July 2026

July 17, 2026

Market Update

The New York market entered summer 2026 on steady footing, with tight inventory continuing to support prices even as fewer homes changed hands. Per PropertyShark, June's citywide median sale price was $820,000, up 1.2% year-over-year, across roughly 1,960 transactions.

This is down nearly 15% from a year earlier, reflecting a supply shortage more than cooling demand. Manhattan held its premium position: Redfin puts the spring median around $1.4M, up 5.7%, while Douglas Elliman/Miller Samuel data shows strength concentrated at the top, with sales above $3 million up 10% year-over-year.

Rentals were the real story. Per Corcoran's June report, the median Manhattan rent hit a new record of $5,295, up 8% annually, as available listings fell 16% year-over-year and apartments rented in just 36 days. Brooklyn set its own record at $4,350. The takeaway for buyers and renters alike: inventory is tight on both sides of the market, keeping prices firm and competition brisk — so preparation and speed matter, especially if mortgage rates ease later this year as some expect.

Property of the Month

219 West 81st Street, #11G

There's a particular pleasure in a prewar apartment brought fully into the present without losing its bones, and Residence 11G makes the case beautifully.

Taken down to the studs and rebuilt, this two-bedroom, two-bathroom home pairs nine-foot ceilings and wide herringbone white oak floors with a renovation confident enough to feel quiet rather than showy. Light arrives from two directions, north and east, across a genuinely generous living and dining area.

The windowed kitchen trades prewar preciousness for restraint — quartz surfaces, open eastern views, and a detail connoisseurs will notice immediately: a range hood vented directly outdoors, a rarity in buildings of this vintage. The bathrooms lean toward the spa, with heated floors and towel warmers, and even the in-unit laundry vents outside.

What ultimately distinguishes the home, though, is the work you can't see: three-zone central air, new plumbing, new double-paned windows, and upgraded insulation that buys both thermal comfort and, just as valuable in Manhattan, silence. The prewar character is intact and nothing behind the walls is a compromise — all of it inside a full-service 1912 condominium on the corner of Broadway and West 81st, steps from Central Park and Zabar's. Reach out to arrange a private viewing.

Our Summer Ice Cream Roundup

Nothing says a New York summer like a cone in hand. Here are seven of our favorite scoops around the city:

Caffè Panna (Gramercy): Rotating flavors finished with panna, a light Italian whipped cream. Worth the famously fast-moving line.
Il Laboratorio del Gelato (Lower East Side): Around 200 flavors, from classic pistachio to olive oil and lavender.
Salt & Straw (Upper East Side): A Portland import with a new themed menu every month, often made with local collaborators.
Chinatown Ice Cream Factory (Chinatown): A family-run institution since 1977, scooping lychee, black sesame, and red bean alongside the classics.
Van Leeuwen (multiple locations): Started as a single yellow truck and grew into a beloved staple, known for rich flavors and standout vegan options.
Morgenstern's (Lower East Side): A perennial favorite topping best-of lists, with an inventive, ever-changing flavor menu.
Sugar Hill Creamery (Harlem): A neighborhood gem with playfully named small-batch scoops and seasonal flavors, open late on weekends.

Know Before You Buy:

NYC's New Pied-à-Terre Tax

A significant change landed this summer for second-home owners. The New York State Legislature approved a NYC pied-à-terre tax on May 27, 2026, as part of the state budget, effective for fiscal years beginning July 1, 2026. It's an annual surcharge on NYC homes that aren't the owner's primary residence, and it's scheduled to sunset on June 30, 2031, unless renewed.

The rollout comes in two phases. In the first phase, condos and co-ops that the city values above $1 million face rates of 4% ($1–3M), 5.25% ($3–5M), and 6.5% (above $5M), while one-to-three-family homes are covered at $5 million and up. One important nuance: the city's market values for condos and co-ops run well below actual market prices, so the $1M assessed threshold reflects a much higher real-world value.

The single deciding test is primary residence — owners who pay NYC resident income tax are exempt regardless of value. The Department of Finance will notify affected owners by August 30, 2026, with an opportunity to contest. If you own or are considering a non-primary NYC residence, it's worth a conversation with a tax professional — this column is informational, not tax or legal advice.

