105 East 35th Street

105 East 35th Street

Murray hill

Asking $5,200,000

5 Bed  |  7 Bath | 5,695 SqFt | Building

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-1853 4-Family Townhouse
-Fair Market Rentals
-Central A/C Throughout
-Fully Renovated Units

Calling all investors! This beautifully maintained historic townhouse features four fully occupied units, outdoor space and an ideal location on one of Murray Hillโ€™s prettiest blocks.

-Overview: Each expansive, full-floor home in this handsome building features high ceilings, hardwood floors, oversized lattice casement windows on the northern and southern exposures, beautifully renovated kitchens with stainless steel appliances, and central air conditioning throughout the all floors of the building.

- Unit 1 is a one-bedroom, one-and-a-half-bathroom garden apartment with generous closet space, exposed brick a new open kitchen and an indoor-outdoor layout that flows to a fenced backyard.
- Units 2 and 3, are one-bedroom, one-bathroom homes with fireplaces and king-size bedrooms and extra tall ceiling heights.
- Unit 4 is a stunning duplex penthouse featuring an extra-large living space, two bedrooms, two full baths and spacious home office. The upper level of the duplex features a north-facing terrace.

Updated common areas, a shared roof deck and a large basement with storage, laundry, bathroom and outdoor access completes this turnkey investment.

History: One of the first residences in the Murray Hill Historic District, the Francis Key Pendleton House was built in 1853 in the Italianate style with an English basement plan popular at the time. Altered over the decades, the distinctive building retains its bold cornice, arches and sills alongside the addition of statuary and carved panels. By 1885, lawyer Francis Key Pendleton โ€” the son of a prominent politician and the grandson of Francis Scott Key, lyricist of the โ€œStar-Spangled Bannerโ€ โ€” occupied the residence. Pendleton and his second wife were well known in The Gilded Ageโ€™s upper echelon of society, earning a place among The Four Hundred, the notorious list of New York Cityโ€™s most prominent citizens.

Neighborhood: Located between Park and Lex on a lovely street lined with trees and brownstones, this building enjoys an ideal combination of old New York warmth and easy access to Midtown, NoMad, Gramercy and the Flatiron District amenities. The local blocks are lined with phenomenal shopping, dining and nightlife venues, including Trader Joeโ€™s, Fairway and the Kips Bay AMC theater. St. Vartan Park and the East River Esplanade provide nearby outdoor space, with Bryant Parkโ€™s beautiful outdoor space and year-round events just a few blocks away. Transportation is effortless with 4/5/6, S, 7, N/Q/R/W, B/D/F/M and PATH trains, excellent bus service, CitiBike stations, East 34th Street Ferry Terminal and the Midtown Tunnel all close by.

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Our 2024 Numbers Are In...

Weโ€™re excited to share that our numbers for 2024 are officially in, and itโ€™s all because of YOU!

To every client who trusted us with one of lifeโ€™s biggest decisions โ€” whether buying, selling, or investing in real estate โ€” we are profoundly grateful. Your trust and confidence in our team made this year truly remarkable.

From milestone closings to building lasting relationships, we couldnโ€™t have done it without your continued support and referrals.

Hereโ€™s to even greater success in the coming year. Thank you for being a part of our journey!

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241 Fifth Avenue, Unit 12C

241 Fifth Avenue, Unit 12C

nomad

Asking $1,175,000

1 Bed  |  1 Bath | Condo

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Experience modern luxury at Apartment 12C, 241 Fifth Avenue โ€” a stunning condominium in the heart of NoMad, just steps from the iconic Madison Square Park.

This thoughtfully designed one-bedroom home features floor-to-ceiling windows that frame breathtaking eastern views of the iconic New York Life Building. The spacious layout is highlighted by elegant white oak flooring, abundant closets, and bright, airy living spaces. The open-concept kitchen is a chefโ€™s dream, outfitted with Miele stainless steel appliances, sleek glass cabinetry, basaltina stone countertops, and a porcelain backsplash. Convenience is at your fingertips with a Bosch Axxis washer/dryer and individual climate control units in every room. The luxurious bathroom offers a serene escape, complete with a deep soaking tub, premium fixtures, and heated stone flooring.

Residents of 241 Fifth Avenue enjoy boutique condominium living with a suite of top-tier amenities, including a 24-hour doorman, concierge service, rooftop terrace, fitness center, yoga room, resident lounge, and a beauty/massage treatment room.

Situated in one of Manhattan's most dynamic neighborhoods, this prime location offers unparalleled access to world-class dining, trendy bars, boutique shopping, cultural landmarks, and convenient transportation options.

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The Monthly Update - February 2025

January 2025 in Review

Last month, I found myself constantly checking my news app, captivated by the significant changes unfolding within the federal government. While there's still much to be resolved and the impact on Manhattan and Brooklyn's real estate markets remains uncertain, I can share insights from the first third of the first quarter of 2025.

As we entered January 2025, one of the standout observations was the inventory level. At the start of the month, Manhattan had approximately 5,000 units on the market, marking the lowest Q1 start since 2016. Since then, inventory has been gradually increasing, though it remains about 7% lower than this time last year. Many industry experts anticipate a rebound to normal levels by March, but the current low inventory is already influencing both sellers and buyers.

Open houses have seen a resurgence, with buyers actively attendingโ€”an almost post-COVID novelty! We've even witnessed a few bidding wars. For instance, a three-bedroom on East 9th Street sparked competitive offers, and a two-bedroom on East 71st Street, relisted for $100,000 above the previous broker's price, sold for an additional $20,000. These developments highlight increased buyer urgency, likely driven by the limited inventory.

I regularly monitor the 30-day pace of buyer demand, and as we wrapped up 2024, it was about 20% higher than the previous year. This indicates a significant uptick in inventory under contract. Although January is typically a slow period for new listings and contracts, the in-contract rate is still approximately 8% higher than last year. This suggests that buyers are returning to the market, continuing the momentum from strong Q3 and Q4 numbers. It will be interesting to see how this trend evolves as more inventory becomes available, offering buyers additional choices.

In January 2025, interest rates have remained steady around 6.5%, with a slight dip closer to 6% as I write this newsletter. The Federal Reserve is not expected to adjust rates until mid to late summer, having opted to maintain the status quo at the end of last month without further commentary. While the Fed's plans can shift monthly, industry professionals remain cautiously optimistic as we progress through Q1.


Local Happenings

Hana House: AAPI Lunar New Year Market

February 1st

Celebrate the Year of the Snake at a festive market featuring AAPI vendors with traditional food, crafts, and live entertainment. Enjoy vibrant stalls, live music, and fun activities for all ages!

