Images of The Huron and Kayla Lee of SERHANT | Interior photos by Donna Dotan
In presidential election years, many buyers and sellers often hesitate, weighing the decision to proceed with a transaction against the uncertainty of the next president. However, as the 2024 presidential election approaches, luxury properties in Manhattan have seen what Fox Business refers to as “a pre-election bump.”
Historical analysis indicates that home values are often influenced more by factors beyond presidential elections, a trend that appears to be reflected this year as well., Chairman and CEO of Naftali Group, notes that while developers and banks were cautious in the immediate aftermath of COVID-19, there is a growing sense of confidence in the market now.
Historical analysis indicates that home values are often influenced more by factors beyond presidential elections, a trend that appears to be reflected this year as well.
In this article:
But while supply was limited in the immediate post-pandemic years, demand was not and still isn't. Mr. Naftali observes that "People want to buy and they want to buy a good product [but] there is not much inventory of a good product." Indeed, CityRealty data shows a total of 282 Manhattan contracts signed from October 28 - November 3, 2024. These included the five-bedroom at the Naftali Group-developed 255 East 77th Street, which was asking $7,650,000 in the sixth-highest deal of the week.
However, as election jitters begin to sink in, last week saw a 20% dip in activity week-over-week. Nevertheless, several were ultra-luxury property trophy deals including the five-bedroom Residence #7B at the Naftali Group-developed255 East 77th Street, which was listed at $7,650,000, making it the sixth-highest deal of the week.
However, as election jitters begin to sink in, last week saw a 20% dip in activity week-over-week. Nevertheless, several were ultra-luxury property trophy deals including the five-bedroom Residence #7B at the Naftali Group-developed255 East 77th Street, which was listed at $7,650,000, making it the sixth-highest deal of the week.
“Buyers in the New York market are very educated. Good product is selling well, and there is not much inventory of a good product” – Miki Naftali
The Surrey Residences, #14C (Douglas Elliman)
For the second time this fall, The Surrey Residences was home to New York's top contract approximately two weeks after it last held that status. Residence #14C was asking $11,000,000. Located on one of the uppermost residential floors, this split two-bedroom home features a gracious entrance gallery, a large corner Great Room, and a private terrace.
While the apartment also offers a bespoke eat-in kitchen, the unidentified buyer will enjoy access to Casa Tua, the Italian restaurant in the hotel, as well as the hotel's spa and fitness center. This deal brings the building to over 60% sold.
While the apartment also offers a bespoke eat-in kitchen, the unidentified buyer will enjoy access to Casa Tua, the Italian restaurant in the hotel, as well as the hotel's spa and fitness center. This deal brings the building to over 60% sold.
Further downtown, four of the top ten contracts of the week took place in Tribeca. These included Residence #3A at Diamond on Duane, which trailed the top sale with a $10,995,000 ask, and the first contract signed in the newly converted and launched 62 Reade Street. Residence #3 was asking $7,000,000 in the ninth-highest deal of the week. The four-bedroom apartment is located in a restored and converted Italianate building dating back to the 19th century, but boasts such modern luxuries as a gourmet kitchen with state-of-the-art appliances, a spa-like primary bath with walk-in rain shower and soaking tub, and an in-unit washer/dryer.
A borough away, a total of $16,545,000 across seven deals was signed at The Huron, the two-towered, Morris Adjmi-designed condominium on the Greenpoint waterfront. These included Penthouse #AW, which was asking $6,000,000. The Real Deal reported that it closed for $5.7 million in an all-cash deal, but it has not yet been recorded by the city. It can be confirmed, though, that this penthouse deal has surpassed Greenpoint’s previous record-holder, an apartment at West Greenpoint Lofts that closed for $5.6 million in December 2021.
Penthouse #AW spans over 2,300 interior square feet and offers a total of 192 square feet of private outdoor space across two balconies. Floor-to-ceiling windows look out on views of the Manhattan skyline, and interiors feature an open-plan Great Room, a kitchen with a large eat-in island and integrated Miele appliances, and a king-sized primary suite with walk-in closet and spa-like en suite bath.
The Huron, #PHAW (Serhant)
Kayla Lee of Serhant, who is head of sales at The Huron, reports that buyers have been drawn to the building's "industrial-chic" design and windows. Additionally, apartments facing west towards the East River and the Manhattan skyline are moving the fastest.
Wherever residents of The Huron live in the building, they enjoy access to 30,000 square feet of residential amenities of such volume and variety that Ms. Lee says, "You feel like you never have to leave." The indoor pool and sauna have proven extremely popular; the building's lounge has served as an event venue; and those who work from home make the most of the building's coworking space with soundproof pods that create a “library-quiet” environment.
Wherever residents of The Huron live in the building, they enjoy access to 30,000 square feet of residential amenities of such volume and variety that Ms. Lee says, "You feel like you never have to leave." The indoor pool and sauna have proven extremely popular; the building's lounge has served as an event venue; and those who work from home make the most of the building's coworking space with soundproof pods that create a “library-quiet” environment.
