Market Update
As 2025 comes to a close, the Manhattan real estate market is showing encouraging signs for both buyers and sellers. Median apartment sale prices have risen to $1.225 million, up 7 % from last year, reflecting steady demand and renewed confidence in the city’s top neighborhoods.
Well-positioned, move-in–ready condos and co-ops are attracting strong attention, with buyers responding quickly to homes that are priced right and thoughtfully presented. Price per square foot has climbed to $1,792, a 5 % increase year-over-year, underscoring the value in quality properties that show well and meet today’s buyer expectations.
Mortgage rates have softened slightly, with the average 30-year fixed rate in New York at approximately 6.05–6.40 %, creating favorable conditions for buyers ready to act. For sellers, this means that properties that are thoughtfully marketed and competitively priced are receiving strong interest, often translating to faster negotiations and confident offers.
Looking ahead, we anticipate continued momentum in the $1.5 M–$3 M range, with larger and luxury homes remaining particularly active. For brokers, clients, and investors alike, the message is clear: prepared, well-priced, and well-presented homes are capturing attention, making this an exciting time to engage with the Manhattan market.
Property of the Month: 162 E 80th St, 7B
This month, we’re celebrating the successful sale of a truly special Upper East Side residence — a beautifully updated 3-bedroom, 3-bathroom home that blends pre-war elegance with thoughtful modern updates.
Located on a quiet, tree-lined block in a boutique co-op with an exceptional full-time staff, this apartment embodies the charm, warmth, and sophistication that make this neighborhood so beloved.
From the moment you step inside, the home feels both grand and inviting. The entrance foyer opens to a sun-filled living room anchored by a rare working wood-burning fireplace — a signature detail that gives the space a sense of timeless New York character. Across the hall, the windowed dining room features custom zebra wood built-ins that elevate the space while offering both beauty and function.
The building itself enhances the home’s value even further: full-time doorman, elevator, laundry facilities, bike storage, private storage, and a welcoming community atmosphere that residents love.
We’re thrilled to share that this property went into contract within just one month — a testament to its exceptional layout and the continued demand for high-quality homes in this coveted pocket of the Upper East Side. And of course, such a sale would never have been possible with out the dedicated members of our team working to make the perfect match of home and happy buyers.
And for those who fell in love with the building as much as the home: you’re in luck. We already have exciting new listings coming to the market here in the new year, offering fresh opportunities to join this wonderful co-op community.
If you’d like to learn more or be the first to see what’s coming next, we’d be happy to keep you in the loop.
The NYE Guide: Where to Go, What to Wear, and When to Pop the Bubbly
New Year’s Eve in Manhattan is an art form—equal parts sparkle, ceremony, and perfectly timed champagne. Whether you’re planning an elegant dinner, a downtown celebration, or a more intimate gathering, our guide will help you ring in 2025 in true New York style.
Where to Go
For glamour: Head to The Nines in NoHo or Bemelmans Bar on the Upper East Side, where velvet booths, live music, and a classic supper-club atmosphere create a timeless setting. For a big-night-out: Tao Downtown and The Blond deliver high-energy parties with DJs, dancing, and a scene that lasts well past midnight.
For a more sophisticated celebration: The Mark Restaurant by Jean-Georges or Le Coucou offer prix-fixe dinners with refined elegance, perfect for those seeking a curated, luxurious experience.
For something unexpected: Rooftop igloos at the Skylark or cocktail lounges at the Seaport provide a magical backdrop for sipping and socializing under sparkling city lights.
What to Wear
NYE is the city’s unofficial permission slip to be bold. Metallics, velvet, sequins, tuxedo-inspired tailoring, and jewel tones dominate the scene. If your evening involves outdoor transit or multiple venues, consider layering with a statement coat—faux fur, oversized wool, or a longline leather jacket can add both warmth and style. Accessories like sparkling clutches or standout jewelry help complete the festive look.
When to Pop the Bubbly
Dining out? Order Champagne with dessert to beat the midnight rush and ensure your toast is perfectly timed. Hosting at home? Begin the first pour around 11:15 PM so guests can settle in and enjoy the countdown. And for night owls, keep a chilled bottle ready for a quieter post-midnight toast. In New York, there’s always room for more than one “midnight moment,” and the right timing ensures everyone can celebrate in style.
When in doubt, there's a big ball drop in Midtown, and I hear they even have a countdown.
That's a pretty good cue as well.
December Deal Sheet:
A Year in Review for the Ronita Kalra Team
As 2025 draws to a close, the Ronita Kalra Team is especially grateful for the incredible community we work with every day. This year was marked by thoughtful strategy, meaningful wins, and strong momentum across Manhattan — none of which would have been possible without the trust and collaboration of our clients and fellow brokers.
We had the privilege of guiding incredible buyers and collaborating with outstanding brokers on memorable deals — from the sale of an Upper East Side penthouse with a wraparound terrace to a beautifully designed duplex in a coveted school district. We also worked consistently with iconic buildings like The Rio and The Frost House, helping clients find homes that perfectly fit their lifestyles.
Other highlights of the year included successful Upper East Side rentals, sprawling Chelsea loft leases, and several off-market opportunities created through our extensive broker network.
Looking ahead to 2026, the we remain committed to providing exceptional service, insightful market guidance, and an elevated experience at every stage of the real estate journey — and looking forward to next year, we already have several exciting new listings fresh on the market and many more ready to come to market in the new year. We’re excited to continue helping clients achieve their goals while celebrating the vibrant community that makes Manhattan real estate so special.