The Monthly Update - December 2025

“How much money can I get out of my renovation?”

This month’s newsletter was inspired by a random call I recently received. A gentleman had purchased a condo on Central Park South and suddenly found himself facing ballooning renovation costs—right as the building imposed an assessment for upcoming capital improvements. His question is one I hear often: “How much money can I get back if I renovate?” The truth is, there’s no simple formula. Manhattan is one of the hardest markets in the country when it comes to fix-and-flip valuations. Certain pockets of Brooklyn may offer more predictable upside, but Manhattan plays by its own rules. UrbanDigs’ John Walkup tackled this subject beautifully, analyzing renovated versus unrenovated sales, why buyers overwhelmingly gravitate toward move-in-ready homes, and how to identify a genuine value opportunity.

The numbers help frame the conversation. Renovated apartments currently command a 19% premium over unrenovated units. During the post-Covid rebound, that spread surged to 32%, while the 10-year average sits closer to 14%. It’s a classic convenience premium—similar to paying extra at the corner bodega instead of driving to Costco. Buyers today are willing to pay more for a turnkey apartment because it eliminates the stress, time, and unpredictability of construction. And that’s where the cost—and friction—of renovations comes into play. When buyers consider an unrenovated unit, a laundry list of concerns immediately hits them: unpredictable construction costs driven by supply-chain volatility and tariffs; the challenges of navigating permits and the DOB; extensive building approval processes requiring alteration agreements, architectural plans, engineering work, and various fees; and inevitable board oversight, where building architects review plans at the buyer’s expense and often push back on materials or scope. On top of all this, buyers must continue paying their mortgage, taxes, and common charges while securing approvals and completing the work. It’s no wonder that turnkey apartments remain the preferred—and higher-priced—choice.

That said, the right renovation, done strategically, can create meaningful value. The key is approaching it with data, discipline, and a clear eye toward resale. The goal is to find the right property—one with good bones, the right line in the building, and past sales that demonstrate true post-renovation upside—then renovate with purpose. Buyers will not pay more simply because someone else overspent. If you buy a $500,000 studio and put $500,000 into it, that doesn’t make it a $1 million apartment. The market sets the ceiling, not the renovation budget. That’s why renovations must be cost-effective and thoughtfully executed. Look at historical comps to understand whether previous sellers were able to recover renovation costs. Study how long comparable units sat on the market and whether sellers had negotiating room. And when you renovate, stay price-conscious. You don’t always need a designer if you’re updating a kitchen or bath; you can take inspiration from Pinterest and focus on clean, timeless finishes that appeal broadly and protect resale value.

Renovating in Manhattan isn’t easy—but with the right strategy, the right property, and the right budget, it can deliver both personal enjoyment and real financial return. The goal is to design a home you love while avoiding over-investment in areas the market won’t reward. If you’re thinking about buying a value-add opportunity, considering a renovation, or simply want to understand the potential upside of improving your current home, I’m always here to help. I can walk you through comps, renovation budgets, resale expectations, and the numbers that matter most so you can make clear, confident decisions. Here’s to finding the right opportunity—and creating something exceptional.

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Local Happenings

Rockefeller Tree Lighting

December 3, 2025

The fabulous holiday icon of NYC, The Rockefeller Christmas Tree is a must-see for both locals and visitors during the holiday season, whether you’re visiting before ice-skating on The Rink at Rockefeller Center or just passing through.

Click HERE to learn more!

Lightscape at Brooklyn Botanic Garden

Till January 4, 2026

Stroll through a glittering winter trail and be transported to an enchanted forest—right in the heart of Brooklyn.

Click HERE to learn more!

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Featured Listings

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Stay Connected

228 West 17th Street, Unit 4B

228 West 17th Street, Unit 4B

chelsea, manhattan

Asking $469,500

1 Bed  |  1 Bath | Co-op

 

Welcome to Unit 4B at 228 West 17th Street — a newly renovated Chelsea sanctuary.

This bright and inviting home is an easy third-floor walk-up, offering a quiet, elevated retreat above the trees. The apartment has undergone a thorough renovation, featuring a brand-new kitchen with sleek custom cabinetry and an integrated refrigerator, perfectly designed for modern living. The open layout flows seamlessly for both everyday life and entertaining, with large windows that fill the space with natural light.

