halvah, and dulce de leche. No pre-orders so show up early. 401 East 90th Street ✦ Breads Bakery: Definitely a fan favorite! Call to preorder and choose from strawberry, chocolate, vanilla and tiramisu. 1294 Third Avenue ✦ Caroline's Doughnuts: New to the UES! Beautiful and delicious flavors including nutella, apple and strawberry jelly. Call to pre-order. 1631 Second Avenue

Celeb Real Estate Rundown

✦ The estate of Barbara Walters IN CONTRACT 944 Fifth Avenue, #6 last ask was $17.8MM: 5 BR, 5BA with 10 ft ceilings is a full-floor home with Central Park views and a very special provenance. ✦ AD100 Decorator Jennifer Post LISTS 390 West End Avenue, #9G for $5.5MM: The 2422 sq. ft. 2 BR, 2.5 BA is beautifully renovated by the interior designer. ✦ Joe Jonas & Sophie Turner LIST 199 Mott Street #2 for $6MM: 3 BR, 3 BA Nolita condo spans 2907 sq. ft. in a boutique building with 11 apartments.

December Must See Art Exhibits

✦ Basquiat X Warhol: A first-time collaboration of iconic artists from the 80's. The Brant Foundation, 421 East 6th Street (now thru 1/7/24) ✦ Women Dressing Women: 70+ womenswear designers, 1910 to today. The Met, 1000 Fifth Avenue (12/7/23 to 3/2/24) ✦ Salon 81: Featuring Janna Fournier, Cara London, Ruth McLaughlin, Nancy Pantirer, Sasha Silverstein & Francine Tint. *Reception & performances Saturday, 1/20, 6 to 9pm. 81 Leonard Gallery, 81 Leonard Street (12/7/23 to 1/27/24) How is the Luxury Market? Residential Properties $4MM and above Source: Olshan Report

Co-op 2023: 245 2022: 260 Condo 2023: 728 2022: 812 Condop 2023: 26 2022: 5 Townhouse 2023: 121 2022: 128 Total Contracts 2023: 1120 2022: 1205 Avg. Price Reduction 2023: 10.5% 2022: 5.8% Avg. Days On Market 2023: 613 2022: 553

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 | $20,000,000 | Active

220 East 54th Street, Apt. 6H Alcove | 1 BA | $359,000 | Active

Featured In Contract

325 West End Avenue, Apt. 4A 4 BD | 4 BA | $3,995,000 | In Contract 91 Central Park West, Apt. 12E 2 BD | 2 BA | $2,425,000 | In Contract 47 East 88th Street, Apt. 15C 2 BD | 3 BA | $1,995,000 | In Contract 165 West 66th Street, Apt. 14M Studio | 1 BA | $395,000 | In Contract

Featured Transactions

433 East 74th St., Apt. 3AB/4B 6 BD | 5.5 BA | Sold 145 East 84th Street, Apt. 11DEFG 6 BD | 6 BA | $4,975,000 | Sold 40 East 84th Street, Apt. 16A 1 BD | 2 BA | $1,595,000 | Sold 1100 Park Avenue, Apt. 9C 4 BD | 4 BA | $4,850,000 | Sold 50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,390,000 | Sold 215 East 79th Street, Apt. 12A 2 BD | 2 BA | $1,300,000 | 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 184 East 2nd Street, Apt. 4G 2 BD | 1 BA | $995,000 | 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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