MANHATTAN & BROOKLYN | WEEKLY SCOOP
Look ahead! 🫣 @tarikpeat
The In-Between
Hi {{ First Name | Scooper }}! Headlines cover the market monthly. Deals happen daily. This is what moved in between — one week of Manhattan and Brooklyn contracts, distilled to what matters.
WEEKLY REPORT: Aug 1 - 7, 2026
MANHATTAN | RESIDENTIAL SALES
1122 Madison posts second-most expensive Upper East Side sale of the year: The $40.5M contract ($7,713 PPSF) for Floor 19 trailed only the building's own $89.5M penthouse from February—confirming that trophy product in trophy buildings commands premiums regardless of broader market conditions.
Resale condos the only product type posting annual gains: 78 contracts (+3% YoY) extended the sustained resale momentum, while new development (-33% YoY), co-ops (-13% YoY), and townhouses (-67% YoY) all declined.
New development posts fourth consecutive double-digit annual decline: 16 contracts marked the longest sponsor slump of the summer, even as resale inventory continues absorbing buyer demand.
Four+ bedroom more than triples year-over-year: 21 contracts (+250% YoY) marked the strongest performance for family-sized units since spring, with Upper West Side (+32% YoY) the standout submarket.
Sixteen weeks post-pied-à-terre tax: luxury trends 1% above 2025: 16 contracts above $5M (+7% YoY) brought the cumulative post-tax total to four more deals than the same period last year—confirming that luxury demand has absorbed the tax impact.
Tarik's Scoop – Beyond the Numbers 💡
Why Trophy Buildings Make Their Own Market
1122 Madison just posted the second-most expensive Upper East Side sale of the year. The most expensive? Also 1122 Madison, back in February.
This isn't coincidence—it's how premium real estate works. When a building establishes itself as the standard in a submarket, it stops competing with neighboring inventory and starts setting the benchmark that others are measured against. Buyers don't comparison-shop 1122 Madison against nearby co-ops. They decide whether they want to be in that building or not.
The broader market was down 11% this week. The UES was down 29%. None of that mattered for a full-floor at the right address. Trophy buildings don't follow the market—they create it.
The lesson isn't that you need $40 million. It's that building quality compounds over time—let's find where the premiums are built in.
WEEKLY REPORT: Aug 1 - 7, 2026
BROOKLYN | RESIDENTIAL SALES
Brooklyn pulls back after last week's doubling: 90 contracts (-10% YoY) marked a return to typical summer volume following the 125-contract surge, with townhouse product posting double-digit annual declines across both single-family (-48% YoY) and multi-family (-20% YoY).
Resale condos surge 37% year-over-year: 26 contracts marked the strongest annual condo performance in weeks, even as co-ops (-16% YoY) and new development (+6% YoY) posted mixed results.
Williamsburg and Carroll Gardens both double versus last year: 10 contracts in Williamsburg/Greenpoint (+100% YoY) and 8 in Carroll Gardens/Boerum Hill (+100% YoY) made these the only submarkets with significant annual gains—all others declined more than 10%.
Under $1M improves 11% while over $1M falls 27%: The entry-level tiers ($750K–$1M up 19% YoY, under $500K up 6% YoY) continued recovering as mid-market and luxury pulled back—a reversal of the pattern that dominated spring.
Bergen Brooklyn penthouse leads at $5.55M: The 2,910 SF unit ($1,907 PPSF) became Brooklyn's top sale, with the building's second penthouse appearance in recent weeks confirming sustained demand for finished new development in prime locations.
Grandson of a Jamaican developer. Corcoran agent. Short-term rental owner. I help executives, founders, and investors buy, sell, and hold across Manhattan and Brooklyn. I'm behind Tarik's Scoop because the market moves fast and busy people deserve clean signal, not noise.
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Thinking about buying or selling in NYC? I work with executives, founders, and investors across Manhattan and Brooklyn. |
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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.