Set within a well-maintained brick building on a picturesque Chelsea block, residents enjoy boutique amenities, including a laundry room, bike storage, a shared backyard, and a new ButterflyMX video intercom system for secure guest access and easy package deliveries for added convenience and security. Pets are considered on a case-by-case basis.

Perfectly positioned in the heart of Chelsea, 228 West 17th Street offers effortless access to the neighborhood’s best dining, shopping, cultural destinations, and multiple subway lines — the ideal blend of comfort, style, and connectivity.

Income Restrictions Apply (165% of NYC AMI):
- 1 Person Household: $187,110
- 2 Person Household: $213,840
- 3 Person Household: $240,570

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351 West 53rd Street, Unit 4E

351 West 53rd Street, Unit 4E

Hell’s kitchen, manhattan

Asking $450,000

Loft  |  1 Bath | Co-op

 

Welcome to 351 West 53rd Street, #4E—a bright, top-floor loft-like one-bedroom sanctuary in the heart of Hell’s Kitchen, where classic pre-war charm meets the vibrant energy of Midtown Manhattan. Perched just three easy flights up in a boutique 1920 co-op, this home offers the rare feeling of a mini–SoHo loft with dramatic architectural details and an airy, open flow.

Natural light pours through an oversized skylight, framing open-sky views and illuminating the expansive living space. With multiple north and south exposures, the home enjoys beautiful cross breezes and an all-day glow that enhances the sense of volume created by the soaring 10'6" ceilings at their highest points. Bookend windows and exposed brick add warmth and authentic New York character, while a cozy wood-burning fireplace serves as a stunning focal point—something rarely found at this price point.

The layout, substantially larger than many one-bedrooms in the neighborhood, offers remarkable flexibility with clean sightlines, wide living/dining zones, and a footprint that can easily accommodate a proper bedroom configuration. The renovated windowed kitchen is smartly designed with modern conveniences—including a dishwasher—while the updated bathroom completes the turn-key appeal.

Outside your door, you’re surrounded by the best of Hell’s Kitchen and Midtown West: an endless collection of top-rated restaurants, cafés, boutiques, and local shops, along with effortless access to transportation options including the A/C/E, 1, B/D, N/Q/R trains. You’re moments from Central Park, the Hudson River Park waterfront, Lincoln Center, the Theatre District, and all the cultural and lifestyle amenities that make this one of Manhattan’s most dynamic and convenient neighborhoods.

A rare blend of loft-like character, natural light, volume, and location, #4E offers the perfect balance of pre-war charm, modern updates, and quintessential New York living.

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What To Know About the 2025 Macy’s Thanksgiving Day Parade

The Macy’s Thanksgiving Day Parade is back for its 99th year, kicking off the holiday season in New York City this month with its colorful floats and giant character balloons. The parade begins at 8:30 a.m. on Thursday, November 27, featuring more than 5,000 volunteers, 32 balloons, three balloonicles, 27 floats, four specialty units, 33 clown groups, 11 marching bands, and a star-studded lineup of musical performances. Ahead, learn everything you need to know about this year’s parade, from the best viewing spots to fun facts about its famed floats.

“Macy’s Thanksgiving Day Parade is the official kickoff to the holiday season and has been part of the nation’s stories and traditions for generations,” Will Coss, Macy’s Thanksgiving Day Parade executive producer, said.

“The most wonderful stories start at the Parade. On Thanksgiving morning, larger-than-life character balloons, awe-inspiring floats and showstopping performances will create unforgettable moments and lasting holiday memories for millions of spectators in New York City and across the country.”

The route

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This year’s parade will depart from 77th Street and Central Park West, stopping first on its 2.5-mile journey at Columbus Circle before turning east onto Central Park South and continuing down Sixth Avenue. When it reaches 34th Street, the parade will make its final turn onto Seventh Avenue, ending in front of Macy’s Herald Square.

Best spots for viewing

Public viewing areas, managed by the NYPD, will be located along the parade route. In previous years, the best viewing spots were along Central Park West from West 75th to West 61st Streets and on Sixth Avenue from West 59th to West 38th Streets, as 6sqft previously reported. Spectators hoping for a good view should arrive early, as prime spots fill up quickly.

Watching at home

Those unable to attend in person can watch the parade live on NBC and Peacock starting at 8:30 a.m. in all time zones, with an encore broadcast at 2 p.m. On Wednesday, November 26, at 8 p.m., NBC and Peacock will air the primetime special “Countdown to the Macy’s Thanksgiving Day Parade,” broadcast live from the parade’s starting line. The special will offer an exclusive behind-the-scenes look at the floats, balloons, and bands as they prepare to hit the streets.

Balloons & floats

This year’s parade will feature four new character balloons: Buzz Lightyear from Pixar Animation Studios, Pac-Man from Bandai Namco Entertainment America, Shrek’s Onion Carriage from DreamWorks Animation, and Mario from Nintendo. Additionally, Derpy Tiger and Sussie from Netflix’s “K-Pop Demon Hunters” will join the lineup as a mid-sized balloon and a balloonicle, respectively.

Santa Claus and Santa’s Sleigh at the 2024 Macy’s Thanksgiving Day Parade.

Six new floats will also debut this year, including Land of Glaciers, Wildlife & Wonder by Holland America Line; Brick-tastic Winter Mountain by the LEGO Group; Master Chocolatier Ballroom by Lindt; Upside Down Invasion: Stranger Things by Netflix; Friends-giving in POPCITY by Pop Mart, the creators of Labubu; and Counting Sheep’s Dream Generator by Serta.

Macy’s Studios will reintroduce and reimagine several beloved balloons from the parade’s early years for fans of all ages, including Rainbow and Greybow Trouts, the Happy Hippo Triple Stack, Wigglefoot, and Freida the Dachshund, created by Macy’s in partnership with The Farmer’s Dog. A new float element, created in collaboration with Goldfish, will also join the lineup.

Bigs and Littles from Big Brothers Big Sisters will lead the parade atop the famous Tom Turkey float.

Celebrities & entertainers

Parade spectators are in for a treat this year, with appearances and performances by a stacked lineup of celebrities and entertainers. In Herald Square, performances will include the daytime debut of EJAE, Audrey Nuna, and REI AMI—the singing voices of HUNTR/X in Netflix’s animated film “K-Pop Demon Hunters”—along with some of Broadway’s biggest hits, including “Buena Vista Social Club,” “Just in Time,” and “Ragtime.”

Other appearances include Drew Baldridge, Matteo Bocelli, Colbie Caillat, Ciara, Gavin DeGraw, Meg Donnelly, Mr. Fantasy, Foreigner, Debbie Gibson, Mickey Guyton, Christopher Jackson, Jewel, Lil Jon, Kool & the Gang, Darlene Love, Roman Mejia, Taylor Momsen, Tiler Peck, Busta Rhymes, Calum Scott, Shaggy, Lauren Spencer Smith, Luísa Sonza, and Teyana Taylor.

Additionally, Nikki DeLoach, U.S. Olympian Ilia Malinin, Kristoffer Polaha, U.S Paralympian Jack Wallace, and special correspondent Sean Evans will make appearances. 

Student musicians from across the globe will also join the parade, including Banda Musica La Primavera from Santiago, Panama; the Catawba Ridge High School Marching Band from Fort Mill, South Carolina; the Damien Sparta Regiment from La Verne, California; and the L.D. Bell Blue Raider Band from Hurst, Texas.

They’ll march alongside the Macy’s Great American Marching Band, the Northern Arizona University Lumberjack Marching Band, the Sounds of Dyn-O-Mite from Alcorn State University in Lorman, Mississippi, the Spartans Jr. Drum and Bugle Corps from Nashua, New Hampshire, the Marching Pride of North Alabama, and the Temple University Diamond Band from Philadelphia, Pennsylvania. The NYPD Marching Band will also join the festivities.

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What to know about the 2025 Macy’s Thanksgiving Day Parade

By Aaron Ginsburg

November 3, 2025

Cover Photo Credit: TomH2323 on Flickr, all other images courtesy of Macy’s, Inc.

201 West 21st Street, Unit 9A

201 West 21st Street, Unit 9A

chelsea, manhattan

Asking $469,000

Studio  |  1 Bath | Co-op

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Welcome to Residence 9A at 201 West 21st Street, a beautifully renovated studio perched on a high floor of The Piermont, a full-service co-op in the heart of Chelsea. This bright, stylish home is situated on the quiet side of the building, overlooking open views of West Chelsea and charming townhouse gardens. Natural light floods the space through a west-facing window, enhancing the airy, inviting atmosphere. The interior has been thoughtfully updated with new hardwood floors, a sleek modern kitchen, and a tastefully renovated bathroom—creating a move-in-ready retreat perfect for both everyday living and entertaining.

