The Upper West side townhouse market has been in a buyer’s market for the entirety of 2018. The last 4 months had 11 sales ranging from $3.8 million for a rent stabilized multi-family to a park block renovated 5 story townhouse at 31 W 89th street which sold during August for $13.3 million.
Current inventory stands at 60 townhouses/multi-family properties with the least expensive being for sale at $3.1 million for a 9 unit rent stabilized building on West 108th street near Riverside Park to 25.9 million for a townhouse at 248 Central Park west. Average days on the market for all Upper West townhouses is 230 days.
At the current pace it will take 22 months to sell off all of the existing inventory.
Below are the list of all the sales between August 1st and November 30th, 2018.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
On the sale side(see table below), there were 5 sales and some properties went to contract or were removed from the market which resulted in a decrease of inventory from 82 available listings in July to 70 in August. This led to a corresponding decrease in inventory levels to only 14 months from 21 months in July.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
In the month of April, 9 new listings for townhouses on the Manhattan’s Upper West side came on the market.
331 W 78th street
5.3 million
52 W 85th street
9.95 million
248 CPW
$29 million
42 W 70th street
$14.2 milllion
49 W 94th street
$6.288 million
22 W 90th street
$8.150 million
129 Manhattan ave
$5.25 million
164 W 81 street
$5.35 million
305 W 78th street
$7.95 million
Overall, there are 55 townhouses in the market on Manhattan’s Upper west side ranging from $4.35 million to $29 million for a high end renovation at 248 Central Park west.
Two contracts were signed in April for townhouses on the Upper West side. At this rate, it would take more than 2 years to sell all of the supply that currently exists in the market.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
According to the Real Deal reports, the rental market stayed flat in February which is not that unusual given the time of the year.Full story here The sales market saw over 800 contracts signed with roughly half being co-ops and half being condos. The $1 to $2 million range continues to do well, accounting for nearly 30% of all deals.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every Manhattan market from Battery Park City to Washington Heights.
News about the NYC real estate residential and commercial markets provided and interpreted by an industry veteran licensed since 1999. Brian Silvestry of BSRG Inc. Licensed real estate broker
Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
