Manhattan Market Intelligence

News emerged this week that the former Pfizer headquarters will be converted into 1,500 rental apartments , marking New York City’s largest office-to-residential conversion to date. This project is being led by Metro Loft Developers, who are also managing the conversion of the former Goldman Sachs headquarters at 55 Broad Street into 570 apartments. Nearby, 20 Broad Street , previously an annex for the New York Stock Exchange, has already been converted into 500 luxury renta

With 90-degree temperatures expected for NYC through this weekend, it's crucial to focus on staying cool as the summer heat intensifies. The 12 percent rate increase by Con Edison over three years doesn’t make it easier, but fortunately, there are several effective strategies to keep cool and save on energy costs. Maintaining your AC unit is essential for its efficiency. Regularly cleaning your AC filter ensures that cold air keeps flowing. Proper insulation around your A

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