The StreetEasy Monthly Cheat Sheet is a recurring feature that looks at the New York City for-sale market over the last four weeks, highlighting a combination of market data, StreetEasy user behavior, and topical trends. This is the report for August 2018.
$24.6M Penthouse in Tribeca
Most expensive: Some celebrities manage to keep a low profile. Meryl Streep is not one of those celebrities. In August, the 18-time Oscar-nominated actress listed her 4-bedroom penthouse at 92 Laight St. in Tribeca for $24.6 million. Not only did the stunning loft immediately catch our attention and induce our envy, but it also became the most expensive sale listing to hit the market last month.
We suggest clicking through the image gallery above slowly. There’s a lot to savor. The apartment has great bones, extraordinary views and an unfussy, classic feminine style — sort of like Streep herself.
$89K 1-Bedroom in Woodlawn
Least expensive: The least expensive property to come on the market in August is a co-op at 4295 Webster Ave. #2K in the Woodlawn neighborhood of the Bronx listed for $89,000. Although the property is listed as a 1-bedroom, a closer look at the floor plan reveals that this co-op is more like a studio. That said, it offers a lot more bang for your buck than the typical Manhattan studio.
The unit offers a separate dining area, a cute kitchen, plenty of closet space and decent natural light. The price is pretty impressive given the features of the apartment, but keep in mind, this place is far from public transportation (a 10-minute walk to the nearest Metro North — yes, Metro North) and the interiors could certainly use some updating.
$899K 1-Bedroom Duplex in Flatiron
Most popular: The most popular listing last month was a $899,000 1-bedroom duplex at 69 Fifth Ave. #6C/7C in Flatiron. While the price is by no means a steal, this condop is a gorgeous, turn-key home. The layout is flexible, the location is central — it’s just north of 14th Street on Fifth Avenue’s Gold Coast — and both the unit and the building offer plenty of amenities.
The apartment comes with two levels of living space totaling 900 square feet, a laundry room with washer and dryer, a full-time doorman, and access to a communal roof deck. The flexible pied-à-terre policy might just be the cherry on top — especially for new empty-nesters. With the fall semester just starting and NYU just down the block, it’s no surprise this apartment racked up more than 400 saves in August.
Psst! This Hamilton Heights 2BR Is Now $450K
Best price cut: There are two main reasons listings typically get price cuts. Either they’ve been sitting on the market for months, or their initial asking price was too aggressive. This classic 2-bedroom co-op at 302 Convent Ave. #65 in Hamilton Heights was listed last spring for $595,000. In August, however, it received a 25 percent cut, with the price falling by $145,000 to an even-more-palatable $450,000.
Good price aside, the property has real appeal. The unit is located on the top floor of a prewar elevator building and offers nine windows and a large living area. Exposed brick and French doors add character, while a kitchen updated with simple finishes keeps things practical. The listing is an HDCF income-restricted unit, which could bar some buyers from applying, The property, however, is now in contract, so hopefully a fortunate buyer has submitted an acceptable application.
Value of all sales: For August 2018, the total value of all sales listings added up to $39,225,636,994. This marks a decrease from the total value of all sales for July, which was $41,756,691,675. This also marks the third straight month of declining value of total sales this year. September typically sees increased appetite among home shoppers, so we expect to see a higher value next month. Check back with us in October for the next installment of the Cheat Sheet.