Rental Market Snapshot: 236 East 47th Street EXCLUSIVE SCOOP!

🔥 Coming Soon: Unit 17C - $4,500 Listed by Mandy Ostrowsky

Contact for early access and showings

Building Scoop: The Story of 21E at Club at Turtle Bay

Dear Club at Turtle Bay Community,

I wanted to share an interesting journey about apartment 21E, a property I've had the privilege of managing for the past 5 years. This story showcases the importance of strategic marketing, patience, and strong relationships in real estate.

The Background

Over the years, I successfully placed two wonderful tenants in 21E through my connections with UN missions, making the most of our prime Midtown East location. When the absentee owners decided to sell last year, we faced an interesting challenge: a tenant-occupied unit with limited showing availability.

The Challenge

• Tenant schedule allowed only one showing per week

• No Sunday open houses possible

• Unit needed updates before full market launch

• Sellers wanted a quick sale

Our Strategic Approach

Instead of rushing to market, we developed a two-phase strategy:

1. Initial Compass Private Exclusive listing phase

• Controlled showings

• Targeted marketing

• Valuable feedback collection

2. Full market launch post-tenant vacancy

The Result

Today, Unit 21E is under contract for $1,250,000 ($1,201.92 per square foot), proving that the right strategy can achieve optimal results even with challenging circumstances. The 2-bed, 2-bath, 1,040 sq ft unit found its perfect match through our patient and strategic approach.

A Note of Gratitude

I want to especially thank the building staff for their consistent professionalism and warm welcome throughout this journey. Your support made this process smooth for everyone involved.

Looking Ahead

If you're considering selling, buying, or renting in our wonderful building, I'd love to put my experience and building knowledge to work for you. Currently, I'm also excited to share that we have apartment 17C coming soon for $4500/month

Let's connect:

📱 (646) 338-4911

📧 [email protected]

🏢 Compass | 110 Fifth Ave., 3rd Fl.

Warm regards,

Mandy Ostrowsky

Licensed Real Estate Salesperson

Equal Housing Opportunity. All information current as of April 23, 2025.

Current Rental Market Overview Active Listings 

Market Analysis Studios: $2,750-$2,900 One Bedrooms: $3,900-$4,500 Two Bedrooms: $5,700-$6,400 Key Trends Strong rental demand with multiple applications pending Quick absorption rate (average 20 days on market) Premium pricing for higher floor units Mix of immediate and future availability. Investment Insights Consistent rental demand across all unit types attractive price points for Midtown East  rentals. Strong tenant interest evidenced by multiple pending applications

2025 Market Activity: A Deep Dive Current Active Sales  Listings

Unit 31F: $1,350,000 (2 bed/2 bath, 1,123 sq ft) Price per square foot: $1,202 Monthly carrying costs: $3,222

Fresh to market: 60 days on market Unit 18E: $1,289,000 (2 bed/2 bath, 1,040 sq ft) Price per square foot: $1,239 Monthly carrying costs: $2,911

Listed since December 2024 Under Contract Unit 21E: $1,250,000 (2 bed/2 bath, 1,040 sq ft)

Impressive price per square foot: $1,201.92 Monthly carrying costs: $3,050

Unit 19C: $730,000 (1 bed/1 bath, 643 sq ft) Price per square foot: $1,135 Went into contract quickly: Only 17 days on market

Recent Sales (2025)

Unit 11A: Closed at $710,000 (April 2025) 1 bed/1 bath, 512 sq ft Highest price per square foot in building: $1,387 Quick sale: 16 days on market

Unit 25E: Closed at $1,225,000 (April 2025) 2 bed/2 bath, 1,040 sq ft Price per square foot: $1,178 Moderate market time: 46 days

Market Trends and Analysis Price Points 

Two-bedroom units are consistently trading between $1.2M-$1.38M

 One-bedroom units showing strong demand in the $700K-$730K range Average price per square foot across all transactions: $1,244

Market Dynamics Quick Absorption:

One-bedroom units are moving quickly, averaging just 16-17 days on market

Strong Value Retention: Price per square foot remains stable, averaging $1,220 for active listings

 Steady Monthly Costs: Monthly carrying costs range from $1,259 to $3,238, typical for a full-service Manhattan condominium Investment Perspective

The building shows strong market fundamentals:

Consistent pricing across similar unit types Healthy transaction volume in 2025 Mix of both quick sales and strategic pricing adjustments Maintained value per square foot above $1,100 across all unit types Looking Ahead With two units currently under contract and two active listings, 236 East 47th Street continues to demonstrate steady market activity. The building's prime Midtown East location, combined with its range of unit sizes and price points, makes it an attractive option for both end-users and investors in the Manhattan market.