TOWN Data | Contract Signed Report 7/25

An authoritative source on Manhattan’s Luxury Market, TOWN Residential is pleased to share the Contract Signed Activity Report, an up-to-the-minute report of the last week’s activity broken down by neighborhood and price point. 

During Week 30, July 17th through July 23rd, 198 contracts – comprised of 104 co-ops, 84 condos, 7 condops, and 3 townhouses – were signed in Manhattan. 

Of the units in contract, 47 were priced from $1,000,000-$2,000,000 and 36 were priced from $2,000,000-$5,000,000 with an average days on market of 125 and 165 respectively. 

Please click below for a neighborhood by neighborhood analysis. 

TOWN Data | Building Amenities Report 7/24

New York City’s top buildings offer a range of amenities so extensive that residents might never have to leave home. Seasoned Representatives and savvy buyers know the importance of staying up-to-date on the latest amenities and top-notch services that buildings offer, from rooftop lounges to gyms or five star services, children’s playrooms, and more. With this in mind, TOWN is proud to provide you with the Building Amenities Report, the latest amalgamation of data intended to bolster your knowledge of the city’s greatest amenities as they correlate to recent sale prices.

The current average price of a Manhattan condo apartment is $3,097,032.

In buildings with these amenities, you can expect to pay:

Philanthropy News | Giving Back This August

When the urge to give back calls, we have your answer. Whether you’re staying local in the city this summer or touching down on the East End, opportunities to give back to worthy charities abound. We’ve gathered some of this month’s standouts, from paddle boarding outings and inspiring runs to educational conversations and silent auctions. Check out the list below!

1. VR for the Real World: New Tools to Make the World Better

August 3rd, 9:00am – 11:00am
Philanthropy New York, 1500 Broadway, 7th floor
Tickets for non-members: $150

Image Courtesy Green Buzz Agency

With every new technology comes the opportunity for social change, and virtual reality is no different. Developers of the new platform have found themselves at the intersection of empathy and advocacy, promoting experiences that range from immersive storytelling and motivational exercises to heighten social awareness. Join the industry’s leading experts for a conversation about where the technology is heading next.

2. The Hamptons Paddle & Party for Pink

August 5th
Paddle Board Race: 8:00am, Sunset Party: 7:00pm

Havens Beach, Sag Harbor
Registration: $175

Image Courtesy Hamptons Paddle for Pink

Benefitting the Breast Cancer Research Fund, this event has not only been one of the Hampton’s most talked about summer soirées since 2012, but also one of its most philanthropic. Paddle for Pink was founded by Maria Blum, a breast cancer survivor who took up paddle boarding shortly after being diagnosed with breast cancer, finding it a positive outlet during her treatment and subsequent recovery. Last year’s event notably raised over $1.9 million. Join the effort to give the funds raised this year an even further reach.

3. The Sixth Annual Hamptons Cup

August 6th
Equuleus Polo Club, Watermill

Image Courtesy Haute Living

The Sixth Annual Hamptons Cup will benefit Robin Hood, New York’s largest organization fighting poverty in the city. Since 1988, the charity has focused on finding, funding and creating programs and schools to generate positivity in some of New York City’s poorest neighborhoods. This year’s event includes a late afternoon polo match featuring the world’s top-rated players, as well as a follow-up dinner. Register and join to help those involved raise even more funds than last year’s $780,000.

4. The Brooklyn Mile

August 20th
Start: Williamsburg Bridge

Registration: $40

Image Courtesy Girls on the Run NYC

For a chance to run the length of Kent Avenue through the heart of Williamsburg, register for The Brooklyn Mile. The race will benefit Girls on the Run NYC, a charity seeking to inspire girls to be healthy and confident using experience-based curriculum and running. The Mile caters to the most competitive runner as well as the most inexperienced; so come one and all for a morning of fun, running and (hopefully) sun!

5. Night of Global Impact

August 30th, 7:00 – 9:00pm
Midtown Loft & Terrace, 267 Fifth Avenue

Image Courtesy EventBrite

The Liberty Foundation invites your presence at their Night of Global Impact, dedicated to the fight against global injustice, child poverty and marginalized women. The night will include dinner and drinks, a silent auction and musical performances. All money raised will benefit the Liberty Foundation’s targeted efforts to assist impoverished areas in Cambodia, India, Pakistan, Honduras and Swaziland, Africa. Don your best and give back amidst stunning views of the Manhattan skyline.


