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"Finally...here we go"
(fingers crossed)
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What’s really going on? First, is anyone talking about Mayor?....uh, NO ONE! Seriously, the only people who are actually talking about him are the people who are not actually transacting in the marketplace…the spectators, the looky-loos. Those who are actually engaged, whether buying or selling, are focused at the task at hand. Now, could some issues arise that could affect the marketplace?...sure. But let’s put it into perspective. We have dealt with the financial crisis AND a pandemic and I think we are doing just fine. Does anyone think that the new mayor could be worse than those events? Anyhow, since he’s not overly relevant at this time, let’s move on.
Again, where are we. In considering both the median and average prices, we are up ~ 2% YoY. Why is that? It’s been driven primarily because of constrained inventory, down approx. 4% since last year. Although there is plenty to buy, supply is indeed at a nearly 10-year low. Particularly of interest is the new development condo inventory which has been contracting with no improvement in sight.
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Regarding the upcoming New development inventory in Manhattan, Brown Harris Stevens Development Marketing “projects an average of just under 1,300 units to come online in each of the next two years, less than the total contracts signed this past year.” That is…well…WOW. And 2025 was considered a “dull” when it comes to deal volume.
Although there is clear evidence of improvement, ever since the interest rate spike nearly four years ago, the market pulse, as exhibited in this chart from UrbanDigs, shows a market that is still in the neutral zone of “blah” activity. That said, there is tremendous optimism in the air. Unless we experience something abnormal like the pandemic in 2020, the Ukraine war and sky-rocking mortgage rates in 2022 or the anxiety of tariffs and liberation day from 2025, we are anticipated to have a very strong year.
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1) The economy is strong, led by Wall Street, which according to the NYC Comptroller’s economic/finances report is projecting bonuses to be $49.7 Billion, 8% higher than the record set in 2024;
2) There’s been a marked improvement in sentiment as a result of more favorable mortgage rates, in the low 6% range, as opposed to the 8% we saw 27 months ago;
3) Inventory should improve; sellers who have been waiting to sell for years are preparing their properties for market.
4) Mortgage applications are up. Meaning, buyers are suiting up for action.
Yes, the data tells us a mixed story with different factors favoring each side, among buyers and sellers. What that means is that the market remains quite fair…taking into consideration, of course, that “tie-goes-to-the-runner” concept I introduced last month, meaning that the chronic constrain on inventory leans the leverage in the seller’s favor.
So, both inventory and demand will improve. The question is, which force will prevail? Will supply outpace demand or demand outpace supply…we’ll see. I am betting that demand will be the stronger catalyst. One thing is for sure, increased deal activity will put upward pressure on pricing.
Let’s Go Shopping ! ®
| | Anyone interested in buying or selling, should be rolling up their sleeves to determine whether the time is right to sell or if there's a home/investment property out there for them. Who represents you matters…your best investment is often in the broker you choose; find someone with experience, who you feel you can trust. |
| It was an honor to have been invited to and participate on a panel at this years SIMED conference in Malaga, Spain. We discussed the global future of luxury...the trends and the must-have experiences demanded by the ever-growing international buyer population. Centrally located on the global map with an average of 300 days of sun annually, there are many extraordinary opportunities in this region of Andalucia, which include Marbella and Estepona. Reach out to me if you would like to learn more; we can discuss your interests, goals and specific needs. Click here to see an impressive presentation on Malaga City's growth. | | * MANHATTAN MARKET NEWS * | | |
* Coming Soon...wait for it...*
Park Avenue
| | One of the select-few truly exclusive and distinguished boutique cooperatives on all of Park Avenue..."all limestone, with double sets of Florentine-style windows and with only one five-bedroom apartment per floor"...nearly 70 feet of frontage facing Park Avenue...extraordinary volume...10’ ceilings…innumerable, large outward facing windows...four exposures...views and streams of sun and light throughout...private elevator landing and 375 sqft entry gallery, perfect for art...SE facing living room...oversized dining room...south facing library...an unusual and seductive corridor, 7 feet wide and nearly 48 feet long, perfect for art…commodious primary bedroom suite...and what was once described as a home with “six servants’ rooms, including a separate section for the butler and the second man” is now is currently 15 rooms, inclusive of 5 bedrooms, 6 bathrooms and two staff rooms...unparalleled location, in close proximity to world class restaurants, shopping, entertainment, art and culture, including the Metropolitan Museum of Art, The Frick Collection, Lincoln Center…this list goes on...COMING SOON. | | Over the past couple of months, the Hamptons have felt like a quieter but still very expensive market; contracts activity is approximately half the weekly pace as last year at this time. That said, median and average price, especially in primary townships like Southampton, East Hampton, Bridgehampton, and Amagansett, are coming off a 2025 that saw double‑digit price growth and enormous gains in the $20M+ sector. Slowly increasing inventory has now begun to outpace contracts signed. Also the “days on market” have stretched into a more normal range, at approximately 3 months. Buyers are picky, but are willing to pay up for turnkey, well designed, “quiet luxury” product in top locations. Twenty-twenty-six 2026, will see an evolution in the same; no definitive resets are in the cards. We will likely see modest price appreciation rather than a spike. In the non-trophy segment, slightly elevated inventory should provide some room to negotiate. Although it probably goes without saying, the truly exclusive properties, which include waterfront properties, where global wealth, limited supply, and lifestyle value will keep the Hamptons firmly in the top tier of luxury destinations. | | Estimated Hamptons deal activity by price segment (under $4M vs $4M+) from 2023 through 2025 | | * WHAT REPRESENTATION LOOKS LIKE * | | |
Click on each respective image to watch the video.
| | Above charts courtesy: Mortgage News Daily | | * MOST RECENT MARKET REPORTS * | |
Celebrating the Year of The House
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The traditional East Asian lunar calendar marks time through a twelve-year cycle, each year represented by the animals of the Chinese zodiac: rat, ox, tiger, rabbit, dragon, snake, horse, ram, monkey, rooster, dog, and pig. First associated with the Chinese calendar in the third century BCE and firmly established by the first century CE, these symbolic creatures are believed to embody certain traits that are manifested in the personalities of people born in that animal’s year. February 17, 2026, marks the beginning of the Year of the Horse, a creature symbolizing power, strength, and vitality.
Celebrating the Year of the Horse brings together works from The Met collection to explore the horse’s enduring nature and vital place in Chinese civilization. Domesticated in prehistoric times, this animal has shaped nearly every facet of life—from agriculture and transportation to trade, warfare, sport, and entertainment. In ancient China, horse-drawn chariots transported military commanders and the social elite, while in the Tang dynasty (618–907), tall and robust horses came to embody the strength of the state and cosmopolitan spirit of the empire. In Chinese popular culture, horses are among the most celebrated animals, and in the spiritual realm they serve as noble mounts for divine guardians believed to bring joy, protection, and prosperity to the household. This presentation, featuring a range of expressive works in ceramics, glass, jade, and metal, and woodblock prints, illuminates these roles while celebrating the horse’s power, vitality, and spirit. For more click here.
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The 100 Best Restaurants
In New York City for 2025
(according to the New York Times - click here)
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Let's Compare Lists: Eater vs. Resy
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The Hottest Restaurants
Open Right Now
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Eater's Heat Map (click below) - Some of the Hottest Restaurants open right now. This list will be updated monthly.
Eater editors get asked one question more than any other: Where should I eat right now? Here, we’ve put together a map of the latest Manhattan debuts drawing NYC’s dining obsessives.
New to the list in January: Modern Thai restaurant Lalyn in Midtown; Bryant Park Asian bistro Traveler; modern American Greenwich Village spot Arvine; Vietnamese French restaurant Ha’s Snack Bar’s Lower East Side expansion Bistrot Ha; and Chinatown Korean cafe Tera.
For more New York dining recommendations, check out the new hotspots in Brooklyn and Queens.
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Hit List: Where In New York You’ll Want to Eat Right Now
| | Photo courtesy of Veselka East Village | |
ARE RESTAURANTS SPYING ON YOU?
Is it a restaurant
. . . or is it the CIA?
The show Cheers got it right: we all like to go where everybody knows our name. But how much more do we want our favorite restaurant to know about us? Read Article.
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Cookbook Author, Culinary Journalist and Food Humorist©, Rob is a Manhattan born man-about- town who writes, produces and hosts programs about food. I highly recommend his new book for Dads like myself. There is a new kind of dad, and he's doing far more domestic duty than at any time in history, including cooking. Although it's written with a sense of humor, this book is a serious resource for dads and anyone else interested in upping their game to make great tasting foo d bat home, even if they have never used a chef's knife or a roasting pan before.
Order: Short Order Dad ...A Great Gift for Dad!
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Rob is also on iHeart Radio & SPOTIFY with his ALL YOU CAN EAT podcast about delicious food, cooking and luxury travel.
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PRIVATE ONLINE COOKING CLASSES:
Ask Rob about his privates…by which he means that he offers customized cooking lessons to individuals and to groups. You learn, you laugh, and you eat well.
Now that ALL of us need to pitch in when it comes to feeding the family, I suggest picking up some serious tips from Rob. As he says, he went to cooking school so you don't have to. These sessions are fun and literally provide prized skills for upping your game. Enjoy. See Rob's intro here.
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With Partnering Worldwide, Brown Harris Stevens continues to leverage
its very productive relationships with top brokerages nationally and
internationally by inviting partners to high-light key properties in their
respective markets on BrownHarrisStevens.com, and to feature
our important properties on their sites.
Learn more.
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Brown Harris Stevens
1934 Broadway
New York, NY 10023
917-701 3907
| | | Disclaimer: The opinions and content in this newsletter are assembled solely by Roberto Cabrera (a licensed real estate broker in New York State) for informational purposes only and and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No financial or legal advice provided. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Equal Housing Opportunity. Everyone has unique circumstances and should consult the their own respective professionals. |
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