MANHATTAN & BROOKLYN | WEEKLY SCOOP
Look Around 🫣. @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: May 31 to June 6, 2025
MANHATTAN | CONDOS & CO-OPS
Strong weekly performance with 251 contracts signed, up 25% week-over-week and 6% year-over-year, significantly outpacing Brooklyn's declining metrics.
Resale co-ops dominated transaction volume with 144 contracts (27% increase), followed by 77 resale condos (13% increase) and 30 new development units (50% increase).
Ultra-luxury market showed exceptional strength, with contracts over $20M doubling and the $5M-$10M segment increasing 80%, demonstrating continued high-end buyer confidence.
Upper East Side led geographic performance with 71 contracts (65% increase), while Downtown added 70 contracts (13% increase), and the Financial District grew 40%.
Premium developments captured top-tier demand, including One57 at $26M, 520 Park Avenue at $25.95M, and 180 East 88th Street at $13.85M.
WEEKLY REPORT: May 31 to June 6, 2025
BROOKLYN | CONDOS & CO-OPS
Contract volume declined 34% year-over-year to 72 units, though the market showed a modest 1% weekly increase and maintains 15% YTD growth, indicating gradual recovery from last year's weakness.
Condos outperformed co-ops significantly, with condo contracts jumping 22% to 44 units while co-op activity fell 20% to 28 units, reflecting buyer preference for newer inventory and financing advantages.
Luxury segments drove activity, particularly the $1M-$2M range (39% increase) and $2M-$3M tier (60% increase), while entry-level markets under $750K contracted 41-58%.
Geographic performance varied widely, with Fort Greene/Clinton Hill surging 117% while established areas like Park Slope declined 7% and Brooklyn Heights fell 38%.
Top contracts clustered in new developments, including Polhemus Residences at $3.35M and multiple One Domino Square units between $2.5M-$3.12M.
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.