Market Update
Manhattan's Luxury Market Hits a High Note!
Wow, fifty-five luxury deals just got signed in Manhattan, making it the best week since November 2021.
This week was a big one with 36 condos, 12 co-ops, two condops, and five townhouses all going under contract. The median asking price? A cool $6 million. Altogether, these deals added up to over $400 million, with homes snagging an average discount of 7 percent off their initial asking prices.
Based on Olshan Realty’s latest report, from May 19 to May 25, the luxury scene in Manhattan saw fifty-five contracts for properties asking $4 million and up. This is the highest we’ve seen since the big boom back in November 2021, which itself was a real standout period since before the 2008 crisis.
The luxury market is on fire right now, but those $1M - $3M homes are having a bit of a tough time. We’re keeping an eye on things to see if this buzz will spread to the rest of the market. Stay tuned for more updates!
Property of The Month
Featured this month is the newly listed 505 E 79th Street, Unit 7L—a sun-filled, classic Upper East Side 2-bedroom, 2-bathroom home that offers a south-facing balcony and the perfect blend of space, tranquility, and craftsmanship.
The residence boasts immaculate finishes and a top-tier chef’s kitchen equipped with a Sub-Zero refrigerator, Wolf oven, Miele dishwasher, and more. Additional features include hardwood floors, generous closet space, and two well-proportioned, split bedrooms that provide ideal privacy. The spacious living room flows seamlessly into the adjoining dining area, which opens onto the private balcony.
Located in the East River House, this home is ideally positioned near top public and private schools, Carl Schurz and John Jay Parks, the public library, and the post office. Everyday conveniences such as D'Agostino's, Duane Reade, Chase Bank, Starbucks, and Agata & Valentina Fine Foods are all just around the corner.
Reach out to us today to see this new listing or to ask about the possibilities for your own home.
The Right Direction: How Compass Leads the Way with Private Exclusives
At Compass, we’ve seen firsthand how the Private Exclusive program can give our sellers a real edge—especially in a market as fast-moving and competitive as New York. For clients who want to quietly start sharing their home without going fully public, it’s the perfect way to get a jump on exposure. By tapping into Compass’s nationwide network, we’re able to strategically market listings to top-performing agents who are actively working with serious, qualified buyers—often before the general public even knows the home is available. This early visibility has helped many of our sellers generate buzz, gather valuable feedback, and even secure competitive offers—all while staying in control of their timeline.
The Private Exclusive program was born out of Compass’s drive to offer smarter, more strategic options for sellers who value discretion. As the first brokerage to formalize this kind of private network at scale, Compass created a platform where off-market listings could be shared exclusively among our agents—offering sellers exposure without the pressure of a public launch. Today, the program is more powerful than ever, bolstered by the recent rollout of Compass One, which unifies agent tools and insights across the country. That means even more intelligent matchmaking between private listings and motivated buyers—regardless of zip code.
We’ve used this approach successfully for clients who wanted to build momentum early, and in many cases, it’s led to faster deals and stronger outcomes. If you're thinking of selling and want to explore your options quietly—but effectively—we’d be happy to show you how this strategy can work for you.
Al Fresco Favorites: The Best Outdoor Dining Spots in NYC
As spring settles in and the city begins to bloom, there’s no better time to dine outdoors. Whether you're looking for a covered terrace in Midtown or a quiet garden café uptown, New York has no shortage of al fresco gems. Below are our top picks for restaurants that pair sunshine—or spring showers—with sensational food.
1. La Grande Boucherie – Midtown
Located along the charming pedestrian walkway of 6½ Avenue, La Grande Boucherie brings Parisian flair to Midtown with one of the city’s most glamorous outdoor dining setups. Thanks to its ornate glass canopy, you can dine outside even on rainy spring days—surrounded by Belle Époque architecture, crisp white linens, and the aroma of French classics like steak frites and moules marinières.
2. Cecilia – East Village
If you end up wandering southeast, you might find yourself on the ever-evolving streets of the East Village, where small restaurants shift from charming to trendy to full-blown hotspots in the blink of an eye. Cecily is one of those rare places that balances all three. With rustic-chic design, seasonal plates, and tables spilling out onto a tree-lined stretch of 8th Street, it’s a must for brunch or a breezy evening out.
3. Via Carota – Greenwich Village
Still reigning as one of downtown's most beloved Italian trattorias, Via Carota delivers a classic West Village scene. Outdoor tables are often booked solid, and for good reason—the pasta is impeccable, the wine list curated, and the sidewalk seating is perfect for watching the neighborhood drift by.
4. Catch NYC – Meatpacking District
Trendy and always buzzing, Catch offers a rooftop dining experience that feels like a party in the sky. Perfect for seafood lovers and scene-seekers alike, it’s a go-to for weekend dinners or sunset cocktails with a view—just be sure to book early.
5. Avra Estiatorio – Midtown West
An elegant staple for power lunches and after-work dinners, Avra’s Midtown location offers white-tablecloth Greek dining with a sprawling, flower-lined patio. It's a rare blend of upscale and inviting—ideal for when you want to impress without feeling stuffy.
6. The Loeb Boathouse – Central Park
Tucked along the edge of the lake in Central Park, The Boathouse is a serene escape right in the heart of Manhattan. Outdoor tables overlook rowboats gliding through the water, with skyline views peeking through the trees. Whether it’s brunch, a special celebration, or a spontaneous park day, this iconic spot never disappoints.
7. Tasca NYC – Upper West Side
Blending Spanish and Latin flavors with warm hospitality, Tasca brings a touch of Mediterranean flair to the Upper West Side. Its elegant outdoor seating along Columbus Avenue is perfect for a sunny brunch or sultry date night, complete with tapas, paella, and a standout wine list. A neighborhood gem with international soul and the better paella than you’ll find in any tourist-trap resturant in Spain.
8. Brasserie Cognac – Upper East Side
Just steps from Central Park and Bloomingdale’s, Cognac is a classic French brasserie with a bustling sidewalk patio and timeless charm. The croque monsieur, escargot, and chilled rosé practically demand a long, lazy lunch under the awning. It’s equally perfect for post-shopping bites or people-watching on a lively Upper East afternoon.
9. The Cantor Roof Garden – The Met Fifth Avenue
Art and ambiance collide at the rooftop of The Met, where the Cantor Roof Garden offers light bites, cocktails, and unbeatable views of the Manhattan skyline. Surrounded by sculpture and sky, it’s a truly unique place to unwind after an afternoon exploring the museum. As far as outdoor dining experiences go, it’s pure New York magic.
