Monthly Take - January 2020

We hope you enjoyed the holiday season! A new decade is upon us and we are excited to be back in the swing of things, looking at amazing new opportunities for our clients.  2019 ended with an uptick in activity in November and December relative to the rest of the year. This may be a sign of improving markets on the horizon, but for now, buyers still have the upper hand with significant price drops and increased days on market year over year.   As always, we will continue to monitor the market closely and keep you apprised. Read on to learn more about: New Dev Spotlight:  611 West 56th Street Your Celebrity Real Estate Rundown Where to Eat this Month Trending:  80's Ensembles Update on the Luxury Market Our Recent Sales Enjoy our Monthly Take! Stacey and Julie Social Links are not complete What is our Favorite New Development? 611 West 56th Street It's not every day we see a new development with so much vision, passion, and architectural modernism.  Alvaro Siza brought all of these elements to his new residential development at 611 West 56th Street.  His goal was to focus on quality over quantity and refinement over extravagance. The 37-story, limestone building will feature one-to-four bedroom apartments.  These spaces will include a full-floor penthouse, duplex "maisonettes" and a maximum of two apartments per floor.  State-of-the-art amenities will include an outdoor garden mezzanine and a yoga and boxing studio.  611 West 56th Street will be available for occupancy in the fourth quarter of 2020 and exclusively sold and marketed through Compass. Contact us to learn more or schedule a tour! Who is Buying and Selling in NYC? Your Celebrity Real Estate Rundown Aerin Lauder, heiress to Estee Lauder fortune and founder of lifestyle brand, Aeirn, purchased a stunning co-op at 960 Fifth Avenue for $47 million.  The property hit the market last May for the first time in 70 years!  Great timing for Aerin! Bette Midler is selling her 1125 Fifth Avenue spread that she and her family have called home for more than 20 years.  The 7,000 square foot, triplex penthouse, with an additional 3,000 square feet of outdoor space, is listed for $50 million.  That puts it on the list of the most expensive homes for sale in NYC right now! Where to Eat this Month Portale After more than 30 years at the helm of Gotham Bar and Grill, legendary chef Alfred Portale now has his own restaurant in Chelsea where he is putting a fresh spin on Italian cuisine. Bold flavors are reinventing old favorites. They even mill the grains for their pasta in house! Absolutely delicious and a fun, lively atmosphere. Hutong Located in the former LeCirque space, Hutong offers an authentic, upscale take on delicious northern Chinese cuisine. The food is flawlessly turned out, a visual masterpiece. The space is so sleek and modern that you won't recognize it from it's former occupant!  Wolf According to Nordstrom's VP of restaurant operations, 25% of the store's overall transactions will come from food and beverage.  It's no wonder Nordstrom has brought in award winning chef, Ethan Stowell, to create Wolf.  Everything is delicious at this Italian eatery but our favorites are definitely the salmon crudo and the Bucatini! Trending: 80's Ensembles Sketchy perms and plastic earrings aside, the 2020s will look to the '80s for its use of maximalism, puff sleeves, sequins, and more - all with a modern twist.  According to Etsy, there has been significant increases in searches for puff sleeves, shoulder pads, and chain belts in the last three months (compared to the same time last year).  We wonder how this might translate to home decor and hairstyles - dust off your crimping irons! How is the Luxury Market? Residential Properties $4M and Above Please feel free to reach out for a more in-depth look at neighborhood-specific market trends and data. Which Kanbar Kopel Team Listing is your Favorite? 969 Park Avenue, Unit 10F 3 Bed | 3 Bath | $2,400,000 | For Sale 16 East 96th Street, Unit 4B 4 Bed | 3.5 Bath | $5,695,000 | For Sale 56 Pine Street, Unit 14E 1 Bed | 1 Bath | $649,000 | For Sale Coming Soon 325 East 79th Street, Unit 1D 2 Bed | 1 Bath | Coming Soon In Contract 444 East 75th Street, Unit 8B 3 Bed | 3 Bath | $1,175,000 | Purchase Price Just Rented 238 East 74th Street, Unit 5 2 Bed | 1 Bath | $5,250 | Rented 2109 Broadway, Unit 4109 1 Bed | 1 Bath | $5,800 | Rented 920 Park Avenue, Unit PHB 2 Bed | 2 Bath | $10,000 | Rented 16 West 19th Street, Unit 4B 1 Bed | 1 Bath | $5,000 | Rented Just Sold 308 East 79th Street, Unit 5E 1 Bed | 1 Bath | $750,000 | Sold 103 East 84th Street, Unit 2A 3 Bed | 2.5 Bath | $2,250,000 | Sold 16 West 19th Street, Unit 4B 1 Bed | 1 Bath | $1,090,000 | Sold 2 5th Avenue, Unit 4O 1 Bed | 1 Bath | $1,500,000 | Sold 254 Park Avenue South, Unit 7HJ 1 Bed | 2 Bath | $1,482,500 | Sold 77 Perry Street, Unit 1A Studio | 1 Bath | $490,000 | Sold View All Team Listings Kanbar Kopel Team Stacey: 917.579.2210 Julie: 973.454.1956 kanbarkopel@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information 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. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Compass makes no representation or guarantee that Coming Soons are available in your region, or that its use will result in the benefits described herein.