June 2026

June 16, 2026

Market Update

As we head into the summer season, the Manhattan and Brooklyn housing markets continue to move toward a healthier balance than we've seen over the past several years. Inventory has increased compared to this time last year, giving buyers more opportunities to explore different neighborhoods, property types, and price points.

While competition remains strong for exceptional homes, the market overall is offering a greater sense of choice and flexibility.

Well-priced, move-in-ready properties continue to attract significant interest, particularly in sought-after neighborhoods throughout Manhattan and Brooklyn. Buyers are taking a more thoughtful approach than they did during the peak of the market, but demand remains steady, especially among those looking for long-term homes rather than short-term investments.

Mortgage rates continue to influence purchasing decisions, yet New York's market has remained remarkably resilient. Cash buyers continue to represent a meaningful share of transactions, and many sellers who delayed listing over the past two years are beginning to re-enter the market as conditions become more predictable.

The result is a market that feels increasingly sustainable. Buyers have more options and greater negotiating power, while sellers continue to benefit from serious, qualified purchasers. As we move through the summer months, the overall outlook remains positive, with steady activity and a return to more normalized market conditions across the city.

Coming Soon:

440 EAST 62ND STREET #20E || $995,000

A special Upper East Side residence is about to hit the market. Located on the top floor of The Park Sutton, Residence 20E combines sweeping East River and bridge views with a thoughtful, full-scale renovation.

This two-bedroom, two-bath home has been carefully updated throughout and offers the kind of light, layout, and flexibility that buyers are always searching for. The open kitchen is designed for everyday living and entertaining alike, featuring premium appliances, custom finishes, and generous storage. Both bathrooms have been beautifully renovated, while custom California Closets, automated blinds, and upgraded systems throughout the home create a seamless living experience. The second bedroom offers exceptional versatility, functioning equally well as a guest room, home office, or both. And with open views from a top-floor vantage point, the apartment enjoys a sense of privacy and light that's increasingly hard to find.

Residents of The Park Sutton enjoy a 24-hour doorman, live-in superintendent, roof deck, garage, bike storage, and a pet-friendly atmosphere, all in the heart of Lenox Hill. More details, photography, and pricing will be announced soon. Reach out for advance information before this exceptional home officially comes to market.

WE ARE THE CHAMPIONS

KNICKS TAKE THE TROPHY FOR THE FIRST TIME IN 53YRS

Cue the Happy Tears!!! As a former athlete, I absolutely loved seeing the "Nova Knicks" connection come full circle. Watching Jalen Brunson, Josh Hart, and Mikal Bridges—who already have that championship chemistry from their Villanova days—reunite to WIN an NBA title together is the kind of sports story you just can't make up.

The city was electric this weekend! From the roar of Madison Square Garden to the energy spilling into every borough, this team captured the spirit of New York—resilient, relentless, and never backing down. After years of waiting, believing, and enduring heartbreak, Knicks fans finally have their moment.

This championship is more than a trophy; it’s a celebration of the city itself, a reminder that New York is once again at the center of the sports world. The Knicks are our reminder that New York (the greatest city in the world) still stands for what it's always stood for: determination, hope, and solidarity.

Father’s Day

Fatherhood in New York looks a little different than anywhere else. It's teaching your kids which subway line gets you there fastest, where to find the best slice in the neighborhood, and how to cross a busy avenue with confidence. It's Saturday mornings in Central Park, bike rides along the Hudson, Little League games, museum trips, and the countless routines that become family traditions without anyone even realizing it.

Living in New York means sharing a city that's constantly changing, but some things stay the same. The walk to school. Sunday bagels. The restaurant that always knows your order. The park bench where you've watched your children grow up year after year. This Father's Day, we're thinking about the fathers, grandfathers, mentors, and father figures who help shape not only our families, but our communities. The ones who show up, offer guidance, lend support, and remind us what matters most.

In real estate, we spend a lot of time talking about homes, but the truth is that a home is never just a place. It's where birthdays are celebrated, traditions are created, and memories are made. The people who fill those spaces are what make them meaningful. To all the dads and father figures in our community, thank you for everything you do.

Wishing you a wonderful Father's Day weekend!

May 2026

May 26, 2026

Market Update

The story of the past month is the top of the market. Between April 14 and May 10, 133 contracts were signed for Manhattan apartments priced at $4 million or more, and the $10M+ tier was even more striking — contracts there jumped 80% to 34.

