Dear Friend, 

Seasonally, the Spring market is historically the most active—but not so fast. This Spring we are seeing a lull in volume and a decrease in prices across nearly all market segments.
However, now is a great time to upgrade or purchase a first home or investment property.
Also, as mentioned below, the Belnord on West 86th will commence sales soon. I have an opportunity to bring in buyers early at discounted pricing.
Please reach out with any real estate questions.

Dan Fishman
Wall Street Journal Top Broker
Currently Listed with Dan Fishman
145 Central Park West Apt. 21C
As Featured in the NY Post , Architectural Digest among Others
Unparalleled views from the crown jewel of Central Park West. Rarely does an apartment in the San Remo's iconic towers become publicly available--an opportunity not to be missed. This sprawling mint condition full floor apartment with unsurpassed views from every room in every direction has been masterfully restored, reviving the elegance of the San Remo's original details with the comforts of modern living. 
Market News
Belnord Condos Hitting the Market
This grand old Upper West Side building on 86th Street is revitalized and soon coming to market. Please contact me directly for early access and pre-market pricing. 

The New Normal in NYC Real Estate
New York City’s real estate market has long been a safe haven--though there seems to be change in the air.

Events Around Town
Orchids in NYC
The 16th annual Orchid Show at the New York Botanical Garden is designed by Belgian floral artist Daniel Ost who's kaleidoscopic sculptures and displays celebrate the complex beauty of the stunning blooms.

Frieze Art Fair
View and buy art from more than 1,000 of today’s leading artists and experience a curated program of talks, performance and new artist commissions.

Key Findings of the First Quarter Report: 

·        First Quarter saw buyer hesitancy in the market: This initial hesitancy was due to several market factors: continued uncertainty regarding tax reform, volatility in the financial markets, increasing interest rates and buyers waiting for prices to decline.
·        Market-wide closed sales decreased 11% and contracts signed decreased 10% compared to last year: Fewer new developments came on the market in the First Quarter compared to last year. There was a 20% decrease in the number of buildings delivering units in the First Quarter vs. First Quarter 2017.
·        Resale co-ops were the one product type that had an increase in sales: Resale co-ops in the First Quarter rose 2% vs. last year. A 14% quarterly increase in co-op inventory.
·        Manhattan market-wide prices declined in First Quarter 2018 vs. First Quarter 2017: Median sale price decreased 2% to $1.1 million. Average sale price decreased 10% to $1.9 million. Fewer high-end new development sales closed this quarter compared to last year, which helped skew market-wide prices downward.
·        Inventory rose 10% market-wide this quarter to 6,418 units: This was the ninth consecutive quarter of increased inventory. Inventory increased across all property sizes (studios – 4+ bedrooms). Co-ops increased the most, up 14%, and resale condos increased by 9%. 
I am delighted to share with you our  Q1 Manhattan Report where you will find a detailed analysis of residential real estate sales that closed in Manhattan in Q1 2018 (January 1st through March 31st).

For those of you in Brooklyn, you can find our Q1 2018 Brooklyn report here .
Dan Fishman
The Corcoran Group
Platinum Council
In this ever-changing city, consistency is key.