Real Estate Trends

New transit-oriented Cypress Hills project has 200+ affordable units

Credit: Think! Architecture + Design PLLC6

December 24, 2025

New transit-oriented Cypress Hills project has 200+ affordable units

By Aaron Ginsburg

A mixed-use residential project in Cypress Hills, set to deliver more than 200 affordable apartments just steps from the subway, moved ahead this week. On Tuesday, a joint venture of Slate Property Group, Thorobird Companies, and Bangladeshi American Community Development & Youth Services (BACDYS) closed on 570 Eldert Lane, a transit-oriented development that will add 213 homes adjacent to the A train at Grant Avenue. The property will also include 10,000 square feet of community space operated by BACDYS, along with on-site supportive services from the non-profit Urban Pathways.
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$129M deal at 80 Clarkson could be downtown Manhattan’s biggest

Rendering courtesy of DBOX

December 18, 2025

$129M deal at 80 Clarkson could be downtown Manhattan’s biggest

By Devin Gannon

One of New York City's best-selling buildings of the year is about to set a real estate record. As first reported by The Real Deal, a contract has been signed for a $129 million deal at 80 Clarkson Street, a new condo development in the West Village by Zeckendorf Development and Atlas Capital Group. The sale, if it closes at that price, would become the most expensive deal below 14th Street, surpassing a Greenwich Village townhouse that sold for $72.5 million in 2024.
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MTA puts 350,000 square feet of air rights in Lower Manhattan up for sale

Credit: Metropolitan Transportation Authority/Patrick Cashin on Flickr

December 15, 2025

MTA puts 350,000 square feet of air rights in Lower Manhattan up for sale

By Aaron Ginsburg

The Metropolitan Transportation Authority is selling over 300,000 square feet of landmarked air rights in Lower Manhattan. As first reported by The Real Deal, the MTA issued a request for proposals (RFP) on Friday seeking a buyer for up to 350,000 square feet of air rights tied to the Fulton Center and the neighboring Corbin Building. Buyers must acquire the rights either through City Planning Commission certification or a zoning lot merger with an adjacent property.
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Real Estate Trends

See inside Queens’ tallest tower, a 70-story rental with a massive ‘backyard’

Renderings courtesy of Binyan Studios

December 15, 2025

See inside Queens’ tallest tower, a 70-story rental with a massive ‘backyard’

By Aaron Ginsburg

The tallest tower in Queens is getting ready for its first residents. The Orchard is a 70-story rental in Long Island City with 824 apartments and more than 100,000 square feet of amenities, including a massive backyard space with a swimming pool and apple orchard. The building, which topped out last November and launched a housing lottery earlier this month, will officially begin leasing next month, with move-ins expected in February. Ahead of the launch, 6sqft got an exclusive look at The Orchard, from the incredible outdoor space to its sky-high New York City views.
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Whole Foods to open first Queens location in Ridgewood

Streetview of 55-60 Myrtle Avenue © 2024 Google

December 12, 2025

Whole Foods to open first Queens location in Ridgewood

By Aaron Ginsburg

Queens is set to get its first-ever Whole Foods, as the popular grocery chain signed a lease in Ridgewood this week. As first reported by Crain's, the Amazon-owned supermarket on Wednesday signed a 15-year deal for 28,000 square feet inside the former Beaux-Arts bank building at 55-60 Myrtle Avenue. The grocery store will take over a space previously occupied by Rite Aid, which filed for bankruptcy for the second time in May.
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Real Estate Trends

Manhattan median rent prices set new highs in November, reaching nearly $4,800/month

The West Village. Photo by Ana Lanza on Unsplash

December 11, 2025

Manhattan median rent prices set new highs in November, reaching nearly $4,800/month

By Aaron Ginsburg

Manhattan rents hit new highs again in November, with the median price almost reaching $4,800, a 13 percent year-over-year jump, according to a new report released this week. Prepared by appraisal firm Miller Samuel for Douglas Elliman, the November 2025 Elliman Report shows the median rent price rose more than 3 percent from $4,600 in October. The borough’s average rent climbed to a record $5,686, up nearly 1 percent from last month and almost 13 percent annually, while the average price per square foot reached a new high of $95 after rising 5.6 percent since October and 10.1 percent from last November.
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Real Estate Trends