Saltwater lap pool (Donna Dotan)
"There is always something fun going on at the building, and you feel like you never have to leave" – Kayla Lee, SERHANT, on The Huron's amenity package
Lounge with East River views
Indeed, Ms. Lee notes that Greenpoint as a whole is "in full growth mode." The Greenpoint Landing mega-development promises new retail, restaurants, and supermarkets for the neighborhood, which is already home to vibrant dining and nightlife along Manhattan Avenue and Franklin Street. Additionally, the Greenpoint ferry stop allows for a scenic connection to Manhattan.
Less than a mile from The Huron, two of the eight units at 177 Greenpoint Avenue
entered contract last week. Both one-bedroom units feature flexible floor plans that allow for two-beds, dedicated home offices, private outdoor space, floor-to-ceiling triple-pane windows, kitchens with Leicht cabinetry and integrated high-end appliance packages, in-unit laundry, and smart home capabilities.
177 Greenpoint Avenue's less than charming exterior
While nowhere near the amenity offerings of The Huron, each unit at 177 Greenpoint Avenue comes with dedicated storage space. Another perk of this building is an address two blocks from the Greenpoint G and close to popular dining, retail, and nightlife as well as local services and conveniences.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
#9. 62 Reade Street, #3
Last Ask: $7,000,000
Tribeca | Condominium | 4 Bedrooms, 3.5 Baths | 3,068 ft2
62 Reade Street, #3 (Corcoran Group)
#7. Lantern House, #PH1015
Last Ask: $7,395,000 (-4.6%)
Chelsea | Condominium | 3 Bedrooms, 3 Baths | 2,153 ft2
Lantern House, #PH1015 (Corcoran Sunshine Marketing Group)
255 East 77th Street, #7B (Compass)
From the Listing:
Residence 7B at 255 East 77 offers a rare five-bedroom layout on the Upper East Side, designed with both elegance and versatility in mind. The gallery foyer, ideal for showcasing art, leads to an expansive living and dining area that opens onto a spacious terrace, perfect for seamless indoor-outdoor living. Each of the five well-proportioned bedrooms features an en suite bath and generous closet space, while the primary suite includes a walk-in closet and a luxurious five-fixture bath. Additionally, a flexible bedroom near the living room doubles as a library. A chic powder room completes this thoughtfully crafted residence. See full details here.
Residence 7B at 255 East 77 offers a rare five-bedroom layout on the Upper East Side, designed with both elegance and versatility in mind. The gallery foyer, ideal for showcasing art, leads to an expansive living and dining area that opens onto a spacious terrace, perfect for seamless indoor-outdoor living. Each of the five well-proportioned bedrooms features an en suite bath and generous closet space, while the primary suite includes a walk-in closet and a luxurious five-fixture bath. Additionally, a flexible bedroom near the living room doubles as a library. A chic powder room completes this thoughtfully crafted residence. See full details here.
255 East 77th Street has 8 public availabilities from $3,450,000.
Central Park Tower, #65N (Extell Marketing Group)
From the Listing: This north facing two bedroom, two-and-a-half-bathroom residence is located at an elevation of over 675 feet and features direct views of Central Park from every room in the home. Floor-to-ceiling glass spanning the entire residence, allows for an abundance of natural light.
The formal entry foyer opens to a great room featuring soaring ceiling heights of 10’7". The split bedroom layout provides for privacy and comfort with en-suite bathrooms as well as a separate powder room. The gourmet kitchen features custom cabinetry by Smallbone of Devizes and premium Miele appliances. See full details here.
The formal entry foyer opens to a great room featuring soaring ceiling heights of 10’7". The split bedroom layout provides for privacy and comfort with en-suite bathrooms as well as a separate powder room. The gourmet kitchen features custom cabinetry by Smallbone of Devizes and premium Miele appliances. See full details here.
Central Park Tower has 10 availabilities from $13,900,000.
#3. One High Line, #WEST12C
Last Ask: $8,950,000
Chelsea | Condominium | 4 Bedrooms, 4.5 Baths | 2,891 ft2
One High Line, #WEST12C (Corcoran Sunshine Marketing Group)
Diamond on Duane, #3A (Compass)
From the Listing: Spanning over 5,498 square feet, this prewar loft combines historic charm with modern craftsmanship. The residence features 14-foot ceilings, original cast iron columns, a 75-foot wall of arched cathedral windows, recessed lighting, and wide-plank ash floors.
Entering through the gallery, you are welcomed into the expansive 64’ x 49’ open-concept great room, perfect for entertaining. Adjacent is an eat-in custom kitchen by Minotti Cucine, featuring a large island and high-end appliances from Gaggenau, Sub-Zero, and Miele. The space also includes a spacious media room with a wet bar, custom built-ins, and a 100-inch dropdown projector. See full details here.
Entering through the gallery, you are welcomed into the expansive 64’ x 49’ open-concept great room, perfect for entertaining. Adjacent is an eat-in custom kitchen by Minotti Cucine, featuring a large island and high-end appliances from Gaggenau, Sub-Zero, and Miele. The space also includes a spacious media room with a wet bar, custom built-ins, and a 100-inch dropdown projector. See full details here.
Diamond on Duane has 1 public availability for $2,350,000.
#1. The Surrey Residences, #14C
Last Ask: $11,000,000
Park/Fifth Ave. to 79th St. | Condominium | 2 Bedrooms, 2.5 Baths | 2,127 ft2
The Surrey Residences, #14C (Douglas Elliman Real Estate)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
