MANHATTAN & BROOKLYN | WEEKLY SCOOP
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The In-Between
Similar to our favorite streaming shows, there's a beginning, an end, and everything in between.
In the heart of New York City's bustling real estate seasons - spring and fall - I aim to bring you a condensed weekly update to keep you plugged into the latest action.
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CORCORAN WEEKLY REPORT: May 25 to May 31
MANHATTAN | CONDOS & CO-OPS
Last week, 214 contracts were signed, down 20% week-over-week due to Memorial Day and 4% year-over-year.
Despite the overall annual decline, 11 out of 20 categories posted year-over-year gains in contract activity.
Financial District & BPC sales doubled versus a year ago, the most significant annual percentage gain of the week.
This was the first time in seven weeks that there were fewer than 20 contracts signed over $5M in Manhattan.
The top contract was the 5th floor at Giorgio Armani Residences (760 Madison Avenue) asking $25M ($5,135 PSF).
What is the typical cost per square foot to renovate a luxury NYC apartment with high-end renovations?
CORCORAN WEEKLY REPORT: May 25 to May 31
BROOKLYN | CONDOS & CO-OPS
Last week, 69 contracts were signed, down only by a slight 1% versus the same holiday week a year ago.
A strong co-op market helped to maintain the sales pace from last year since condo sales fell by double-digits annually.
Sales under $500K nearly doubled versus 2023, primarily due to co-op sales across South Brooklyn.
South Brooklyn had the largest annual increase in contract activity, up 82%, a difference of nine sales.
Last week's most expensive sale was a resale condo at 1 Prospect Park West, offering 11-foot ceilings and views of Prospect Park.
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.