Market Update
Manhattan’s third-quarter results show a market with real strength underneath. Closed sales rose 9% year over year to 3,625, the strongest third quarter since 2022, and homes are selling faster. Contracts are being signed in 90 days on average, two weeks faster than a year ago and the quickest pace since 2022.
Supply is still the defining story. Active listings fell to 6,354, the thinnest third-quarter supply since 2017, and with fewer homes to choose from, prices have held firm. The median sale price rose 4% to a third-quarter record of $1.25 million, and prices have now risen year over year for seven straight quarters. At the same time, buyers have become more selective. Signed contracts slipped 6%, as higher mortgage rates, the new pied-à-terre tax, and thin supply gave buyers pause. The pattern from earlier in the year still holds: well-priced homes move quickly, and overpriced listings sit.
A follow-up for second-home owners: the first pied-à-terre surcharge payment is due January 1, 2027. If you own a non-primary residence in the city, now is the time to talk with your accountant rather than in December. We’re glad to discuss how the tax is affecting pricing in specific buildings and to point you toward the right tax professional. This isn’t tax advice.
With the fall market in full swing and the holidays approaching, the next six weeks are the best window of the season, whether you’re listing or buying.
Property of the Month:
159 W 53rd Street, 38GH
Perched high above Midtown Manhattan, this approximately 1,700-square-foot penthouse offers three bedrooms, two and a half bathrooms, a private balcony, and exceptional triple exposures to the north, east, and west that frame expansive city and Central Park views.
The gracious living and dining rooms sit side by side, creating an impressive space for entertaining, with high ceilings, crown moldings, and hardwood floors that add a sense of scale and classic New York character.
The generously proportioned, windowed eat-in kitchen is equipped with Sub-Zero, Thermador, and Bosch appliances, with room for a breakfast table and great pantry storage. The spacious primary suite features large windows, generous storage, and a windowed marble bathroom, while two additional bedrooms provide flexibility for family, guests, or a home office.
Tower 53 is a full-service condominium with 24-hour doorman and concierge service, a landscaped roof deck with panoramic views, an on-site garage, and a central laundry room. Electricity is included in the common charges, the building is pet-friendly, and live/work use is permitted. Central Park, Carnegie Hall, Broadway, Fifth Avenue shopping, and some of Manhattan’s most celebrated dining are all nearby.
A rare combination of space, light, views, and private outdoor living in the heart of Manhattan. For floor plans, building financials, or a private showing, contact us below.
The Best Halloween Streets in the City
Stoops, Skeletons, and a Saturday Halloween
Halloween falls on a Saturday this year, which means a full weekend to walk the city’s best-dressed brownstone blocks. A few to start:
West 11th Street, 5th Avenue to 6th Avenue — Stately brownstones, creative decorations, and for the kids: full size candy bars. And once you're done with 11th Street, the party continues one block over on 10th Street.
West 69th Street, Broadway to Central Park West — The one everyone talks about. The block association turns the street into an over-the-top spread of skulls, zombies, and staged scenes, with a spooky walk on Halloween afternoon and early evening.
West 95th Street, Columbus to Central Park West — The street closes to traffic and the brownstones go all out. A more relaxed option for families with small kids.
East 78th Street, Park to Lexington — The East Side’s answer, and a reminder of how many beautiful townhouse blocks the Upper East Side has.
West 21st and 22nd Streets, Ninth to Tenth Avenues — Chelsea’s rowhouses around the General Theological Seminary. On the night itself, neighborhood families gather at Clement Clarke Moore Park on 22nd and Tenth and walk the blocks together.
The Village Halloween Parade (Saturday, October 31, 7pm) — Heading north up Sixth Avenue from Canal Street. Founded in 1974 by puppeteer Ralph Lee, it’s still the best people-watching of the year.
Two Apartments, One Family Home
A Before-and-After Story at 222 East 80th Street
We represented the seller of two adjacent co-op apartments at 222 East 80th Street, each with its own shares and proprietary lease. Our buyers bought both and transformed them into a bright, flowing home for their family.
The path from two to one started with the opportunity: two neighboring units. Then came the process: financing for both units and co-op approvals. Finally, the transformation: a full renovation created one home. Having gone through this process, our team can walk you through each step to avoid delays.
The original kitchen, with its yellow counters and dark wood cabinets, gave way to an open, light-filled space. The arched passages, custom millwork, and white oak floors show how thoughtfully they approached every inch.
The people behind the home:
Andrew Kracht, Pseudonym Studio
Fadjol Kola, Kola Construction Group
Little Wolf Cabinet Shop
Carlisle Wide Plank Floors
