Market Update
In January, the NYC housing market experienced a 10.7% annual rise in contracts, even with mortgage rates at 7%. This growth is linked to an increase in new listings at more affordable prices. Successful sellers have been adjusting their pricing strategies to align with current market trends.
The median price of homes entering contracts decreased by 3.7% year-over-year, settling at $890K. This trend is particularly prominent in Manhattan, where the median asking prices for new listings have seen a notable drop. Eight of the ten NYC neighborhoods with the most significant declines in median asking prices are located in Manhattan. In contrast, increased buyer competition in Brooklyn is driving up prices, with median asking prices exceeding $1M in 34 neighborhoods—a record high.
Although mortgage rates are expected to remain high this year, reduced volatility could assist buyers and sellers in better financial planning.
Property of The Month
6H at the Frost House is a chic 1-bedroom, 1-bathroom apartment situated on 3rd Avenue in the vibrant Lenox Hill neighborhood. With its eastern exposure, this residence offers sweeping views of 3rd Avenue, providing a smart and casual urban living experience. Inside, you'll find a well-designed pass-through kitchen equipped with a dishwasher, full-size appliances, a breakfast bar, and granite countertops. The option to install a washer and dryer adds a modern convenience to this city home.
The spacious living/dining area can accommodate a large 8-person table and an entertainment section.The living room features custom built-ins for ample storage and space for a television. The primary bedroom is a peaceful retreat with city-quiet windows and built-in wall storage, allowing you to showcase your personal style while keeping the space clutter-free. Apartment 6H offers abundant closet space throughout. Enjoy the luxury of private outdoor space, a rare find in the heart of the city.
Fashion Week
February 2025 marked yet another transformative season for New York City’s Fashion Week, where bold creativity and innovation take center stage in the heart of the fashion world. Following the prestigious global fashion weeks in Milan, Paris, Copenhagen, and Berlin, New York Fashion Week showcased the exceptional talent of iconic American designers such as Ralph Lauren, Michael Kors, and Marc Jacobs.
The event continued its rich tradition of celebrating top-tier designers like Brandon Maxwell and Christian Siriano while also introducing fresh faces to the fashion scene. This season, rising stars like Kate Barton, Agbobly, Contessa Mills, Luar, and Leblancstudios made their debut, wowing audiences with their remarkable collections.
Beyond the stunning runway shows, Fashion Week further solidified New York’s position as a global hub for style and star power. Celebrities flocked to the shows and afterparties while the streets buzzed with fierce, six-foot-tall models, channeling Carrie Bradshaw’s iconic “free-range models” vibe. Whether you were front row at a show or watching from home, New York Fashion Week 2025 was truly a spectacle. And the best part? It’s just the beginning—get ready for another round this fall!
Grammy's Recap
The 2025 Grammy Awards aired live on February 3rd, with a star-studded lineup of performances, surprise moments, and, of course, the crowning of this year’s top artists.
But if you didn't catch it, here's a recap of this year's winners:
KENDRICK LAMAR, NOT LIKE US
Record of the Year and Song of the Year
Kendrick Lamar wins five Grammy Awards in 2025, including Song of the Year for his legendary diss track, "Not Like Us". The crowd singing along to his iconic verse will surely be a defining moment in Grammy history.
DOECHII, ALLIGATOR BITES NEVER HEAL
Best Rap Album
Doechii became the third woman to win Best Rap Album, offering up what was arguably the best number of the night (when a woman can rap in a split, you know you’ve found someone special). If you want to see more of her (and who doesn't) check ouut her Tiny Dedk Concert online!
CHAPPEL ROAN
Best New Artist
A true Cinderella story of hardearned success, Chappel Roan’s rise may seem meteoric, but her win was no surprise for her loyal fanbase. With her old-school stage presence, she had the whole crowd dancing at the Pink Pony Club.
BEYONCE, COWBOY CARTER
Album of the Year, Best Country Album, and Best Country Duo Performance
Beyonce won three Grammys, becoming the first black woman to win Best Country Album, and finally claiming the coveted and long-awaited Album of the Year award.
SABRINA CARPENTER, SHORT AND SWEET, EXPRESSO
Best Pop Vocal Album and Best Pop Solo
Winning Grammys for her song, Expresso, and her album, Short and Sweet, Sabrina Carpenter has taken her fun, campy style to the highest level and proved her mettle as the poppiest pop star in the industry.
CHARLI XCX, BRAT
Best Dance/Electronic Album
The definition of cool girl music, BRAT gained so much momentum that it claimed a shade of green and was featured in both political campaigns. Charlie XCX was well deserving of a golden Grammy, and her SWEAT tour with Troye Sivan is a testament to her incredible performance skill.
The concept behind congestion pricing is straightforward: imposing a toll to access the city center reduces the number of cars on the road. This alleviates traffic congestion and decreases greenhouse gas emissions and other harmful pollutants while generating revenue for the public transit system.
In the policy's first week, Manhattan saw a 7.5 percent reduction in traffic. Commute times have significantly decreased on major and typically congested routes, such as the Lincoln Tunnel, the Holland Tunnel, the Williamsburg Bridge, and the Queensboro Bridge. This results in reduced congestion and pollution and time savings for drivers who must travel. Meanwhile, ridership of subways, buses, and commuter rails has increased substantially.
Restaurant Week is here....are you ready?
Restaurant week is 19 days this winter, spanning from January 21 until February 9th. The prix fixe menus will start at $30.00, and restaurants can be found throughout the 5 NYC boroughs. This is the perfect opportunity to find a new favorite restaurant, sample a new cuisine, or dine at one of the City’s top restaurants
Some of the notable restaurants from this year's options:
Harlem
Enoteca Harlem: Spanish food that will have you coming back to this restaurant time and time again. They serve tapas to Paella, even a gringo burger. No one will leave without being stuffed and swearing to come back soon.
Upper East Side
La Voglia: A fantastic new addition to the Upper East Side. This gorgeous restaurant is where Italian classics meet contemporary cooking. You will find the classics and some new dishes that will tempt your taste buds.
Astoria
Rivercrest- American food at its finest with a wide variety that will make everyone happy. From the expected buffalo wings to Maple Fried Brussel Sprouts, Traditional burgers to Beer battered fish tacos…
South Street Seaport
The Tin Building by Jean-Georges has two participating restaurants. T. Brasserie is perfect if you prefer French fare, and House of the Red Pearl is an excellent choice if you are looking for unique Chinese dining. Once you have dined, wander the fabulous Tin Building and buy a freshly made baguette and authentic French Butter to take home to savor later.
