MANHATTAN & BROOKLYN | WEEKLY SCOOP
Look down! 🫣 @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 22 - 28, 2026
MANHATTAN | RESIDENTIAL SALES
First annual gain in four weeks ends summer slump: 175 contracts (+4% YoY) snapped a three-week streak of year-over-year declines, with all product types except new development posting annual gains—resale condos (+4% YoY), co-ops (+8% YoY), and townhouses (+50% YoY) all rising.
New development extends slump to six consecutive weeks of 15%+ annual declines: 17 contracts (-15% YoY) marked the longest sponsor drought of the year, even as resale inventory continued absorbing buyer demand across both condos and co-ops.
Central Park Tower posts fourth contract over $20M this year: Unit 68E at $20.5M ($6,094 PPSF) anchored a week where all segments over $1M matched or exceeded last year's levels—with sales above $5M rising 17% annually on two additional deals.
Downtown and FiDi surge with double-digit annual gains: 53 contracts in Downtown (+20% YoY) and 13 in FiDi & BPC (+30% YoY) drove the rebound, while Midtown (-18% YoY) and Upper West Side (-7% YoY) continued softening.
Under $1M the only price tier to decline annually: 73 contracts (-6% YoY) marked three fewer deals than last year, as entry-level activity lagged while every tier above $1M posted gains—$1M–$3M (+13% YoY), $3M–$5M (+11% YoY), and $15M–$25M tripling from one contract to three.
Tarik's Scoop – Beyond the Numbers 💡
Why Entry-Level Keeps Lagging
Manhattan under $1M fell 6% this week. Brooklyn under $750K fell across the board. Meanwhile, everything above $1M rose.
This isn't a temporary blip—it's the new normal.
Entry-level buyers face a different market than move-up buyers. Rates hit them harder as a percentage of monthly payment. Inventory at lower price points skews older, with higher maintenance and fewer amenities. And competition remains fierce for the limited stock that pencils out—which paradoxically slows activity as buyers wait for "the right one" rather than settling.
Move-up buyers have more flexibility: they're often trading equity, they can absorb higher carrying costs, and they're choosing from better inventory. The result is two markets moving in opposite directions.
The opportunity? Sellers in the $1M–$2M range are seeing demand that entry-level sellers aren't—let's position accordingly.
WEEKLY REPORT: Aug 22 - 28, 2026
BROOKLYN | RESIDENTIAL SALES
Brooklyn posts lowest volume in four weeks: 77 contracts (-9% YoY) marked continued summer softness, though resale condos (+23% YoY) and single-family townhouses (+38% YoY) both posted significant annual gains.
Over $1M rises 32% while under $1M falls 30%: The bifurcation sharpened as luxury activity increased—condo/co-op contracts over $1M up 80% annually, house/townhouse contracts over $1M up 46%—while entry-level froze across all tiers below $750K.
Brooklyn Heights corridor surges 67% year-over-year: 10 contracts in Brooklyn Heights/Cobble Hill/DUMBO/Downtown Brooklyn made this the standout submarket, with Fort Greene/Clinton Hill/Prospect Heights (+50% YoY) the only other area posting annual gains.
No contracts over $5M for the first time in four weeks: Zero luxury deals above $5M versus one last year marked a pause at the top, though the $1M–$2M tier (+42% YoY) drove overall strength in the mid-market.
One Hanson Place leads with Fort Greene scale: The $3.595M contract ($1,262 PPSF) for unit 28A—a 2,848 SF three-bedroom—became Brooklyn's top sale, confirming that branded new development in prime locations still commands premiums.
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.