Manhattan Market Intelligence

To get a home camera ready, follow these 13 steps focusing on deep cleaning, decluttering, and staging. The goal is to create a bright, spacious, and welcoming atmosphere that allows potential buyers to envision themselves living in the home. General and overall Deep clean everything. Polish every reflective surface—especially oversized windows, stainless appliances, and hardwood floors. Manhattan buyers notice streaks against skyline backdrops. Don’t forget to dust radiato

Five Proven Tips to Sell Your NYC Apartment or Townhouse for the Highest Price Selling a home in New York City is unlike anywhere else. Whether you’re preparing to list a condo, co-op, or townhouse, success comes down to pricing smart, presenting the property beautifully, and marketing it to the right buyers. Here are five expert tips to help you achieve the highest possible sale price: 1. Price Strategically with Local Market Data In NYC, buyers study comparable sales obsess

New York City’s Fairness in Apartment Rental Expenses (FARE) Act went into effect yesterday after a federal judge declined to block its implementation. Passed by the City Council in November 2023 by a 42–8 vote, the law now requires landlords to cover broker fees when they hire an agent — relieving renters of the cost unless they’ve hired a broker themselves. This marks a major shift in a city where broker fees often run as high as 15% of annual rent. For renters who move f

A few of you responded to last week’s email asking why someone would consider a co-op over a condo, given the challenges with board approvals. Number one, you can usually get a much better price per square foot on a co-op versus a condo . However, there are pros and cons to both. In addition to being less expensive than condos, another benefit of co-ops is they typically have lower closing costs . Yet the flipside is they require a larger down payment and lenders tend to shy

New York’s 2026 state budget introduced a major shift for the city’s housing landscape—the Affordable Housing Retention Act (AHRA), a provision that reopens the door for rental-to-condo conversions under more flexible terms. While the bill is aimed at preserving affordable housing and expanding homeownership, it also holds interesting implications for today’s market dynamics. At the heart of the AHRA is a return to the pre-2019 rule that allowed landlords to convert rental

Everyone wants a piece of the NYC real estate pie—and many are going to great lengths to get it. For first-time buyers, owning property in the city is no small feat. While the market has always been competitive, it’s becoming increasingly difficult to assess exactly who is buying. Some properties are purchased through LLCs to preserve anonymity, masking key demographic details about who holds the keys to the city. But one trend is coming into clearer focus: the growing infl

In a significant turn of events, Wynn Resorts and Related Companies have officially withdrawn their $12 billion proposal to build a casino at Hudson Yards, citing persistent community opposition and the complexities of rezoning the site. This move marks a turning point in New York City’s casino race and underscores the challenges of introducing large-scale entertainment venues into densely developed residential areas. While the proposed casino promised economic benefits s

Despite headlines dominated by high interest rates and economic uncertainty, the American housing market continues to demonstrate its long-term resilience—and profitability. According to a recent Realtor.com report, the total value of residential real estate in the U.S. has surged by $3.2 trillion over the past year , reaching a record $47.5 trillion. That’s a 7.2% increase from February 2023 to February 2024, with nearly 60% of that gain driven by the luxury segment. Equa

PropertyShark has released its Q1 2025 report on NYC’s Top 50 Most Expensive Neighborhoods , and there were a few notable shakeups. Tribeca—typically a fixture in the top 3—slipped to the #4 spot, edged out by a surprising return from Little Italy, which claimed #2 with a $4.6M median sales price. Little Italy hadn’t appeared on the list since Q2 2024 due to low sales activity, but this quarter's resurgence may be a one-off, driven by a pair of high-priced NoLiTa sales: one

In a market that has consistently demonstrated resilience, New York City real estate is once again showing signs of stability. Since before the pandemic, we’ve weathered cycles of highs and lows—with buyers and sellers alike trying to navigate the waves without incurring losses. Early on, buyers capitalized on record-low interest rates, driven by pent-up demand as the city cautiously reopened. Then came surging inflation and the Fed’s sharpest rate hikes in a generation, caus

