NYC Housing Market - SEPTEMBER 15-21, 2025 (OLSHAN)

By: Sydney Harewood. LRSP, NYC
Broker: LEVEL
5 West 37th Street
New York, NY 10018
www.nycexclusiveapts.com 
"Your Premier Bridge to Manhattan Living."
#NYCexclAPTS
Phone: 646-535-3819
Email: sharewood@levelgroup.com

EXECUTIVE SNAPSHOT

Luxury rebound, Manhattan edition. For the week Sept 15–21, 2025, Manhattan’s $4M+ market snapped back to 21 signed contracts—almost double the prior week’s 11. Condos led the charge (15 deals), with co-ops (5) and one townhouse rounding out the slate. The top contract: a $22.5M Tribeca condo at 70 Vestry; median was $6.0M, average $6.9M. Typical listings logged ~18+ months on market and closed ~7% below original ask—clear signals that price realism = velocity. (The Real Deal)

• Volume: 21 contracts vs. 11 prior week (momentum shift). (The Real Deal)
  
• Mix: 15 condos • 5 co-ops • 1 townhouse (condos still the workhorse). (The Real Deal)
  
• Pricing: Median $6.0M, Avg $6.9M; discounts ≈7% from OLP. (The Real Deal)
  
• Top sale: 70 Vestry #5B, ask $22.5M (amenity-rich, river vistas = buyer magnet). (The Real Deal)
  

Audience → Transformation Formula
 Any New Yorker (buyer, renter, or investor) can navigate today’s wobbling headlines and score better outcomes by acting on fresh weekly data (price cuts, DOM, concessions) because knowing where momentum and leverage truly sit solves the “should I move now or wait?” dilemma—with clarity, acumen, and verve.

BOROUGH DEEP-DIVE

MANHATTAN (Luxury, $4M+) — The Main Event

• Contracts: 21 (up from 11). (The Real Deal)
  
• Property mix: Condos 15, Co-ops 5, TH 1 (condos dominate post-Labor Day). (The Real Deal)
  
• Pricing & speed: Median $6.0M, Avg $6.9M; ~18+ months DOM; ~7% avg discount from original list. Translation: buyers want value, sellers who accentuate realism win. (The Real Deal)
  
• Neighborhood color: Top contract in Tribeca (70 Vestry). West Village townhouse saw bidding war—yes, even in a price-sensitive week. (The Real Deal)
  

BROOKLYN (Supplemental pulse)

• Rents: High but softening in select luxe pockets (e.g., DUMBO medians down ~8.2% YoY; supply & concessions up). Opportunity for “rent-then-buy” ladders. (New York Post)
  

QUEENS (Supplemental pulse)

• Rents: Avg rent up ~4.6% YoY; some neighborhoods (e.g., Forest Hills) posting notable annual gains, but monthly moves are mixed—suggesting micro-markets you can whet your strategy on. (QNS)
  

Limitations: Olshan tracks Manhattan contracts ≥$4M only. Brooklyn/Queens insights above reference recent rental reports and are context, not same-week luxury contract data. (Miller Samuel Appraisers)

FORWARD SIGNALS (Rates • CPI • Demand • Seasonality)

• Rates & Applications: After the Fed’s September cut, mortgage applications jumped ~30% w/w (week ending Sept 12) as rates eased—purchase apps +2.9%: a small, perceptive lift for demand at the margins. (MBA)
  
• Inflation: Aug CPI +0.3% m/m; YoY 2.7–2.9% range; Cleveland Fed nowcast pegs Sept CPI ~3.0% YoY—not mint, not meltdown. (Bureau of Labor Statistics)
  
• Fed Path: Post-cut, officials are cautious; dots imply limited additional easing through year-end—mortgage rate drift lower, not plunge. Plan, develop, and deliver assuming sticky-ish rates. (Federal Reserve)
  
• Seasonality: Late-September often re-energizes luxury showings; price-cut share & DOM guide the tempo of a minuet—measured, not frantic.
  

SIMPLE VISUALS

Contracts by Property Type (Sept 15–21, 2025)

• Condos: ███████████████ 15
  
• Co-ops: █████ 5
  
• Townhouses: █ 1 (The Real Deal)
  

Pricing Snapshot

• Median ask: $6.0M • Average ask: $6.9M • Top: $22.5M
  
• Typical discount from OLP: ~7% • Typical DOM: ~18+ months. (The Real Deal)
  

PLAYS FOR PROS

INVESTORS (seek ROI, yield, and “apogee” risk-adjusted entry)

1. Target “priced-right” resales (≥6 months DOM + ≥5% cumulative cut).
   

• Action: Pull a micro-CMA of last 90 days within the building + 3 comps; model IRR at two exit caps (base/soft).
  