The Piermont is a well-established, full-service building featuring a 24-hour doorman, live-in superintendent, laundry room, bike storage, and a beautifully landscaped roof deck with panoramic skyline views. Pets are welcome, and residents enjoy the comfort and convenience of an impeccably maintained building with a warm, community feel.

Located on one of Chelsea’s most desirable blocks, between Seventh and Eighth Avenues, this home puts you moments from the neighborhood’s best restaurants, art galleries, and shopping, as well as the High Line, Madison Square Park, and multiple subway lines—including the 1, C, E, F, and M trains. Combining exceptional value, modern updates, and a peaceful yet central location.

NYC Ferry Unveils New Routes

Next month, New York City ferry riders will be able to take new direct routes between the Bronx and the Rockaways, and Staten Island and Brooklyn. On Monday, the city’s Economic Development Corporation (NYCEDC) announced that the new service will launch on December 8, addressing long-standing gaps in the ferry network after years of advocacy from Brooklyn and Staten Island officials for direct service between the two boroughs. Another new route will link Throgs Neck to the Rockaways, offering a two-hour trip from the Bronx to the beach.

In a statement, Mayor Eric Adams praised the ferry network’s redesign and highlighted its record-breaking ridership.

“From Throgs Neck to the Rockaways, our city’s ferries give New Yorkers and tourists alike a convenient, affordable way to travel across the five boroughs,” Adams said. “Thanks to smart investments to make our ferry system more accessible, affordable, and sustainable, we’ve already shattered ridership records this summer, and with this comprehensive redesign, we’ll embark on the next great stretch of NYC Ferry’s journey to bring this dynamic service to even more New Yorkers.”

The new routes are part of the ferry system’s 2025 Optimization Plan, the first comprehensive redesign of the network since its 2017 launch. The plan responds to the system’s continued growth: in 2024, the ferries carried a record 7.4 million passengers, and as of May 2025, ridership is up five percent from the same period last year, as 6sqft previously reported.

Under the plan, the East River route will be split into two to improve capacity and speed. A local route will serve all stops along the river during midday on weekdays and on winter weekends to maintain connectivity.

The Soundview and Rockaway routes will merge, giving Rockaway riders a one-seat trip to Midtown and East 90th Street while filling previously underused boats headed towards the Bronx during morning commutes.

Staten Island’s St. George route will connect to Brooklyn, offering a public transit alternative to the Verrazzano-Narrows Bridge. According to SILive.com, a ferry used to run between the two boroughs, but it was put out of service after the Verrazzano-Narrows Bridge opened in 1964.

“I am thrilled that Staten Island is finally being connected to the full NYC Ferry system. This long-overdue expansion is not just a victory for transit equity but a vital step forward in strengthening our borough’s connection to the rest of the city,” Council Member Kamillah Hanks, who represents parts of the borough.

“By linking Staten Island to Brooklyn and Pier 11, we are unlocking new opportunities for commuters, supporting our local economy, and reaffirming Staten Island’s role in New York City’s future. I commend NYCEDC for their vision and commitment to delivering on this critical need.”

Plus, for the first time, service will also provide a direct link from Brooklyn to Manhattan’s west side.

The South Brooklyn route will add a one-seat ride to Midtown, improving frequency and connecting Red Hook and Atlantic Avenue residents with the city’s central business district.

Additionally, NYCEDC will launch a pilot program in South Brooklyn during summer weekends in 2026, extending the new South Brooklyn route to Bay Ridge and Sunset Park to improve local connections. The pilot will be reviewed and evaluated in fall 2026.

According to a NYCEDC report also released Monday, the agency intends to expand the East 34th Street Ferry Terminal and add new landings at East 125th Street in East Harlem and at MADE-Bush Terminal in Sunset Park.

The proposed 125th Street ferry stop would bring service to East Harlem, a neighborhood in high need of additional transit options. According to a press release, the community has long called for better connectivity, particularly to complement the ongoing Manhattan Greenway Harlem River project.