Architecture News | The Latest and Greatest Exhibits

For many, August is a time to fit in a vacation far, far away from New York City’s crowded streets, but we’re in the mood to celebrate them. Below, we’ve compiled a list of the top 5 architectural exhibits and tours you would be remiss to skip this month, from prominent architects to celebrated street art and more. Peruse longtime museum displays at your leisure, put on your walking shoes and hit the pavement, or find the time to do it all!

1. Panorama of the City of New York

Long-term view
Queens Museum

Image Courtesy Queens Museum

This exhibit is certainly not the “latest” exhibit, but nonetheless is widely known as the crowning jewel of the Queens Museum’s unique collection of architectural displays. The Panorama was built in 1964 for the World’s Fair by a team of over 100 people over the course of 3 years. The display’s incredible beauty and longevity speak for themselves, so be sure to put this on your August Bucket List.

2. Frank Lloyd Wright at 150: Unpacking the Archive

Through October 1st
Museum of Modern Art

Image Courtesy MoMA

Come celebrate one of the most significant architects of the 20th century, Frank Lloyd Wright! The major exhibit includes close to 450 of his acclaimed works made between the 1890s and the 1950s, spanning from drawings, models, building fragments, films, television broadcasts, print media, furniture, tableware, textiles, paintings, photographs, scrapbooks and more. Even those most well-versed in the architect’s life and work will have much to learn at this jam-packed exhibit.

3. Public Art of Lower Manhattan: An Outdoor Gallery

August 5th, 11:00 am – 1:00 pm
Tickets: $30

Image Courtesy Architecture Daily

Courtesy of The Municipal Art Society of New York, this walking tour will uncover museum-worthy art hidden amidst the busy traction of the Lower East Side’s streets. Tour Guide Patrick Waldo will take participants from Civic Fame high on top of the Municipal Building to a sculpture partially submerged in the East River, examining work from artists like Daniel Chester French, Isamu Noguchi, Jean DuBuffet, Louise Nevelson and more.

4. Sunset Park in Brooklyn with Joe Svehlak 

August 12th, 10:30am – 12:30pm
Sunset Park
Tickets: $30

Image Courtesy NYC Parks

Join tour guide and preservationist Joe Svehlak, longtime resident of Sunset Park who is well versed in the area’s rich history and present-day diversity. The Sunset Park Landmarks Committee is now in the midst of seeking landmark designation for its historic areas, many of which were constructed at the end of the 19th century. And of course, the tour will include the 24.5-acre hilltop park, full of inspiring harbor and city views. Don’t miss out!

5. Art Wars! The Founding of the Met, MoMA and the Whitney

August 26th, 11:00am – 1:00pm
Museum Mile
Tickets: $30

Image Courtesy Guggenheim

Led by Deborah Zelcer, this tour will encompass some of the city’s most prominent museums dating back to the conclusion of the Civil War. Tasked with the goal of proving the refinement and artistry of America in the face of Old Europe’s resplendent classic art, the founders of museums such as the National Academy of Design and the Whitney Museum sought to define art and culture in America. The conversation will also include details about the newer incarnations of these museums and how politics comes into play.

TOWN Data | Price Reduction Report 7/20

TOWN Residential is pleased to share the Price Reduction Report, a detailed analysis of price reductions throughout Manhattan broken down by individual neighborhood and calculated by dollar amount, percent amount and number of days on the market. 

This installment of the report examines 1,455 active listings with price reductions within the last 90 days, comprised of 811 condos, 595 co-ops, and 46 condops.

The report reveals an average dollar amount reduction of $188,629 and an average price percentage reduction of 5%.

Average days on the market this month registered at 179, compared to 170 last month. Two-bedroom apartments made up 31.5% of the total, while one-bedrooms made up 28%, remaining relatively unchanged from the last report’s analysis.

Battery Park, Lincoln Square, and the Financial District each saw an increase of 10 new listings with a price drop since June. Since June 15th, there have been 39 new listings with a price decrease.

Events | Outdoor Movie Venues

Now that the heyday of summer’s patriotic start is behind us, August is the perfect time to relax. In our opinion, the perfect summer evening consists of joining family and friends for a picnic in front of an outdoor movie screen. We’ve gathered a list of several outdoor movie venues in and around New York City that will do just that. From film festivals and summer series to parks and rooftops, these events are the perfect opportunities to soak up the last of the summer while watching some of your all-time favorite classics.

1. HBO Bryant Park Summer Film Festival

Bryant Park Lawn
Mondays through August 21st 5:00 pm

What’s better than an excuse to look forward to Monday? Every Monday night to start off each week, Bryant Park opens its lawn for families and friends to enjoy a nice picnic and a timeless film at sunset. The series is now celebrating its 25th year, so bring your own blankets and food (or purchase some on the Fountain Terrace’s Bryant Park Shop or Hester Street Fair) and enjoy the films!

2. Rooftop Films Summer Series

Various Locations

Few things sound more enticing than enjoying a film in front of an amazing New York City sunset. Rooftop Films is a non-profit organization committed to inspiring audiences far and wide by bringing indie “underground” movies to the rooftops of the city. As one of the leading independent film organizations in the country, Rooftop shows movies at various locations including Coney Island, Socrates Sculpture Park and the William Vale. Make sure to pencil some in this August!

3. Rooftop Cinema Club

YOTEL New York City, 570 10th Avenue, Manhattan
OfficeOps, 57 Thames Street, Brooklyn 

Looking for the perfect movie night under the gorgeous night sky with your favorite eats in a comfy seat? Head to Midtown’s YOTEL New York City rooftop or Brooklyn’s OfficeOps rooftop for an incredible outdoor cinema experience. The Rooftop Cinema Club is the ultimate movie experience, offering wireless headphones which create a surround sound experience, as well as panoramic city views and (hopefully) stunning city sunsets. Don’t miss out on this unique outdoor movie theater experience.

4. SummerScreen

McCarren Park, Brooklyn
Wednesdays, sundown around 8:00 pm

SummerScreen began in 2006 and continues strong 12 years later, screening films for people near or far to come and watch all summer long. The organization promotes a fantastic outdoor cinema experience. All attendees are required to bring their own blankets, chairs and snacks, and pets are welcome!  You definitely won’t regret taking a trip to Brooklyn this summer for an exceptional SummerScreen outdoor cinema experience.

5. Movies Under the Stars

Various Locations

Image Courtesy Gotham Magazine

This summer, NYC Parks and the Mayor’s Office of Media and Entertainment have teamed up to show more than 150 film screening at parks across all five boroughs. The family-friendly flicks range from new releases to timeless classics. Bring your picnic blanket, popcorn and family, and enjoy the fun!

TOWN Data | Contract Signed Report 7/11

An authoritative source on Manhattan’s Luxury Market, TOWN Residential is pleased to share the Contract Signed Activity Report, an up-to-the-minute report of the last week’s activity broken down by neighborhood and price point. 

During Week 28, July 3 through July 9, 169 contracts – comprised of 92 co-ops, 69 condos, 5 condops and 3 townhouses – were signed in Manhattan. 

Of the units in contract, 42 were priced from $1,000,000-$2,000,000 and 34 were priced from $2,000,000-$5,000,000 with an average days on market of 124 and 154 respectively. 

Please click through for a neighborhood by neighborhood analysis. 

TOWN Data | Week in Numbers 7/7

TOWN Residential is proud to share the Week in Numbers, a clear-cut amalgamation of data intended to keep you up-to-date and ensure you make the most informed decisions.

During the 27th week of 2017, June 29 through July 6, both the average sales price and rental price increased by 0.7% and 0.8% respectively.

TOWN Data | The Aggregate Second Quarter 2017

TOWN Residential is pleased to present The Aggregate™, a quarterly analysis of the Manhattan residential real estate market. As New York’s leading fully-integrated residential real estate services firm, TOWN is a sought-after source of Manhattan neighborhood expertise spanning residential sales; leasing; and the marketing, sales, and leasing of property developments. 

With The Aggregate™, TOWN presents a comprehensive report on sales behavior across distinct asset classes from April to June 2017, and compares those transaction values with quarter-over-quarter and year-over-year values.

Despite a minimal increase in median days on the market, the overall Manhattan sales market showed continued strength in sales prices on both quarterly and yearly measures. Following a nearly 10% quarter-over-quarter increase during the first quarter, the median sales price again made gains, increasing by 5.3% from $1,155,611 to $1,216,809. Year-over-year, the median sales price increased by 5.8%. Market-wide, the average sales price showed less movement from the last quarter, increasing by 2.8% to $2,279,618. Year-over-year, the average sales price registered an increase of 7%.

For the full report, click here.