According to a search on listings website Streeteasy.com, there are 42 condo listings on Manhattan’s upper west side with at least 2 bedrooms/2 bathrooms under $2 million. The largest apartment for sale in this price range is a 1400 sqft duplex and the listings include 16 listings for $1.7 million and under.
The listings include two listings in the newly converted 350 W 71st street and overall 23 of the 42 listings are in Lincoln Square with many in the amenity rich Riverside Boulevard buildings as sellers attempt to move on from buildings with a tax abatement either recently expired or expiring soon. 7 of the 42 listings are in the Avery, at 100 Riverside boulevard which has a tax abatement expiring in 2 years. Overall, the Avery has 20 listings for sale of the 266 units.
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.
The Upper West side townhouse market has seen increasing inventory over the last several months and fewer and fewer sales. In the last 3 months, 22 new listings have come on the market.
Last 3 months
# Sales
Average/month
Low price
High price
Inventory
8
2.7
3.9 million
9.25 million
24 months
The next table shows all 8 sales in the last 3 months, with sale price and price per square foot.
Address
Sale Price
PPSFT
308
W 90 ST
$3,900,000
$955
112
W 75 ST
$4,500,000
$649
113
W 75 ST
$5,000,000
$789
47
W 95 ST
$5,399,157
$1,342
16
W 88 ST
$8,000,000
$1,399
161
W 91 ST
$8,072,000
$2,026
316
W 88 ST
$8,375,000
$1,560
43
W 76 ST
$9,250,000
$1,357
Interestingly enough half of the sale recorded in the last 3 months for Upper West side townhouses were for <$5.5 million and the other half roughly between $8 million to $9.3 million. No sales were recorded above $10 million in the last 3 months and only 2 this year.
Currently at $10 million and up, there are 25 listings available which confirms that this segment of the market is deeply in a buyers market.
Below $10 million, there are 40 listings available on Manhattan’s upper west side. So if you segment the market to below $10 mm then the inventory level looks more like it will last about 15 months which is still a buyer’s 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.
A convertible 1 bedroom has been listed in the Olmstead condominium at 382 Central Park west. The apartment is a north facing 648 sqft, with a renovated kitchen and bathroom. The monthly charges are very low at $910 for a full service building with a gym, parking(waitlist), and an exercise studio which features classes for residents. See VR Tour below.
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.
If you are living or thinking of living on Manhattan’s Upper West side, and can find an apartment close to Riverside Park, you will always be able to do find something to do even if it’s just a stroll on a hot summer day.
There’s a Cherry Walk from 100th to 125th street on the water as well as the red clay tennis courts at West 96th street in case you want to channel the spirit of The French Open. There’s soccer fields, long winding paths, the Boat Basin Cafe and this just takes you into the West 70’s. Here are some photos to get you motivated to take a walk on the Hudson River and maybe catch a sunset, take a free yoga class or watch an outdoor movie. Click on the below for a list of events. Calendar of events in Riverside Park
View of the Hudson River
79th street Boat Basin
Space for your yacht?
If you live on Riverside drive, you just stroll right down to the park
View towards the Pier Cafe
One of the best places to live is in one of the many full service buildings on Riverside boulevard. There are a range of apartments from studios to family size apartments. Many of the buildings have roof decks, and swimming pools among the amenities. One of the best buildings is the newest addition- One Riverside Park where a 3 bed/3.5 of around 2000 sqft (185m2) can be had for under $4 million or rented for under $10k per month. Around the corner at 1 West end avenue, you can find interesting offerings at around $2000 per sqft and this building comes with a 20 year tax abatement.
Beyond the glitzy new condos in this section of Lincoln Square, you can find the more affordable Lincoln Towers, a postwar co-op on West end avenue. In Lincoln Towers, there is a 2 bedroom/2 bathroom apartment for sale under $1.5 million. This co-op has several buildings and while not as fancy as it’s neighbors to the west, it is more centrally located, a full two avenues closer to Broadway including Zabar’s and the express subway stop.
Riverside boulevard buildings
Whether you decide to purchase, rent near Riverside Park or just pass through, there’s always plenty to do…
Last night, the Lincoln Square AMC on Manhattan’s upper west side evacuated at about 7:30pm. As we entered the Imax on the top floor at about 6:30pm, there was a smell of smoke but the ticket taker seemed confused when we pointed it out to her and thought it was the food concession.
About 45 minutes into the movie, there was a voice that asked everyone to calmly leave the theater. On the way out there was smoke coming from that concession. We went down the stairs and left. Numerous fire trucks arrived quickly on the scene and one firefighter climbed up the ladder towards the terrace facing Broadway, that is one floor the Imax theater.
According to the latest reports, about 4600 new condo units will be listed this year in NYC. That is in addition to over 3000 that came online in 2017. Given that new development without an amazing location, is selling slowly that sounds like a lot of choices for buyers and anxiety for developers.
Ziel Feldman is bringing to market $3.4 billion in inventory within two projects. One is the Upper West side conversion of the Belnord with large units over 2000 square feet and another is the twisting condo towers known as XI on the Highline. Both projects come with starchitect pedigrees with Robert A.M. Stern redesigning the Belnord and Bjarke Ingels handling the designing of the new construction Highline condo.
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.
With approximately 6,000 units of new development in the market throughout NYC, there is an obvious glut. But some developments like 250 W 81st street are raising prices. In the Robert A.M. Stern designed building, the largest units were the first to sell and the buyers are coming from the local market with zero foreign buyers. In addition, the location on Manhattan’s upper west side, has a scarcity of new development.
Most developers believe that within 2-3 years, most of the existing inventory will be gone so now is a good time for them to begin the process knowing full well the market may swing in the favor by the time they are ready to start selling.
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.
Here is the update on the market conditions in Park West Village, the 4 building condo complex that runs from West 97th street to West 100th street between Columbus and Central Park west. Inventory is low with each building having no more than 3 units available for sale. Considering that each building has over 400 units, that’s a minuscule amount of inventory available. Interestingly, there are no 2 bedroom/2bathroom apartments available right now in the Upper West side complex.
The table below shows the number of active listings, contracts signed this year that have not closed and closed sale since the beginning of the year.
Building #
listings
contracts
sold
400
3
1
3
392
2
1
3
382
3
4
3
372
2
1
5
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.
The Upper West Side Trader Joe’s, located between 92nd and 93rd street on Columbus avenue will be opening on May 4th at 10am according to NBC.
A Soho Trader Joe’s is not far behind as they recently held a job fair for the store on Spring street.
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.
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.
