Monthly Take - April 2024

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APRIL 2024 MANHATTAN MONTHLY TAKE

There has recently been much ado about possible buyer brokerage commission changes in light of the lawsuit settled by the National Association of Realtors (NAR). There are many confusing and sensational headlines, but here are the FACTS: ✦ Commissions have always been negotiable in real estate transactions and will continue to be. In addition, listing agents and sellers can continue to offer a buyer’s broker’s compensation outside of the NAR-affiliated MLS. ✦ Offering a buyer’s agent compensation is a choice made by a seller in consultation with their listing agent. Sellers have historically chosen to compensate a buyer’s broker because it typically leads to the best outcome for the sale of their property. ✦ Buyers benefit from having a seasoned and knowledgeable professional representative when making what is, often the most, significant financial investment of their lives. It is essential they have their own representation as the fiduciary responsibility of a seller’s agent is to the seller. Please be in touch with any questions!

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Read on and get our APRIL TAKE: ✦ New Development: 1448 Third Avenue (@ 82nd Street) ✦ Food News: New and Coming Soon EATS on the UES ✦ Celeb Real Estate Buzz ✦ NYC Home & Lifestyle Trends: New shops on Madison Avenue Let's talk soon! Stacey and Julie New Development

1448 Third Avenue (northwest corner @ 82nd Street)

✦ Douglaston Development (Hudson Yards & Williamsburg waterfront) ✦ Cetraruddy Architecture ✦ 39-story tower to include 125 condominiums ✦ Amenities: pool, yoga studio and bicycle storage

New UES Restaurants

✦ Hollybrook Lane: Sure to be a new neighborhood gem, this Southern comfort food destination is served with old-school hospitality in a cozy, relaxed atmosphere. 1712 First Avenue btwn 88th and 89th St. ✦ Corner Joint: Massimo Lusardi, behind neighborhood spots Uva and Uva Next Door, has secured the former Quality Eats corner and plans to open an "American Food" eatery. 1496 Second Avenue @ 78th Street ✦ Sushi by M: The East Village gem, Sushi by M, is opening on the UES. This unique take on the classic omakase experience features a weekly menu change with Chef Tim's original creations such as the Big Mac, Viagra Shooter, and Chicken Nugget. 1575 Second Avenue btwn 81st and 82nd St. (formerly Ateaz) Celeb Real Estate Rundown

✦ Phillip Lim SELLS 19 Green Street for $8MM: The 4th floor, 2 BD home spans 3500 sq ft with Venetian plaster walls and white oak herringbone floors. Lim has owned the home for 17 years. ✦ Jessica Tisch LISTS 9 East 79th St. for $13MM: The spacious 3 BD, 4 BA duplex offers a private elevator, a chef's kitchen, and views of Central Park. Buyers must pay all cash. ✦ Jill Stuart LISTS 330 Spring Street for $19.95MM: The 5 BD, 3.5 BA penthouse in the Urban Glass House building is 4266 sq ft with two terraces and floor-to-ceiling windows on the SOHO waterfront. NEW & COMING SOON Madison Avenue stores to shop!

Khaite: (coming soon): Luxury women's clothing @ 69th Toteme (coming soon): Swedish women's clothing @ 69th DS Durga: Niche fragrance brand @ 81st Le Lion: Custom embroidery on knitwear @ 91st ME & EM: Intelligent tailored style @ 70th Malia Mills: Signature swimwear @ 81st NUNUNU: Kids fashion and more @ 91st

How is the Luxury Market YTD? Residential Properties $4MM and above Source: Olshan Report

Co-op 2024: 71 2023: 76 Condo 2024: 215 2023: 224 Condop 2024: 2 2023: 8 Townhouse 2024: 42 2023: 33 Total Contracts 2024: 341 2023: 330 Avg. Price Reduction 2024: 9.8% 2023: 8.4% Avg. Days On Market 2024: 635 2023: 634

Which Kanbar Kopel Team Listing is your Favorite?

Featured Active Listings 4 East 77th Street Neo-Renaissance Townhouse (just off Fifth Avenue) 25' Wide | 5 Stories plus Cellar | $17,995,000 | Active

50 Bridge Park Drive, Apt. 8A 4 BD | 4 BA | $4,450,000 | Active

205 East 63rd Street, Apt. PHA 2 BD | 2 BA | $895,000 | Active

Featured In Contract

11 Hoyt Street, Apt. 53K 2 BD | 2 BA | $2,060,000 | In Contract

91 Central Park West, Apt. 12E 2 BD | 2 BA | $2,425,000 | In Contract 74 West 68th Street, Apt. 9D 1 BD | 1 BA | $685,000 | In Contract

300 West 145th Street, Apt. 3J 2 BD | 2 BA | $675,000 | In Contract 205 East 63rd Street, Apt. 4E 1 BD | 1 BA | $299,000 | In Contract

Featured Transactions 325 West End Avenue, Apt. 4A 4 BD | 4 BA | $3,712,500 | Sold 220 East 54th Street, Apt. 6H Alcove | 1 BA | $375,000 | Sold

145 East 84th Street, Apt. 11DEFG 6 BD | 6 BA | $4,975,000 | Sold 433 East 74th Street, Apt. 3AB/4B 6 BD | 6 BA | Sold 33 East 70th Street, Apt. 10/11D 8 BD | 7 BA | Sold 1100 Park Avenue, Apt. 9C 4 BD | 4 BA | $4,850,000 | Sold

14 East 90th Street, Apt. 9D 3 BD | 3 BA | $3,547,500 | Sold 47 East 88th Street, Apt. 15C 2 BD | 3 BA | $1,900,000 | Sold

40 East 84th Street, Apt. 16A 1 BD | 2 BA | $1,570,000 | Sold 360 East 72nd Street, Apt. B1501 2 BD | 2 BA | $1,550,000 | 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: 646-982-0353 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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