Dear Friends,
As we head into July, Manhattan is entering its typical summer slowdown. New listing activity often eases as people travel, but motivated buyers remain active, and the quieter pace can create opportunities for those prepared to move. On the sales side, May contract activity was ahead of last year, while inventory remained below last year’s levels. Buyers are still weighing interest rates, monthly carrying costs, and overall value, so pricing strategy matters. Properties that are priced correctly and show well are still getting attention; listings priced too aggressively are taking longer. Nothing is new here.
Policy is part of the market conversation right now. The rent freeze applies to rent-stabilized apartments, not market-rate rentals, and while it may help some tenants in the short term, it also puts added pressure on landlords managing rising insurance, taxes, maintenance, and operating costs. The new pied-à-terre tax is also worth understanding, particularly because it is tied to Department of Finance valuations, which can differ significantly from resale market value. As with any new administration, buyers, sellers, and owners are watching how policy may affect the market. But New York’s appeal has always been bigger and more lasting than any one political cycle. The city’s energy, culture and global importance continue to make Manhattan one of the world’s most compelling places to live, invest, and call home.
On a personal note, I am delighted to share that I was recognized by RealTrends Verified 2026 as one of New York City’s top real estate professionals and among the top 1.5% of real estate professionals nationwide. I am deeply grateful to my clients, friends, and referral partners for your continued trust and support. I look forward to being in close touch.
