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MANHATTAN & BROOKLYN | NOV 2025
W. 14th St. looking south at Hudson & 9th Ave. Photo ©️Tom Duncan 1973
Selective
Manhattan just had its best October in five years while Brooklyn can't catch a break. Here's the plot twist: both stories are true, and understanding why reveals everything about where this market is headed. With 90 luxury contracts signed above $5M and co-ops making an unexpected comeback, the tale of two boroughs isn't what you'd expect. The disconnect gets even stranger from here.
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THE MONTHLY REPORT: OCTOBER
MANHATTAN | CONDOS & CO-OPS
Manhattan just posted numbers that turn heads: 1,113 signed contracts mark the strongest October since 2021, beating last year by 4% and crushing the ten-year average by 12%—this isn't a blip
The mid-luxury sweet spot is on fire: The $3M-$5M segment absolutely exploded with a 48% annual surge driven by resale activity, while the ultra-high end rose 13%—both ends of premium are working
The headline pricing tells a misleading story: Sure, price per square foot hit $1,978 and rose 3% annually, but strip out Billionaires' Row and you're looking at $1,800—down 4%—exposing the real market dynamics
Negotiating leverage flipped: Average discounts tightened to just -2.3% off asking versus deeper cuts last year, and get this—only 65% of contracts closed below ask compared to 73% in October 2024
Inventory stays frustratingly tight: Active listings at 6,797 rose a modest 5% but remain 7% below ten-year norms, while days on market plunged 11% to 118 days as absorption accelerated dramatically
THE MONTHLY REPORT: OCTOBER
BROOKLYN | CONDOS & CO-OPS
Brooklyn's slump just won't quit: 329 contracts signed represents the sixth consecutive month of year-over-year declines at -12%, sitting 17% below the ten-year October average—the pattern is undeniable
Buyers are cherry-picking price points: Only the $1M-$1.5M and $2M-$3M ranges posted gains (+3% and +6%), while the $1.5M-$2M segment got hammered with a 48% collapse—clear resistance zones emerged
The market is slowing down, not speeding up: Days on market increased 7% to 83 days versus last October, creating a stark contrast with Manhattan's accelerating pace and signaling softer buyer urgency
Co-ops are showing cracks: Co-op price per square foot declined 6% annually to $615—the first yearly drop in ten months—while condo pricing rose 3%, widening the property-type valuation gap dramatically
Supply is finally building, but slowly: Active listings rose 6% to 1,791 units, marking the first year-over-year inventory increase since April, though still nearly 10% below ten-year averages as the market rebalances
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THE MONTHLY REPORT: OCTOBER
MANHATTAN | $5M+ CONDOS & CO-OPS
The luxury machine is roaring back: 90 contracts signed above $5M represents a 13% annual jump and a massive 58% surge from September—the kind of October activity not seen since the market was on fire
Billionaires' Row is distorting reality: Properties commanding over $7,000 per square foot pushed the average to $3,274, creating a headline number that tells you almost nothing about what's actually happening below the stratosphere
Inventory is vanishing at the top: Active luxury listings dropped 9% year-over-year to just 887 units, marking the 15th straight month of supply decline and turning premium inventory into a genuine scarcity play
Speed matters now: Days on market fell 8% to 197 days, but here's what's wild—the decline is driven by high-demand properties that used to languish for over a year finally finding their buyers
Geography became destiny: Upper West Side luxury exploded 44% higher while Upper East Side contracted 10%, revealing a dramatic revaluation of what "prime" actually means in today's market
Happening Around the Borough @Moma
Lightscape at Brooklyn Botanic Garden: Brooklyn's premier after-dark winter spectacle transforms the iconic botanical garden into an enchanted forest with over one million lights and international art installations, offering an elevated evening experience from November 21 through January 4. Click Here.
Gabriele Münter: Contours of a World at the Guggenheim Museum: The Guggenheim presents the first major New York retrospective in 30 years of German Expressionist pioneer Gabriele Münter, featuring 60 bold modernist paintings and rare early photographs that reveal her groundbreaking artistic vision through April 26, 2026. Click Here.
Wifredo Lam: When I Don't Sleep, I Dream at MoMA: MoMA debuts the most comprehensive U.S. retrospective of Cuban modernist Wifredo Lam, showcasing 150+ visionary works that fused Afro-Caribbean culture with European modernism in what the artist called an "act of decolonization," on view through March 28, 2026. Click Here.
NYC Thanksgiving & Holiday Season Events @FilipWolak
Macy's Thanksgiving Day Parade (Nov 27) — 99th edition with new balloons, live performances, 2.5-mile route, 8:30 AM start. Details → macys.com/parade
Lightscape at Brooklyn Botanic Garden (Nov 21–Jan 4) — One million lights transform the garden into an enchanted winter forest. Details → bbg.org/lightscape
Holiday Markets across Manhattan & Brooklyn (Nov 13–Dec 24) — Union Square, Bryant Park, Grand Central, Columbus Circle featuring artisans. Details → Holiday Markets Guide
Rockefeller Center Christmas Tree Lighting Ceremony (Dec 3) — 75-foot spruce illuminated at 10 PM, live on NBC, hosted by Reba McEntire. Details → rockefellercenter.com
Gabriele Münter: Contours of a World at Guggenheim (Nov 7–Apr 26) — First major U.S. retrospective in 30 years of German Expressionist pioneer. Details → guggenheim.org
Wifredo Lam: When I Don't Sleep, I Dream at MoMA (Nov 10–Mar 28) — 150+ works by Cuban modernist fusing Afro-Caribbean and European influences. Details → moma.org
As the grandson of a Jamaican developer, real estate has always been part of my life. I love helping people buy, sell, and invest in NYC—especially in Greenwich Village and luxury homes. Owning short-term rentals myself, I understand the practical side of investing. With Corcoran’s resources, I aim to make every step simple, clear, and focused on your goals.
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.