Valuation Report - Whang

MANHATTAN HOME VALUES.COM

02-27-2024

VALUATION REPORT 1280 FIFTH AVE, #19G

JUN CHUL WHANG

Manha&an Home Values The Meier Team at Berkshire Hathaway New York 590 Madison Avenue, 5F, New York, NY 10022 team@manhaAanhomevalues.com T: 646-677-0046

Dear Jun, We have conducted a careful analysis of your property located at 1280 FiPh Avenue, #19G, New York, NY 10029. Based on our findings, our team have esUmated the current market value of your property at $2,200,000. This valuaUon is grounded in current market acUvity, comparable sales data and recent online representaUon of your unit. Enclosed with this leAer are comparable sales data that supported our valuaUon. In reviewing your property’s history, we noUced you aAempted to sell in 2020, however, it appears the unit was priced above market value at the Ume, resulUng in an unsuccessful sale. As the market has evolved since then, we’d like to offer you strategic insights on how to posiUon your property for its top value in the current market. Please let us know if you would like to discuss this further.

APer your review of our report, please reach out to us, as we’d love to hear your thoughts on our valuaUon. Thank you for entrusUng ManhaAan Home Values with the valuaUon of your property.

Kind Regards, Brian Meier and Apple ChrisUe-Wallace Founders of MHV at Berkshire Hathaway Home Services 1

1 It’s important to note that real estate valuaUons are subject to market fluctuaUons and other external factors. Therefore, this valuaUon serves

as a snapshot based on the current market condiUons and available data.

MANHATTAN HOME VALUES

COMPARABLE SALES DATA 1280 FIFTH AVE

Comparative Market Analysis created February 28, 2024

Subject Property

Address

Unit

PRICE

Beds

Baths

FT2

$/FT2

Total Monthlies

CC/Maint

RE Taxes

Park View

1280 Fifth Avenue

19G

$2,200,000

3

3

1,604

$1,371

-

-

-

No

Address

Unit

Price

Beds

Baths

FT2

$/FT2

Total Monthlies

CC/Maint

RE Taxes

Park View

1280 Fifth Avenue

20C

$2,200,000

2

2|1

1,490

$1,476

$4,257

$2,157

$2,100

No

1280 Fifth Avenue

PHB

$2,980,000

3

3

1,756

$1,697

$6,001

$3,078

$2,923

Yes

1280 Fifth Avenue

20B

$2,495,000

3

3

1,756

$1,420

$2,908

$2,908

-

Yes

1280 Fifth Ave

5B

$1,850,000

2

2

1,440

$1,284

$3,433

$1,745

$1,689

Yes

Active Averages (4)

-

$2,381,250

2.5

2.5 | 0

1,610

$1,469

$4,150

$2,472

$2,237

-

Address

Unit

Closing Price

Beds

Baths

FT2

$/FT2

Total Monthlies

CC/Maint

RE Taxes

Park View

1280 Fifth Avenue

14D

$1,600,000

3

2

1,490

$1,073

$3,953

$2,230

$1,723

Yes

1280 Fifth Avenue

7B

$1,885,000

2

2

1,480

$1,273

$3,522

$1,800

$1,722

Yes

Closed Sales Averages (2)

-

$1,742,500

2.5

2.0 | 0

1,485

$1,173

$3,738

$2,015

$1,723

-

Active Listings

Closed Sales

Summary

Count

Price

Beds

FT2

$/FT2

Total Monthlies

CC/Maint

RE Taxes

1280 Fifth Avenue #19G

-

$2,200,000

3

1,604

$1,371

-

-

-

Active Listings Averages

4

$2,381,250

2.5

1,610

$1,469

$4,150

$2,472

$2,237

Closed Sales Listings Averages

2

$1,742,500

2.5

1,485

$1,173

$3,738

$2,015

$1,723

Summary Average

6

$2,061,875

2.5

1,547

$1,321

$3,943

$2,243

$1,980

Status

Apple Christie-Wallace (347) 443-4798 | achristiewallace@bhhsnyp.com

1 of 1

1280 FIFTH AVE. #20C NEW YORK, NY, 10029

$2,200,000 UPPER CARNEGIE HILL

*Breathtaking Central Park and Skyline views!! This gorgeous 2 bedroom 2.5 bath apartment sits near the top of the elegant Robert A.M. Stern designed ONE MUSEUM MILE. Breathtaking Central Park and Skyline views with South and West exposures.