Eliot Spitzer’s planned Fifth Avenue condo tower gets height boost

All renderings courtesy of Spitzer Enterprises

November 19, 2025

Eliot Spitzer’s planned Fifth Avenue condo tower gets height boost

By Aaron Ginsburg

Former New York Gov. Eliot Spitzer's proposed Upper East Side condo project, which would replace a 1970s-era rental building with 26 luxury residences, just got a slight height boost. On Tuesday, the Landmarks Preservation Commission approved Spitzer's proposal to raise his planned development at 985 Fifth Avenue from 19 to 20 stories using City of Yes zoning reforms, replacing a 25-story rental building approved for demolition in 2023. Other approved changes include a textured limestone facade, a rear yard extension, and the removal of an adjacent public plaza.
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Extell to buy $36M in air rights from Midtown’s St. Thomas church

Streetview of 678 Fifth Avenue © 2024 Google

November 17, 2025

Extell to buy $36M in air rights from Midtown’s St. Thomas church

By Aaron Ginsburg

Extell Development has bought $36 million in air rights from a historic Midtown church as it continues to assemble large development sites across the neighborhood. According to Crain's, the developer has entered into a contract to acquire 123,000 square feet of air rights from the landmarked St. Thomas Church at 678 Fifth Avenue. It’s unclear which project Extell plans to use the rights for, but the firm is working on several nearby projects, including the former Wellington Hotel site and 655 Madison Avenue.
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Real Estate Trends

230-unit housing project coming to site of abandoned Astoria megaproject

Streetview of 42-08 35th Avenue © 2022 Google

November 7, 2025

230-unit housing project coming to site of abandoned Astoria megaproject

By Aaron Ginsburg

A site in Astoria once slated for a 3,200-unit development will now be home to a handful of residential buildings with just over 230 apartments. As first reported by Crain's, the Hakimian Organization and CW Realty have filed plans for a 16-story building at 35-17 42nd Street and a 13-story building at 42-08 35th Avenue, on the former site of the $2 billion Innovation QNS megaproject. The ambitious housing project was scrapped in September amid financing challenges following the expiration of the 421-a tax break and uncertainty surrounding its replacement, the 485x program.
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Barbara Corcoran buys Carnegie Hill penthouse for $16M

Streetview of 1016 Fifth Avenue © 2017 Google

October 28, 2025

Barbara Corcoran buys Carnegie Hill penthouse for $16M

By Aaron Ginsburg

October has been an eventful month in real estate for Barbara Corcoran, founder of the Corcoran Group and star of "Shark Tank," as the mogul adds a penthouse to her portfolio. As first reported by The Real Deal, and confirmed by property records, Corcoran purchased a penthouse at 1016 Fifth Avenue in Carnegie Hill for $16 million in an off-market deal. Just three weeks earlier, she sold her home at 1158 Fifth Avenue for $1.5 million over ask after just one day on the market.
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Popular Articles

Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

Hotel Wellington. Photo by Jazz Guy via WikiCommons

October 24, 2025

Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

By Aaron Ginsburg

Extell Development wants to nearly triple the height of its proposed tower at the site of Midtown's former Wellington Hotel and make it residential. As first spotted by Crain's, Gary Barnett's firm filed plans with the Department of City Planning this month seeking to expand its project at 871 7th Avenue from a 27-story hotel to a 71-story mixed-use tower with 130 residential units, likely condos, and 156 hotel rooms. Extell is pitching upgrades to the nearby 50th Street subway station in exchange for a zoning bonus to allow for the 1,050-foot-tall tower.
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Prada plans Fifth Avenue skyscraper with ultra-luxury apartments

Streetview of 720-725 Fifth Avenue © Google 2025

October 17, 2025

Prada plans Fifth Avenue skyscraper with ultra-luxury apartments

By Devin Gannon

Prada is teaming up with Related to build a mixed-use skyscraper at 720-724 Fifth Avenue, with a store on the ground level and office space and luxury apartments above, as first reported by Commercial Observer. The building may be attached to the Aman New York, a 26-story hotel-condo next door, and share the gilded tower's flashy amenities.
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Path to profit: Why Jersey City condos are competing with Brooklyn brownstones

99 Hudson Street is the tallest building in New Jersey. There are over 780 condos across 79 floors; current availabilities start at $778,000. Photo courtesy of COA 99 Hudson, LLC

