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 - 10/19/26

The Luxury Sector:

Twenty-eight contracts were signed last week in Manhattan at $4 million and above, three more than the previous week. Condos outsold co-ops, 17–7, with four townhouses in the mix. The No. 1 contract signed was Unit 17A at 551 W 21st St, asking $17 million. It was listed just last month. The No. 2 contract was Unit 2329 at 301 Park Ave, asking $16.5 million, located in the Waldorf Astoria Towers, the highly publicized condominium conversion of the iconic Waldorf Astoria hotel.

Overall City/Market Supply:

There are currently 6,138 apartments on the market ready to sell. Overall listing supply crept up just 0.6% from the week before, but the key takeaway is that inventory remains 9.7% lower than this time last year. That has been the story throughout the entire 2026 selling season: historically low inventory. At this point in the year, the chances of seeing any meaningful increase in overall supply are extremely low. New listing activity typically begins to taper off, and overall inventory starts its seasonal decline towards the winter months, usually bottoming out in January before picking up again in spring. So what we are seeing right now could very well be the peak of inventory for the fall season, if not the entire year. Surprising? Perhaps, but not all that surprising considering how tight inventory has been throughout 2026. Looking at the weekly numbers, 310 new listings came to the market last week, down 9.4% from the week before, but 2.4% higher than the same week last year. Another interesting statistic is that the number of sellers taking their property off the market unsold is beginning to rise. Last week, 136 apartments were taken off the market, up 18.3% from the previous week. Look for the weekly pace of new listings to continue diminishing as we move closer to the holiday season, while the number of properties coming off the market unsold will likely continue to increase. The takeaway is that even at what may be the peak of fall inventory, Manhattan supply remains nearly 10% below last year’s levels. And with the seasonal decline now approaching, buyers could find themselves with even fewer choices as we head toward winter.

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

Over the last 30 days, 732 apartments went into contract, up 9.6% week-over-week, but still 12.3% lower than this time last year. While it’s encouraging to see an almost 10% jump from the previous week, this is also the point in the fall market when we expect contract activity to begin picking up. First, the listings come on the market in September, and then those listings begin going into contract during October and early November. Look for the rolling 30-day pace to continue rising over the next 2 to 4 weeks. However, one important takeaway is that while overall inventory is running roughly 10% below last year’s levels, the contract-signing pace is down 12.3% year-over-year. That is definitely worth noting. Despite the recent pickup in activity, buyer demand is still lagging last year's, and the next several weeks will tell us whether the market can begin closing that gap. Looking at the weekly numbers, 191 apartments went into contract last week, down 2.1% from the week before and 5% lower than the same week last year. However, keep in mind that last week included the Columbus Day holiday, which may have contributed to this late slowdown in contract activity. Looking ahead, this is traditionally when the fall market really starts to get going. Look for weekly contract signings to gain momentum over the next 3 to 4 weeks as buyers begin putting September’s new listings into contract. How quickly and strongly the contract-signing pace rebounds will define the 2026 fall season.

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: