MANHATTAN & BROOKLYN | Mar 2025

Buzzing.

February was a strong month for both Brooklyn and Manhattan—Brooklyn saw its most active February in three years, and Manhattan contracts hit a three-year high. Inventory remains tight, prices are edging up, and buyers are moving fast, especially in the luxury market. Here’s what you need to know!

Be sure to keep an eye out for the next newsletter, including weekly scoops.

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THE MONTHLY REPORT: FEB
MANHATTAN | CONDOS & CO-OPS

• Strong Sales Activity: Manhattan contract signings increased by 3% year-over-year and 19% from January, reaching a three-year February high of 960 contracts.

• Luxury Market Strengthens: Sales in the $3M to $5M range grew by 12%, while contracts for properties over $5M surged 29%, driven by new developments.

• Faster Sales: Average days on market dropped by 12% annually to 135 days, as buyers moved quickly on well-priced properties.

• Inventory at Historic Low: Manhattan’s listed inventory declined 4% year-over-year, reaching a nine-year February low, while price per square foot edged up 2% to $1,897.

THE MONTHLY REPORT: FEB
BROOKLYN | CONDOS & CO-OPS

• Most Active February in Three Years: Brooklyn saw a 1% year-over-year increase in contract activity, with 310 contracts signed—the highest February total in three years.

• Condo Market Growth: Condominium contracts rose by 5% annually, with the $2M to $3M segment experiencing a 37% increase in activity.

• Inventory on the Rise: Active listings increased by 10% compared to last year, marking the tenth consecutive month of inventory growth, though overall supply remains historically low.

• Pricing Trends: The average price per square foot in Brooklyn rose by 2%, continuing a five-month upward trend. Some properties sold for over 10% above the asking price.

THE MONTHLY REPORT: FEB
MANHATTAN | $5M+ CONDOS & CO-OPS

• February 2025 had 85 contracts over $5M, up 29% year-over-year, the third strongest February in ten years.  New development contracts asking over $5M more than doubled annually. 

• Active listings declined 11% year-over-year.  Strong contract activity reduced active listings over $5M by double digits year-over-year to the lowest level since December 2021.

• Days on market increased 12% year-over-year. Resale condo and resale co-op marketing time rose annually, but new development saw a decline versus a year ago.

• Average asking price per square foot fell 8% versus 2024 to $2,945. This month’s annual decline was due to a double-digit drop in the share of contracts asking over $3,000 per square foot versus 2024.

The Orchid Show: Mexican Modernism
Experience the vibrant fusion of nature and art at The New York Botanical Garden's The Orchid Show: Mexican Modernism, running now through April 27th. Expect to see a stunning display of orchids inspired by the bold designs of architect Luis Barragán. Be sure to grab your tickets in advance at the link below.
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Affordable Art Fair
The Affordable Art Fair New York brings together a diverse collection of contemporary artwork from top local, national, and international galleries. From March 19th - 23rd at the Metropolitan Pavilion, explore and collect stunning, budget-friendly pieces from both emerging talents and renowned artists. Get your tickets and preview the galleries at the link below.
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Attend a Candlelight Concert
Experience the magic of live music in a cozy, candlelit setting at New York's Candlelight Concerts. From classical pieces to modern favorites, these intimate performances take place in some of the city's most beautiful venues. Don't miss the chance to enjoy this unforgettable atmosphere!
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Searching for the perfect spot to escape the last winter chill and enjoy live jazz in NYC? From iconic venues with rich history to cozy spots offering intimate vibes, we've rounded up the best places to warm up and experience the city's incredible jazz scene. Check out our top picks and let the music heat up your night!

• Minton's Playhouse - Harlem

• Close up - Lower East Side

• St. Mazie Bar & Supper Club - Williamsburg

• Smoke Jazz Club - Upper West Side

• Smalls Jazz Club - Greenwich Village

• Ornithology Jazz Club - Bushwick

• Terraza 7 - Elmhurst