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Q1 of 2025 showcased a resilient real estate market in NYC, despite broader economic uncertainties. Manhattan's median home price reached $1.55M in April, reflecting a 6.3% year-over-year decline, while Brooklyn's median sold price stood at $994K, marking a 2.9% annual increase. Notably, over 65% of transactions in Manhattan were all-cash deals, with the luxury segment ($5M+) seeing 90%+ cash purchases. This trend aligns with the success of the stock market in 2023-24, rising interest rates, global wealth migration, and high-net-worth buyers looking to preserve capital in a stable, tangible asset.
The rental landscape in both boroughs continued its upward trajectory. Manhattan's median rent climbed to $4,500 in April, a 5.9% year-over-year increase, setting a new record. Brooklyn's median rent reached $3,995, up 1% annually. Despite rising rents, demand remains strong, evidenced by a 19% month-over-month decline in Manhattan's average days on market.
In this issue, we delve into the latest market trends, offering insights into the factors driving the surge in all-cash transactions and the resilience of the luxury sector. We also explore the dynamics of the rental market, highlighting neighborhoods experiencing significant growth. Additionally, we feature curated selections of new dining establishments, trendy bars, and cultural events to enrich your June in the city. Enjoy the links below and Happy Memorial Day!
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Manhattan
Condo & Co-op Report: April 2025
In April 2025, Manhattan sales rose 11% YOY and 5% versus last month to just under 1,150 contracts, 5% above the 10-year April average and the 11th consecutive annual...for more
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Brooklyn
Condo & Co-op Report: April 2025
For a third month this year, contract activity improved. Inventory also reached its highest point in nearly a year with the median price standing firm at $994K...for more
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Manhattan Luxury
$5M+ Market Report: April 2025
Manhattan luxury contracts rise and inventory declines. Days on the Market and average price per square foot fell versus 2024 while more than 90% of the luxury...for more
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NYC Residential
Rental Market Report: April 2025
In April, the median Manhattan rent again reached an all-time high of $4,800/mo, while the amount of inventory dropped on an annual basis for the 8th...for more
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53W53
Designed by Jean Nouvel
Rising 1,050 feet above Midtown, this iconic, sculptural tower features a distinctive diagrid façade and houses 145 luxury condominiums with interiors by Thierry...for more
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130 William
Bold Architectural Statement
Designed by Sir David Adjaye. Its hand-cast concrete façade and arched windows pay homage to the city's historic masonry offering a modern, luxurious living...for more
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Bar Bianchi
Milanese Inspired Apertivo
Inspired by this culture, it offers a chic atmosphere with street facing seating, perfect for sipping spritzes and people-watching. It is one of the finest...for more
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Rafs of NoHo
Parisi Bakery, Bar and Restauirant
The latest must-visit from the Michelin-starred team behind The Musket Roo, serving refined French-Italianfare in a dreamy, cloud-ceilinged space...for more
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50 W 127th St, 7B
3B2B - Harlem Condo
ACTIVE! A bright, oversized, and stunning condo with two large terraces that provide amazing 360-degree views of...for more
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807 Riverside Dr, 5B
3B2B - Washington Hts.
ACTIVE! Fully renovated pre-war 1220 SF condo with open sky views, W/D in unit, great natural light, pass-through windowed kitchen...for more
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200 E 66th St, B1702
Convertible 2B1B - UES
ACTIVE! A stunning, bright and spacious condo with private balcony, great closet space (5), a working fireplace, and open sky...for more
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140 W 69th St, 72C
Studio - Upper West Side
ACTIVE! Beautifully renovated studio with high ceilings, LOFT storage, large breakfast bar, modern kitchen & bay window, is...for more
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237 Eldridge St, 34
Studio - Lower East Side
IN CONTRACT! This amazing bright LOFT has high beamed ceilings with an open kitchen, a claw bath tub and beautiful hardwoods...for more
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50 W 127th St, 8B
2B2B - Harlem Condo
IN CONTRACT! A unique, oversized, bright, turn-key penthouse w/1334 SF and two balconies offers amazing 360-degree views of...for more
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235 W 75th St, 312
4B5B - UWS Condo
RENTED! This expansive, chic, & contemporary corner home merges pre-war charm with a modern look and feel that encompasses...for more
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458 W 146th St, 1N
3B3B - Hamilton Hts
SOLD! This is a beautiful 2,234 SF ground floor LOFT duplex located in the historic Hamilton Heights district steeped in history...for more
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125 N 10th St, NGC
1B1B - Williamsburg
SOLD! This is a fully renovated, and sun-drenched, expansive 797 SF 1 bedroom, with over 650 square feet of private outdoor...for more
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