ELIZABETH D’LOREN
Enclosed
F A I R V A L U E L E T T E R
C O M P A R A B L E S A L E S D A T A ( N E I G H B O R H O O D : T R I B E C A )
W H A T ’ S I N - C O N T R A C T ? M A R K E T R E P
The Meier Team at Berkshire Hathaway Home Services
590 Madison Avenue, New York, NY 10022
08-13-2025
Dear Elizabeth,
I’ve completed my fair-value assessment for 55 Hudson Street, Unit 6A, New York, NY 10013 Based on the data, I estimate its market value to be between $2,175,000 and $2,375,000
Key Factors in this Valuation:
Recent closed sales in the building and neighborhood comparable sales
Current maintenance fee and any building assessments
The unit’s condition, including any recent renovations or upgrades
Current inventory levels
Demand for turnkey tomes in Tribeca
Key Notes:
Strong Building Fundamentals: solid financial health, diligent care and upkeep, and all recent assessments now completed This makes this a stable, well-run co-op to buy into
Predictable Costs: The maintenance fees have seen a steady, modest increase, most recently a 4% bump this year since 2023, and roughly 9% over the past four years, reflecting prudent financial management
Given the factors above and the interest in this unit, it’s a high probability the seller will receive offers near the full asking price I recommend opening at $2,275,000, the midpoint of the fair-value range This signals strength, keeps us competitive, and allows us to gauge the seller’s position before making any further commitments
I look forward to hearing your thoughts and decision
Unit 6A
1 Bed; 2 Baths (Can be converted to a true 2-bed)
Maintenance: $3593
Exposures: West (Obstructed)
Assessments: None
C
O M P A R A B L E
S A L E S
CO-OPS
1-2-bed, 2-bath RECENTLY SOLD TRIBECA
399 WASHINGTON ST. #3
NEW YORK, NY, 10013
$2,750,000
TRIBECA
Located in the heart of Tribeca, this serene boutique co-op consists of just 5 full floor lofts. The keyed elevator opens directly into your extraordinary full floor space, featuring approximately 1700 square feet and 10 foot ceilings with room for 2 spacious bedrooms plus a den, nursery or home office. This classic NYC loft has original wood floors and beams, with tin ceilings adding to its charm and grace. A meticulously renovated kitchen has Miele stainless steel appliances, a double oven and a huge pantry. The custom marble island is great for entertaining and provides extra counter space when you're exploring your inner chef. Central 3-zone AC ensures maximum comfort. There is excellent storage in the apartment and extra dedicated storage. Hudson River Park with its wonderful piers and recreation spaces is just one block away. 399 Washington is a cast-iron and brick building constructed for Max Ams, a prominent German wholesaler who owned several buildings in the Tribeca Historic District. Residents of this pet-friendly five-unit cooperative enjoy low maintenance, a fully modernized elevator, an updated lobby and entry, central HVAC with newer boiler and condenser, private basement storage, local management and superintendent service. There is a capital contribution equal to two months maintenance, payable by the purchaser.
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com
Co-op
Maintenance/CC: $2,700
1 Bedroom
2 Full Bathrooms
5 Rooms
List Date 9.18.2024
FEATURES: Outdoor Space, W/D, Elevator, Building Laundry, Rooftop, Storage, East Exposure, West Exposure, Skyline View, Full Floor
39 WORTH ST. #3W
NEW YORK, NY, 10013
$2,625,000
TRIBECA
Great value in prime Tribeca! This dramatic 2,125 square foot full-floor loft with keyedelevator access and 12-foot ceilings is "renovation ready" and being sold with necessary permits and approvals in place. Price includes nearly $100,000 worth of design, architecture, mechanical and sound engineering, expediting, DOB and Landmarks filings and permitting. A truly rare opportunity to save months in planning and permitting expenses and start your renovation immediately upon closing! The proposed floor plan calls for an expansive Living/Dining room with 12'ceilings and exposed brick walls, a large state-of-the art chef's kitchen from Molteni with Gaggenau appliances, two bedrooms, a guest room, a built-in office and 2 luxurious bathrooms. Pre-selected materials for the renovation include 8-foot tall sliding doors from Rimadesio, Hansgrohe AXOR bathroom fixtures, Molteni kitchen cabinets, closets and wardrobes, Gaggenau appliances and custom Flos lighting throughout. All materials have been carefully considered and design documentation with itemized budgets are available upon request. Whether you choose to implement the existing plans, or hire your own architect to execute your personal design vision, you will be purchasing a wonderful loft with great bones in a financially sound coop with keyed-elevator access, video intercom security, bike room and common roof deck. And of course, there's the prime Tribeca location with great restaurants, cafes, shopping, highly rated schools and all major subway lines right at your doorstep. Don't miss this opportunity to create your dream home in Downtown's most celebrated community. Special Assessment $610.70 per month Capital Assessment $441.18 per month expires June 2025
Co-op
Maintenance/CC: $2,624
2125 Sq. Ft. Approx.
2 Bedrooms
2 Full Bathrooms
6 Rooms
List Date 4.10.2025
FEATURES: Outdoor Space, W/D, Bike Storage, Elevator, Rooftop, Storage, North Exposure, South Exposure, Full Floor
POLICIES: Pets Allowed
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com
18 DESBROSSES ST. #1
NEW YORK, NY, 10013
$2,565,000
TRIBECA
Spectacular Location, Phenomenal Opportunity! 18 Desbrosses Street, 1 (aka 18-1) NOW AT AN AMAZING NEW PRICE! This North Tribeca loft has its own private entrance and is situated on a picturesque cobblestone street nestled within a turn of the century landmarked warehouse loft building on one of the most exclusive blocks of Tribeca's Historic District. This 2,450 square foot home features soaring 13'6" foot ceilings (enough height to build mezzanines) 30 feet wide boasting exposed brick walls and original cast iron center columns this whimsical loft is filled with original-details. Two bedrooms, one and a half bathrooms, (currently configured as one bedroom and an office), kitchen, an amazing open great room and plenty of closet space and storage space. This loft is optimal for entertaining or to escape the hustle and bustle of the city. The possibilities are endless with the abundance of space and flexibility it provides! Enjoy this expansive open home as is, or reimagine to your hearts desire. Built in 1885, originally The Romanoff Caviar Factory 18 Desbrosses Street is an landmarked intimate-boutique cooperative comprised of six building with 35 units, low monthly maintenance fees, a full time super and porter, bike storage, lobby/package room and an amazing newly developed common roof deck with breathtaking views. Neighboring 443 Greenwich Street and the world class Fouquet Hotel, this home is in the heart of North Tribeca's gold coast with direct access to the Hudson River Park, the chic boutiques of Soho and the West Village, surrounding neighborhood restaurants that include Locanda Verde, Bubby's, Houseman and Mr. Chow, easy access to multiple subways including 1/2/3, A/C/E, N/Q/R, and 4/5/6. Washer/Dryer Allowed in Unit. Don't miss the opportunity to make this wonderful loft your own. Assessment in place. 2% flip tax split 50/50 betwee...
Co-op
Maintenance/CC: $3,447
2450 Sq. Ft. Approx.
1 Bedroom
1 Full, 1 Part. Bathrooms
6 Rooms
List Date 5.13.2024
FEATURES: Outdoor Space, W/D, Bike Storage, Elevator, Rooftop, Prewar, Storage, Landmark, North Exposure, South Exposure, West Exposure, Water View, Package Room
POLICIES: Pets Allowed
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com
50 WALKER ST. #A5
NEW YORK, NY, 10013
$2,500,000
TRIBECA
Dreamy TriBeCa Loft with High Ceilings and Exposed Beams Welcome to this stunning custom co-op with high ceilings and bright southern exposure, a 2-bedroom, 2bathroom loft with a prime Tribeca address and industrial charm. Gorgeous hardwood floors gleam beneath incredible exposed wooden beams. Natural light spills into the home through oversized sash windows. Dedicated home office space and an in-home laundry room with a side-by-side washer/dryer are thoughtful amenities for today's stay-at-home lifestyle. A semi-private elevator landing opens into a windowed foyer and spacious gallery adorned with a wall of coat closets. Beyond them is an expansive great room with soaring columns and an abundance of natural light. The kitchen is equipped with a large eat-in island, sleek stone and stainless steel countertops, a glass tile backsplash, custom cabinets, and a suite of high-end stainless steel appliances. Both bedrooms sit far away from the street and are private and quiet. The primary bedroom boasts a wall of reach-in closets and an pristine en-suite bathroom with an oversized vanity, tiled walls and floors, and a unique sunken soaking tub with a rain showerhead. The second bedroom has large closets and easy access to a second full bathroom with a step-in shower and modern finishes. This home has central A/C. 50 Walker Street is a prewar co-op nestled in the Tribeca East Historic District. The building has a key-locked elevator and it is steps from restaurants, bars, cafes, and shops. It is close to Chinatown, SoHo, and Hudson Square, and is about ten minutes from Pier 25 and the Hudson River Greenway. Nearby subway lines include the 1/6/A/C/E/N/Q/R/W/J/Z. Pets and pieds-a-terre are welcome.
Co-op
Maintenance/CC: $2,131
2 Bedrooms
2 Full Bathrooms
5 Rooms
List Date 9.17.2021
FEATURES: Elevator, Central Ac, W/D, South Exposure, Skyline View, Foyer
POLICIES: Pets Allowed, Pied A Terre
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798
10
LEONARD
ST. #6N
NEW YORK, NY, 10013
$2,150,000
TRIBECA
Nestled in the heart of Tribeca, 10 Leonard Street 6N offers a unique opportunity to own a versatile and character-filled loft. This expansive 2-bedroom, 2-bathroom residence is currently configured as two separate 1-bedroom, 1-bathroom units, offering a variety of possibilities to suit your lifestyle needs. Filled with original details, including wood floors, French doors leading to the bedrooms, and windows framed by exposed brick, this is a true gem. The space is a blank canvas, perfect for your creative vision and ready for your architect’s touch. Whether you envision combining the two units into a three-bedroom home or maintaining the current layout to enjoy both a personal residence and rental income, the possibilities are endless. 10 Leonard Street is an exclusive building with just 15 residences, featuring keyed elevator access, video entrance security, private basement storage, a part-time super, and pet-friendly policies. Located in one of New York City's most desirable neighborhoods, you'll enjoy easy access to the city’s finest dining, shopping, parks, and schools.
Co-op Maintenance/CC: $3,519
2 Bedrooms
2 Full Bathrooms
4 Rooms
List Date 9.16.2024
FEATURES: W/D, Elevator, Prewar, Storage
POLICIES: Pets Allowed
W H A T ’ S I N -
C
O N T R A C T ?
CO-OPS
1-2-bed, 2-bath
IN-CONTRACT
TRIBECA
126 CHAMBERS ST. #3
NEW YORK, NY, 10007
$2,165,000
TRIBECA
BETTER THAN CONDO! Subletting Allowed, No Board Package, Great Bldg Financials, Co-op Closing Costs save big $$$! Great Layout! MINT RENOVATED Full Floor Loft in Tribeca with just $1,349 Monthly Maint! Pristine Home has High Ceilings, Oversized Windows, Siberian Oak Floors, CENTRAL AIR, Washer/Dryer, and Custom Lighting highlighting the thoughtful details throughout. Open Kitchen includes Bertazzoni Gas Stove, Liebherr Refrigerator, Lacquer White Cabinets, Stone Countertops, Wine Fridge, and panel- disguised Bosch Dishwasher. Expansive Dining-Living Room gets abundant Sunlight, and Welcomes Entertaining. Primary Bedroom is Spacious with En-Suite Windowed Bathroom, and Huge Walk-In Closet, built out Exquisitely with all Custom Drawers, Pull Outs, and Handsome Hardware. Secondary Room lives as a Den/Guest Bedroom (not legally a 2nd bedroom because it lacks an exterior window) and has a Glass Panel that allows light to enter. Oversized Bathroom has Full Slab Statuary Marble, Floating Sink, Heated Floors, and Luxurious Spa-Like Shower. Second Bathroom includes a Soaking Tub, Radiant Heated floors, and Wall Hung Towel Heater. This Museum Quality Renovation was built without an expense spared for the discerning homeowner. Perched perfectly above the tree-line, enjoy the Views of Architecturally Charming low rise buildings. Peaceful and Quiet, this mid-block residence offers close proximity to the Chambers 2/3 train on the corner, as well as most other subway lines, within blocks. 126 Chambers Street Apt 3 enjoys the perfect blend of contemporary living in this sleek renovation, with the Old World Charm and Rich History of a mid-19th Century building, decorated with Cast Iron, brick, and limestone. Vibrant Tribeca Location has become one of the most desirable Manhattan Lifestyle destinations, offering the excitement and conveniences of Michelin Star Restau...
Co-op
Maintenance/CC: $1,349
2 Bedrooms
2 Full Bathrooms
4 Rooms
List Date 4.21.2025
FEATURES: Outdoor Space, W/D, Rooftop, North Exposure, South Exposure, Central Ac, Dishwasher, Full Floor
POLICIES: Pets Allowed, Pied A Terre
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com
134 DUANE ST. #4S
NEW YORK, NY, 10013
$2,000,000
TRIBECA
This peaceful south-facing loft is the perfect marriage of Prewar charm and modern upgrades and conveniences, boasting 11-foot ceilings, cast iron columns, exposed brick, central A/C, beautiful walnut hardwood floors throughout, filtered cold water, and Bosch washer/dryer units. The sprawling living room, which features a flexible layout and a wall of massive windows, is overlooked by a renovated open kitchen with a gas Wolf range, Liebherr refrigerator, dishwasher, garbage disposal, custom cabinetry, quartzite countertop and breakfast bar, and adjacent powder room. The king-sized interior primary bedroom has a wall of closets and a large en suite bathroom with a shower/tub combo. The second interior bedroom can also be used as a den or home office. Other hallmarks of this exceptional residence include bespoke lighting and ceiling fans and a large 173-SF storage unit that conveys. This pet-friendly, wellmanaged co-op has video intercom security, a full-time local super, key-locked elevator, Verizon Fios and Spectrum, and just two lofts per floor. Ideally located in the heart of prime Tribeca close to all the old school restaurants and bars, Duane Park, the Hudson River Esplanade, excellent schools, Whole Foods, the shops at Brookfield Place, the Freedom Tower's Oculus, and the 1/2/3, A/C/E, and 4/5/6 subways. Subletting and co-purchasing allowed with board approval. And best of all, this financially solid building is blessed with unbelievably low maintenance! Please note that the elevator goes to the 5th floor and one then needs to walk down one flight of stairs to access the apartment.
Apple Christie-Wallace o: 646-677-9374 c: (347) 443-4798 achristiewallace@bhhsnyp.com
Co-op
Maintenance/CC: $800
2 Bedrooms
1 Full, 1 Part. Bathrooms
4 Rooms
List Date 4.16.2025
FEATURES: Outdoor Space, W/D, Elevator, Rooftop, Prewar, Storage, South Exposure, Skyline View, Water View, Central Ac, Dishwasher
M E I E R M A R K E T
R E P O R T
AUGUST 2025
Last month, a new law went into effect in New York City that changed the rules for rental commissions. If a broker is working for the landlord, they can’t charge the tenant a fee anymore. Sounds good, right?
It’s not.
Here’s what actually happened: a ton of landlords, especially in the luxury market, said forget it. They’re pulling listings, going quiet, or finding tenants off-market so they don’t have to pay a broker fee. That means way fewer good listings are even available. Supply was already tight and now it’s worse.
And the few units left? Rents have shot up. Not just the ones being listed now—renewals are coming in 10% or more above last years numbers. We’re seeing it firsthand. Landlords know tenants have nowhere to go, so they’re jacking prices. Tenants are stuck. Moving costs more. Staying costs more. There’s no cheap option.
Nobody’s talking about this. The headlines are all about how expensive the new listings are, but the real pressure is on current tenants just trying to renew. Even well-qualified, long-term renters are getting squeezed hard.
So what happens next? People start doing the math. With rents jumping, mortgage rates slowly coming down, and inventory sitting on the sales side, it’s starting to make more sense to buy than rent again. We’re already seeing it. Renters who got hit with huge renewal hikes are now calling us looking to buy instead.
This shift might just light the fuse of the sales market again.
And one more thing If Trump’s capital gains plan passes (the one to eliminate taxes on primary residence gains), that’s going to be fuel to the fire. If sellers can walk away tax-free, more of them will list. If buyers can own for less than renting, they’ll stop waiting.
We’re entering a window. The fall market could be a turning point.
If you’re renting, you’re probably overpaying. If you’re thinking about selling, your timing might actually line up for once. Either way, I’m here to walk you through it.
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.
1 BEDROOMS
310 Units -3.4%
2 BEDROOMS
315 Units -4.8%
3+ BEDROOMS
237 Units +51.0%
Contracts Signed/Accepted Offer Over the Past 12 Months
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.
SUPPLY
Current residential co-op, condos, and townhouses currently for sale in Manhattan.
MARKET VOTALITY
Available sales vs. number of units in contract at a given time. If there are 1,000 active listings and 1,000 listings in contract, the Volatility rate is 1. In a balanced market, the number will be 1-1.5.
ABSORPTION RATE
The rate of which available homes are sold in a specific real estate market during a given time period. A balanced market will show a number between 3 and 6.
MONTHLY CLOSINGS
The amount of residential closings in Manhattan each month.
Apple Christie-Wallace
Brian Meier
Krisstopher Valcin
Bruce Goveia
John Guerrero Corey Mittenthal
Doron Berenholtz
Amanda Barba
Hoda Dodd
Jeffrey Berman
Jae Gardner
Corinne Newton