• Tools: DOM ladder, price-cut log, rent-roll comps (Elliman/MNS), 5-yr capex plan. (Miller Samuel Appraisers)
  

2. Amenity-rich, river/park vista units (like 70 Vestry analogs).
   

• Reason: Liquidity premium endures; downside cushioned by lifestyle “with all the perks.”
  
• Action: Offer at ~6–8% below original list if DOM > 12 months; earnest, data-backed. (The Real Deal)
  

3. Lease-up Alpha in soft pockets (DUMBO, LIC).
   

• Action: Acquire or partner on units benefiting from concessions now, step-ups later; underwrite to normalized rents. (New York Post)
  

BUYERS (guidance, leverage, clarity)

1. Leverage the week’s rebound—but keep your cool.
   

• Action: Go in prepared (pre-underwrite, attorney ready). Bid within 2–4% of fair value when comps are tight; stretch only for “sumptuous” uniqueness. (The Real Deal)
  

2. Use DOM + discount math.
   

• Action: For listings >12 months DOM with ≥7% cumulative cut, propose terms plus repair/credit menu—refinement over bravado. (The Real Deal)
  

3. Rate-lock strategy.
   

• Action: Price your payment at +25 bps cushion (Fed signals limited cuts). If rates dip, you score! If not, you’re still on the ball. (Reuters)
  

SELLERS (speed, positioning, “media-savvy”)

1. Re-set to the market that exists.
   

• Action: If you’re >90 days stale, re-photo (sun-kiss, day-bright), tighten ask to within 2–3% of last closed comp; highlight unique light/plan/amenities.
  

2. Front-load diligence to reduce friction.
   

• Action: Provide building financials, alteration policies, engineer summary upfront—streamline your delivery process, reduce retrades.
  

3. Concession calculus.
   

• Action: Consider being the first in your stack to cut 1–2% or offer closing credit—own the headline; don’t be the deer in headlights.
  

RISKS & CAVEATS

• Data scope: Olshan = Manhattan, $4M+ contracts; not citywide or sub-$4M. Supplemental borough items draw on rental market sources; not same-week luxury contracts. (The Real Deal)
  
• Macro drift: Inflation progress is uneven; Fed’s tone is cautious—expect rate wobble, not free-fall. Budget for longer marketing windows. (Bureau of Labor Statistics)
  
• Stock market sensitivity: Trophy segment remains kinetic with financial-market swings—The Twist. (Expect the unexpected.)
  

SOURCES

• Olshan Luxury Market Report, week of Sept 15–21, 2025 (summary via The Real Deal): contracts, pricing, mix, DOM, discounts. (The Real Deal)
  
• MBA Weekly Survey (week ending Sept 12, 2025): applications +29.7% w/w; purchases +2.9%. (MBA)
  
• BLS CPI (Aug 2025) and Cleveland Fed Nowcast (Sept preview). (Bureau of Labor Statistics)
  
• Fed FOMC statement & officials’ post-meeting remarks (rate path caution). (Federal Reserve)
  
• Elliman/Miller Samuel Rental – Aug 2025 (concessions, bidding-war share); StreetEasy & MNS borough rental snapshots; DUMBO trend piece. (Miller Samuel Appraisers)
  

CALL-TO-ACTION

—
Work with a data-driven NYC advisor.
 Sydney “Syd” Harewood — Licensed Real Estate Salesperson, LEVEL Group
Call/Text: 646-535-3819 • Email: sharewood@levelgroup.com
Site: https://www.nycexclusiveapts.com — Your Premier Bridge to Manhattan Living
 Follow updates on X: @Sydharew
Office: LEVEL Group, 5 West 37th St, 12th Floor, New York, NY 10018
—

Information is listing-based and for educational purposes; not legal, tax, or investment advice. Verify building financials and local regulations before transacting.

Parting vibe: The market’s alive—not euphoric, not bleak. If you grasp the numbers and accent your strategy with clarity, you can elevate outcomes. Manhattan’s luxury just did The Twist; let’s take it up another notch—toute la journée, toute la nuit. Word!

—

Sydney Harewood is a real estate professional with a passion for NYC’s architectural gems. For inquiries, call or message Syd at 📞646-535-3819. Experience the finest in NYC real estate with Syd’s expert guidance and deep knowledge of the city’s most exquisite properties.

We hope you found this information helpful. If you have any other questions or need more details, feel free to contact us.