MANHATTAN & BROOKLYN | WEEKLY SCOOP
Look Up 🫣. @tarikpeat
The In-Between
Just like our favorite streaming series, every story has a beginning, an end, and the all-important in-between.
In-between each monthly scoop, NYC’s real estate market continues to churn with transactions. I’m here to keep you in the loop. Expect a concise, weekly snapshot of the market’s latest moves—straight to the point, just for you.
Tarik, a Jamaican developer's grandson, specializes in luxury NYC real estate, and he is an owner of Airbnbs. Tarik enjoys connecting with you and sharing his expertise, as well as utilizing Corcoran's commanding resources and influence to place you in the best possible position to complete a sale or purchase. What questions do you have about real estate?
WEEKLY REPORT: June 7 to 13, 2025
MANHATTAN | CONDOS & CO-OPS
Luxury segment demonstrates resilience amid broader softening - High-end transactions ($5M+) surged 20% year-over-year to 24 contracts, signaling continued appetite among ultra-high-net-worth buyers despite overall contract volume declining 6% week-over-week to 237 total signings.
Geographic arbitrage opportunities emerging in prime locations - Upper Manhattan contracts jumped 23% while Upper West Side declined 27%, creating potential value plays for sophisticated investors willing to capitalize on neighborhood-specific volatility within premium zip codes.
Mid-tier luxury market ($1M-$3M) shows vulnerability - This segment contracted 11% week-over-week with 93 transactions, suggesting wealth concentration effects as buyers either move up-market or pause purchasing decisions in the $1-3M range that typically serves as entry point for affluent professionals.
New development maintains pricing power - Despite resale market weakness (condos -8%, co-ops -6%), new development contracts increased 3% to 31 units, indicating developers' ability to maintain margins through product differentiation and amenity premiums.
Downtown momentum accelerates while Midtown stabilizes - Downtown contracts rose 10% while Midtown gained 2%, suggesting a rotation toward areas with development pipeline and lifestyle amenities that appeal to younger high-earning demographics.
WEEKLY REPORT: June 7 to 13, 2025
BROOKLYN | CONDOS & CO-OPS
First positive annual growth signal in five weeks - Brooklyn contracts surged 13% both week-over-week and year-over-year to 81 signings, marking a potential inflection point that could indicate pent-up demand release and improved buyer sentiment across boroughs.
Sweet spot pricing band ($750K-$1M) shows explosive growth - This segment jumped 36% week-over-week and nearly doubled year-over-year, indicating strong demand from affluent professionals priced out of Manhattan seeking comparable lifestyle amenities at relative value.
Condo market outperforming with institutional appeal - Condo contracts increased 18% year-over-year versus 6% for co-ops, reflecting investor preference for assets with fewer ownership restrictions and stronger liquidity profiles for portfolio diversification.
Premium Brooklyn segment ($1M+) gaining institutional traction - Transactions above $1M increased 23%, suggesting wealth migration from Manhattan as high-net-worth buyers recognize Brooklyn's maturation into a legitimate luxury market with superior value propositions.
Supply-demand imbalance creating pricing power - The 23% surge in higher-end activity combined with limited luxury inventory suggests Brooklyn is entering a phase where premium properties may command Manhattan-adjacent pricing, presenting early-mover advantages for strategic acquisitions.
All information contained within this document is intended for informational purposes only and is sourced from sources that are considered reliable. Although the information is believed to be accurate, it is presented subject to omissions, errors, modifications, or withdrawal without prior notice. This is not intended to solicit property that has already been listed. Equal Housing Opportunity.