Exceptionally bright and spacious split floor plan enjoys a large living and dining room, perfect for entertaining. Gourmet open kitchen features granite counters and top of the line Miele, Thermador and Bosch appliances. The Master suite includes a huge walk-in closet; spa-like en-suite bathroom with shower and Zuma soaking tub. The private second bedroom offers a lovely en-suite bathroom and generous closet. A powder room and laundry complete this delightful home. ONE MUSEUM MILE is a white glove building, offering residents 24-hour doorman, concierge, live-in superintendent, gym, playroom, teen game room, dining/conference room, lounge and an enormous landscaped roof terrace, with pool, barbecue area and outdoor showers. Reasonably priced garage parking is available adjacent to the building. Showings begin February 1st. This apartment is also available for rent at $7,000 per month for one or two years.

Please advise if you are interested in renting rather than purchasing.

Condominium Maintenance/CC: $2,157 Monthly Taxes: $2,100 1490 Sq. Ft. Approx.

2 Bedrooms 2.5 Bathrooms 6 Rooms List Date 1.26.2024 FEATURES: Doorman, Elevator, Gym, Rooftop, Storage, Pool POLICIES: Pets Allowed, Subletting, Pied A Terre

Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

1280 FIFTH AVE. #PHB NEW YORK, NY, 10029

$2,980,000 UPPER CARNEGIE HILL

Please note, tenant in place and will require advanced notice for showings. Stunning Fifth Avenue Penthouse condominium with Central Park views now available at One Museum Mile, designed by world-renowned architect Robert A.M. Stern. Penthouse B at 1280 Fifth Avenue is a gorgeous corner residence with 3 bedrooms, 3 bathrooms spread over approximately 1,750 square feet that offer incredible vantages of Central Park and beyond. A welcoming entry foyer, complete with a coat closet, seamlessly transitions into the open-concept living area. The corner living room is bathed in natural light through the floor-to-ceiling windows facing with open views to the south and west. The adjoining kitchen features a gorgeous peninsula with granite countertops, integrated Thermador appliance package and bespoke cabinetry. The primary suite a sanctuary on its own with ample closets and a spa-like five-piece primary bathroom clad in travertine and mosaic tiles. The two secondary bedrooms are also both generous in size with accompanying bathrooms. The home is complete with an in-unit washer/dryer, PTAC system and beautifully appointed finishes throughout.

Positioned along Museum Mile, 1280 Fifth Avenue is a luxury condominium that offers 24-hour attended lobby, live-in resident manager, fitness center, on-site parking, bicycle room, and a well-curated rooftop terrace with a rooftop pool overlooking Central Park. The location is in close proximity to restaurants, museums and transportation.

Condominium Maintenance/CC: $3,078 Monthly Taxes: $2,923 1756 Sq. Ft. Approx.

3 Bedrooms 3 Bathrooms 6 Rooms List Date 10.20.2023 FEATURES: W/D, Bike Storage, Doorman, Elevator, Gym, Rooftop, Storage, Pool, South Exposure, West Exposure, Central Park View, Park View, Foyer

POLICIES: Pets Allowed, Pied A Terre

Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6 212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022

© 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

1280 FIFTH AVE. #20B NEW YORK, NY, 10029

$2,495,000 UPPER CARNEGIE HILL

Welcome to 1280 5th Avenue, Apartment 20B, a truly spectacular high-floor residence offering breathtaking panoramic views of Central Park and the iconic Manhattan skyline. As you step into this remarkable home, you are greeted by a formal 20-foot entrance gallery that sets the tone for the elegance and sophistication that awaits. The corner living and dining room is generously proportioned and bathed in natural light, thanks to its floor-toceiling windows that frame the mesmerizing views of Central Park and the city beyond. The kitchen is a chef's dream, featuring top-of-the-line appliances by Thermador, Miele, and Bosch, with teak cabinetry, granite countertops, and an oversize breakfast bar. That makes culinary endeavors a delight. The generous primary suite boasts three closets and a spa-like five fixture baths with limestone walls and floors, a deep-soaking tub by Zuma, an enclosed glass shower stall, and a Kallista double sink with Bianco Dolomiti counter tops With a convenient in-unit washer and dryer, modern living has never been more effortless. One Museum Mile is a prestigious white-glove full-service condominium, and Apartment 20B offers access to its comprehensive amenity suite. Imagine starting your day with a refreshing swim in the rooftop swimming pool, followed by a workout in the state-of-the-art fitness center with stunning views of Central Park. For special occasions and gatherings, the private dining room overlooking Central Park provides the perfect setting. Relax and socialize in the residents' lounge or challenge your friends to a game in the game room. Families will appreciate the dedicated children's playroom, offering a safe and enjoyable space for the little ones. To add to the convenience and value of this exceptional residence, a private storage unit is included in the sale, ensuring that you have ample space to store your belongings. E...

Condominium Maintenance/CC: $2,908 1756 Sq. Ft. Approx.

3 Bedrooms 3 Bathrooms 6 Rooms List Date 9.29.2023 FEATURES: W/D, Doorman, Elevator, Gym, Rooftop, Storage, Garage, Pool, Concierge, South Exposure, West Exposure, Central Park View, Park View, Water View, Playroom

POLICIES: Pets Allowed, Pied A Terre

Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6 212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022

© 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

1280 FIFTH AVE #5B NEW YORK, NY, 10029

$1,850,000 UPPER CARNEGIE HILL

One of the best layouts available at One Museum Mile, this Central Park-facing twobedroom condo offers the best in design, space, view, and flexibility. With oversized windows offering direct views of Central Park from every room and designed by Robert A.M. Stern Architects and Andre Kikoski, this home offers a gracious layout including a kitchen with top-of-the-line Bosch and Thermador appliances and granite countertops, a primary suite with multiple closets and an en-suite bathroom, and an oversized foyer and dining area that includes a huge walk-in closet/storage room. The building offers residents both timeless architecture and generous lifestyle amenities including a landscaped roof deck with an outdoor heated pool, a residents’ lounge with fireplace, a newly updated fitness center with a terrace, a children’s playroom with a window wall to the fitness center, game room, formal dining room facing Central Park with a fully equipped catering kitchen, media lounge, card room, rooftop lounge facing Central Park, bicycle storage, cold storage, and a parking space with storage inside. A full-time concierge, peak time door person coverage, and an on-site resident manager provide residents with discreet and exceptional service. Residents are greeted in the main lobby by a 44-foot-long alabaster-inspired art glass wall by Andre Kikoski and Weil Studio and a direct view of the park. *Please e-mail us for access. Parking and storage are available in the building for an additional charge.

Condominium Maintenance/CC: $1,745 Monthly Taxes: $1,689 1440 Sq. Ft. Approx.

2 Bedrooms 2 Bathrooms 5 Rooms List Date 3.22.2023 FEATURES: Garden, Bike Storage, Doorman, Elevator, Gym, Rooftop, Storage, Garage, Pool, Live In Super, Central Park View, Playroom, Media Room, Package Room, Cold Storage, Lounge, Dining Room, Catering Kitchen, Conference Room,

POLICIES: Pets Allowed, Subletting, Pied A Terre

Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6 212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022

© 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

1280 FIFTH AVE. #14D NEW YORK, NY, 10029

$1,600,000 UPPER CARNEGIE HILL

Priced to sell! Upon entering this beautifully renovated and meticulous 3 bedroom, 2 bathroom home at Fifth Avenue's One Museum Mile, one is immediately struck by the abundance of natural light and open city and park views from floor to ceiling southern and eastern facing windows. Boasting one of the most beautiful and newly renovated kitchens in the building, this expanded custom Bilotta Kitchen has new cabinetry, gorgeous white Quartz countertops, pull out shelving, and a mirrored back wall highlighting the Central Park views.

There is a Bosch dishwasher, Thermador oven, stovetop, and refrigerator, a vented Miele hood, Insinkerator garbage disposal, and an abundance of storage space. This kitchen was redesigned to not only be functional, but to also be gorgeous and of the highest quality. Past the kitchen is the south facing, sunny living/dining room with views that are equally stunning day and night. There is a custom track lighting system, Venetian plaster ceiling, and as with every room in this apartment, recently installed new quiet windows. The spacious and bright south facing primary suite has a large bedroom with Central Park views, generous closets including a walk-in, and a gorgeous 5-fixture spa-like bathroom with a huge window facing east. The split second bedroom is large enough to fit a king size bed, side tables and a desk.

The third bedroom, currently set up as a home office, can easily be converted to a bedroom by just adding a door and closet. Some of the many outstanding features of this home are a large laundry closet with Bosch washer/dryer, a Lutron lighting system, an abundance of Transform custom designed closets through-out (including a huge walk-in "Costco" closet), 4 TVs that can convey with a sale with all tv cable wires hidden in the walls, custom covers surrounding all PTAC units, and air conditioning controlled by Habitat control...

Condominium Maintenance/CC: $2,230 Monthly Taxes: $1,723 1490 Sq. Ft. Approx.

3 Bedrooms 2 Bathrooms 4 Rooms List Date 4.8.2023 FEATURES: W/D, Fireplace, Bike Storage, Doorman, Elevator, Gym, Rooftop, Storage, Garage, Pool, Concierge, South Exposure, East Exposure, Central Park View, Park View, Skyline View, Central Ac, Dishwasher, Playroom

POLICIES: Pets Allowed, Pied A Terre

Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6 212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022

© 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

1280 FIFTH AVE. #7B NEW YORK, NY, 10029

$1,885,000 UPPER CARNEGIE HILL

One of the best layouts available at One Museum Mile, this Central Park-facing twobedroom condo offers the best in design, flexibility, space, view, and customization.

With oversized windows offering direct views of Central Park from every room and designed by Robert A.M. Stern Architects and Andre Kikoski, this home offers a gracious layout including a kitchen with top-of-the-line Bosch and Thermador appliances and granite countertops, a master suite with two walk-in closets and an ensuite bathroom, and an oversized foyer and dining area that includes a huge walk-in closet/mudroom. The building offers residents both timeless architecture and generous lifestyle amenities including a landscaped roof deck with outdoor heated pool, residents’ lounge with fireplace, fitness center with terrace, children’s playroom with a window wall to the fitness center, game room, formal dining room facing Central Park with a fully equipped catering kitchen, media lounge, card room, rooftop lounge facing Central Park, bicycle storage, and cold storage. A full-time concierge, peak time door person coverage, and an on-site resident manager provide residents with discreet and exceptional service. Residents are greeted in the main lobby by a 44-foot long alabaster-inspired art glass wall by Andre Kikoski and Weil Studio. Parking in the onsite garage is available by a separate agreement.

Condominium Maintenance/CC: $1,800 Monthly Taxes: $1,722 1480 Sq. Ft. Approx.

2 Bedrooms 2 Bathrooms 5 Rooms List Date 2.22.2022 FEATURES: W/D, Bike Storage, Doorman, Elevator, Gym, Rooftop, Storage, Garage, Pool, Live In Super, Concierge, West Exposure, Central Park View, Skyline View, Water View, Dishwasher, Playroom, Media Room, Package Room, Cold Storage,

POLICIES: Pets Allowed, Subletting, Pied A Terre Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com

212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022 © 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

SUBWAYS: 110th St-Central Park North

2

0.24 MI

3

0.42 MI

6

110th St

0.25 MI

6

Cathedral Parkway-110th St

0.56 MI

C B

116th St

2

103rd St

3

0.38 MI

96th St

0.71 MI

6 212.710.1900 • contact@bhhsnyp.com • bhhsnyp.com • 590 Madison Avenue, New York, NY, 10022

© 2024 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

MANHATTAN HOME VALUES

PROPERTY CONDITION ASSESSMENT

02/27/2024

PROPERTY CONDITION ASSESSMENT: INCOMPLETE

As you have opted out of an on-site visit, we are unable to complete the Property Condition Assessment of our valuation report.

An on-site visit is necessary for us to accurately evaluate your property's condition, features, and identify any potential issues that could hinder sale potential. With this visit, we provide personalized suggestions and insights tailored to your property that can significantly increase its value in the current market.

While we can still provide a general estimate based on available online information and market trends, please note that our valuation may not fully reflect its peak value.

If you have any questions or would like to schedule an on-site visit in the future, please don't hesitate to contact us.

Thank you for your understanding.

Brian and Apple

MANHATTAN HOME VALUES

MARKET REPORT FEBRUARY 2024

FEBRUARY 2024

JUST RELE ASED FULL FLOOR CHELSEA PENTHOUSE

The

Meier Report

Rebounding Markets and New Sentiments: A Look at 2024’s Economic Landscape

FEBRUARY 2024

As 2024 gets underway, a new market sentiment has emerged, indicating a departure from the prevailing pessimism. Key developments include the transition from the “Higher for Longer” outlook to “Lower and Sooner,” driven by rapidly rising interest rates affecting real estate market sentiment. The anticipated 2023 recession did not materialize, leading to stable employment figures and robust GDP growth. Towards the end of the year, equity and crypto markets rebounded, offsetting early 2023 losses and potentially resulting in substantial bonuses.

New York City’s crime data showed improvement, particularly in violent crime, though further efforts and the expansion of affordable housing options are needed for business growth. Despite a decrease in New York State’s population as individuals moved to low-tax states, many realized that high insurance rates and real estate taxes offset potential savings, reaffirming the unique appeal of New York City. Real estate prices remained relatively stable, with localized market conditions emphasizing the need to rely on real-time data and insights, rather than outdated market reports. Stabilized markets are expected, with the possibility of price escalation as more individuals re-enter the market.

The straightforward account of today’s market. We highlight current market action as well as trends and risk factors that keep you informed. Whether translated into great investments or gaining insight on economic characteristics before you buy, this is the up-to-date news you need for assessing today’s Real Estate Market.

STUDIOS

2 BEDROOMS

-10.4%

+15.5%

69 Units

216 Units

1 BEDROOMS

3+ BEDROOMS

-15.4%

-5.1%

187 Units

148 Units

Contracts Signed/Accepted Offer Over the Past 12 Months 1000 800 600 400 200 0

2 3 4 5 6 7 8 9 10 11 12 1 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘23 ‘24

These numbers are offers that were accepted and contracts that were signed this month. This represents an accurate window into the Manhattan Real Estate Market.

FOUNDERS Manhattan Home Values was founded to empower homeowners. Too often, we've seen agents prioritize personal gain over integrity, inflating sales numbers. This often results in properties sitting for an extended time on the market with bare minimum marketing efforts.

Despite being agents ourselves, we are committed to ensuring homeowners are not merely being 'sold' to. Instead, we prioritize transparency and trust.

Through our accurate, comprehensive valuation reports provided at no cost or obligation, we empower homeowners with the knowledge and peace of mind they deserve.

“Our mission is to ensure that every homeowner has access to the information they need to make informed decisions about their property, free from pressure or hidden agendas.” - Brian Meier

““We're on a mission to redefine the real estate experience, one that is built on trust and an unwavering commitment to quality service.” - Apple Christie-Wallace

Sincerely,

Brian and Apple

Thank You FOR CHOOSING

MANHATTAN HOME VALUES

Brian and Apple BERKSHIRE HATHAWAY HOME SERVICES AND NEW YORK PROPERTIES