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Compass, Elliman rule over Soho, Noho resi deals
Top two and Corcoran booked more than half of sales around Houston Street
Compass was unflappable last year to the north and south along Houston Street, where the firm took the top spot in our ranking for home sales in the Soho/Noho neighborhoods.
The firm booked more that $320 million in volume across 86 deals in 2022, followed closely by Douglas Elliman with over $314 million in volume in 71 transactions. The Corcoran Group rounded out the top three with nearly $262 million in volume across 80 deals.
Those three firms — which also claimed the top spots among The Real Deal’s ranking of Manhattan brokerages by volume last year — scooped nearly 55 percent of all home sales in the area.
To measure brokerages’ success in selling homes in the Soho/Noho area, TRD tapped into the dataset of 58,000 deals from 2022 used in our citywide brokerage ranking, looking specifically at sales in those acronymic neighborhoods flanking Houston Street, as well as Little Italy, Hudson Square and the trendy enclave of Nolita.
The highest concentration of deals — and volume — was in Soho proper. The $753 million in sales south of Houston accounted for nearly 46 percent of all volume for the Soho/Noho area. Hudson Square had the second-most volume, with over $379 million, or 23 percent of the total.
Noho had just 19 percent of total volume, but its 71 deals racked up the area’s highest average price of $4.36 million. The average price for the whole area was $3.74 million.
As is the case elsewhere in Manhattan, Corcoran dominated the Soho/Noho area in new development sales, booking $112 million in sponsor sales in 41 deals within a single building, 110 Charlton Street. Its nearest rival in that market segment, Douglas Elliman, booked just short of $78 million in volume across 12 deals.
New development deals accounted for less than 24 percent of sales volume in the area, while resales made up more than $1.25 billion of the area’s $1.65 billion in home sales.
Though only making seventh on the list, Casa Blanca Real Estate deserves special mention for achieving that rank with only two deals — one of them being the $36 million sale of a Soho penthouse at 20 Greene Street, which set a record for a non-doorman building.
This is one of the hundreds of data sets available on TRD Pro — the one-stop real estate terminal for all the data and market information you need.