All of this is happening against the backdrop of Mayor Mamdani's proposed pied-à-terre tax, an annual levy on non-primary residences valued at $5 million or more, which is still working its way through Albany. Worth keeping an eye on, but for now luxury buyers are clearly still buying.

Citywide the picture is more mixed. 2,386 properties closed in April, down 10.9% year-over-year, with the median price per square foot at $925. Rentals, meanwhile, are at a breaking point: Manhattan's median rent hit an all-time high of $5,099 in April, and the vacancy rate dropped to 1.55%, the lowest in over six years. What that adds up to: entry-level buyers are cautious, luxury and cash buyers are leaning in, and a lot of renters we're talking to are quietly running the numbers on buying. If you're a seller in the right price band, this is a window.

Property of the Month: 303 E 57th St. 20LA

Some apartments photograph beautifully but feel ordinary in person. 20LA is the opposite — it's the kind of home that gets better the longer you stand in it. Four bedrooms, three and a half baths, oversized soundproof windows pulling in city views without any of the noise, and a south-facing terrace that actually catches sun in the afternoon (rarer than you'd think on the Upper East Side).

The kitchen is modern and eat-in, the dining room is formal without being stuffy, and a set of double doors opens into a den and a flex room that works as an office or a guest suite with its own bath.

The primary suite is where storage-fans really get excited: a full wall of custom closets, a walk-in, and a windowed bathroom with heated floors. The building is one of Phillip Birnbaum's 1967 designs and has aged into one of the most reliable full-service addresses in the neighborhood — concierge, doormen, on-site fitness, rooftop, pool, garage, valet.

This is one of those listings that we're really glad to work on. There's a difference between selling a house and selling a home, and a lot of that difference lies in how the previous owner filled their space.

That's the feeling this home has: the feeling of one that's been loved. And doesn't have a leaky sink.

If you'd like to see it in person, we'd love to have you.

NYC Apartment Hunting Myths Everyone Still Believes

(And Really Need to Stop)

1. "Spring is the only time to buy."

Spring is when everyone and their mother is buying, which is exactly why you might not want to. The quiet months — August when half the city is in the Hamptons, December when nobody wants to move boxes in a parka — are when sellers get reasonable and bidding wars get rare. Some of my best deals have closed in flip-flops or in scarves.

2. "I'll wait until rates come down."

Sure. And then so will the other 10,000 buyers currently sitting on their hands, and they'll all show up at the same open house you're at, holding the same Zillow alert. Lower rates mean higher prices. Marry the price, date the rate. Plus with the current environment looks like they aren’t going in the direction we are waiting for in the short term.

3. "Co-ops are a nightmare."

The board package is a chore, I won't lie. You'll discuss your finances as if your accountant is on vacation. But you'll also pay less per square foot, in a better-built building, with lower carrying costs for the rest of your life there— and all the info dumps are confidential and secure. A weekend of paperwork for a decade of savings is a trade I'd make anytime.

4. "It's been on the market three months — something must be wrong with it."

Sometimes. More often it launched at a delusional price, had photos taken on a flip phone, or hit the market the week of a Fed announcement. Stale listings are where the leverage lives. Be the buyer who reads past the days-on-market and into the actual apartment.

5. "I don't need a buyer's agent. I'll save the commission."

You will not save the commission. The commission is baked into the deal whether you bring an agent or not — the only question is whether you have someone in your corner or whether the seller's agent is doing both jobs (guess whose interests win that one). Going it alone in New York is like representing yourself in court to save on lawyer fees. Technically allowed. Rarely recommended.

If any of these have been keeping you on the sidelines and you’re daydreaming on StreetEasy to a degree that feels medically dicey, reach out. The market doesn't reward waiting — it rewards the people who showed up prepared.

Mother's Day

We hosted an evening of mahjong and cocktails this Mother's Day, and to everyone who came — thank you. There was a lot of laughter, a few competitive moments, and the kind of lively, happy energy that only comes from a community devoted to cheerful gatherings and genuine care. It was the best version of a Mother's Day: women showing up for each other, no kids underfoot, plenty of seconds at the bar.

Real estate is a relationship business, but underneath that it's a community business. The neighborhoods we love most are the ones held together by women who organize the carpools, host the parties, and somehow make a city of nine million people feel small. Happy Mother's Day to all of them. ((And we’re already plotting next year's Mother’s Day Extravaganza.))