201 West 70th Street

- ONE SHERMAN SQUARE -

Welcome!

Below you will find a weekly market update I create at the start of each week. Also below is information on myself, my team, and our building. Please feel free to reach out with any questions you might have, I am here to help.

The Weekly Manhattan Market Report - 04/30/2026

The Luxury Sector:

Thirty-nine contracts were signed last week in Manhattan at $4 million and above, one more than the previous week. Condos dominated–really clobbering co-ops 28–4 with seven townhouses also in the mix. At the very top of the market, 10 contracts were signed at $10 million and above, pushing year-to-date trophy activity to one of the strongest starts on record. So far this year, 126 trophy contracts ($10M+) have been signed, compared to 90 at this point for 2025. For perspective, 117 trophy deals were signed for the same period in 2021–a historic, record-breaking year, which ultimately saw 400 such transactions. In other words, 2026 is off to a very strong start at the very-high end. The top contract was PH76 at 111 W. 57th St., asking $45 million, after being reduced from $54.6 million when the building first launched off of floorplans back in 2016. The No. 2 deal was unit 56 at 50 W. 66th St., asking $35.5 million, sold by the developer.

Overall City/Market Supply:

There are currently 6,350 listings on the market–a 3% bump week-over-week, and finally, a more meaningful move higher. After a very lethargic March in terms of new supply, April is starting to look more in line with historical spring norms. Just a few weeks ago, inventory was down about 10% year-over-year, then 9%–and now the gap has narrowed to 7.2%. So supply is clearly improving, but we're still playing catch-up. Historically, the spring market tops out around 7,500 listings by the end of May. At this pace, getting there this year will be a challenge unless we see several weeks of strong gains. Looking at the weekly numbers, 525 new listings came to the market last week–just a .2% dip week-over-week, but still a solid number. In fact, over the last two weeks more than 1000 properties have hit the market–the busiest stretch of new supply we've seen so far this spring. In conclusion, March was slow, likely impacted by geopolitical concerns, rising rates, and broader macro uncertainty. But April is showing signs of life! Let’s see if the momentum continues–because buyers are clearly starved for new inventory.

Liquidity Pace (The 30-Day Pace of Buyer Demand):

Over the last 30 days, buyers have put 1,108 properties into contract–a nice bump from the prior week. The 30-day pacee this spring has been steady, to slightly increasing, with some flat weeks and incremental gains–but notably, no real “down weeks“ like we've seen in past years. The consistency is worth paying attention to. Looking at the weekly numbers, 264 apartments went into contract last week, a 6% increase week-over-week. Over the past few weeks, contract activity has held steady with a gradual upper trend as more buyers step back in the market each week-a healthy sign for the market. On pricing, when sellers do not make adjustments, the leverage discount is about 4.75% off the original asking price–closer to 6% in the luxury sector and around 4.5% for condos overall. The takeaway is simple, buyers are active, but they are priced–sensitive. Sellers who recognize that in price accordingly are the ones getting into contract.

One Sherman Square is a commanding postwar co-op tower featuring a welcoming circular driveway and surrounding gardens. Residents of the pet-friendly building enjoy a contemporary lobby, 24-hour doorman and concierge service, live-in superintendent, gym, laundry, a glorious landscaped roof deck with spectacular views, and an onsite parking garage.

• Purchase Application Requirements (here)

• Sublease Application Requirements (here)

One Sherman Square Sales By Year:

2026

2025 - 32 Units Sold

2024 - 20 Units Sold

About Dylan Hoffman

With a stellar track record of success spanning over two decades, Dylan Hoffman has become one of the most well-regarded brokers in New York City real estate. Known for his deft ability to simplify complicated transactions, stay abreast of the ever-evolving marketplace and connect with his clients in a meaningful way, he's a powerful resource for buyers, sellers, renters and investors. It's no surprise that his dynamic approach has driven The Hoffman Team at Compass to the upper echelons of New York City success: The team ranked No. 4 in transactions and No. 11 in dollar volume according to WSJ/REAL Trends.

As a New York real estate investor himself, Dylan is ever-mindful of the fact that he's dealing with his clients' most prized assets, which drives his laser-focus on maximizing value. He's assembled an extensive local network, and he provides expert guidance in everything from securing financing and legal advice to finding the best architects and contractors. From the initial consultation to the closing table, Dylan is a trusted advisor, skilled negotiator and expert broker ready to help clients exceed their unique real estate goals.

A California native, Dylan studied theater at California State University, putting himself through college and an acting conservatory with a multitude of roles in commercials, on television and with national touring companies. Today, Dylan resides on the Upper West Side with his wife and two children. In his free time, he can be found with his family, enjoying Central Park or exploring Manhattan on a CitiBike.

Past & Current Building Deals:

Emma’s Favorite Neighborhood Spots:

• Central Park

• 72nd Street & Riverside Drive Dog Run

• Riverside South Dog Run (72nd Street, under the highway)

• South Riverside Park Dog Run (Riverside Blvd. btw 66th/65th)

• 87th Street Dog Run (Riverside Park at 87th Street)

• Bull Moose Dog Run (81st Street and Columbus Avenue, by the Museum of Natural History)

Contact Dylan: