Sneak Peak of Upcoming Listings
GREENWICH VILLAGE
61 W 9th St, Unit 10D
1 BD 1 BA $1,550,000
SOHO
181 Thompson St, Unit
1 BD 1 BA $495,000
Contracts Signed
GREENWICH VILLAGE
30 5th Avenue, Unit 14F
2 BD 2 BA 0 SF $2,400,000
UPPER WEST SIDE
372 Central Park West, Unit 10P
2 BD 2 BA 1141 SF $1,950,000
CHELSEA
360 West 21st Street, Unit 4L
1 BD 1 BA 0 SF $750,000
UPPER WEST SIDE
2025 Broadway, Unit 19F
4 BD 3 BA 0 SF $2,250,000
Featured Listings
WEST VILLAGE
77 Perry Street, Unit 6CD
1 BD 2 BA $1,699,000
FLATIRON
16 West 16th Street, Unit 7RS
2 BD 1 BA $1,450,000
UPPER WEST SIDE
2166 Broadway, Unit 5E
2 BD 2 BA $990,000
LENOX HILL
175 East 62nd Street, Unit PHA
2 BD 3 BA 1500 SF $2,250,000
Upcoming Closings
BROOKLYN HEIGHTS
150 Joralemon Street, Unit 7D
2 BD 2 BA 0 SF $980,000
GREENWICH VILLAGE
43 5th Avenue, Unit 8NW
2 BD 2 BA 0 SF $2,700,000
LOWER EAST SIDE
215 Bowery, Unit 2F/R
2 BD 3 BA 2000 SF $2,750,000
MARKET UPDATE
At the close of last week, Manhattan “supply” was at 6,924 listings on the market. We usually see that number peak around 7,500 by June each year, and inventory is coming on the market a bit more quickly than usual.
969 contracts were signed last week, down 8% from the week before. The weekly contract signed number is usually 1,088 by the end of April, so we are coming in light. Knowing this insider intel which shows that this is likely the strongest that the market is going to get for the year, how do we advise our sellers? We are discussing any necessary price reductions now, rather than waiting until May when there is traditionally more competition and less buyer activity. And buyers can afford to play a little hard ball on certain listings.
We are also seeing an increase in all-cash deals. In the first quarter of the year, 63% of Manhattan homes were purchased in all-cash (46.8% of those were luxury homes over $4m) which is the highest percentage of cash purchases in a decade.
We keep our finger on the macro-pulse of the Manhattan market, analyzed down to the specific neighborhood and property type and bedroom count, allowing us to provide the most accurate valuations for both buyers and sellers. Reach out to us anytime for a customized update!