In the early 2000s, it wasn’t unusual for foreign investors to pour into the New York real estate market, buoyed by favorable exchange rates and a strong appetite for U.S. assets. But recently, that trend has taken a sharp turn. According to the National Association of Realtors, international buyers purchased just 54,300 existing homes nationwide over the past year—a 36% drop and the lowest level since 2009. The total dollar volume also fell to $42 billion, down 21% year o

With all the back-and-forth on tariffs, many people are feeling hesitant about making moves with their portfolios or real estate investments. After a sharp drop in the stock market earlier this week, markets appeared to rebound slightly yesterday following President Trump’s surprise announcement of a 90-day tariff pause in the ongoing trade war. This so-called “timeout” may have been prompted by advisors urging Trump to ease off his most stringent tariffs in order to avoid wh

The newly released Q1 2025 Manhattan Apartment Market Report reveals a sharp 29% year-over-year increase in apartment sales, with the total dollar volume soaring to $5.7 billion—up 56% from the same period in 2024. This dramatic growth was fueled largely by the luxury sector, as high-net-worth individuals turned to real estate as a safe investment amid market uncertainty. Several key factors contributed to this surge: Falling mortgage rates : Between May and October 2024, mo

The latest inventory report shows that Manhattan’s supply of apartments for sale dropped to 6.9 months in March, creating a bit of a spring sales gridlock. While activity has picked up, it hasn’t reached the pace we typically expect this time of year. Brown Harris Stevens CEO Bess Freedman suggests that uncertainty around potential tariffs from the new administration, combined with broader economic concerns, may be contributing factors. Despite the slowdown, Freedman remain

Rents are climbing once again, with Manhattan’s median rent rising 6.4% year-over-year to $4,500. This marks the fifth consecutive increase across the Manhattan, Brooklyn, and Queens rental markets—an unusual trend for February, typically a slower period. However, bidding wars have continued to drive prices higher in both Manhattan and Brooklyn. The luxury sector has also seen a sharp uptick , with median rent jumping 8.4% to $10,600. The price per square foot is now at a re

With interest rates declining for the sixth consecutive week—bringing the average 30-year fixed rate down to 6.67%, its lowest since October— mortgage applications have risen by 7% , with weekly demand surging 11%. As homebuying season gains momentum, sellers responding to this increased demand should carefully price their homes to attract buyers and minimize time on the market. John Walkup, co-founder and partner at UrbanDigs Analytics, recently shared insights on pricing ho

Some of you may have heard about Local Law 97, a key piece of NYC legislation enacted in 2019 to reduce greenhouse gas emissions from buildings , which account for about 70% of the city’s total emissions. The law requires buildings over 25,000 square feet to cut emissions by 40% by 2030 and 80% by 2050. The first compliance period (2024-2029) is already underway, requiring owners to upgrade insulation, heating, and cooling systems—or face fines. While the law promotes sustain

You might recall that last week I mentioned how buyers are increasingly favoring new developments over traditional co-ops on prestigious NYC addresses. Since it’s been a few years since I last covered the pros and cons of co-ops vs. condos, I thought now—on the cusp of an active spring market—was the perfect time to revisit the topic. One of the most common questions I get is: Why would someone choose a co-op over a condo, given the challenges of board approvals? The simple

A few weeks ago, I highlighted the most-searched neighborhoods on StreetEasy along with their median prices, offering insight into what to expect this spring . Now, it appears that several sought-after NYC neighborhoods—mainly in Manhattan—have seen double-digit year-over-year declines in new listing median prices . This shift has spurred an early spring rush, with buyers jumping in ahead of the usual seasonal surge to take advantage of significantly reduced prices. In Januar

New York City’s office market is showing strong signs of stabilization, rapidly returning to traditional office settings. In fact, it is leading the charge nationally , while the rest of the country moves in that direction at a slower but steady pace. Specifically, demand in New York has returned to pre-pandemic levels, driven by a push from employers for in-person attendance and an influx of new workers. Last month, Manhattan office leasing surged 24% , following a 25% year-