Monthly Take - September 2023

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SEPTEMBER 2023 MANHATTAN MONTHLY TAKE

Real Estate Market Trends ✦ Supply is at its lowest level in the past five years. ✦ Optimal time to list is late September to capture the peak Fall selling season between October and Thanksgiving. ✦ Despite the challenging market, properties that are renovated/staged and priced right are selling. Source: Urban Digs

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

Read on and get our SEPTEMBER TAKE: ✦ New Development: 1598 Second Avenue @ 83rd Street ✦ Food News: NEW! Chocolate & Candy Shops on the UES ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: Back to School Essentials Let's talk soon! Stacey and Julie

New Development

1598 Second Avenue (SE corner @ 83rd St.) ✦ Developed by Lalezarian Properties ✦ SLCE Architects (Designed Beckford House and Tower) ✦ 235 ft tall building with 22 floors ✦ 70 condo apartments ✦ Average apartment size 1,305 sq ft ✦ Ground-floor retail space ✦ Estimated date of completion Fall 2024

NEW! UES Candy & Chocolate Shops

✦ Venchi: Gourmet chocolatier uses 100% natural ingredients, minimal sugar, and is gluten-free. 1117 Lexington Ave. (btwn 77th & 78th) ✦ Bon Bon: A Swedish Candy Co.: Third store opening specializing in Swedish imported candy and delicacies. 1222 Lexington Ave. (btwn 82nd and 83rd) ✦ Neto Chocolate: Family owned small batch chocolatier. High quality cacao from sustainable, socially responsible, and fairly traded farms. Natural, organic and kosher certified. (197 East 76th @ Third Ave.)

Celeb Real Estate Rundown

✦ Rudy Guiliani LISTS: 3 bedroom, 3 bath at 45 East 66th Street for $6.5MM. ✦ Ben Simmons BUYS: Brooklyn Nets player buys 5,578 sq ft condo at The Olympia in Dumbo for $12MM. ✦ Daniel Humm SELLS: Eleven Madison Park chef sold Greenwich Village duplex penthouse for $17MM in an off-market sale.

Back to School Essentials

✦ Erin Condren Wall Organizer $38.50: Wipeable daily organizer. ✦ ApexDesk MK Series Desk & Chair $389.99: Functional & ergonomic too! ✦ Ikea Forsa LED Desk Lamp $34.99: Adjustable task lamp, 3 color choices. How is the Luxury Market? Residential Properties $4MM and above Source: Olshan Report

Co-op 2023: 198 2022: 204 Condo 2023: 585 2022: 661 Condop 2023: 18 2022: 2 Townhouse 2023: 92 2022: 105 Total Contracts 2023: 893 2022: 972 Avg. Price Reduction 2023: 10.6% 2022: 4.9% Avg. Days On Market 2023: 586 2022: 532

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 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 | $4,975,000 | 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 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 440 East 79th Street, Apt. 14K 2 BD | 1 BA | $769,000 | 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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