Monthly Take - February 2025

KANBAR KOPEL FEBRUARY 2025 MONTHLY NEWSLETTER

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FEBRUARY 2025

MANHATTAN MONTHLY TAKE

The year is off to a great start!

2024 ended well, and January sales were strong. Both reliable and optimistic indicators of the Spring market! 


We see asking prices have reached a level where buyers are willing to bid, and in some cases, well-priced properties are attracting multiple offers. Even those listings that were stagnant in late 2024 are now seeing renewed interest. Perhaps this is due to a lack of inventory, and buyers are finally ready to re-enter the market. 


Where are the best buying opportunities?


1. Apartments in need of renovation in nearly every neighborhood of NYC. An apartment in need of renovation must have a price that reflects its condition.

 

2. Co-ops! Many are selling at steep discounts—some for valid reasons (i.e., need of renovation), but others simply due to outdated rules or policies. Those that are flexible with financing and other board requirements and who have invested in amenities such as gyms, storage, roof decks, etc. are faring better. 


While interest rates are higher, it is a sign of a strong economy, and we all know the alternative is not ideal. Rational buyers have come to accept the current rates as the new normal. 


We are looking forward to a busy Spring market! 

Want to learn more about the market?

Reach out to chat!

Read on and get our FEBRUARY Take:

✦ New Development: 16 Fifth Avenue

✦ Food News: Hot New UES Restaurants

✦ Celeb Real Estate Buzz

✦ NYC Home & Lifestyle Trends: Non-toxic items for the home


Let's talk soon!

Stacey and Julie

New Development

Rendering credit: Image courtesy of the NYC Landmarks Preservation Commission.

16 Fifth Avenue

(btwn 8th and 9th Street)

✦ Architects: Robert A.M. Stern and Hill West Architects

✦ Developer: Madison Realty Capital

✦ Ground up new construction

✦ 19 story, 14 unit luxury condominium

✦ Estimated date of completion end of 2025 or early 2026



Exciting NEW UES Restaurants

✦ Lucia Pizza: The family-owned Brooklyn-based Italian eatery is now open on the UES and we couldn't be more excited! The Poblano and the Vodka are our top pics. 151 Third Avenue (btwn East 88th and 89th Street)


✦ Cafe Commerce: A revival of Harold Moore's former West Village hotspot, Commerce, a 55-seat bistro, is a welcome addition to the neighborhood. Moore's classics such as the sweet potato tortelloni with hazelnuts, his 20 herb salad, and of course, his famous coconut cake are back on the menu! 964 Lexington Avenue (btwn 70th and 71st Street)


✦ Chez Fifi: This cozy French bistro is the latest venture from brothers and Michelin star winners, Joshua and David Foulquier who are also behind Sushi Noz. Situated in a historic townhouse, menu highlights include the raw tuna with shallots and caviar and the fromage blanc ice cream. The 3,500-bottle wine collection is also getting a lot of buzz! 140 East 74th Street (btwn Park and Lexington Avenue)

Celeb Real Estate Rundown

✦ Bob Dylan SELLS 242 East 49th Street for $7.25 MM: The historic residence features 5 BR, 5.5 BA, a private walled garden, terraces, and an elevator. The property has a rich history of celebrity occupants, including playwright Garson Kanin, actress Ruth Gordon, and Mary Tyler Moore.


✦ Grace Hightower, ex-wife of Robert De Niro, IN CONTRACT at 88 Central Park West #4N/5W LAST ASK $20MM: The 5,800-square-foot duplex co-op which overlooks Central Park, features almost 11 ft. ceilings, bay windows, and incredible light.


✦ Francisco Lindor, the New York Mets shortstop, IN CONTRACT at 200 East 75th Street PH LAST ASK $20MM: The 5,000-square-foot 5BR, 5.5BA, penthouse is located in the yet-to-be-completed boutique condominium by EJS Group. The home features skyline views, carefully crafted crown moldings, a chef's kitchen, and extensive luxurious amenities.

Non-toxic products

for the home

✦ L'AVANT Collective: Woman-owned brand, plant-based, eco-friendly, and non-toxic. Each product combines high performance with modern aesthetics and elegant design. (prices: $10 to $200)


✦ Homecourt: Founded by Courtney Cox, her "beauty products for the home". Every item has been developed by chemists, is non-toxic, sustainable, functional, and beautiful. (prices: $15-$350)


✦ Branch Basics: Household cleaners that prioritize health and environmental responsibility. Plant-based, non-toxic, multi-purpose

cleaning concentrates that come in refillable bottles. (prices: $10-$75)

Which Kanbar Kopel Team

Listing is your Favorite?

Coming Soon

315 Riverside Drive, Apt. 11B

2 BD | 2 BA

Featured In Contract

211 West 84th Street, Apt. 6E

3 BD | 2 BA | $3,675,000 | In Contract

2 BD | 1.5 BA | $1,295,000 | In Contract

Featured Transactions

4 East 77th Street

5 Stories | $16,000,000 | Sold

4 BD | 5 BA | $5,395,000 | Sold

1100 Park Avenue, Apt. 9C

4 BD | 4 BA | $4,850,000 | Sold

360 East 89th Street, Apt. 31B

3 BD | 4 BA | $4,375,000 | Sold

430 East 58th Street, Apt. 28A

3 BD | 4 BA | $4,300,000 | Sold

433 East 74th Street, Apt. 3AB/4B

6 BD | 6 BA | Sold

50 Bridge Park Drive, Apt. 8A

4 BD | 4 BA | $4,250,000 | Sold

4 BD | 4 BA | $3,712,500 | Sold

3 BD | 3 BA | $2,500,000 | Sold

2 BD | 2 BA | $2,475,000 | Sold

2 BD | 2 BA | $2,245,000 | Sold

2 BD | 2 BA | $2,060,000 | Sold

3 BD | 2 BA | $1,400,000 | Sold

515 East 79th Street, Apt. 29B

2 BD | 3 BA | $1,325,000 | Sold

315 West 99th Street, Apt. 1B

3 BD | 2 BA | $1,200,000 | Sold

Want to see more listings?

View them here!
Office: 646-982-0353
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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