Elliman, Compass fight it out around Madison Square Park

The top brokerage in the clutch of neighborhoods between 14th Street and Midtown on Manhattan’s East Side last year was Douglas Elliman, 

The brokerage beat its nearest rival, Compass, by just under 36 percent. But that was based largely on the volume of Elliman’s sponsor sales in the new developments popping across the neighborhoods of Gramercy Park, Flatiron, Kips Bay, Murray Hill and NoMad. Looking only at resales, Compass bested Elliman by nearly 23 percent.

Overall, Elliman booked over $613 million in volume in those neighborhoods in 2022 across 369 deals — almost 23 percent of the area total — well above No. 2 finisher Compass’ over $451 million in sales across 349 transactions.

They were followed by the Corcoran Group, with nearly $415 million in volume in 240 deals, Brown Harris Stevens, with nearly $275 million in volume in 205 deals, and Sotheby’s International Realty, with over $65 million in volume in 38 deals, to round out the top five.

Elliman’s overall win was largely fueled by its nearly $262 million in new development sales, which amounted to almost 43 percent of its overall volume. And much of that was from the $111 in volume it reaped selling 46 new units at Landsea and DNA Development’s Förena condo at  540 Sixth Avenue — accounting for over 18 percent of the firm’s total volume in the area.

But over 68 percent of the area’s 2022 sales volume was in resales. Looking only at those deals, the top of the ranking flips to Compass over Elliman. Compass booked just under $431 million in resales across 343 deals, versus Elliman’s over $351 million in 264 resales. The rest of the top five remain unchanged based on resales.

To measure brokerages’ success in selling homes in the area around Madison Square Park, TRD tapped into the dataset of 58,000 deals from 2022 in our citywide brokerage ranking, looking specifically at sales in the neighborhoods of Gramercy Park, Flatiron, Kips Bay, Murray Hill and NoMad.
Most of the sales volume was concentrated in Gramercy Park, with nearly $711 million, and Flatiron, with over $707million — together accounting for more than half of the $2.7 billion total for the area.

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.

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