Click HERE to learn more!

NY Botanical Garden 2025 Orchid Show

February 15th

This yearโ€™s show transports you to Mexico, blending traditional and contemporary artistry inspired by the bold designs of architect Luis Barragรกn. Celebrate diverse ecosystems and cultures.

Click HERE to learn more!


Listing Spotlight

View All Our Listings

Lifestyle Tips and Tricks

How to Stage Living Spaces When Selling Your Home

Potential homebuyers are looking for cozy living spaces where they can relax with family as well as entertain friends. Learn staging secrets that will make your living room, den or family room irresistible to buyers.

Courtesy of HGTV

7 Bathroom Design Trends to Watch in 2025

Consider these up-and-coming design trends if you're planning a bathroom makeover in 2025.

Courtesy of US News


Stay Connected

The Frick Announces April Reopening Date of Upper East Side Mansion

The Frick Collection officially has a reopening date. The museum announced it will return to its historic Upper East Side home on April 17, following a five-year renovation of its mansion at 1 East 70th Street by Selldorf Architects and Beyer Blinder Belle. The project restored the original galleries, added new galleries to the second floor, expanded exhibition space, and revived the 70th Street garden. During the renovation, the Frick temporarily resided in the iconic Breuer Building from 2021 until March 2024.

The James S. and Barbara N. Reibel Reception Hall, overlooking the 70th Street Garden; rendering courtesy of Selldorf Architects

โ€œWe are excited to welcome visitors to experience a revitalized Frick Collection and to enjoy all that makes the Frick such a unique institution within the cultural landscape of New York City,โ€ Ian Wardropper, the Frickโ€™s outgoing Anna-Maria and Stephen Kellen Director, who is stepping down after 14 years, said.

โ€œIntimate encounters with iconic works of art remain a cornerstone of the Frick experience. Visitors will now be able to experience even more of our collection and programs thanks to the many architects, preservation experts, curators, artisans, and innumerable museum and library staff who have collaborated to restore the original mansion while also creating new galleries, program spaces, and public amenities.โ€

Entrance Hall; rendering courtesy of Selldorf Architects

Once serving as the private living quarters for the Frick family, the museumโ€™s second floor has functioned as staff administrative offices since 1935. Now, this space has been restored and transformed into ten galleries, opening the floor to the public for the first time.

The galleries will showcase exhibitions inspired by the Frick familyโ€™s personal collections over time, featuring Renaissance gold-ground panels and Impressionist paintings. Other exhibits include significant collections recently acquired by the museum, as well as pieces that havenโ€™t been regularly exhibited, like ceramics, rare portrait medals, and the first-ever permanent display of the Frickโ€™s collection of clocks and watches.

The second-floor landing, which leads to a series of new galleries for the display of small-scale objects from the permanent collection; rendering courtesy of Selldorf Architects

A highlight of the second floor is the Boucher Room, which has moved from its previous location on the first floor to its original setting in the former private sitting room of Adelaide Childs Frick, wife of founder Henry Clay Frick.

Additionally, a new Cabinet Gallery on the first floor will debut with a display of 12 rare drawings. These works, which are rarely exhibited due to their sensitivity to light, feature sketches and highly finished drawings by legendary artists such as Degas, Goya, Ingres, and others.

The featured artworks span from the 15th to 19th centuries and complement the museumโ€™s collection of paintings, sculptures, and decorative arts. The exhibit will be on view from the reopening into the summer of 2025.

The Frick Art Research Library and its renovated Reading Room will open alongside the museum, with new entry points on multiple levels that provide a seamless integration of the Frickโ€™s two branches.

The project also includes the restoration of the 70th Street Garden, which is now visible from multiple vantage points throughout the building.

The Frickโ€™s inaugural season will showcase a dynamic mix of special installations and engaging public programs throughout the revitalized building. Highlights include a special commission by sculptor and ceramicist Vladimir Kanvesky, featuring porcelain flowers that pay tribute to the floral arrangements commissioned for the museumโ€™s grand opening in 1935.

Special Exhibition Gallery; rendering courtesy of Selldorf Architects

The Stephen A. Schwarzman Auditorium; rendering courtesy of Selldorf Architects

In late April, the museum will celebrate the opening of the new 220-seat Stephen A. Schwarzman Auditorium with a weeklong music festival featuring classical and contemporary works. The new music hall replaces the museumโ€™s previous 149-seat music room, which was criticized by opponents of the renovation project, as reported by the New York Times.

In June, the Frick will inaugurate its new first-floor special exhibition galleries with โ€œVermeerโ€™s Love Letters.โ€ This exhibition continues the museumโ€™s tradition of focused presentations that re-examine masterworks from its permanent collection.

The exhibition pairs the artistโ€™s โ€œMistress and Maid,โ€ which is owned by the Frick, with โ€œLove Letter, from Amsterdamโ€™s Rijksmuseum, and โ€œWomen Writing a Letter, With Her Maid,โ€ from the National Gallery of Ireland, according to the Times.

The Frick first announced plans to expand in 2014, but the effort was shut down after preservationists and architects opposed the plan to fill the Russell Page garden. In 2016, the Frick tapped Selldorf to redesign an expansion that retained the garden. Initial renderings were unveiled in April 2018.

The Frick Collection from East 70th Street; rendering courtesy of Selldorf Architects

โ€œIt has been an honor and privilege to work on the Frick renovation and enhancement project,โ€ Annabelle Selldorf, principal of Selldorf Architects, said. โ€œWe have worked carefully to develop an architectural vocabulary for the project that is continuous with the existing historic fabric yet employs distinct but appropriate contemporary detailing in the faรงades and interiors.โ€

โ€œI believe that this careful blending of old and new will make people feel even more welcome as they return to, or discover for the first time, the Frick, its collection, and its beautiful setting.โ€

The cityโ€™s Landmark Preservation Commission approved the Frick renovation plan in June 2018, despite pushback from preservationists and neighborhood advocates. Opponents expressed concerns about restoring the museumโ€™s original gated garden and urged the LPC to consider designating the museumโ€™s John Russell Pope-designed music room as a landmark to prevent its replacement.

The Frick took over Madison Avenueโ€™s famous Breuer building from the Metropolitan Museum of Art in February 2021 while the renovation project commenced. The iconic Brutalist landmark, located at 945 Madison Avenue, was home to the Whitney Museum of American Art until 2016.

On March 3, Frick Madison closed its doors in preparation for its move back to its newly-renovated home. To celebrate its final months at the Breuer, the museum hosted a series of free public programming, special installations, and exclusive member offerings.


The Frick announces April reopening date of Upper East Side mansion

By Aaron Ginsburg

January 28, 2025

Cover Photo: The Frick Collection from East 70th Street; rendering courtesy of Selldorf Architects

Bryant Park Grill Is Closing, A Jean-Georges Restaurant Will Replace It

After 30 years in business, the Bryant Park Grill is set to close and be replaced by a new Jean-Georges Vongerichten venture. As first reported by Crainโ€™s New York, the iconic 1,000-seat restaurant, which sits behind the New York Public Library and generates nearly $30 million in sales annually, will not have its lease renewed by the Bryant Park Corporation when it expires in May. Bryant Park officials said the restaurant had become โ€œtiredโ€ and that it was time for a fresh start with a new operator.

Jean-Georges Vongerichten is a world-renowned French-American chef with several restaurants around the world, including more than a dozen in New York City.

Bryant Park Corporation Executive Director Dan Biederman informed members of Manhattan Community Board 5โ€™s parks and public spaces committee about the change on Monday, according to Crainโ€™s.

According to Biederman, Jean-Georges has โ€œthe best combination of operating record, financial strength, and creative talent in food and design.โ€ A lease is expected to be signed in a couple of days and the contract would last for 18 years.

Jean-Georges is 25 percent owned by Seaport Entertainment Group, a public company that owns the South Street Seaport. The New York Times reported in October that Jean-Georges would likely be the winning bid.

Matt Partridge of the Seaport Entertainment Group told the community board on Monday the restaurant will undergo a $12 million renovation and be fully open by May 2026.

The Bryant Park Grill generates $28 million in annual sales and pays $3 million in rent, helping fund the park, which receives no city funding. The new restaurant could generate up to $40 million in sales, according to Biederman.

Roughly 250 employees are set to lose their jobs, but all of the workers will be โ€œgiven an opportunity to interviewโ€ for a job at the new restaurant, Partridge said during Mondayโ€™s board meeting. However, that likely means a long wait for the hiring process.

After the grill closes, it will take approximately eight to 10 months for the new restaurant to undergo renovations and open for business.

The grill, which has been owned by 81-year-old Michael Weinstein since its creation, is experiencing โ€œsuccession issues,โ€ according to Biederman.

Weinstein urged community board members to โ€œcarefully scrutinizeโ€ the plan to replace the grill. The cityโ€™s Parks Department will ultimately need to approve Bryant Park Corporationโ€™s plan to grant Jean-Georges the license to operate the business.

The restaurant is vowing to continue its fight to stay open and protect the jobs of its 250 employees.

โ€œDan Biederman is trying to kick out the one institution most responsible for transforming Bryant Park into what it is today. We have been steadfast members of this community for 30 years and offered to pay a higher rent than any of our competitors,โ€ Weinstein said in an official statement.

โ€œBut Dan Biederman and his board are turning their back on the Park: the lease theyโ€™re considering with Jean-Georges would mean less funding for the park, higher menu prices for midtown diners, and 250 New Yorkers put out of a job. Weโ€™ll keep fighting to stop this disastrous proposal.โ€


Bryant Park Grill closing this spring, will be replaced by a Jean-Georges restaurant

By Aaron Ginsburg

January 28, 2025

Cover Photo Credit: John Wisniewski on Flickr

40 East 9th Street, Unit 5M

40 East 9th Street, Unit 5M

greenwich village

Asking $2,250,000

3 Bed  |  2 Bath | Co-op

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Modern luxury living awaits in this turnkey three-bedroom, two-bathroom residence, featuring expansive designer interiors, private outdoor space, abundant custom storage, and a coveted location within a full-service, postwar Greenwich Village cooperative.

Inside this sprawling, sun-kissed owner/broker unit, tall ceilings dotted with recessed lighting and Jonathan Adler flush fixtures rise above wide-plank hardwood floors, pristine white art walls and handsome built-ins, including neat AC covers throughout. The gracious foyer greets you with plenty of space for bench seating and an adjacent coat closet. Ahead, the desirable open layout provides a wonderful flow for entertaining and busy daily life: Plan your next dinner party in the inviting banquette dining room, stretch out and relax in the sunny living room, or retreat to the oversized south-facing balcony for al fresco dining and lounging. At the heart of the well-appointed great room is the exquisite open gourmet kitchen, where sleek custom cabinetry and quartzite countertops are joined by a wide waterfall island/breakfast bar. Cooking is a joy with a fleet of upscale stainless steel appliances, including a vented Wolf range, Sub-Zero French door refrigerator and wine refrigerator, Cove dishwasher and Wolf microwave.

The homeโ€™s serene private quarters begin with a king-size primary suite featuring a wall of custom closets and an en suite spa bathroom with a rain shower, floating vanity, two-stage Kohler commode and illuminated medicine cabinet, all surrounded by floor-to-ceiling marble tile. Off the living room, youโ€™ll find a spacious and bright secondary bedroom, while the third bedroom features a southwest-facing window and ideal setup for home office use thanks to its built-in cabinetry and retractable desktop. Across the hall, the marble guest bath is finished with a large tub/shower, Kohler commode and contemporary fixtures. Sonos ceiling speakers in the great room, kitchen and primary suite set the perfect ambiance in this exceptional Greenwich Village sanctuary.

One of Greenwich Villageโ€™s most celebrated cooperatives, The Sheridan greets residents and guests with beautiful gardens that set the building back from the tree-lined street. Enjoy 24-hour doorman and live-in resident manager service, a package room, laundry, storage (currently waitlisted), a bike room, and an on-site, privately run parking garage. Pets, parents buying for children, guarantors and 70% financing are permitted with board approval. Hallway renovations are underway and expected to be completed by the end of Q1.

Ideally situated between Union Square and Washington Square, this outstanding Greenwich Village location puts the best of Downtown living right outside your door. Enjoy fantastic shopping, dining, nightlife and entertainment venues, including Whole Foods, Trader Joe's, Wegmanโ€™s, Citarella, Irving Plaza, Webster Hall and the Union Square greenmarket. NYU is inches away, and transportation is effortless with N/Q/R/W, 4/5/6, L, A/C/E, B/D/F/M and PATH trains, excellent bus service and CitiBikes all within easy reach.

*Broker/owner

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Corpse Flower Is About To Bloom At The Brooklyn Botanic Garden

New York Cityโ€™s favorite funky-smelling flower is preparing to bloom in Brooklyn. โ€œAmorphophallus gigas,โ€ nicknamed the โ€œcorpse flowerโ€ for the rotting flesh odor it emits, is expected to blossom at the Brooklyn Botanic Garden this week. The foul flower blooms every two to 10 years and only lasts a few days.

BBG gardener Chris Sprindis stands by the plant. Photo credit: Elizabeth Peters/BBG

Native to Sumatra in Indonesia, โ€œAmorphophallus gigasโ€ is smaller than the โ€œAmorphophallus titanum,โ€ which is a larger corpse flower with a spadix that can grow up to 12 feet. The titan corpse flower bloomed at the New York Botanical Garden in 2023.

When fully in bloom, the flower gives off a stench sometimes described as rotting meat to attract pollinators that feed on dead animals.

โ€œAmorphophallus gigas is a close relative of the more common in cultivation Amorphophallus titanum, the corpse flower that often makes the news,โ€ BBG gardener Chris Sprindis said. โ€œI think this is an equally impressive species, though less known in cultivation. Like the titanum, it will smell like rotting flesh.โ€

The flower is in the gardenโ€™s Aquatic House, which houses tropical and subtropical aquatic and wet-environment plants and a collection of orchids.

The gardenโ€™s hours are 10 a.m. to 4:30 p.m. Tuesday through Sunday. Admission costs $22 for adults; on winter weekdays through February, tickets are pay-what-you-wish.


A corpse flower is about to bloom at the Brooklyn Botanic Garden

By Devin Gannon

January 22, 2025

Cover photo Amorphophallus gigas at the Brooklyn Botanic Garden on January 22, 2025. Photo credit: Peter Slattery/BBG

421 West 22nd Street, Unit 1

421 West 22nd Street, Unit 1

chelsea

Asking $3,500,000

3 Bed  |  2 Bath | Condo

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Experience exceptional indoor-outdoor living and sophisticated designer details in this contemporary three-bedroom, two-bath duplex, ideally situated in the heart of the Chelsea Historic District.

Enter the parlor level of this 1856 townhouse and be greeted by hardwood floors, exposed brick, and soaring 12-foot sound-isolated ceilings. The expansive living/dining area features a custom linear gas fireplace, recessed 70โ€ smart TV with surround sound, and a wall of glass overlooking the lush private garden. Step outside to enjoy a serene retreat with a bluestone patio, sleek slat fencing, a pergola, manicured landscaping, and an inviting fire pitโ€”perfect for summer gatherings and quiet evenings.

The open chefโ€™s kitchen is a showstopper, complete with marble countertops, a spacious breakfast bar, and high-end Viking and Bosch appliances, including a gas cooktop, oversized oven, dishwasher, and built-in microwave. A stylish full bathroom with designer finishes, radiant heat floors, and ample hallway storage complements the well-designed main floor, along with a spacious bedroom with built-in cabinetry.

Downstairs, the luxurious ownerโ€™s suite opens directly to the garden and boasts a walk-through closet, an ensuite spa bathroom with a double vanity, oversized shower for two, radiant heat floors, and a separate makeup counter. A third bedroom, a laundry room with a Bosch washer-dryer and integrated ironing station, and additional built-in storage complete this level. Smart home features include Lutron lighting and shades, built-in speakers, an ADT alarm system, and four-zone climate control, ensuring modern convenience. This unit also includes an 80-square-foot basement storage space, currently utilized as a workshop.

421 West 22nd Street is a boutique condominium in a beautifully updated Anglo-Italianate townhouse. Converted in 2015, the pet-friendly building offers low common charges, voice intercom entry, good management, and a part-time super. Located just steps from the High Line, Hudson River Park, Chelsea Market, Whole Foods, Trader Joe's, and world-class galleries, this home is surrounded by vibrant amenities and excellent transit options, including A/C/E, 1/2, PATH trains, and CitiBike stations.

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15 Best Attractions To Check Out During 'NYC Must-See Week'

During the height of New York Cityโ€™s blistering winter, the cityโ€™s tourism agency has found a clever way to entice New Yorkers out of the comfort of their homes. From January 21 through February 9, โ€œNYC Must-See Weekโ€ offers two-for-one tickets to some of the cityโ€™s most sought-after attractions, museums, live performances, and tours across the five boroughs. Ahead, discover some of the best attractions to visit during Must-See Week, from architecture walking tours to observation decks and everything in between.

Museums

Museum of the City of New York
The Museum of the City of New York captures the vibrant essence of the five boroughs, showcasing the cultures, people, sounds, and sights that define the cityโ€™s unique personality. A highlight of the museumโ€™s offerings is โ€œTimescape,โ€ a 22-minute multimedia history of NYC narrated by Stanley Tucci. Two-for-one admission costs $23 and can be purchased here.

Guggenheim
Housed within the world-renowned Frank Lloyd Wright-designed building, the Guggenheim Museum is celebrated for its unique and innovative exhibitions, displayed along a large ramp that spirals upwards through the cylindrical structure. Two-for-one admission costs $30 and can be purchased here.

The Paley Museum
Anyone interested in television, radio, the internet, and digital technologies shouldnโ€™t miss the Paley Museum. Featuring a public library of over 160,000 TV, radio shows, and commercials, the center hosts dozens of daily screenings of classic episodes of shows like โ€œI Love Lucyโ€ and โ€œThe Muppet Show,โ€ as well as special films about topics like presidential campaign ads, the representation of teens in popular media, and more. Two-for-one admission costs $11 and can be purchased here.

Museum of the Moving Image
Astoriaโ€™s Museum of the Moving Image is the only institution in the country dedicated to the art, technology, and cultural impact of film, television, and digital media. Home to the largest collection of moving image artifacts in the U.S., the museum screens hundreds of films annually and offers a variety of educational programs. Its main exhibition, โ€œBehind the Screen,โ€ invites guests to dive into the creative process behind moving images through interactive experiences, rare artifacts, unique artworks, and more. Two-for-one admission costs $23 and can be purchased here.

Image courtesy of Edge

Observation decks

Edge
Take in breathtaking views from the highest outdoor observation deck in the Western Hemisphere. Located on the 100th floor of 30 Hudson Yards, Edge offers guests unobstructed views of the Manhattan skyline, the Hudson River, and the city below. Two-for-one admission costs $20 per person and can be purchased here.

Empire State Building Observatory
Located in one of the worldโ€™s most iconic skyscrapers, the Empire State Building Observatory offers stunning views from one of the highest vantage points in the five boroughs. Situated on the 86th and 102nd floors, visitors can also explore an immersive museum on their way to the top, learning about the buildingโ€™s rich history and significance. Two-for-one admission costs $102.26 and can be purchased here.

Top of the Rock Observation Deck
Perched atop 30 Rockefeller Plaza, the Top of the Rock features three levels of indoor and outdoor observation decks, offering breathtaking, unobstructed views of the city skyline. With terraces facing north, south, east, and west, itโ€™s one of the cityโ€™s premier observation decks. For a little extra, guests can enhance their visit with two new attractions: the Skylift, which elevates visitors above the deck for unparalleled views, and the Beam, where they can recreate the iconic โ€œLunch Atop a Skyscraperโ€ photo. Two-for-one admission costs $43.56 and can be purchased here.

Photo by Brittany Petronella

Tours

Rockefeller Center Tour
Explore the rich history, art, and architecture of Rockefeller Center on a guided tour. Expert guides will take guests through the iconic complex, offering insights into its famous landmarks, streets, and buildings. Two-for-one admission costs $58.80 and can be purchased here.

Build Tours
This Must-See Week, embark on an engaging tour across the city to explore some of its most iconic architectural marvels. Guided by distinguished architects, urban planners, and art historians, Build Tours offers an immersive and educational experience, showcasing everything from stately brownstones to soaring skyscrapers. Itโ€™s a must-see for architecture enthusiasts and curious tourists alike. Two-for-one admission costs $51.94 and can be purchased here.

Untapped New York
Discover more about some of the cityโ€™s most unique spots that are off the beaten path. Untapped New York offers guests exclusive access to places usually off-limits to the public and uncovers secret stories behind some of the cityโ€™s famous landmarks. Two-for-one admission costs $41.34 and can be purchased here.

On Location Tours
Explore iconic locations from your favorite movies and TV shows with On Location Tours. Led by local actors and actresses, these tours include fan favorites like the NYC TV & Movie Tour, Sex and the City Hotspots Tour, Sopranos Sites Tour, Gossip Girl Sites Tour, and more. Group tours and private tours are also available. Two-for-one admission costs $21.20 per person and can be purchased here.

Inside Out Tours
Offering off-the-beaten-path bus and walking tours of NYC, Inside Out Tours is a great option to learn more about the lesser-known facts and stories behind the cityโ€™s neighborhoods. They offer gospel tours, jazz house tours, historic tours, food tours, art tours, and shopping tours in English, Spanish, French, and Italian. Two-for-one admission costs $24.50 per person and can be purchased here.

Image courtesy of QC NY

Other attractions

QC NY
This winter, treat yourself to a relaxing day spa experience without leaving NYC. Located in former military buildings on Governors Island, QC NY offers over 20 wellness experiences, including saunas, steam rooms, relaxation areas, outdoor gardens, water therapies, and breathtaking skyline views from its heated outdoor pool. Two-for-one admission starts at $102.41 for entrance after 5 p.m. and can be booked here.

New York Botanical Garden
Venture through the New York Botanical Gardenโ€™s lush grounds, taking in extravagant displays of nature. Across the gardenโ€™s 250 acres, explore collections in tropical rainforests, cactus-filled deserts, curated palm tree displays, and much more. Two-for-one admission costs $17.50 per person and can be purchased here.

Artechouse
Experience the latest and best works in 21st-century art at Artechouse. The art center offers experiential, one-of-a-kind art exhibits and explorations by groundbreaking artists pushing the limits of creative expression. Two-for-one admission costs $25.98 and can be purchased here.


15 best attractions to check out during NYC Must-See Week

By Aaron Ginsburg

January 17, 2025

Cover photo: Brooklyn Bridge Park. Photo ยฉ Julienne Schaer

310 West 56th Street, Unit 5A

310 West 56th Street, Unit 5A

hellโ€™s kitchen

Asking $975,000

2 Bed  |  2 Bath | Co-op

Learn more

 

Welcome to 310 West 56th Street, Unit 5A. This spacious and contemporary two-bedroom, one-bath home is perfectly situated in the heart of Hellโ€™s Kitchen. Offering a blend of comfort, style, and convenience, it is located in a full-service building with a doorman, live-in super, laundry facilities, and bike storage.

Upon entering, youโ€™re greeted by a beautifully renovated kitchen. Featuring white cabinetry, quartz countertops, a tiled backsplash, and a breakfast bar, the kitchen is equipped with high-end stainless-steel appliances, including a Bosch range and dishwasher. Adjacent to the kitchen, a large closet provides ideal storage for coats and other essentials.

The open-concept layout seamlessly connects the kitchen to the expansive living and dining area, creating a perfect space for entertaining. Oversized south-facing windows flood the space with natural light, enhancing its warm and inviting atmosphere. The living/dining area easily accommodates a dining table for six or more, a large sectional sofa, a coffee table, and a media console.

Off the living area, a hallway leads to the secondary bedroom, primary bedroom, and bathroom. The secondary bedroom comfortably fits a queen-sized bed and features oversized windows. This versatile room can also function as a home office, study, or be expanded to enlarge the living area.
Across the hall, the updated bathroom boasts modern lighting, a sleek medicine cabinet, and a shower/bath combo with elegant white tile and a mosaic backsplash.

At the end of the hallway, the spacious primary bedroom awaits, complete with large picture windows overlooking lush treetops. The room easily accommodates a king-sized bed, along with additional furniture such as a dresser or sitting area. It also includes a walk-in closet and a secondary wall closet, offering abundant storage.

310 West 56th Street is located on a serene, tree-lined street just 2.5 blocks from Columbus Circle, 3 blocks from Central Park, and within walking distance of renowned restaurants, shops, museums, and Whole Foods. The building offers convenient access to multiple transportation options, making it an ideal place to call home. Pets are welcome, financing up to 75% is allowed, and rentals are permitted.

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Port Authority Secures $1.9B Federal Loan for Bus Terminal Replacement

The Port Authority of New York and New Jersey secured a major loan from the federal government for its Midtown bus terminal replacement project this week, just days before President-elect Donald Trump takes office. The agency will receive $1.9 billion from the U.S. Department of Transportation to fund the first phase of the $10 billion project. The Port Authority has scrambled to get the necessary federal approvals before Trumpโ€™s inauguration, fearing he would halt the project.

Rendering courtesy of the Port Authority of New York and New Jersey

The loan, issued through the Build America Bureau, is a Transportation Infrastructure Finance and Innovation Act (TIFIA) loanโ€”the first time the Port Authority has used this program in its 25-year history. In addition to the loan, financing for the first phase will include Port Authority capital funding.

Along with the $3 billion allocated in the Port Authorityโ€™s 10-year construction plan, the loan covers nearly half of the terminalโ€™s estimated $10 billion price tag, according to Gothamist.

โ€œThis federal loan for this vital interstate transportation facility will enable the Port Authority to build a 21st century bus terminal that commuters from New Jersey and communities in New York City deserve and will rely on for decades to come,โ€ Port Authority Chairman Kevin Oโ€™Toole said.

