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 - 06/01/2026

The Luxury Sector:

Thirty-two contracts were signed last week in Manhattan at $4 million and above during the shortened post-Memorial Day week, three more than the previous week. Condos continued to lead the market, outselling co-ops 21–6, with five townhouses in the mix. For perspective, the 10-year average for the week after Memorial Day is 25 contracts, making last week's total another solid showing for the Luxury market. The headline deal was a record-shattering townhouse at 48–50 W. 69th St., asking 85 million–the largest townhouse deal ever recorded in the Upper West Side. The previous record was held by 248 Central Park West, which closed for $26 million in March 2022. The No. 2 contract was unit M15 at 150 Charles Street, asking $21.5 million, after coming on the market last month. The takeaway: the high-end market continues to outperform historical norms, with trophy-luxury buyers remaining very much in the game.

Overall City/Market Supply:

There are currently 6,741 apartments on the market ready to sell. While that’s 1.3% higher than last month, inventory remains 9.2% lower than this time last year and is down to .3% from last week. That has been the defining theme of the 2026 spring market: supply has consistently run 8% to 10% below both last year and the five-year average, and that trend has persisted throughout the season. Looking at the weekly numbers, sellers brought 327 new listings to the market last week, a modest one percent increase from the prior week. The two-week trend in new inventory is essentially flat, which is typical as the spring market begins to wind down. From here, expect both weekly listing volume and overall inventory levels to gradually decline as we move deeper into the summer months. The question isn’t whether supply will fall, it's how quickly it will retreat after a spring season that never fully caught up to historical inventory levels.

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

Looking at buyer demand, 1,110 listings have gone into contract over the last 30 days, which is 10.1% higher than this time last year. While that number is slightly lower than last week's reading, it's to be expected as contract activity typically begins to cool as we move closer to the summer months. The important takeaway is that demand remains stronger than it was a year ago. Looking at the weekly numbers, buyers put 219 properties into contract last week, a 27.5% decline from the prior week. While that may sound significant, the week before saw an unusually strong surge in contract activity. In fact, if you compare last week to the same week a year ago, contract signings are up roughly 10%. The bottomline is that properties are continuing to transact despite the tight inventory environment. If your apartment or property isn’t selling, it’s not the market. It’s almost always one of two things: the product or the price. The market continues to support a healthy pace of contract activity, and properly positioned listings are finding buyers.

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: