New development condo sales in New York City slowed in 2025, with contract signings down about 11% year over year across Manhattan and Brooklyn. The weakness wasn’t driven by fading demand, but by a lack of appealing new product. Buyers remained selective, favoring well-located, well-priced buildings and choosing to wait rather than compromise. Re-launched developments performed strongly after meaningful price resets, confirming that realistic pricing can unlock demand.

Inventory continued to shrink, further limiting options, and looking ahead, the pipeline for 2026 and 2027 remains thin, suggesting the demand–supply imbalance is likely ...