โ€œI thank our federal partners for their support of a project that will generate economic benefits for our entire region while improving the quality of life for commuters and the community where the terminal is located.โ€

Plans to replace the terminal have been circulating since 2013 to account for the growth in ridership. Since then, nearly 30 separate proposals have been produced.

A major driver for the new terminal is anticipated growth in bus ridership. On an average weekday in 2019, the terminal saw approximately 260,000 passengers on 7,800 buses, making up roughly 23 percent of trips in and out of Manhattanโ€™s core. However, officials estimate that this number could rise to 337,000 passengers daily by 2040, as reported by Crainโ€™s.

Credit: Foster + Partners & Epstein

โ€œFor decades, one of the busiest bus terminals in the world deteriorated and needed major upgrades and modernization,โ€ Assistant Secretary for Transportation Policy Christopher Coes said. โ€œWith over 250,000 daily passengers and even higher demand predicted, this project is crucial to the region and the health of our economy, creating 6,000 construction jobs in the process.โ€

Under the redesign, the facility will feature a new 2.1 million square foot main terminal, a separate storage and staging building, and new ramps leading directly in and out of the Lincoln Tunnel, significantly improving capacity, bus speed, and congestion on adjacent streets.

The project will also permanently close a portion of 41st Street between Eighth and Ninth Avenues and includes a central main entrance, additional street-facing retail, and a large multi-story atrium.

Courtesy of Port Authority of New York and New Jersey

The new storage space, slated for construction to the west of the terminal on 40th Street between Ninth and 10th Avenues, will enable buses to idle before heading to gates to pick up riders. Currently, buses are forced to sit and wait, causing traffic on nearby streets.

Additionally, existing traffic lanes on Dyer Avenue will be covered by roughly 3.5 acres of public green space. A winding ramp connecting the Lincoln Tunnel will make up the western portion of the project, stretching the existing footprint of the site along 40th Street to 10th and 11th Avenues.

The facility will be built with the future in mind, designed to achieve net-zero emissions, accommodate all-electric bus fleets, and utilize modern technology throughout.

The building will also include sustainability and resiliency measures, including LEED certification and clean construction, onsite renewable energy, zoned heating and cooling systems, and heat recovery and reuse technology.

The new park, ramps, and storage space could be completed by 2028, while the main terminal building is slated for completion in 2032.

The project will also fund its redevelopment through two commercial skyscrapers that will be built along Eighth Avenue, on the corner of 40th and 42nd Streets. A third office tower, to be built on land bounded by West 30th and West 31st Streets and Ninth and 10th Avenues, would also support the project.

PANYNJ and Mayor Eric Adams agreed in March to an arrangement that contributes up to $2 billion in property tax revenue from the commercial towers to help fund the terminalโ€™s redevelopment, according to Crainโ€™s.

In August 2022, the Port Authority selected the architecture firm Foster + Partners and the engineering and design team Epstein to design the new facility and renderings of the projectโ€™s current design were released earlier this year.

In September, PANYNJ and the FTA signed the final environmental impact statement for the terminalโ€™s redevelopment. The signing, a major step towards a federal record of decision on the project, followed a final round of public hearings that produced more than 700 public comments.

The City Planning Commission in October voted unanimously to approve the bus terminalโ€™s revamp. In November, the project was approved by the City Council.


Port Authority secures $1.9B federal loan for bus terminal replacement before Trump takes office

By Aaron Ginsburg

January 16, 2025

Cover rendering credit: Foster + Partners & Epstein

79 West 12th Street, Unit 6BC

79 West 12th Street, Unit 6BC

Greenwich Village

Asking $1,595,000

2 Bed  |  2 Bath | Co-op

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Discover the perfect blend of space and sophistication in this stunning combo unit on West 12th Street. This expansive residence features two bedrooms, two bathrooms, and a versatile home office/den or bonus space, offering flexibility for work or relaxation. The spacious living area faces south and is bathed in natural light all day. The compact but mighty kitchen is updated with stainless steel appliances, and premium countertops, and is directly across from a walk-in pantry closet with generous storage space. The spacious primary includes an oversized walk-in closet and a built-in desk. Nestled in the heart of Greenwich Village, this home places you amidst a rich tapestry of historic charm, eclectic dining, boutique shopping, and vibrant cultural experiences.

The Lawrence House is a Greenwich Village gem, offering a 24-hour attended lobby, a live-in superintendent, a well-maintained laundry room, and a stunning roof deck. Its prime location provides easy access to the vibrant restaurants, cafes, and shops along 6th Avenue, with Washington Square Park and Union Square just a few blocks away. Transportation options are abundant, including the 1/2/3, F, 4/5/6, N/Q/R, and L subway lines and the M55, M7, and M14 bus routes.

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45 West 54th Street, Unit 10A

45 West 54th Street, Unit 10A

midtown

Asking $550,000

1 Bed  |  1 Bath | Co-op

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Experience a true sanctuary in the heart of Midtown! Nestled on a prestigious block in Midtown West, surrounded by landmarked townhomes, dining options, luxury hotels, and the iconic Museum of Modern Art, this oversized one-bedroom, one-bathroom home offers quick access to all that Manhattan has to offer while also providing a peaceful retreat at the end of a busy day or during weekends.

Step into a welcoming living area spacious enough to accommodate a separate home office. Just off the large living room is the windowed, open kitchen with a breakfast bar and dining area. The large primary bedroom offers additional tranquility and features an en suite bathroom with a step-in shower. The apartment boasts ample closet space, tall beamed ceilings, and wood parquet flooring, embodying the classic Manhattan aesthetic.

The Aristocrat is a well-maintained elevator building with a 24/7 doorman and a newly renovated lobby. Pieds-ร -terre are allowed, and subletting is permitted with Board approval. Additional amenities include a bike room, storage, laundry room, live-in superintendent, and secure garage parking.

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3 East 71st Street, Unit 9E

3 East 71st Street, Unit 9E

Lenox Hill

Asking $1,500,000

2 Bed  |  2 Bath | Co-op

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Lenox Hill luxury awaits in this beautifully renovated two-bedroom, two-bathroom residence featuring a working fireplace, generous storage and elegant finishes in a full-service prewar co-op just inches from Central Park.

Inside this completely turnkey home, tall ceilings trimmed with crown molding rise above designer wallcoverings, hardwood floors and luxe wall-to-wall carpet. A neutral color palette adds to the notably serene ambiance. An oversized foyer with a roomy coat closet opens to the expansive living room, where youโ€™ll find a generous footprint for seating and dining areas alongside the wood-burning fireplace. Double doors open to the separate windowed kitchen featuring rows of glass-front custom cabinetry, long countertops and stainless steel appliances, including a gas range, French door refrigerator, and dishwasher.

