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 March 2018.
Most expensive: The most expensive listing to hit the market in March is not actually a palace, but it comes close. Spanning 13,000 square feet across six floors — not including the finished basement and wine cellar — this townhouse at 22 E. 67th St. oozes opulence. Oversized chandeliers, marble surfaces, gilded fixtures and crushed velvet wallpaper hammer home the extravagance. Add to the mix ten wood burning fireplaces, two kitchens, enumerable powder rooms, and an elevator, and you get the picture. This place is really, really fancy.
Least expensive: The least expensive property to come on the market in March is a sunny 1-bedroom at 1100 Elder Ave. in the Soundview section of the Bronx. Listed for $51,000 and measuring 559 square feet, the co-op has an impressively low price per square foot of $91. That’s unheard of by New York City standards, and all the more crazy when you compare it to the most expensive property above, which is asking nearly $3,000 per square foot.
The Soundview apartment is fresh off a recent renovation, and offers a bright and sunny feel, with polished hardwood floors, white kitchen appliances, and newly painted walls. Plenty of closet space and easy access to the 6 train up the appeal. The building is a HDFC property, though, so income restrictions apply.
Most popular: The most popular listing to hit the market last month was a $849,000 2-bedroom duplex at 326 State St. in Boerum Hill. The listing hit the market in early March, and over the past four weeks has racked up nearly 600 saves. The property is turn-key and offers some great amenities — no surprise it’s a runaway success on StreetEasy.
The two-level apartment has a loft-like feel, with double-height ceilings and floor-to-ceiling windows to match. The downstairs offers an open living area and master bedroom, while the upstairs has a smaller space for a nursery or office and a laundry room. There’s also a private outdoor space on the roof, and the building offers great subway access.
Biggest price cut: This four-story, multifamily townhouse at 58 E. 120th St. in South Harlem was listed for $4.2 million in February. Just over a week after hitting the market, the price was readjusted to $3.7 million. Then, in March, another $1 million was cut from the price — a 27 percent discount. The home is now asking $2,700,000, and seems priced to sell. Let’s check it out.
The property is set up as a three-family rental, with a owner’s triplex and two additional rental units. This setup lends itself to investors and buyers willing to moonlight as a landlord. If you like, though, you could configure the property as a single-family unit.
Regardless how you chose to slice and dice it, the listing offers a pretty good deal — it’s one of the few townhouses in Manhattan listed for below $3 million. The interiors have been recently renovated, and the monthly taxes are insanely low due to an existing abatement.
Value of all sales: For March 2018, the total value of all sales listings added up to $40,240,645,854. This is a noticeable increase over the total value of all sales for February, which was $37,472,452,701. The steady increase in price continues the growth recorded since the start of the year — a strong indication that the market will take off as we come into the spring home shopping season.
—
Hey, why not like StreetEasy on Facebook and follow @streeteasy on Instagram?