MANHATTAN

In Manhattan, 593 new listings entered the market last week, up 10% from the previous week.

202 Manhattan contracts were signed last week, down by 12 contracts from the previous week.

30 Manhattan contracts were signed at $4M and above last week. Condos outsold co-ops 22-7, with one townhouse in the mix.

Noteworthy new contracts last week were: 

1.) 200 EAST 75TH STREET, PH4 asking $19,700,000.

2.) 200 EAST 75TH STREET, PH2 asking $17,500,000.

3.) 211 WEST 84TH STREET, THWEST asking $17,000,000.

The prior week — March 9 through 15 — saw just 26 contracts signed at $4 million and above, a significant pullback from the 43 that closed the week before, which had been the strongest single week for luxury contracts in nearly a year. Manhattan's luxury segment has been running well above its historical weekly averages through the first quarter, and the slight week-to-week fluctuations are less telling than the trend line.

The co-op/condo split this week is worth watching. Co-op contracts have been running down 15% year-over-year.

The macro backdrop deserves a mention. Equities fell for a third consecutive week, weighed down by Middle East conflict, rising oil prices approaching $100 per barrel, and sticky inflation. The Fed held rates unchanged at 3.5-3.75%, signaling continued caution with policymakers still projecting the possibility of one cut later in 2026.

BROOKLYN

In Brooklyn, 272 new listings entered the market last week, down 8% from the previous week.

Meanwhile, 80 Brooklyn listings entered contract last week, down by 19 contracts from the previous week.

Noteworthy new contracts in Brooklyn were:

1.) The townhouse at 42 SOUTH PORTLAND AVENUE in Fort Greene, asking $5,750,000.

2.) 127 KENT AVENUE, PH2A in Williamsburg, asking $4,500,000.

3.) The townhouse at 309 VANDERBILT AVENUE in Clinton Hill, asking $4,000,000.

Brooklyn's numbers this week reflect a market still finding its footing after a busy Q4 2025. The 19-contract dip in signed agreements is consistent with the pattern we've seen borough-wide: a strong fall, a slower winter reset, and a spring reengagement that hasn't fully hit yet. February's contract activity rebounded 23.3% month-over-month to 492 signed contracts, confirming that buyer re-engagement is underway, though median days on market rose to 78 days and listing discounts widened to 3.8%.

One macro development worth noting: the City Council approved a 72-story mixed-use tower at 395 Flatbush Avenue this week, which would deliver 1,263 rental units including 325 permanently affordable, with construction expected to begin in 2028. The project won't move the near-term needle, but it signals that Downtown Brooklyn's story is still being written and that the borough's institutional appeal to both buyers and developers remains intact.

_{Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from ReSource and Urbandigs. Analysis and conclusions are subject to errors, omissions and revisions.}