In Sunset Park, the area surrounding the proposed MADE-Bush Terminal has evolved into a dynamic mixed-use hub in recent years. The Bush Terminal, nearby South Brooklyn Marine Terminal, and numerous public and private redevelopment projects are driving economic growth and creating thousands of jobs. Despite this, the area still lacks direct ferry service, a gap the planned landing aims to fill.

The report also explored potential ferry expansions in Canarsie, where residents have long advocated for service to Manhattan. While there are no immediate plans to add a stop there, NYCEDC identified the neighborhood as a focus area for possible future expansion.

The expansion of NYC Ferry marks the continued growth of the system, which launched eight years ago. When service began in 2017, it included 21 stops connecting Far Rockaway to Lower Manhattan’s Pier 11, South Brooklyn to Wall Street, Queens to Midtown, and more. Today, NYC Ferry operates 25 stops across all five boroughs, stretching from the Bronx to Staten Island, as 6sqft previously reported.

In May, the NYCEDC announced plans to expand its popular “Rockaway Rocket” and “Rockaway Reserve” programs, offering more reserved seats at a new price of $12 per ticket, up from $10. The expanded service lets beachgoers reserve spots on the crowded ferries in advance.

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NYC Ferry unveils new routes, including connection between Brooklyn and Staten Island

By Aaron Ginsburg

November 11, 2025

Cover Photo Credit: PunkToad on Flickr

Bryant Park’s Winter Village Is Now Open

One of New York City’s most cherished holiday attractions has officially opened in Midtown, kicking off the season’s festivities. On Friday, the Bank of America Winter Village at Bryant Park returned for its 24th season, bringing the city’s only free-admission ice skating, a rinkside food hall and bar, and an open-air holiday market with more than 180 vendors to the beloved public space. The Winter Village is open through March 1, 2026.

At the heart of the village is the city’s largest free-admission ice-skating rink, spanning 17,000 square feet. Open daily through the winter season, the rink offers skate rentals, lessons for kids and adults, free performances, and more.

Next to the rink is the Lodge, a cozy rinkside space where visitors can enjoy festive cocktails and bites from two full-service bars while watching skaters glide by. The area includes indoor and outdoor seating and TVs for watching sports.

Later in the season, visitors will be able to rent private heated igloos—perfect for small gatherings, birthday parties, date nights, or simply warming up after skating. Upcoming attractions will also include bumper cars and “Santa’s Corner.”

Hosted by Urbanspace, the holiday shops are open daily through January 4, 2026. This year’s market will feature over 180 merchants, including newcomers and returning favorites. Some highlights of this year’s roster include Buttermee Pancakes, Cheese Wheel Pasta, Baked by Melissa, Pinky Pilots, and Soap for Sinners.

Bank of America’s Small Business Spotlight program will also return this season, highlighting four NYC-based entrepreneurs who will sell their products rent-free at the holiday shops. This year’s booth will feature accessible luxury home essentials, handcrafted ceramics, festive greeting cards and prints, and canine-themed candles.

The featured small businesses are Brooklyn’s Tribe & Oak (open through November 11), Staten Island’s Jay Ceramics (open through November 30), Brooklyn’s Smar Art (open from December 1 to 16), and Manhattan’s Vanilla Joe & Co. (open from December 17 to January 4).

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Bryant Park’s Winter Village is now open for the season

By Aaron Ginsburg

October 24, 2025

Photos by Colin Miller

Ice Skating Under The Brooklyn Bridge Is Back This Month

One of New York City’s most scenic ice skating rinks returns this month. Located under the Brooklyn Bridge in Brooklyn Bridge Park, Roebling Rink opens November 24 through February 1, 2026. Tickets are now open for the new season, with admission starting at $16.

Roebling Rink also offers private lessons with professionals from Fireworks Skating Academy. This season, school and extracurricular groups can book private field trip sessions on Friday mornings from 10 a.m. to 12 p.m. Skaters can also enjoy food from the nearby Time Out Market.

The rink first opened in November 2023 as Glide at Brooklyn Bridge, following a request for proposals issued by the Brooklyn Bridge Park Corporation earlier that year to find a partner to create and operate a seasonal ice-skating rink at Emily Warren Roebling Plaza.

Tickets are $16 per person for a 60-minute session, with skate rentals available for $8 and skate buddies or helmets for $5 each. New Yorkers can also claim limited free tickets during select sessions on a first-come, first-served basis by presenting a valid ID to verify residency. Additionally, the rink offers a 10 percent discount on purchases of 10 tickets or more.

