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 September 2017.
Value of all sales: The total value of all sales listings summed up to $40.038 billion in September. This is substantially up from the $37.8 billion sum of all total sales listings in August. In keeping with seasonal trends, the sales market showed strong growth in September after hitting a low point in August.
Most expensive listing: Although New York City has seen some impressive prices in starchitect-designed, glassy new developments along Billionaire’s Row, pedigree stands the test of time in this town. In September, the most expensive listing to hit the market was a $76 million duplex at 834 Fifth Ave. in Lenox Hill.
After all, 834 Fifth Ave. has been a stomping ground for storied New York City socialites both past and present. The roster of previous residents runs the gamut from the Rockefellers and the Johnsons to Rupert Murdoch and Robert Bass. Ever since the building was erected in 1932 by Rosario Candela, the architect par excellence of prewar opulence, it’s maintained a high-class reputation and even higher prices.
In a building replete with bonkers-expensive listings, this $76 million duplex is perhaps the most bonkers of all. The property spans two floors, 22 rooms, seven bedrooms and, give or take, 12,000 square feet. The interiors, designed by Henri Samuel, are a marriage of Louis XVI and Serena van der Woodsen, and come together to yield a palace overlooking Central Park that’s only fit for the most regal of New York City royalty. Perks include 100 feet of frontage on Central Park, a marble staircase, five fireplaces, a smoking room, a wine cellar and ample room both for the heirs to your fortune and your wait staff.
Least expensive listing: September’s least expensive listing to hit the market is located at 6485 Broadway. While this midsize walk-up wasn’t designed by the likes of Rosario Candela and doesn’t boast an illustrious list of past residents, it does overlook one of the city’s best parks — Van Cortlandt. The unit itself is sparse and looks like it could use some love. Despite the undeniable roughness around the edges, the apartment offers a large, 1-bedroom layout and 800 square feet. The listing description puts it bluntly: “The apartment is in need of renovation.” But at $99,000 ($124 per square foot!) and with no financing limitations, you could go wild with that reno.
Most popular listing: Although it was listed three weeks into the month, this charming 1-bedroom co-op at 111 E. 10th St. was the sales listing with the most number of saves by StreetEasy users in September — more than 450 in just a week’s time!
Take one look at this place, however, and you’ll see why it was a runaway favorite. Located on the top floor of a quintessential Greenwich Village townhouse, the building nails the whole quintessential historic character thing. It’s got exposed brick and beams, wide plank floors, a big old marble mantle, and views overlooking a shady garden — what more could you want?
As if we need any other reason to love the place, the outdoor space is unreal. Like, the stuff of NYC in the movies. And it’s all yours! Private. No sharing necessary.
Hot tip for September: If you are looking to land a place at a discount, your best bet is Carroll Gardens. Over the past month, Carroll Gardens saw more than 30 percent of its inventory get a price cut, which bodes well for buyers who are ready to negotiate.
And not to worry, it’s not all dogs that are getting price reductions, either. Much of the inventory that’s seen discounts offers good value.
Take, for example, this 3-bedroom duplex at 316 Carroll St., listed in August but reduced by $51,000 to $1.599 million just three weeks later. The apartment is in a new boutique condo currently offering three duplexes. It seems like the inventory isn’t selling as quickly as expected, because two other units in the building have also received discounts.
Another duplex at in Carroll Gardens received a substantial price cut in September — this one located in a converted milk factory at 395 Smith St. Originally listed for $875,000 in July, the price got dropped to $799,000 in September after two months on the market. Although the layout is not for everyone — floor-to-ceiling street-facing windows on the ground level might be a turnoff for the introverts among us —the place has some undeniably cool design features, including exposed beams, a glass mezzanine overlooking the lower floor, and a glass-sided stair case.
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