MANHATTAN & BROOKLYN | WEEKLY SCOOP
Look Up. 🫣 @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.
As the grandson of a Jamaican developer and seasoned short-term rental investor, Tarik brings generational real estate knowledge to luxury NYC properties and Greenwich Village specialization. He's passionate about connecting with clients and sharing his expertise while leveraging Corcoran's extensive resources and strong market influence to position you for successful transactions. I'd love to hear all of your real estate questions today!
WEEKLY REPORT: Aug 23 to 29, 2025
MANHATTAN | CONDOS & CO-OPS
Market momentum shows signs of cooling with weekly contract signings declining 18% and marking the first recorded annual sales decline in three weeks, signaling a potential shift in the luxury market cycle
Geographic disparity emerging in performance as properties below 59th Street posted 6% annual growth while those above 59th Street declined 3%, indicating strength in Midtown and Downtown versus Upper Manhattan
Luxury segment resilience continues with high-end transactions maintaining activity, including a $14.5M penthouse at One High Line, demonstrating sustained ultra-high-net-worth demand despite broader market softening
Mid-tier price compression intensifying as the $1M-$3M segment contracted 23% while sub-$1M properties declined only 12%, suggesting affordability pressures are pushing activity toward entry-level luxury
Product mix rebalancing underway with resale condominiums gaining 10% while new development and co-op sales declined, reflecting buyer preference for established inventory over new construction
WEEKLY REPORT: Aug 23 to 29, 2025
BROOKLYN | CONDOS & CO-OPS
Significant market contraction accelerating with contract signings down 18% year-over-year and 3% year-to-date, indicating Brooklyn's post-pandemic boom is definitively reversing
Luxury market experiencing sharp correction as transactions above $1M plummeted 48% while sub-$1M activity remained stable, suggesting high-end Brooklyn pricing may have reached unsustainable levels
Resale condo segment under severe pressure with sales dropping 50% year-over-year to the lowest third-quarter figure, pointing to potential inventory overhang and pricing adjustments ahead
Widespread geographic weakness with four of eight submarkets declining year-over-year, indicating the slowdown is broad-based rather than concentrated in specific neighborhoods
Premium pricing power eroding despite the quarter's highest sale reaching $5.95M in Bergen Brooklyn, the overall trend suggests buyers are becoming increasingly price-sensitive across luxury segments
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.