OCTOBER 2026

Dear Friends,

The Federal Reserve’s recent quarter-point interest rate increase has added another layer of uncertainty to the housing market, as mortgage rates have climbed above 7%, putting additional pressure on affordability.

Higher borrowing costs may cause some buyers to reconsider their budgets or postpone purchasing, while sellers could face a smaller pool of qualified buyers and increased pressure to price their properties competitively. However, the Fed’s rate increase does not automatically translate into higher mortgage rates, which are influenced more directly by long-term bond yields and inflation expectations. For buyers and sellers alike, realistic pricing, careful financial planning, and a willingness to negotiate will be especially important as the fall market unfolds.

Overall, September and 3Q demonstrated a Manhattan market with underlying strength and significant buyer demand, but one increasingly shaped by scarce inventory, higher financing costs, and greater selectivity. For sellers, the lack of supply continues to create an advantageous environment; for buyers, it underscores the importance of being prepared and acting decisively when the right property comes to market.

If you’re considering buying, selling, or simply want a thoughtful conversation about market timing, value, or strategy, please don’t hesitate to reach out. I’m always happy to be a resource for you.

All the best,

3Q Manhattan Residential Market Report

• In Manhattan, signed-contract count fell 13.0% year over year in Q3 2026, and contract dollar volume declined 9.9% year over year, setting a cooler tone for demand.
• New-listing count also pulled back, falling 9.9% year over year, and new-listing dollar volume declined 7.7% year over year as sellers brought fewer homes to market.
• Recorded-sale count slipped 6.0% year over year, and recorded dollar volume fell 6.5% year over year.
• Pricing was mixed, with median recorded price rising 6.7% year over year, average recorded price edging down 0.6% year over year and median contract price rising 0.8% year over year.

Median Price For Manhattan Co-ops & Condos Stuck At $1.2M in 3Q

The Manhattan median sales price for co-ops and condos remained at $1.25 million in the third quarter, the same record level as the second quarter.

Deals rose for the seventh time in eight quarters, increasing by 8 percent compared to the third quarter of 2025, according to The Real Deal market report by Jonathan Miller.

Listings fell year over year for the fourth time, a drop of 10.7 percent, with the largest declines seen in the luxury and new development markets. Luxury listings were down 14.1 percent compared to a year ago.

NYC Homes Selling Above Asking At Highest Rate In Four Years

Despite recent mortgage rate jumps, this Summer remained particularly hot for home sales in the NYC market. More than one in five (21.8%) NYC homes sold above their latest asking price this August, up from 20.5% a year earlier. In July, 25.0% sold above asking, the highest since 2022 and significantly above 19.6% in July of last year. This market heat is a result of pent-up demand from NYC buyers who have been waiting on the sidelines, in the city’s often highly competitive rental market.

Resilient demand has also been supporting contract activity. Of the 21 weeks between April and July, 18 weeks recorded year-over-year increases in new contracts, including 12 weeks with growth exceeding 10%. Contract signings peaked mid-summer, with monthly volume rising 3.6% in April, 9.7% in May, 15.7% in June, and 15.0% in July.

However, the momentum softened ahead of Labor Day following typical seasonality. In the last week of August (8/24 – 8/30), 359 homes entered contract across the city, compared to 397 in the first week (8/3 – 8/9). In total, 1,666 new contracts were signed in August, down 5.4% from a year ago. Contract volume was more stable in Manhattan with a 0.9% decline, but fell 10.9% in Brooklyn and 7.9% in Queens.

The Met Is Giving Away 70,000 Opera Tickets To New Yorkers

The new Opera for All lottery will release 10,000 free tickets a month for New Yorkers who haven’t bought a Met ticket since 2019.

You don’t need a velvet jacket, a working knowledge of Puccini or even a ticket budget to spend a night at the Metropolitan Opera this season. A new program will give New Yorkers 70,000 chances to go for free. Last week, Mayor Zohran Mamdani and the Met announced Opera for All and the opera house will release 10,000 free tickets each month during its 2026–27 season, with seats available throughout the house—not just the very last row. (Standing room is excluded, though.)

