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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.
As the grandson of a Jamaican developer and seasoned short-term rental investor, Tarik brings generational real estate knowledge to luxury NYC properties and Greenwich Village specialization. He's passionate about connecting with clients and sharing his expertise while leveraging Corcoran's extensive resources and strong market influence to position you for successful transactions. I'd love to hear all of your real estate questions today!
From Italy to a Nasdaq Reservation
How do you follow record-setting success? Get stronger. Take Pacaso. Their real estate co-ownership tech set records in Paris and London in 2024. No surprise. Coldwell Banker says 40% of wealthy Americans plan to buy abroad within a year. So adding 10+ new international destinations, including three in Italy, is big. They even reserved the Nasdaq ticker PCSO.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
WEEKLY REPORT: Aug 2 to 8, 2025
MANHATTAN | CONDOS & CO-OPS
Strong weekly momentum with solid annual growth: Contract signings reached 220 units, representing a 15% week-over-week increase and 9% year-over-year growth, indicating sustained market resilience despite broader economic uncertainties.
Resale market significantly outperforming new development: Resale condominiums surged 45% compared to 2024 levels while new development sales declined 23%, suggesting buyers are prioritizing established properties over new construction projects.
Mid-market segment ($1M-$3M) driving volume growth: Sales under $3M increased 11% annually, with particularly strong performance in the $1M-$3M range showing 18-31% gains, indicating robust demand among affluent professionals and smaller investment portfolios.
Ultra-luxury market remains active: The week's top contract at 140 Jane Street commanded $87.5M ($9,180 PSF), demonstrating continued appetite for trophy assets among ultra-high-net-worth individuals.
Geographic strength concentrated in established neighborhoods: Upper East Side and Midtown showed notable contract increases of 35% and 39% respectively, while emerging areas like Upper West Side experienced some softening.
WEEKLY REPORT: Aug 2 to 8, 2025
BROOKLYN | CONDOS & CO-OPS
Significant annual decline despite weekly uptick: While contracts increased 21% week-over-week to 57 units, the market remains down 30% year-over-year, representing the second-slowest week since January and indicating sustained pressure on Brooklyn's residential market.
Broad-based geographic weakness across submarkets: Six of eight tracked submarkets experienced year-over-year declines, with particularly notable drops in Fort Greene/Clinton Hill/Prospect Heights (-67%) and Brooklyn Heights/Cobble Hill/Dumbo (-44%).
New development pipeline constraints impacting overall volume: The area south of Prospect Park saw the largest decline due to reduced new development sales, suggesting development financing challenges are constraining supply in key growth areas.
Price point concentration in entry-level luxury: Strong activity in the $500K-$750K range (50% increase) indicates Brooklyn continues to serve as an alternative for buyers priced out of Manhattan, particularly first-time luxury buyers and young professionals.
Luxury segment showing resilience: Despite overall market softness, high-end transactions continue with notable sales like the One Williamsburg Wharf three-bedroom, suggesting affluent buyers remain attracted to Brooklyn's premium offerings with Manhattan proximity.
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.