October 16, 2025

Path to profit: Why Jersey City condos are competing with Brooklyn brownstones

I lived in New York City for 15 years and swore I’d never leave. But when my then-fiance and I found ourselves crammed into an Upper West Side studio (along with two rambunctious cats) when the pandemic hit, we knew we had to make a move. And when we came across a $2,600/month one-bedroom apartment in a brand-new luxury building in Jersey City—complete with floor-to-ceiling windows overlooking the lower Manhattan skyline, two outdoor pools, barbecue grills, and a gym—we simply couldn’t resist.
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Barbara Corcoran sells UES penthouse $1.5M over ask

Photography by Melanie Greene, Greenehouse NYC for The Corcoran Group

October 10, 2025

Barbara Corcoran sells UES penthouse $1.5M over ask

By Devin Gannon

Barbara Corcoran has sold her Upper East Side penthouse for $1.5 million over the asking price. The real estate pro and "Shark Tank" star first listed the home for $12 million in May. After reportedly finding a buyer in one day, the Central Park-facing co-op at 1158 Fifth Avenue closed this week for $13.5 million, as Realtor.com first reported.
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From TikTok to townhouse: How social media is driving NYC’s real estate trends

Photo by Nicolas Solerieu on Unsplash

October 9, 2025

From TikTok to townhouse: How social media is driving NYC’s real estate trends

As much as I hate to admit it, TikTok and Instagram know me well. My feeds get flooded with new-to-market apartment listings and swoon-worthy townhouse tours—and I love every second of it. But this got me thinking: How is social media affecting the real estate market in New York City? After all, a lot of people scrolling aren’t real estate journalists like me. Many are actually in the market for a new home. And after speaking with some of the city’s top agents, it's clear those videos and reels are making a huge impact on the market.
do likes turn into sales?

Real Estate Trends

Pacific Park gets new developers and $12M for affordable housing

Barclays Center & Pacific Park in 2020. Photo by CityLimitsJunction via WikiCommons

October 9, 2025

Pacific Park gets new developers and $12M for affordable housing

By Aaron Ginsburg

Pacific Park, Brooklyn’s years-long stalled megadevelopment, could finally move forward after securing new funding and a fresh development team. This week, Cirrus Real Estate and LCOR acquired the development rights to six Brooklyn rail yard sites at a foreclosure auction, after Greenland USA, the project’s former developer, defaulted on nearly $350 million in loans, as first reported by The Real Deal. The new developers have also contributed $12 million to an affordable housing fund, compensating for penalties that were not enforced against Greenland USA for failing to complete 876 affordable apartments by May 2025. The move represents a significant step forward for the project, which was launched more than two decades ago.
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Midtown office tower to become 107 studio apartments, first major conversion under rezoning

Streetview of 29 West 35th Street, © Google 2025

October 8, 2025

Midtown office tower to become 107 studio apartments, first major conversion under rezoning

By Devin Gannon

An underutilized Midtown office building is set to become over 100 studio apartments in its next life. Infinite Global Real Estate and Buttonwood Development, in partnership with 400 Capital Management, have acquired 29 West 35th Street, with plans to turn the 12-story tower into a rental building. The project marks the first major office-to-residential conversion in the neighborhood following the Midtown South rezoning, approved by the City Council this summer.
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Latest Midtown office conversion to bring nearly 450 apartments near Bryant Park

Photo by Jim.henderson on Wikimedia

October 7, 2025

Latest Midtown office conversion to bring nearly 450 apartments near Bryant Park

By Devin Gannon

Midtown's office-to-residential conversion boom continues. Developer Vanbarton Group announced last week it had acquired the building at 6 East 43rd Street after securing a $300 million loan from Brookfield. Vanbarton plans to convert the 27-story tower, known as the Emigrant Savings Bank building, into 441 apartments, including 111 affordable units.
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1,600-foot-tall office tower 350 Park Avenue gets unanimous City Council approval

350 Park Avenue © DBOX for Foster + Partners

October 2, 2025

1,600-foot-tall office tower 350 Park Avenue gets unanimous City Council approval

By Aaron Ginsburg

Billionaire Ken Griffin’s proposed 1,600-foot office tower at 350 Park Avenue will be built after the City Council unanimously approved the building last week. The Council voted 48-0 to approve the 62-story supertall building developed by Vornado Realty Trust, Citadel, and Rudin Management and designed by Norman Foster's Foster + Partners. The tower will deliver 1.8 million square feet of office space anchored by Griffin’s Citadel and Citadel Securities, plus a new public concourse. The huge building will rise 200 feet taller than JPMorgan Chase’s headquarters at 270 Park Avenue, also designed by Foster + Partners.
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IKEA to open small-format store in Soho