There is one catch, albeit a generous one: the lottery is for New Yorkers who have not purchased a Met Opera ticket since 2019. If you’ve never been, you’re in. If your last visit was years ago, you may be in, too.

The season includes familiar titles such as La Bohème and Macbeth, alongside Lincoln in the Bardo. The idea is to make it easier to try an art form that can feel intimidating from the outside, especially when the performance takes place in one of Lincoln Center’s grandest buildings.

The city is also spreading the word through New York City Public Schools, NYCHA, the New York Public Library, CUNY and other agencies and community partners.The 70,000 tickets amount to about 10% of the Met’s tickets for the season and the opera company has committed to continuing the program in future seasons.

Click "The Details" link to enter the lottery and you could be settling into a seat at the Met before you’ve learned how to pronounce La Bohème.

20 East 9th Street

Unit 10V

Located in the heart of Greenwich Village, The Brevoort East is a well-established, full-service cooperative known for its excellent location and extensive amenities.

Apartment 10V is a two-bedroom, two-bath home with open city views, including the Empire State Building. Enter into the welcoming foyer and notice the beautiful light and stunning open views including the Empire State Building. The living room is spacious and perfect for entertaining with a separate dining area with two exposures. The windowed galley kitchen has great counter space and lots of storage.

The two split bedrooms are both king sized with full marble baths. One of the baths could double as a guest bath. The apartment is in excellent condition, beautiful parquet flooring, thru the wall AC and abundant closet space.

The building offers 24-hour doorman and concierge service, a live-in resident manager, a fitness center, children's playroom, landscaped roof deck, laundry facilities, bike storage, additional storage and an on-site parking garage. Pets are permitted, subject to building policies.

The location is hard to beat, just moments from Washington Square Park and Union Square, with some of the city's best restaurants, shopping, cafes and transportation all nearby. Enjoy the best of Greenwich Village living in a full-service building with wonderful amenities and open city views. ASKING: $2.395M

300 East 40th Street

Unit 31C

LUXURIOUS CONVERTIBLE 2-BEDROOM WITH PRIVATE TERRACE & PANORAMIC VIEWS

Excellent Investment or 1031 Exchange Opportunity

Welcome home to this oversized, high-floor corner residence on the 31st floor of the prestigious Churchill. With beautiful river and skyline views from every room and a private terrace, this spacious home offers the perfect combination of comfort, flexibility, and investment potential.

Currently configured as a generously sized one-bedroom, the layout can easily be converted to a two-bedroom or create a separate home office. A gracious entry foyer leads into an impressive 34-foot-long living and dining area, with oversized windows bringing in wonderful natural light and showcasing the dramatic city views.

The windowed pass-through kitchen is both stylish and functional, featuring custom cabinetry, designer finishes, top-of-the-line stainless steel appliances, and beautiful Italian Carrara marble countertops, backsplash, and flooring.

The king-sized primary bedroom is exceptionally spacious, with plenty of room for additional furnishings and a comfortable sitting area. The spa-like bathroom features custom stone tile and marble finishes.

Additional highlights include a private terrace with stunning river and skyline views, deep closets and custom built-ins, hardwood floors throughout, designer lighting, and a separate bar complete with a stainless-steel wine refrigerator. Washer and dryer are conveniently located on the floor.

The Churchill is a premier white-glove, full-service condominium offering an impressive range of amenities, including a 24-hour doorman and concierge, rooftop pool, two sundecks with panoramic views, fully equipped fitness center and sauna, resident lounge, garage, bike room, and valet, dry-cleaning, and laundry services on every floor.

The building also offers flexible condo rules with no board approval required and subletting permitted from day one , making this an excellent opportunity for investors, end users, co-purchasers, and pied-à-terre buyers. The building is pet-friendly, with one dog under 30 pounds permitted.

Ideally located in Midtown East, just minutes from Grand Central, exceptional dining, shopping, and everything the neighborhood has to offer.

A rare combination of space, views, outdoor living, flexibility, and investment potential in one of Midtown East's most desirable full-service building, with closing costs of a coop but rules of a condo. ASKING: $1.199M

540 West 49th Street

Unit 506N

Investor Friendly!

