Park Avenue co-op led uptick in Manhattan luxury contracts

Manhattan’s luxury market is getting busier, but not much pricier. The borough cracked 20 contracts last week for the second straight period, according to Olshan Realty’s weekly report of homes in the borough asking $4 million or more. But despite the rise in activity, the volume came in short in the second week in a row that only two properties asking $10 million or more went into contract. The most expensive home to enter contract

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Jennifer Lawrence sells 443 Greenwich condo for $10M

Jennifer Lawrence is the latest celebrity to bid farewell to 443 Greenwich Street. The A-list actress sold her apartment in the star-studded, “paparazzi-proof” Tribeca building last month for $9.75 million, according to property records, which show that the unit was bought by three shell companies registered in Las Vegas. It’s more than the $9.03 million she paid for the 3,100-square-foot unit in 2017, but less than the $11 million she initially sought when she listed

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Signs of life for Hamptons, North Fork markets

The Hamptons and North Fork continue to be plagued by a lack of homes for sale, but there are signs of light at the end of the tunnel, according to a monthly report by Miller Samuel. While the Hamptons market remains tight, it may be beginning to rebound ahead of the spring market, said Jonathan Miller, who authored the report for Douglas Elliman. New inventory for single-family homes rose on a year-over-year basis for the

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Top broker Tamir Shemesh out at Serhant

Tamir Shemesh, a top-producing Manhattan broker, has been terminated from Serhant, the brokerage confirmed to The Real Deal. The reasons for Shemesh’s termination, which comes just over a year after he and his four-person team joined Serhant from Douglas Elliman, were unclear. The broker’s personal page on Serhant’s website was inaccessible as of Wednesday morning. Shemesh could not immediately be reached for comment. It’s the broker’s third abrupt exit in recent memory. Shemesh joined Serhant

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520 Park Avenue unit sells for $22M in rare resale

A full-floor unit at Zeckendorf Development’s 520 Park Avenue has sold in a rare resale. Unit 23 closed today for $21.5 million to an unknown buyer, according to Casa Blanca managing director Louis Buckworth. The deal for the 23rd-floor unit marks the third resale transaction in the building and the first to go for more than the sponsor sale. The unit sold for just over $20 million in 2018, according to property records, to a

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Manhattan’s luxury market stuck in holiday hangover

Manhattan’s luxury market is still dealing with a holiday hangover. The borough saw 15 signed contracts for the fifth week in a row to record less than 20, according to Olshan Realty’s weekly report of homes asking $4 million or more. The most expensive home to enter contract last week was PHA at 10 Riverside Boulevard, known as GID Development’s One Waterline Square, with an asking price of $27 million. The 6,500-square-foot condo has five

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What CoStar – and resi brokers – could get from a Move acquisition

CoStar Group’s potential deal with Rupert Murdoch’s News Corporation for Move Inc. could mean major changes for stakeholders and brokers alike. The commercial real estate behemoth has spent more than $2 billion on residential real estate deals over the last decade, beginning in 2014 with Apartments.com and later acquiring Homesnap in 2020 to launch Citysnap as a competitor to Zillow’s StreetEasy brand. But it’s still missing a crown jewel like Move’s Realtor.com. A regulatory filing

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StreetEasy comes for sellers’ leads

StreetEasy will soon launch a trio of products designed for sellers in a play to pass those leads onto brokers and corner the most valuable part of the lead-generation market. The Zillow-owned company is set to release a real-time data platform, a concierge service to connect with agents and a dashboard to track estimated home value, nearby sales and calculate closing costs. The new features will roll out for sellers’ use from February through March.

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Brokerage bloat: Analysis ranks Compass, Anywhere among least efficient

Compass and Anywhere are among the least efficient publicly traded residential brokerages, an analysis by Mike DelPrete has found. As residential brokerages look to cut costs, those two may have to make the deepest cuts, the influential real estate tech observer concluded. DelPrete, a scholar in residence at the University of Colorado Boulder and an investor in real estate startup Side, looked at how brokerages’ revenue compared with their operating expenses. He found eXp to

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Central Park Tower condo tops Manhattan luxury contracts

A condo in the world’s tallest residential building topped the Manhattan luxury market last week. The priciest contract recorded last week was for Unit 114 at Extell Development’s Central Park Tower with an asking price of $63.5 million, according to Olshan Realty’s weekly report of homes asking $4 million or more. The 7,000-square-foot unit at 217 West 57th Street has five bedrooms and five and a half bathrooms. It also has a 1,550-square-foot living room

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