Head to the spacious primary suite to discover a king-size layout and enviable wardrobe storage, thanks to a custom walk-in closet and a wall of three more reach-in closets. A pocket door reveals the windowed en suite bathroom featuring a glass shower and large vanity surrounded by beautiful floor-to-ceiling marble. The second bedroom offers two closets and easy access to a full guest bathroom with a relaxing soaking tub. An in-unit washer-dryer and deeded storage unit add wonderful convenience to this lovely Lenox Hill haven.

Located within the Upper East Historic District, 3 East 71st Street is a handsome stone and pale brick apartment house built in 1944. Residents of the white-glove building enjoy 24-hour doorman service, a live-in resident manager, a gym, laundry, a bike rack, and storage. Pets, Diplomats, pieds-ร -terre, and 50% financing are allowed with board approval. A 4% flip tax is paid by the buyer. Sorry, no weekend showings.

Located less than 250 feet from Central Park, this unrivaled residence delivers Lenox Hill prestige and convenience with direct access to 842 acres of iconic outdoor space. Stroll the world-famous institutions along Museum Mile or browse Madison Avenue's luxe boutiques and cafรฉs, including Ralph Lauren, Lanvin, Apple, Ladurรฉe and Prada, all nearby. Transportation is effortless with 4/5/6, N/Q/R/W and F trains, excellent bus service and CitiBikes all nearby.

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The Monthly Update - January 2025

A Glance Back And A Look Ahead

Happy New Year!

2024 started off much like 2022 and 2023 did โ€” struggling with low transaction rates, mostly due to high mortgage interest rates. As we moved into spring, the weekly transactional rate never topped more than 240 units per week, when a typical spring market often reaches highs of 400 to 450 contract signings per week! However, last year's lower signed contract rates did remain steady throughout the year at about 200 contracts per week.

There was more trepidation than usual in our local markets leading up to the November elections. With a turbulent presidential election ahead, many anticipated a downturn in buyer activity. However, there was slight relief in August when interest rates briefly dropped to under 6%. The market then saw a steady increase in transactions through the end of the summer and deep into the fall market. As the presidential election came and went, interest rates hovered around 6% to 6.5%. At that time, many in the industry thought the real estate market would enter its typical fall slowdown into the holidays and the end of the year. However, transactional rates stayed strong compared to the past few seasons, and 2024's Q3 and Q4 saw a 30% to 35% increase in contract signings!

The luxury sector, the segment priced at $4 million and above, which many believe to be the bellwether for the rest of the market, recorded an 8.5% increase in listings going into contract compared to 2023. The upper echelon of the luxury market price at $10 million and above, often called the trophy listing sector, saw a 4% year-over-year increase in deals, with 278 contracts signed last year. As a matter of fact, 2024 ranked as the second-best year since 2006, when monitoring of the trophy listing segment began. Interestingly, the No. 1 year for trophy listings was 2021, the pandemic rebound year, when almost 400 trophy properties were listed and sold. Without question, the luxury market has been powered by huge gains in the stock market and the anticipation of a bump in bonuses this year. An interesting leading indicator of the luxury market can be found in the Federal Reserve data of 2020 when the total net worth of the top 1% in the U.S. was $30.3 trillion. By the end of Q2 of 2024, that number grew to $46.7 trillion, and the expectations for the elite 1% are even stronger for this year.

What can we expect in 2025? It's never an easy guess, but here it goes โ€ฆ Interest rates are not expected to go down next year, especially with the Fed indicating that prime rate cuts will be few and far between. However, with the expectation of the 1% getting wildly richer this year, mostly due to deregulation in the stock markets, there should be stronger activity over the next couple of years. Still, only time will tell how things play out in the Manhattan and Brooklyn 2025 sales markets.

For 2024, homes were still trading at around 2018 to 2019 price levels. There has been no real increase in overall property value since then. Of course, there are exceptions, and the luxury market did see a price increase of about 4% on average in 2024 compared to 2023. However, the asking price for standard New York City properties has remained flat. What we're looking for in 2025 is an increase in transaction rate, first and foremost. An increase in the volume of property going under contract will help the overall real estate market moving forward. Only then can we talk about how the increased volume might affect pricing.

Overall supply is another interesting facet to look at for the 2025 New York City real estate market. At the end of 2024, listing supply inventory was trending down, as it typically does towards the end of the year. But last year, particularly after August, there was less inventory than usual by about 500 to 700 units, depending on which month we look at. At the time of this article, there were 5,371 listings on the market. There's not going to be an increase in overall inventory until mid to late January. By the middle of the spring season, we should see inventory surpass 7,000 units. We have a long way to go before we reach that amount, but this is a good indicator of the health of the 2025 market to watch in Q1.

Other things to watch for in 2025 include the stock market, interest rates, overall listing supply and the rate at which buyers put property into contract. Those four leading indicators will determine the direction of the 2025 market, and we should see early in the year what direction the 2025 market will lead us. Other factors remain, of course, but I feel if the stock market is strong, interest rates continue to hover around 6% to 6.5%, and listing supply increases to a healthy amount, the Brooklyn and Manhattan markets will remain strong through the first half of 2025!


Local Happenings

NYC Restaurant Week

January 21 - February 9 2025

Savor the flavors of NYC during Restaurant Week! Discover exclusive lunch and dinner deals at hundreds of top restaurants across all five boroughs. Indulge in curated 2-course lunches, 3-course dinners, or both, and enjoy incredible cuisine at unbeatable prices.

Click HERE for more details!

Compass to Acquire Christie's International Real Estate

The $444 million deal brings the 8th-largest brokerage firm into the Compass fold and represents the brokerage giantโ€™s first major move into the global market.

Courtesy of Real Estate News


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NYC Welcomed 65 Million Tourists in 2024, Second-Highest in History

New York City welcomed nearly 65 million visitors this year, the second highest total in its history. Mayor Eric Adams and NYC Tourism + Conventions President and CEO Julie Coker on Friday announced a new end-of-year tourism forecast, revealing a 3.5 percent increase in visitors from 2023 and projecting a return to pre-pandemic levels in 2025. NYC remains the most-visited large city in the United States, with the forecast highlighting the cityโ€™s near-complete economic and tourism recovery following the pandemic.

In 2024, tourism contributed $79 billion to the city and state economies, including over $51 billion in direct traveler spending. This economic impact spanned a wide range of sectors, including accommodations, dining, entertainment, sports, live theater, arts and cultural attractions, retail, and transportation.

This economic activity also supported over 388,000 leisure and hospitality jobs, representing roughly nine percent of the cityโ€™s workforce, and benefitted thousands of small and minority-owned businesses in all five boroughs. Visitor spending also generated over $6.8 billion in tax revenue, saving NYC households roughly $2,000 each in 2024.

