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.))

April 2026

April 30, 2026

Market Update

Across Manhattan and Brooklyn, early spring consistently marks the beginning of the city’s most active real estate period. Warmer weather brings more open houses, more listings, and more buyers who spent the winter preparing financing and refining their search.

This seasonal shift is partly practical. Sellers who held off during the slower winter months begin listing in March to capture peak visibility before summer travel begins. Inventory typically rises sharply at this time, with thousands of new listings entering the Manhattan market between January and April, giving buyers more options but also creating competition for the most desirable homes. At the same time, contract activity tends to climb as serious buyers who paused during the holidays re-enter the market with clearer expectations and financing in place.

But increased inventory doesn’t necessarily mean a softer market. In fact, tight supply heading into the spring season often means that well-priced apartments attract significant attention quickly. Buyers remain selective, but homes that combine strong light, efficient layouts, and thoughtful renovations continue to move swiftly. As we move deeper into the spring market, the pattern remains consistent: preparation meets opportunity, and momentum builds steadily from there.

Property of the Month: 565 Broome Street #N5E

Elevated design meets effortless downtown living at 565 Broome Street #N5E, a striking one-bedroom residence crafted by Renzo Piano Building Workshop with interiors by RDAI Paris.

Spanning approximately 707 square feet, this home captures what we love most about SoHo living—thoughtful design, beautiful light, and a quiet sense of luxury that never feels overdone.

The floor-to-ceiling curved glass windows bring in soft northern light throughout the day, giving the space an easy, airy feel. Ten-foot ceilings and wide-plank white oak floors add just the right amount of volume, while the entry foyer—complete with in-unit washer/dryer, central air, and ample storage—keeps everything practical and livable.

The open kitchen and living area feels both polished and comfortable, with fluted oak cabinetry, Basaltina stone countertops, and integrated Miele appliances. The Calacatta marble bathroom leans more spa than statement—calm, simple, and well executed.

The building itself is part of what makes homes like this so appealing. With over 17,000 square feet of amenities—including a 55-foot pool, fitness and yoga studios, spa facilities, and full-service staff—it strikes that rare balance between lifestyle and discretion.

Set in the heart of SoHo near Hudson River Park, residences like this tend to draw buyers who appreciate design, architecture, and a more understated kind of luxury. It’s the kind of home that doesn’t need to try too hard—and that’s exactly the point.

New NYC Co-op Laws: What Buyers & Sellers Need to Know

New York City has implemented a long-anticipated change to the co-op purchase process, introducing clearer timelines and a level of accountability that has historically been absent. Under the newly enacted Cooperative Application Timeline Law (Intro 1120-B), co-op boards are now required to adhere to a defined review schedule when evaluating purchase applications.

Specifically, boards must acknowledge receipt of a completed application within 15 days and issue a decision within 45 days. If acknowledgment is not provided within that initial window, the application may be treated as complete—effectively triggering the review period.

For years, one of the most challenging aspects of buying in a co-op has been the unpredictability of board timelines. Transactions could stall without explanation, leaving both buyers and sellers in limbo. While this new law does not limit a board’s discretion in approving or rejecting applicants, it does introduce a structure that should reduce unnecessary delays and improve communication.

In practice, this change is expected to bring greater consistency to co-op transactions and may help narrow the perceived gap between co-ops and condominiums, particularly for buyers who have been hesitant to enter the co-op market.

Things That Always Shock People When They Buy in New York

Even well-prepared buyers are often caught off guard by how distinct the New York City real estate market is. Among the most common surprises:

Neighborhoods vary drastically, even from street to street. There’s something for everyone, and no matter how exciting the area, there’s aways a quiet sunny block. And no matter how peaceful an area, there’s always a speakeasy that will exceed expectations.
The co-op board process is highly rigorous, often requiring extensive financial documentation and thorough review. Joining a building is a lot like joining a community, and boards take care to make sure every new neighbor matches the culture and financial requirements of the building.
Cash transactions are extremely common, particularly in Manhattan, where they represent a significant share of closings. An all-cash-buyer does walk into a showing with a bit more opportunity than someone who’d be getting a loan, but it’s important to remember that cash isn’t always king. Speedy decisions and stellar board applications make for a standout buyer, cash or no.
Closing costs can be substantial, frequently exceeding expectations due to taxes and building-related fees. It will seem like a lot, but proper counsel will help you navigate the jargon and show you want your numbers will really look like. And a proper broker can often negotiate some fees to be covered by the seller.
Apartments tend to be smaller and more expensive than comparable properties in other major cities. As the old saying goes, “You only sleep in your house. You live in New York.” And though the prices might be a little steeper than they are in Cincinnati, you’re never going to get a better view than the one you have in New York.
Inventory constraints persist, which can sustain competition even in less active market conditions. However, there are early property drops that well connected brokers can jump on before anyone else has a chance to catch them. Like everything in New York: it’s tough to compete— sure— but at the end of the day, it’s all about who you know…

For many buyers, the adjustment is less about price and more about process. New York operates within its own framework, and navigating it successfully requires a clear understanding of those expectations. That’s why our team is so passionate about understanding the real estate market day in and day out. Because the brokers that can help their clients navigate an intrinsically confusing process, are the ones that already know the city like the back of their hand.