Welcome to the epitome of modern living at 540 West 49th Street, a top-tier luxury condominium located in the heart of vibrant Hell's Kitchen. This exquisite 2-bedroom, 2-bathroom home exudes sophistication with its dynamic glass and steel facade.

Enjoy the serenity of a tranquil, south-facing home nestled on a high floor, looking into the building's furnished, planted courtyard, and offering a consistent flood of natural light through the grand floor-to-ceiling windows. The open layout seamlessly integrates the contemporary kitchen into the living area, creating an ideal space for entertainment. The sleek white open island kitchen features a Silverstone quartz counter top, imported Italian cabinetry, Bertazzoni gas range and oven, integrated ultra quiet dishwasher and integrated Liebherr refrigerator. The bedrooms are thoughtfully arranged on opposite ends of the apartment, ensuring privacy. The primary bathroom is equipped with a dual sink vanity, and is conveniently located en-suite. Additional home features include beautiful hardwood floors and an in-unit washer and dryer.

The building offers an array of top-notch amenities that cater to a variety of lifestyles. Enjoy the 24-hour full-service attended lobby, unwind in the beautifully landscaped 6,000-square-foot courtyard, or take in the city views from the furnished, landscaped roof deck. Fitness enthusiasts will appreciate the fitness center, while cyclists will benefit from the bicycle storage. Pet owners can pamper their furry friends at the pet spa.

Situated minutes away from the bustling Midtown business district and the C/E subway station, this location is a dream come true for city dwellers. Immerse yourself in the city's rich culture with nearby restaurants, cafes, Broadway theaters, and bars. This home is also an excellent choice for out-of-town visitors seeking a convenient base to enjoy all that New York City has to offer.

There is currently a 421-a tax abatement for the building, ending in 2027, whereby the monthly tax will increase to $1,985 mo. ASKING: $1.175M

1230 Park Avenue

Unit 17A

ELEGANT PREWAR IN CARNEGIE HILL

Welcome to Residence 17A, a generous one bedroom in an exceptional full-service cooperative located in highly desirable Carnegie Hill. This high floor corner apartment offers a lovely floor plan, dedicated windowed dining area, windowed kitchen and bathroom, large living room with two exposures and a very large square bedroom, also with two exposures.

Situated on a high floor, this serene home has beautiful light and glimpses of the reservoir in Central Park. You will love the prewar charm, the beautiful hardwood floors, high ceilings, and generous closet space.

The building has 24 hour doorman, live in resident manager, fitness room, bike room, laundry room cold storage and individual gated storage for rent. 70% financing permitted and 2% flip tax paid by the buyer.

Located in Carnegie Hill, close to all museums, restaurants, shopping and transportation. This opportunity should not be missed. ASKING: $695K

47-39 40th Street

Unit 1D

Jumbo One-Bedroom Co-op in a Prime Sunnyside Location

Welcome home to this spacious and charming one-bedroom, one-bathroom co-op located on the 1st floor of a well-maintained building in vibrant Sunnyside, Queens. The home is only a few steps up from the art-deco lobby.

Just 1.5 blocks from the 40th Street 7 train station, this home offers convenient access to Manhattan and everything the neighborhood has to offer. The apartment features a large open Kitchen, tons of generously sized closets, beautiful original hardwood floors, and elegant arched doorways that add character and charm throughout. The open kitchen provides a comfortable space for everyday meals and entertaining. The approximately 200-square-foot bedroom easily accommodates a king or queen-size bed along with a home office area. A wall of closets has been added for extra storage, and both the living room and bedroom overlook the serene atmosphere of 40th St.


Building amenities and features include:

• Elevator
• Live-in superintendent
• Laundry facilities
• Bike room
• Private resident courtyard
• Pet-friendly policy
• Monthly maintenance of $630.28


Located at 47-39 40th Street, Unit 1D, this one-bedroom co-op combines classic character with everyday convenience in one of Queens' most accessible neighborhoods.

Schedule your private showing today and discover the comfort and convenience of Sunnyside living. ASKING: $499K