While much of the U.S. real estate market is slowing down due to high interest rates and economic uncertainty, Manhattan is experiencing a surge in sales. In the second quarter of 2025, residential transactions reached their highest level in the past two years, marking a 16.6% increase compared to the same period in 2024.
Cash deals accounted for a record 69% of all transactions, reflecting the growing presence of affluent buyers who are less affected by mortgage rates and driven by wealth transfers, …
by Riccardo Ravasini 
South Florida’s condo market is under mounting pressure, especially for aging buildings. A 1,358-square-foot (126 m²) Palm Beach unit in a 60-year-old building was recently cut from $849,000 to $649,000—symbolic of a broader slowdown. While showings remain high, actual buyers are scarce.
The causes are structural. Nearly 87% of the 25,000+ condos for sale are over 30 years old, and since the Surfside collapse, new laws require costly repairs and full reserves—making financing difficult. Many owners struggle to afford special assessments.
International demand, once a key stabilizer, …
by Riccardo Ravasini 
After years of downsizing, tech companies are back in Manhattan’s office market. OpenAI just signed a 90,000-square-foot lease at the Puck Building in Soho—its first NYC office—while fintech firm Chime took 84,000 square feet in Flatiron and AI startup AlphaSense grabbed 50,000 in Hudson Yards.
These moves mark the strongest start for tech leasing in 25 years, with over 1.6 million square feet (148,645 m²) leased in Q1 and April alone, nearly matching all of 2023. Driving the rebound: renewed VC funding, AI momentum, and shifting work habits. More firms are committing to hybrid models, with …
by Riccardo Ravasini 
Just hours after the FARE Act took effect, rental listings on StreetEasy dropped by over 1,000.
The new law, which shifts broker commission payments from tenants to landlords, is already reshaping New York’s rental market. Some landlords are pulling listings to avoid legal ambiguity, while others are raising rents to offset broker costs.
One-bedroom units that were $5,000 are now being priced at $5,400. Rent-stabilized landlords, who can’t hike rents, are especially strained. While for some this law risks reducing transparency and hitting less well-off tenants, for …
by Riccardo Ravasini 
The contract activity in Manhattan increased by 3.4% year over year, with 1,036 contracts signed. The median sale price rose to $1.25M, marking a 4.5% annual increase. Listing inventory totaled 7,338, just -1.4% from last year, while pending sales rose by 25.5% year over year, with 3,376 listings in contract. The Market Pulse (pending-to-active ratio) is 0.46, suggesting a neutral market.
Currently, above 0.5 is considered favorable to the seller, and below 0.3 is favorable to the buyer.
Luxury Segment
During the week ending June 15th, a total of 37 contracts were signed for units priced at $4 …
by Riccardo Ravasini