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 - 01/12/2026

The Luxury Sector:

Twenty contracts were signed last week in Manhattan at $4 million and above, seven more than the New Year's–shortened week prior. Condos continue to dominate, outselling co-ops at 12 to 4, with one condop and three townhouses in the mix. The top contract of the week was Unit 36 at 111 West 57th Street, asking $18.25 million, after being reduced from $21.25 million when the building first began selling off of floorplans in June 2016. The second-highest contract was Penthouse 20 at 1049 5th Avenue, asking $11.6 million, down from $11.95 million when it was listed in May.

Overall City/Market Supply:

Last week, overall listing supply came in at 4,895 apartments, up 2% from the prior week, but still well below the 5,000 threshold. Inventory hasn’t been this tight in several years–the last time we saw supply dip below 4700 was back in 2015, which occurred the week before last. That said, it appears overall listing supply likely bottomed out the week prior, so expect listings to begin re-entering the market as we move toward the spring selling season. Looking at the weekly supply numbers, 260 new listings came to the market last week–a 584% week-over-week increase. That’s a strong rebound from the prior week and a welcome sign, though once the spring market fully kicks in, weekly supply volume will likely be double of that level. Still, it’s a meaningful uptick. Another notable data point: only 179 apartments were taken off the market last week, 20% fewer than the week before. As we head deeper into spring, expect fewer listings to be pulled and more sellers to step back into the market in anticipation of the prime selling season. 

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

Over the past 30 days, buyers have put 716 apartments into contract. The 30-day pace of buyer demand is up 3% compared to this time last year, though activity is likely to slow further as we move deeper into January. That said, expect the spring season to begin taking shape in early to mid-February, with momentum building more meaningful after March 1. On the weekly front, 167 apartments went into contract last week–an increase of 43.9% from the week before. As we get closer to the spring selling season, look for more listings to begin moving into contract. While there will be some week-to-week volatility, the broader trend should continue to strengthen as we head deeper into spring.

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:

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: