NEW YORK
NEW YORK
NEW YORK
R E A L E S TAT E
NEW YORK
NEW YORK
NEW YORK
THE AMM TEAM
D D R E P S ; S A R A F OX
Amanda Cannon Goldworm, Megan Duryea Scott, and Merrill Curtis at Sotheby’s International Realty 212.606.4129 / ammteam@sothebyshomes.com
Q: Tell me about the current state of the Manhattan real estate market. A: The Manhattan market is incredibly active but it remains price sensitive. Starting at the end of the first quarter of this year, the market started to see record levels of signed contracts and that trend continued through the third quarter. The combination of buyers wanting to take advantage of the lower prices brought on by the pandemic as well as great deal of movement that was created from this COVID period were the primary drivers in the activity. We have seen a number of people who had fled the city in 2020, deciding to return. Another trend we are seeing is downtown families moving uptown, who perhaps have children in school uptown. We also saw people trading up to larger apartments who perhaps would have waited several more years to do that. Q: Where can buyers find good deals, now that the COVID-19 bargaining days are behind us? A: Apartments that require a complete renovation continue
to represent good value given people are generally not keen to take on a renovation due to significant constructions costs and supply chain delays. Q: What are buyers looking for in listings right now? What’s trending? A: The two most critical things buyers are looking for in listings are: renovated and well-priced. Q: Which neighborhoods are popular for young couples and families? A: We still find that the Upper East Side, Upper West Side, and TriBeCa are the most popular neighborhoods for families. The West Village seems to remain the most popular for young couples.
149 East 73rd Street #5A New York, New York; $5,750,000.
NOVEMBER 2021 97