Monthly Take - July 2023

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JULY 2023 MANHATTAN MONTHLY TAKE

Our Latest Take on the Manhattan Market ✦ Manhattan real estate is in a state of equilibrium - neither buyers nor sellers have an advantage ✦ The % of sales $2-$4MM, from March through May, was the highest % seen in the last several years while the under $2MM market has been less active ✦ Turnkey apartments are being rewarded while tired apartments are penalized ✦ Over 30 contracts were signed every week in the month of June in the $4MM+ market putting this June on track to be the 2nd strongest one in 15 years * Sources: Urban Digs and Olshan Report

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

Read on and get our JULY TAKE: ✦ New Development: 418-420 East 75th Street ✦ Food News: Best UES Sandwiches ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: Best summer gifts Let's talk soon! Stacey and Julie

New Development

418-420 East 75th Street (Between York and First Avenue) ✦ Designed by ARC Architecture + Design Studio ✦ Developer Robert Michaeli of Brooklyn B Company Group ✦ Two-story building converted into a six-story condo ✦ First two stories retain the red brick masonry façade ✦ Lower levels will have floor-to-ceiling glass retail frontage ✦ Expected completion & pricing has not been announced

Summer's Best Sandwiches on the UES Summer is here and it's time to pack a picnic. Enjoy!

All'Antico Vinaio The Florence sandwich shop known by some as "home of the world's best sandwiches" is coming to the UES. Enjoy freshly baked Tuscan schiacciata bread and the best gourmet ingredients. Opening July. 36 East 60th St. btwn Park & Madison Milano Market After 30 years, this "mom and pop" deli still draws a line for lunch. Enjoy one of their signature sandwiches like the fried eggplant and mozzarella on focaccia or make your own. 1582 Third Avenue (btwn 89th & 90th) La Sandwicherie The French inspired, Greenpoint fave, is coming to the UES. The smell of fresh French baguette sandwiches, paninis, crepes and Italian coffee will greet you at the door. Before you leave, shop for some French groceries. Opens this summer. East 85th St. btwn 2nd & 3rd Ave.

Celeb Real Estate Rundown John Mayer former Apt. @ 225 Lafayette Street LISTED for Rent $17,500/month The 2,000 sq ft home is where John met neighbor Andy Cohen. The 2 bedroom, 3 bath full floor corner unit was recently renovated.

James Gandolfini former home @ 179 Sullivan Street LISTED for $16.5MM The 25 ft wide townhouse has 5 bedrooms and 6 full bathrooms spread over 9,300 sq ft with 2,300 sq ft of private outdoor space. Original architectural details throughout.

Ex Disney marketing chief MT Carney LISTS 30 Crosby Street for $11.25MM The 4,164 sq ft stunning Soho loft has 3 bedrooms and 4 baths and includes a library, screening room, open kitchen with high-end cabinetry, a laundry room and tons of custom closets.

Arrive Gift in Hand This Summer!

Malibu Barbie™ Golf Cart Pool Float ✦ Stay cool with the removable sun shade attachment ✦ Keep drinks cool and in place with two cup holders ✦ Inflates and deflates in two minutes ✦ Price: $139

Soleil Pool Beverage Tray ✦ Four cupholders and a large central tub for ice ✦ Keep drinks cool and close in the pool ✦ Stays evenly afloat ✦ Price $399

Vinglacé Wine Chiller & Stemless Glass Set ✦ Chills for hours ✦ Crafted from double-walled, vacuum-insulated stainless steel ✦ Custom free monogramming ✦ Price: $139.95

How is the Luxury Market? Residential Properties $4MM and Above Contracts Signed YTD Coop 2023 = 159 2022 = 176 Condo 2023 = 476 2022 = 546 Condop 2023 = 15 2022 = 2 Townhouse 2023 = 66 2022 = 85 Total Contracts 2023 = 716 2022 = 809

Key Stats YTD

Avg. Price Reduction 2023 = 12.0% 2022 = 5.2% Avg. Days on Market 2023 = 580 2022 = 537

Which Kanbar Kopel Team Listing is your Favorite?

Featured Active Listings 1100 Park Avenue, Apt. 9C 4 BD | 4 BA | $4,895,000 | Active 4 East 77th Street Neo-Renaissance Townhouse (just off Fifth Avenue) 24' Wide | 5 Stories plus Cellar | $25,000,000 | Active

Featured In Contract 433 East 74th Street, Apt. 3AB/4B 6 BD | 5.5 BA | $5,995,000 | In Contract

16 Sutton Place, Apt. 19B 4 BD | 4 BA | $1,595,000 | In Contract 360 East 72nd Street, Apt. B1501 2 BD | 2 BA | $1,575,000 | In Contract

150 East 77th Street, Apt. 6F 2 BD | 2 BA | $1,375,000 | In Contract 440 East 79th Street, Apt. 14K 2 BD | 1 BA | $769,000 | In Contract

205 East 63rd Street, Apt. 4G 2 BD | 2 BA | $595,000 | In Contract

Featured Transactions

145 East 84th Street, Apt. 11DEFG 6 BD | 6 BA | Sold 33 East 70th Street, Apt. 10/11D 8 BD | 7 BA | Sold 1175 Park Avenue, Apt. 4A 5 BD | 4 BA | Sold

50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,390,000 | Sold 14 East 90th Street, Apt. 9D 3 BD | 3 BA | $3,547,500 | Sold

1623 3rd Avenue, Apt. 39K 2 BD | 2 BA | $1,490,000 | Sold 440 East 79th Street, Apt. 15E 2 BD | 2 BA | $1,280,000 | Sold

130 East 94th Street, Apt. 2D 1 BD | 1 BA | $579,000 | Sold 301 East 63rd Street, Apt. 7D Studio | 1 BA | $280,000 | 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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