NYC continues to be the largest point of entry to the country, with more flights arriving at city airports than any other destination in the United States. The cityโ€™s subway system has also rebounded from its post-pandemic slump, reaching one billion trips before the end of the year.

October marked the busiest month for NYC transit since the pandemic, with nearly 114 million subway rides and over 40 million bus ridesโ€”10 million more subway rides and 3 million more bus rides than the previous year, respectively.

โ€œWith nearly 65 million visitors this year โ€” the second highest figure in our cityโ€™s historyโ€”NYC has once again solidified its position as the premier destination in the nation and one of the top travel spots in the world,โ€ Adams said. โ€œNYC remains a dynamic hub for tourism, drawing tens of millions of visitors from around the globe and bringing in $79 billion in economic impact.โ€

Adams continued, โ€œWhether visiting for business or pleasure, the five boroughs has everything you need, from conference halls to theatres to restaurants and hotels โ€” New York City remains the heartbeat of innovation, culture, and opportunity. And weโ€™re looking forward to beating our own tourism record next year with a full recovery.โ€ 


NYC welcomes 65 million tourists in 2024, second-highest in city history

By Aaron Ginsburg

December 23, 2024

Cover image courtesy of Daniel Gillaspia on Flickr

Did you know โ€˜The Night Before Christmasโ€™ was written in New Yorkโ€™s Chelsea?

This may be hard to imagine, but one of the holidayโ€™s most iconic stories was written in none other than Manhattanโ€™s Chelsea. Ephemeral NY recounts the origins of Clement Clarke Mooreโ€™s quintessential Christmas tale, โ€œThe Night Before Christmas,โ€ and points to early 19th century life in New York as the inspiration for the classic. As the story goes, the year was 1822, and Moore was said to have come up with the poem on a snowy day while riding around Chelsea in a sleigh, on his way to pick up a turkey from the market.

Mooreโ€™s Chelsea estate via Ephemeral NY (L); Book cover (R)

Moore lived with his family on a massive inherited estate at 23rd Street and 9th Avenueโ€”then considered the cityโ€™s backwoods. As gleaned from the NY Times, Ephemeral writes that the author, who at the time made a living as a theology professor, wrote the story โ€œsimply as a Christmas present for his two daughters, making St. Nicholas the hero at the suggestion of a portly, rubicund Dutchman living in the neighborhood.โ€

Interestingly, the Moore was said to have been a slave owner, and the sleigh ride that inspired the work was in fact driven by one of his slaves. The figure of Santa Clausโ€”which has become the widly popularized version we know todayโ€”was modeled after the familyโ€™s jovial Dutch handyman. However, the idea of putting jolly St. Nick into flight puffing a pipe was drawn from Washington Irvingโ€™s image of the icon. But the red suit? You can thank Coca Cola for that.

Mooreโ€™s story was first anonymously published in a Troy, NY newspaper in 1823. It wasnโ€™t until the 1830s that he was revealed as the writer.

[Via Ephemeral NY]


Did you know โ€˜The Night Before Christmasโ€™ was written in New Yorkโ€™s Chelsea?

By Diane Pham

December 23, 2016

The Monthly Update - December 2024

Post-Election โ€” NYC Real Estate Update


Leading up to the election, the New York City real estate market saw a nice little uptick in buyer contract signings. That was mostly because interest rates dropped to less than 6% (even for just a few weeks) in late August and early September. Even with the election at our doorstep, the Fall 2024 market enjoyed about a 25% increase in contract-signed activity compared to the year before. However, there was still a cloud over the market as everyone waited to see what the post-election period in New York City real estate would look like, and here it is! 

Itโ€™s still kind of busy! As of the time of this newsletter, the weekly contract signed rate ticked up 2%, and buyer activity remains robust. There were two leading indicators to consider prior to the election: One was interest rates, and the other was the election itself. Now that one of those two things is behind us, buyers seem to have at least some sort of handle on whatโ€™s going to happen over the next four years with this new administration. Many expect deregulation in the financial markets and a soaring stock market. Many predictions regarding interest rates indicate that they should hover around the 6% mark, drifting slightly up or down depending on other economic conditions. However, with one leading indicator/obstruction out of the way, purchasers seem to have a clearer view of whatโ€™s to come, giving them confidence in purchasing real estate once again. How that pans out in the spring remains to be seen. Meanwhile, the in-contract inventory is staying strong as of this Thanksgiving week. Contracts signed marked their third-highest week of the entire year, which nods to buyer sentiment in todayโ€™s market. 

While buyers slowly gained confidence, they didnโ€™t have many units to choose from. The fall market never met its historical norm for inventory. Currently, overall city inventory levels remain about 500 to 700 units short compared to a typical fall market. As a result, the inventory supply this winter could see some record lows, and it remains to be seen how supply will bounce back for this spring. Inventory is an important factor in the health of the real estate market, as buyers need choices. The more options they have, the more they come out into the market to purchase. Consequently, many industry professionals are keeping their eye on the overall inventory for this spring, hoping for a strong bounce back. 

Another interesting segment for consideration in the 2025 market is the luxury sector. Many believe the luxury market of homes priced at $4 million and above is expected to be extremely strong next year. The week after the election saw Manhattanโ€™s second-highest luxury contract-signed volume in the boroughโ€™s recorded history. The weekly volume for luxury real estate reached $364,685,000, just below the week of December 20-26, 2021, when the total was $368,532,000 -- the all-time high. So, many are keeping their eyes on the luxury sector and how this incoming administration could affect the ultra-rich. 

Overall, there seems to be some sort of light at the end of the tunnel after a two-year slowdown in the Manhattan and Brooklyn real estate markets, which began when interest rates began climbing in the summer of 2022.


Local Happenings

Rockefeller Center Christmas Tree Lighting

DEC 4 - MID JAN 2025

This year's Rockefeller Center Christmas Tree will come from Massachusetts, the first tree to hail from the state since 1959! The 2024 Rockefeller Tree will be lit daily from 5am to midnight. On Christmas Eve the tree will be lit for 24 hours and on New Year's Eve it will be lit from 5am-9pm. The Tree will be on view through mid-January.

Click HERE to learn more!

Celebrate Hanukkah with Jazzukkah at Eldridge Street

DEC 25

Enjoy a festive, jazz-infused spin on Chanukah classics with The Jazzukkah Project, followed by a special candle-lighting ceremony featuring historic menorahs. Perfect for the whole family, this musical holiday celebration on Christmas Day marks the first night of Chanukah.

Click HERE to learn more!


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