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A blog from CityRealty (Links below will take you to the 6sqft site)

Market Insight

Between January 8 and January 14, 374 Manhattan apartments were listed for sale at a median price of $1.99M ($1,745/ft2) for condos and $800K for co-ops. Find below some of our picks of the most attractive apartments to hit the market this past week. Among them are a 3-bed at 212 Fifth Avenue, a...
As many New Yorkers struggle to keep up with mortgage payments and related homeownership costs due to the pandemic, there is good news on the horizon in 2022. As announced in December, Governor Kathy Hochul is launching the New York State Homeowner Assistance Fund (NYS HAF). At a press conferenc...
As Hudson Square moves closer to becoming a high-end live-work-play community, some manufacturing buildings of yesteryear have been razed to make way for a spiffy set of modern constructs. The latest such example is 100 Vandam Street: After entrepreneur Jeff Greene acquired the gorgeous albeit un...

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Pricing based on the past 12 month sales
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For the second quarter of 2021, the average sale price of Manhattan* apartments rose 10% Y-O-Y when compared to Q2 2020 and up 18% when compared to Q1 2021. The average sale price for all residential units, excluding townhouses, was $2.02 million, up from $1.84 million recorded in Q2 2020. The a...
In spite of the pandemic, Long Island City continues to pump out new projects faster than pretty much any neighborhood in the country. According to a recent study by RentCafe, LIC's Hunters Point district ranks third in terms of number of apartments under construction. Now with its rental market ...
At 1.1 million square feet and spanning a full city block, 85 Jay Street is DUMBO’s largest residential development. The condos dubbed Front & York comprise 408 units and are situated at 85 Jay Street, while the rental component, Magnolia DUMBO, comprises 320 units and is situated at 160 Front St...
Updated 1/12/2022 with new lotteries in East Harlem, Williamsburg, Bushwick, Prospect Heights, Astoria, Jamaica, and Fordham. In Mayor Bill de Blasio’s “tale of two cities” speech, he cited housing and homelessness as examples of the stark inequality in New York City. As his tenure as mayor draw...
Like a miracle, in a sea of listings you discover a two bedroom that is not only under $600,000 but also under $300,000. Better yet, it’s in a desirable neighborhood, has recently been renovated and comes with a den, a large living room and an eat-in kitchen. What’s the catch? It is nearly certa...
Many of us had hoped 2022 would get off to a normal start, but that was before the Omicron variant got into the mix. Hospitalizations and deaths are on the rise, and a statewide mask mandate has been extended to February 2. After Mayor Eric Adams decided to keep schools open after the winter brea...
At a time when soaring new towers are taking up much of the spotlight and vying for the title of Brooklyn's tallest, a steady stream of smaller developments are taking shape throughout the borough. Many long-time Brooklynites contest that these projects are the bastions of gentrification, usherin...
More now than ever, real estate along the perimeter of Manhattan's green spaces can only be afforded by the very wealthy. Central Park certainly takes the cake, and living near it has been a status symbol since shortly after its 1876 completion. Despite stretching some two-and-a-half miles with h...
In a 2018 interview with CityRealty, HAP Investments founder Eran Polack spoke optimistically of the potential of Chelsea, calling it "a healthy and stable market." Three years later, a report in The New York Times found that Chelsea is among the leading areas welcoming new and returning resident...
While Long Island City would appear to be dominated by soaring new skyscrapers, the seemingly endless wave of new construction also includes a number of more intimate boutique condominiums. The latest entrant is Vernon47, a 15-unit condominium at 47-01 Vernon Boulevard in the Hunter’s Point South...

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