In 2022, there was definitely life East of Sepulveda.
Lot sales hit new, unprecedented highs. (Big steps, not incremental.)
We saw new construction go over $5M.
Here's our look at the high sales in East Manhattan for 2022.
You can also review our wrapup on the Tree Section (highs and lows) and the Sand Section (highs and lows).
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Please Note: The properties below were listed and brokered by a variety of agents and firms, not Dave Fratello or Edge, unless noted. Click on any image or linked address for full details. The name of the listing broker and agent for each linked property is displayed with each listing.
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New Construction Division
1618 11th Street (7br/7ba, 5007 sqft.)
This is pretty elegant new construction, quite close to the Manhattan Heights park.
It's not just a big house, there's a guest house as well.
The attractive package only hit one official DOM on the MLS, meaning it was a sale arranged pre-market. (Relatively common with new construction.)
Sold for $5.475M in February 2022.
(Listed by Kristen Novoa of Vista Sotheby’s International Realty.)
1560 1st Street (6br/6ba, 4650 sqft.)
This one's on a corner near Mira Costa, set wide across its lot with a big setback, and a resulting somewhat smaller yard than you might expect on a 7500 sqft. lot.
Then again, the wide, sprawling floorplan is just different enough to register. You are more likely to see stately homes with a wide-but-not-deep layout like this in other parts of the country.
Here they didn't even aspire to the top price in town, but did list for $5.289M to start. They had to come down somewhat to sell.
Sold for $4.750M in October 2022.
(Listed by Joseph Nuzzolo of Thompson Team Real Estate, Inc.)
1535 Nelson Avenue (5br/6ba, 4750 sqft.)
This home has a much more traditional front-to-back floorplan with a big open great room in back.
Where they went over the top was in the backyard.
They added a pool, spa, waterfall feature, outdoor room, pool cabana, outdoor kitchen and pizza oven.
Y'know, some people don't get even one of those things, let alone all of them in a new house.
Sold for $4.650M in October 2022.
(Listed by Joseph Nuzzolo of Thompson Team Real Estate, Inc.)
Other Leaders
1436 5th Street (6br/8ba, 5656 sqft.)
Falling just $4K shy of the top sale (the first property here, new construx at 1618 11th), this ultra-custom, ultramodern 2019 home finished first among non-new homes.
This one also had no real market exposure, finding a buyer quickly off-market once they decided to sell.
Despite a plethora of floor-to-ceiling glass, the home somehow achieves great privacy. Oh, look, a pool, too!
Sold for $5.471M in October 2022.
(Listed by Chad Fahlbusch of Strand Hill Christies International Real Estate.)
1531 5th Street (4br/6ba, 4663 sqft.)
This 2007 modern/Mediterranean was part of a wave in 2022 of resales hitting $4M+.
In September we looked at the relatively recent trend of East MB homes finally getting over $4M.
Sold for $4.400M in December 2022.
(Listed by Linda Danis of Strand Hill Properties.)
Lot Sales Division
1460 11th Street (3br/1ba, 1074 sqft.)
Basically one year ago, in mid-Feb. 2022, they launched this modest 7500 sqft. lot just west of Peck for the modest price of $1.950M.
Little did they know?
Buyers' tolerance for high prices had grown, and scarcity of dirt had frustrated enough of them.
Boom: +$451K to get the deal done.
Sold for $2.401M in March 2022.
(Listed by Audrey Judson of Strand Hill Christies International Real Estate.)
1643 Gates Avenue (3br/2ba, 1074 sqft.)
Only two weeks after someone amazingly got $2.4M for a lot, this arguably superior plot was ready for market.
But like with 1460 11th, they went ahead and listed modestly, letting the market take care of the rest of the lifting. The $1.995M list price shot up $405K.
Sold for $2.400M in May 2022.
(Listed by Kristin Moore of RE/MAX ESTATE PROPERTIES.)
1642 10th Street (2br/1ba, 875 sqft.)
It's a story that just keeps going on.
Just two weeks after the second $2.4M lot sale in East MB, they had this one ready. They didn't overprice it, they sought $2.199M.
Only one week after listing, they had it closed for $101K more.
Sold for $2.300M in May 2022.
(Listed by Barbi Pappas of Vista Sotheby's International Realty.)
We'll add as a comment...
There were a few more lot sales that hit big numbers, but one lot sale that actually shot the moon didn't get near it. 1642 5th -- with one of the best locations of the East MB lots sold in 2022 -- launched in March at $2.600M, quite a bit higher than the newly high highs.
They got stuck, cut to $2.400M and sold for $2.200M in June.
We try to say this a lot: Start too high, and you sell for less than you should.
Manhattan Village Division
6 Cambridge (3br/2ba, 2080 sqft.)
Our clients we glad to get this rare single-level SFR in the Village.
It's actually one of the original model homes for the whole Manhattan Village development.
We were in, we were out, the first buyers quit and our clients came back, getting the property $25K under asking.
Sold for $2.475M in October 2022.
(Listed by Susan Boettner of Vista Sotheby’s International Realty.)
42 Dover Place (3br/3ba, 2041 sqft.)
This 2-level townhome (Plan 7) had a goodly number of updates.
Sold for $2.011M in March 2022.
(Listed by Vanessa Sokolsky of Harcourts Hunter Mason Realty.)
36 Dover Place (3br/3ba, 2045 sqft.)
Missing the townhome record for the year in the Village by $1K, this purchase was actually quite a bit more of an investment for the buyers.
It's an ultra-popular Plan 8, with the primary suite on the 1st floor, but completely original. Therefore, the buyer's cost is going to include much more updating than the "top" sale at the neighbor at 42 Dover.
Sold for $2.010M in August 2022.
(Listed by Virginia Mott of RE/MAX Estate Properties.)