Photo courtesy of Ingka Investments

October 1, 2025

IKEA to open small-format store in Soho

By Aaron Ginsburg

Soho is getting an IKEA. The Scandinavian furniture retailer purchased a six-story commercial building at 529 Broadway from billionaire Jeff Sutton’s firm, Wharton Properties, for $213 million, according to property records. Ingka Group, which owns most IKEA stores worldwide, plans to open a 25,000-square-foot store on the building’s first and second floors, as The Real Deal first reported, continuing its push for smaller-format locations.
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Real Estate Trends

Sabrina Carpenter buys Tribeca penthouse for $9.95M

All photos courtesy of Melanie Greene

September 23, 2025

Sabrina Carpenter buys Tribeca penthouse for $9.95M

By Aaron Ginsburg

Pop star Sabrina Carpenter is the latest celebrity to scoop up a home in a Tribeca landmark. The singer-songwriter paid $9,950,000 for a duplex penthouse at 108 Leonard Street, as first reported by The Real Deal. Designed in the 1890s by McKim, Mead & White, the Beaux-Arts building served as the headquarters of the New York Life Insurance Company and has been recently restored by Jeffrey Beers International and converted into luxury condos. Carpenter, who is currently touring behind her new album "Man's Best Friend," bought the home from Cassandra Grey, founder of beauty brand Violet Grey.
details here

Construction to turn vacant Forest Hills hospital into 145 affordable apartments begins

Photo by Peter Wilk/Wilk Marketing Communications

September 17, 2025

Construction to turn vacant Forest Hills hospital into 145 affordable apartments begins

By Aaron Ginsburg

Construction has begun on an intergenerational affordable housing development at the site of a long-vacant hospital in Forest Hills. Foxy Development and Selfhelp Realty Group on Wednesday announced work has begun on The Perennial, a mixed-use project that converts the existing Parkway Hospital building, inactive since 2008, into 145 affordable apartments for seniors and families. Developers describe the $150 million project as one of New York's most complex public-private development projects in recent history and the neighborhood’s first deeply affordable senior housing project.
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Park Slope townhouse sells for $13.9M, a new neighborhood record

All photos courtesy of Kevin Scott/ Brown Harris Stevens

September 16, 2025

Park Slope townhouse sells for $13.9M, a new neighborhood record

By Aaron Ginsburg

A Park Slope townhouse has sold for $13.9 million, marking the neighborhood’s priciest sale ever. As first reported by the Wall Street Journal, the five-story property at 535 1st Street, designed by architecture and design firm Leroy Street Studio, hit the market for $18 million in May 2024, as 6sqft previously reported.
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Red brick and terra cotta-clad condo in Greenwich Village launches sales, from $1.4M

Renderings courtesy of MARCH. Model unit photos courtesy of Evan Joseph

September 16, 2025

Red brick and terra cotta-clad condo in Greenwich Village launches sales, from $1.4M

By Aaron Ginsburg

A new boutique residential building has launched sales this week, bringing luxury living to the crossroads of Greenwich Village and Chelsea. Designed by BKSK Architects, The Village West, at 525 Sixth Avenue, rises 14 stories and pays homage to the neighborhood’s architectural heritage with a red-brick facade, terracotta details, oversized windows, and terraces and balconies woven into its design. Prices range from $1.4 million for a one-bedroom to $6.5 million for a four-bedroom.
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Trump Organization loses bid for Central Park’s Wollman Rink

Credit: Yomex Owo on Unsplash

September 11, 2025

Trump Organization loses bid for Central Park’s Wollman Rink

By Aaron Ginsburg

The Trump Organization's bid to reclaim control of Central Park's iconic Wollman Rink has failed. As first reported by The City, the Department of Parks and Recreation submitted a limited liability corporation that Related created to submit a proposal for the rink to the Department of Investigation for a background check. The president's company operated the rink for many years before former Mayor Bill de Blasio canceled the contract in 2021 following the January 6 riot at the Capitol. According to The City, the proposed agreement will still need to go through a review committee.
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