Hi!,

A Steady Start to the New Year

Market Pulse: Cautious Confidence Across NYC

• 2026 has opened with steady activity and cautious confidence across Manhattan and Brooklyn
• Buyers remain selective, but well-priced, quality listings are moving
• Inventory is very tight, as many sellers delayed listings or pulled back toward the end of 2025
• Higher borrowing costs continue to influence affordability and buyer behavior
• Pending sales closed out 2025 at or slightly below 2024 levels in several segments

High-End Sales Continue to Set the Pace

• NYC’s luxury sector continues to anchor the market
• Manhattan recorded nearly $12B in luxury sales in 2025, with momentum carrying into January
• Buyers at $4M+, many paying cash, remain decisive when the right property becomes available

Rental Pressure Remains Elevated

• Rents remain historically high, driven by limited supply and strong demand
• Manhattan: Median rent: $4,750 (+13.1% year-over-year) and Average rent: $5,686, a new high

Tip of the Month: Mortgage Broker Tips from Zack Tolmie from Citibank - see below

If you’re thinking about your next move, the LivNY Team is here to offer thoughtful, strategic guidance tailored to your real estate goals.

360 Central Park West #8A/9A

Upper West Side | Condo

4 beds | 2.5 baths

$6,995,000

View listing →

4621 Waldo Avenue

Fieldston | House

6 beds | 6.5 baths

$4,995,000

View listing →

360 Central Park West #15C

Upper West Side | Condo

2 beds | 2 baths

$3,995,000

View listing →

54 MacDougall St #1

SoHo | Condo

2 beds | 2.5 baths

$3,995,000

Represented Buyer

View listing →

67 East 11th St #205

Greenwich Village | Coop

1 bed | 1 bath

View listing →

Tip of the Month: Mortgage Broker Tips from Zack Tolmie from Citibank

I’m a cynical pain in the butt. However, I love that people are able to reframe their goals at the start of the year, and that they are ready to take action to make their goals obtainable.

We all know that self-employed buyers are qualified for a mortgage based on their tax returns. Ergo, it’s a GREAT time to remind your potential buyers that they should check in with a mortgage banker BEFORE they file their tax returns. No one wants to pay taxes, but don’t cut off your nose to spite your face. If you need to show all of your income to qualify for a mortgage loan, you should be showing all of your income.

I thoroughly enjoy reviewing drafts of tax returns to make sure that buyers have realistic expectations of what they’ll be able to qualify. If you have a client that could use a set of eyes on their draft returns (or if you yourself want to ensure you’re doing it all right), let me know!

Zack Tolmie

Sr. Home Lending Officer

Citibank, N.A.

399 Park Avenue

New York, NY 10022

Phone: (212) 559-2666

Email: zack.tolmie@citi.com

NMLS Identifier: 761651