2023 New Year

HOW DO YOU SEE YOUR NEW YEAR?
NEWS & VIEWS | MANHATTAN | JANUARY 2023

Hello 2023! I hope we all have the chance to reflect on our goals and dreams as we enter this new year, with the intention of staying healthy and thriving despite the constant changes.

I have prepared some latest stats for your review. And please do check out our top floor penthouse listing in the heart of Gramercy Park, which features the largest private roof terrace within a the parameter of the historic neighborhood.

To end on a warm note, see some ideas for your gatherings with friends.

Wishing everyone a Happy, Healthy, and Prosperous New Year!

Jennie Ma

The Corcoran Report 4Q | 2022 | Manhattan

Here’s what happened during Manhattan’s fourth quarter of 2022:

The Fourth Quarter of 2022 represents a market in transition. 2022 was an eventful year in real estate as conditions shifted from one of the strongest markets ever to a more challenging environment as buyers’ needs and the economy changed.
As we saw in 3Q2022, buyers are still gravitating towards value and homes priced at the lower end of the market, resulting in a decline in both median and average price. Median price was down 8% to $1.107M, however it matches the median price seen in 1Q2021.
After five consecutive quarters of annual decline, overall inventory across the city was up 4%. Buyers looking for homes with two or three bedrooms will have more options as we head into 2023. Gravitation towards value caused the number of available studio and one bedrooms to fall by 9% and 2% respectively. In contrast, the number of listings for two and three+ bedroom units rose 10% and 9%.

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Manhattan Weekly Snapshot - December 31, 2022 to January 6, 2023

Below are some key highlights from the week:

There were 129 contracts reported signed last week, up 25% versus the prior holiday week, but the second slowest week since July 2020.
Contract activity was down 40% annually but just two sales less than the same week in 2019 and 32% higher than the same week in 2020.
Two bedrooms had the most sales last week, increasing 85% versus the prior week and seeing the smallest decline in activity year-over-year.

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Gramercy Park, 121 East 22nd Street

Duplex Penthouse + Private Roof Deck

121 East 22nd Street, SPH sits atop the south tower of this new condominium development in the heart of Gramercy Park. A unique 3,248 square foot full floor penthouse duplex offers four bedrooms with four full baths, and a powder room. The 72-foot-wide private rooftop terrace is equipped with a full outdoor kitchen, barbecue grill, and fire pit.

This new construction project is designed by OMA, a studio founded by Rem Koolhaas. Automated indoor private parking are available for an additional price.

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Happening Around the Boroughs

Winter Jazzfest
In New York City, January is not the most popular month as far as music festivals are concerned; however, for the world of Jazz it is! Since its founding in 2005, Winter Jazzfest has cemented a reputation as a hotbed of cultural discovery, presenting new and exciting sounds and scenes throughout New York's boroughs. This year the festival will take place over the course of seven nights from January 12th to January 18th and will feature over 400 musicians at 15 venues. Check out the full lineup and purchase your tickets at the link below!
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Best Winter Rooftop Bars

Just because the sunny warm weather has gone away, doesn't mean rooftop season has to. New York City is known for some of the best rooftop bars, and in the winter, the sunshine and frozen drinks are swapped out for igloos and hot cocktails. Check out the list below for some of the top winter rooftops in NYC.

Jennie Ma
Lic. as Jennie Ma
Licensed Associate Real Estate Broker
(917) 498-0300 (cell)
jennie.ma@corcoran.com
20th Year Selling NYC!
Bio & Listings

Real estate agents affiliated with The Corcoran Group are independent contractors and are not employees of The Corcoran Group. The Corcoran Group is a licensed real estate broker located at 590 Madison Ave, NY, NY 10022. All information herein is intended for information purposes only and has been compiled from sources deemed reliable, but Corcoran makes not warranty or representation as to the accuracy thereof. All dimensions provided are approximate. To obtain exact dimensions, Corcoran advises you to hire a qualified architect or engineer. Equal Housing Opportunity. ©2023 The Corcoran Group. All Rights Reserved.