The Collective Report: April 2026| Barbara Quaranta

The Starting Line... your 4-minute blast of all things NYC Real Estate and beyond: 💸 A plunge in inventory leads us to the highest median rent in NYC's history (again!) ==> 🗽 Despite a dip in international visitors, NYC tourism saw a modest uptick in 2025 ==> ⚖️ Like it or not (most likely not!), congestion pricing is here to stay as a court strikes down the administration's efforts to end it ==> 🚦 While we're on the roads... Pump the brakes!  City Hall is proposing new, lower speed limits in NYC school zones ==> 💎 After a $12.5M(!) price chop, the home once belonging to Ivana Trump is finally sold ==> 🔔 Speaking of "Golden" rental estate offerings, this once-in-a-lifetime Chelsea golden dome apartment just hit the market ==> 💃 Dancing Queen! Plans are underway in Hell's Kitchen to build a massive theater celebrating the music of ABBA  ==> 🏟️ MORE Music... Jay-Z's Yankee Stadium summer dates sold out, they added a 3rd show - Extra innings anyone?? ==>

Collective Properties:

just sold Sutton Place 300 E 59th St, Unit 2601, 10022 2 BD 2 BA $1,325,000 coming soon Harlem 543 Manhattan Ave TH, Unit TH, 10027 5 BD 4 BA 3420 SF $2,700,000

contract signed Midtown East 310 E 46th St, Unit PHG, 10017 2 BD 2 BA $1,099,000 just rented West Village 345 W 13th St, Unit 2A, 10014 2 BD 2 BA 2373 SF $25,000

By the Numbers: 2,390 The number of new subway cars the Metropolitan Transportation Authority (MTA) is seeking a manufacturer to deliver.  Amazingly, this order alone equals more cars than the Chicago Transit Authority and Massachusetts Bay Transportation Authority’s fleets combined. To further put it into context, this base order will replace 17.3% of NYC's subway cars. The new cars will significantly improve reliability with a higher distance between failures, which measures how long a car can operate without issues or maintenance.  As for which older subways are set to be replaced, the orange-and-yellow-seated cars on the numbered lines are on their last legs (umm, wheels). Don't shed a tear, there will still be plenty of time to enjoy the old cars, the new ones won’t be ready until at least 2030.

To Stay... 🏙️ The Blackstone: Downtown hotel with modern rooms, lake and park views, Mercat a la Planxa dining..==> 👀 LondonHouse Chicago: Landmark building, situated where the Magnificent Mile meets the Chicago River. ==> 🏵️ Nobu Hotel Chicago: Iconic cuisine and exceptional hospitality in a serene setting above Fulton Market’s Restaurant Row. ==> To Eat... 🇬🇷 Andros Taverna: Traditional flavors, quality ingredients, and fresh off-the-grill souvlaki in house-made pitas.. ==> 🥩 El Che Steakhouse & Bar: Every cut chosen intentionally then honored with the purity of open flame asado. ==> ⭐️ Ever: After four Michelin-starred years at Grace, Chef Curtis Duffy returns with a constantly evolving seasonal tasting menu. ==> To Drink... 🌆 Offshore Rooftop: this stunning, multi-seasonal space also boasts a world-class kitchen and full-service bar.. ==> 🍸 The Aviary: Created by Chef Grant Achatz, a sensory playground that challenges and redefines your idea of a night out drinking. ==> To Buy...

Two-story living room with fireplace, vaulted ceiling, and oversized windows opening to a rare 61-foot private terrace. $3,595,000 €3,121,143

The Parting Shot: THE NEXT CHAPTER FOR A BROOKLYN ICON

Brooklyn's storied Watchtower buildings, the vacant former headquarters of the Jehovah’s Witnesses, would be converted into hundreds of residential apartments under a proposed rezoning of the waterfront property.  The proposal by developer CIM Group, still in its early stages, would convert the office buildings into residential units, including 661 homes (165 would be deemed affordable). Sadly, it appears the iconic skybridge is not part of the plans. The sprawling complex consists of five buildings, located at 25 and 30-58 Columbia Heights in Bklyn Heights. The properties served as the HQ of the Jehovah’s Witnesses until a decade ago; before that, the pharmaceutical company E.R. Squibb & Sons housed its offices there. The site was easily identifiable from miles away due to a brightly illuminated “Watchtower” sign on its rooftop (it's since been replaced with a "Welcome" sign) The new housing would continue a transformation of the Brooklyn waterfront now decades in the making, with industrial properties giving way to high-rise apartments and recreational uses.  It also comes at a time when Brooklyn's office market is cooling, and office-to-residence conversions all over NYC show no sign of slowing down.

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Barbara Quaranta Licensed Real Estate Salesperson M: 917.428.9658 barbara.quaranta@compass.com

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