The StreetEasy Monthly Cheat Sheet 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 February 2019.

Psst! This Murray Hill 3BR Got a 20 Percent Price Cut

Biggest price cut: This 3-bedroom co-op at 138 E. 36th St. tells the story of the Manhattan market right now. The owners purchased this classic six unit in 2013 for $850,000, and conducted an extensive renovation. They listed it for sale in September 2017 for a hefty $2.2 million, and the unit lingered on the market for nine months without a price cut. It left the market unsold in June 2018, then returned in January 2019 for just under under $2 million. A month later, however, the apartment got a $390,000 price cut — one of the largest in February — to its current asking price of $1,595,000.

This classic six is, well, a classic Manhattan apartment, but in the current market, it’s struggling to find a buyer.

This exemplifies the larger trends we are seeing across the market. Increasingly, Manhattan apartments, especially Midtown co-ops, are languishing on the market as sellers hold to overly optimistic price expectations. Many delist, many go unsold, and many are sold at a loss. Yet regardless of market trends, this unit appears spacious and bright, and certainly has a convenient location. The $2,450 monthly maintenance helps cover a full-time doorman, live-in super, package room, bike room, laundry room, and storage locker.

$595K 1BR in West Village

Most popular: The most popular listing last month was a $595,000 1-bedroom co-op in West Village. The asking price sets this unit apart from other offerings in the neighborhood, where the median price for a 1-bedroom is $1.2 million. Located on Bank Street, one of the West Village’s most picturesque blocks, and with a gorgeous marble mantle, the place offers a whole lot of charm in addition to its relatively modest price tag.

This Bank Street 1-bedroom is asking $1 million less than the typical 1-bedroom in the West Village.

$53M Triplex in the West Village

Most expensive: The most expensive listing to hit the market in January was a 6-bedroom triplex at 165 Charles St. in the West Village currently owned by Martha Stewart’s daughter, Alexis. Located atop a 16-story condo designed by Richard Meier in 2004, the unit has never been on the market before. With 9,500 square feet of interior space and 600 square feet of private outdoor space, it’s one of the largest residential units on the market downtown. Believe it or not, Alexis Stewart is reportedly selling it in search of even more space.

The pooch doesn’t come with the property.

$59,000 Studio in Fordham

Least expensive: The least expensive property to come on the market in January was a studio in the Fordham section of the Bronx listed for $59,000. Unlike many of the most affordable apartments we highlight in the cheat sheet, this one is not income-restricted. The listing description does note, however, that all-cash buyers are preferred.

The property has no income restrictions, but is asking for an all-cash buyer.

The apartment is located in a 1966 elevator building with a garage and laundry room. The unit itself is basic, but has two closets and a separate galley kitchen.

$38.414 Billion

Value of all sales: For January 2019, the total value of all sales listings added up to $38,413,759,614. This marks a substantial decrease from January, when the value of all sales totaled $39,603,745,272, likely due to fewer days in February. It does, however, mark an increase from the total value for February 2018, which was $37,472,452,701. Continuing a trend we noted last month, this roughly $1 billion annual gain is further testament to the slowing sales market and the accumulation of for-sale inventory.

—
Hey, why not like StreetEasy on Facebook and follow @streeteasy on Instagram?