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Are you positioned for the turn?
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Uncertainty is the table setting of a meal to come. Similarly, tariffs are simply an aperitif to that meal. As tariffs settle in (and they will at some point), the economy will reveal its identity; one we will finally understand better. Once there, the marketplace will accelerate, at which point any strategic moves might actually be too late. Wayne Gretzky achieved extraordinary success by preparing ahead; he said, "I skate to where the puck is going"…not to where it is, or has been. This marketplace is similar, you need to position yourself in advance. For some who wait for all to be crystal-clear, the moment could pass, deeming them priced-out of the market. By that time, the luxury of “clarity” will be priced in i.e. pricing will be higher. Although we might be a year out, the market is just waiting to breakout price-wise.
Manhattan Price/SqFt
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Chart shows the rolling 2-month median price per square foot for properties
above the legal minimum size. It excludes properties with missing size data.
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Over the past year, Manhattan’s real estate market has shown clear signs of improvement in deal volume, marking a positive shift from the previous period. Despite prices having remained largely flat for nearly a decade, this stability may now be signaling a price “bottom,” suggesting that values have found a floor. Meanwhile, rental prices have soared to all-time highs, prompting many renters to reconsider their options and view purchasing property as a more attractive alternative to continuing to rent.
This convergence of factors - steady demand, historically high rents, and the early stages of a significant generational wealth transfer - sets the stage for potentially substantial price increases in the coming years. Currently, the market offers a moment of relative value, presenting opportunities for buyers who act decisively.
However, uncertainty does loom, in the form of tariffs. While their impact is not immediate, tariffs could exert a significant economic influence as early as the first quarter of next year, much like the delayed effect seen with “transitory inflation”…remember that? The precise consequences for Manhattan’s real estate market remain difficult to predict, adding an element of caution to an otherwise optimistic outlook.
Manhattan Rents
| | In March, rents broke the $4,500 ceiling, and in April pushed higher, to almost $4,800. With demand still outpacing supply in terms of rental listings, expect rents to continue upward and set new records this summer as the rental season gets underway. Will this boost sales?. | | I always say: 1) 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; and 2) Who represents you matters…your best investment is often in the broker you choose; find someone with experience, who you feel you can trust. |
| * MANHATTAN MARKET NEWS * | | |
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Excerpt from The Real Deal:
The Hamptons keep getting hotter
It’s that time of year when New York City’s residential reporters turn their attention out East.
As the Hamptons’ busy season approaches, we’re keeping an eye on the rental market, home sales and new hot spots opening up across the luxury enclave. If the first quarter’s results are any indication, the South Fork is shaping up for a bustling summer.
Prices hit record highs in the first three months of the year, while deals outpaced the region’s decade-average, according to a report by Miller Samuel. Big ticket sales are already underway, including a $40 million waterfront estate in Southampton that landed a buyer last month. Read on.
| | * WHAT REPRESENTATION LOOKS LIKE * | | |
Click on each respective image to watch the video.
| | * MORTGAGE & INTEREST RATES * | | Above charts courtesy: Mortgage News Daily | | Chart Courtesy: Wells Fargo | | * MOST RECENT MARKET REPORTS * | |
"Neue Sachlichkeit /
New Objectivity"
| | Georg Scholz (1890-1945) Of Things to Come, 1922 - Oil on board | | |
The Neue Sachlichkeit movement was divided by two philosophies—the unflinching and socially critical Verists, and the Classicists, who focused on harmony and beauty.
In its Final Weeks thru May 26, 2025
This special exhibition at Neue Galerie New York debuts in conjunction with the centenary of Gustav F. Hartlaub’s 1925 groundbreaking survey of the same name held at the Kunsthalle Mannheim. The New Objectivity movement is considered one of the most significant artistic developments of the twentieth century. Hartlaub’s presentation showcased a new style of art that had emerged in the aftermath of World War I, characterized by its critical realism, social commentary, and detailed depiction of contemporary life, and marking a significant departure from Expressionism’s emotional intensity. Read more & "discover".
| | Let's Compare Lists: Eater vs. Resy | |
The Hottest Restaurants
Open Right Now
| | A spread from Maison Passerelle in Primtemps, the Parisian department store import. | Eva Kosmas Flores/Primtemps. | | |
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 May: Fedora, a reborn restaurant from the St. Jardim team in the West Village; and, Maison Passerelle, Top Chef and James Beard-winner Gregory Gourdet’s flagship restaurant inside the Financial District department store Printemps.
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
| | A dish being finished in the kitchen at Hellbender. Photo by Liz Clayman for Resy | | New to the Hit List (May 2025): Hellbender, Cafe Kestrel, Lysée, Houseman, Bungalow, Opto, Aunts et Uncles, Birdee, and Raon. See full posting here. |
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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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