The market picked up a bit in May, largely thanks to the rebound in the stock market. After a very quiet April, we started seeing more inquiries across our listings—and even accepted an offer on one we’ve been marketing for nearly a year. The rental market, on the other hand, was intensely competitive. People were bidding on $9,000-a-month one-bedrooms!

It’s so clear to me: if you have the down payment and plan to be in the city for a few years, it makes a lot of sense to buy. That said, while there’s been a slight uptick in activity, NYC still very much remains a buyer’s market.

This morning, I spoke with a buyer and a seller back to back. The buyer wanted stability—no more big rent hikes or sudden moves because a landlord decides to sell. The seller, on the other hand, was ready to move on since his daughter left the city and he no longer wanted the responsibility of being a landlord. I’ve had so many of these conversations over the last few years. It’s rarely just about rates or prices—it’s about life and timing.

There’s definitely pent-up demand in the market. People want to transact. But we need mortgage rates to ease and broader uncertainties to settle. Rates and prices have been in the way of people trying to move on for years now. Compared to this time last year, nearly every metric is stronger across new development, resale, condo, co-op, and luxury segments.

On a Personal Note

Summer is arriving right on cue in New York City. Jeff, the morning host at WQXR, said we’re going from 50s to 90s by Thursday—and I’m not complaining. I actually love a little chill in the air, which is why I’ve been dreaming about a trip to Alaska.

This morning, my older daughter announced, “Mom, do you know there are only 22 days left of school?” The excitement for summer is definitely in the air. I’m looking forward to some unstructured days filled with travel, camp fires, and maybe a few unexpected adventures.

New Construction Spot Light

The Brooklyn Tower—the tallest residential building in the borough—is making its comeback. After an energetic start and a few bumps along the way, it’s now re-entering the market under a new sponsor.

The supertall includes 143 condo units and 278 rentals. I still remember visiting the old Dime Savings Bank hall at the base of the tower—it felt like stepping back in time. You could almost see people bustling about under that grand, historic dome. Come and let me show you this special building!