Manhattan Market Intelligence

Despite a relatively slow month, the luxury market performed moderately well in May, all things considered. New development sales in Manhattan and Brooklyn notably surpassed pre-pandemic levels. According to Marketproof, deal volume in the new development sector averaged 10 percent higher than the pre-pandemic average from 2015 to 2019. Total dollar volume increased by 18 percent, reaching $816 million. In May, there were 54 new development luxury deals. Of these, 53 were

The latest report from the National Association of Realtors (NAR) shows that pending home sales dropped by 7.7 percent in April. This decline is the steepest in three years and marks the lowest level since the start of the pandemic. Economists were expecting sales to remain unchanged from the previous month, making this decline a surprise. What doesn’t come as a surprise is that high mortgage rates remain the primary factor keeping buyers on the sidelines, despite April sale

I hope you had a wonderful Memorial Day holiday weekend. With summer here, albeit unofficially, it's the perfect time to enjoy more outdoor activities. In New York, private outdoor spaces have always been highly sought after, and their desirability has only increased post-pandemic. Balconies, terraces, and private gardens remain at the top of many buyers' "must-have" lists. Private outdoor spaces offer numerous lifestyle benefits and significant financial advantages. Apartmen

Last week, I highlighted some benefits of homeownership, particularly given NYC's exorbitantly high rents. Reportedly, only 5 percent of apartment rentals are affordable on the average local worker’s salary. Some of you expressed interest in buying a home but had concerns about upfront costs, maintenance fees, taxes, and other expenses. To address these considerations, there are several financial tools available to help weigh the costs of buying versus renting. Fortunately,