Socks, gloves, and scarves are also available for purchase on-site, in case any skaters forget their winter essentials.

Roebling Rink is open for public skating Mondays through Thursdays from 2 p.m. to 9 p.m., Fridays from 12:30 p.m. to 10 p.m., and Saturdays and Sundays from 10 a.m. to 10 p.m. Guests can reserve a time slot and arrive anytime within the two-hour window for a 60-minute skating session.

More information about Roebling Rink can be found here.

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Ice skating under the Brooklyn Bridge is back this month

By Aaron Ginsburg

November 4, 2025

Images by Alexa Hoyer

302 East 88th Street, Unit 2G

302 East 88th Street, Unit 2G

upper east side, manhattan

Asking $555,000

1 Bed  |  1 Bath | Co-op

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Your perfect Yorkville home awaits in this spacious one-bedroom, one-bathroom featuring beautifully updated open-plan interiors and an outstanding location in a beloved Upper East Side co-op.

Spanning approximately 800 square feet, unit 2G welcomes you with tall ceilings, hardwood floors and windows on three exposures. A gracious foyer with a large closet ushers you into the oversized living/dining room, offering a generous footprint for relaxing and entertaining surrounded by south-facing windows, recessed lighting and a designer chandelier. The renovated open kitchen wows with beautiful cabinetry, quartz counters, glass tile backsplashes and a large farm sink illuminated by undercabinet lighting. Enjoy casual meals and conversation at the breakfast bar while a fleet of stainless steel appliances -- including a gas range with double ovens, a dishwasher, a wine refrigerator, a built-in microwave and wine fridge -- make cooking and cleaning a breeze. The king-size bedroom provides a wall of closets, ceiling fan and plenty of space for a home office or fitness area. A windowed bathroom with a large tub/shower, contemporary fixtures, and classic subway and penny tile completes this move-in ready Yorkville retreat.

302 East 88th Street is a postwar red-brick cooperative where residents enjoy part-time doorman and live-in superintendent service, updated common areas, laundry, storage, a bike room, discounted cable/internet and an on-site parking garage. Co-purchasing, subletting and pets are permitted with board approval. Sorry, no parents buying for children, guarantors or pieds-à-terre.

Nestled in the heart of the Upper East Side's Yorkville neighborhood, this gorgeous block is lined by trees and the gardens of Holy Trinity Church. Enjoy front-row access to incredible shopping, dining, entertainment and outdoor space in every direction, including Central Park and riverfront Carl Schurz Park just minutes away. The 86th Street corridor features fantastic retail and fitness destinations, including Barry's and Orangetheory, while Whole Foods, Fairway Market and C-Town make grocery shopping effortless. Transportation couldn't be easier with Q and 4/5/6 trains, excellent bus service, CitiBikes and the FDR all within easy reach.

The Monthly Update - November 2025

Manhattan Real Estate in October: Resilient but Restrained

The Manhattan real estate market experienced a noticeable degree of stagnation in October—a cautious shift in a month that historically sees strong, robust contract activity. What’s behind the cautiousness? Is it mayoral election trepidation, the lingering “lock-in effect,” or perhaps the booming rental market drawing would-be buyers away from the sales market? The answer may be a combination of all of the above—and then some.

No matter who you're voting for, it's clear that the upcoming mayoral election is weighing heavily on everyone’s mind. According to Compass, open house traffic is down 30% over the past two weeks, suggesting that many buyers are holding back, waiting to see what happens after next week's election. At the same time, the media is flooding the public with emotionally charged messaging, portraying this race as a referendum on Manhattan’s future, with major tax implications, rezoning initiatives, housing proposals and more—all of which are presented as potentially game-changing (or game-ending), depending on your point of view.

As a result, many buyers have retreated to the sidelines, cautious and uncertain, waiting for the "storm" to pass. I can say that the city feels somewhat divided, or at least confused, with each side glued to its preferred news outlet, seeking reinforcement rather than perspective. And so, buyers hunker down, waiting to see what direction Manhattan will take after the votes are counted.

New York City has weathered countless elections, led by mayors with vastly different agendas—and yet, we’re still here. The skyline is still intact. Life goes on.

Once buyers emerge from their self-imposed caves and re-enter the market, they may return to a very different sales landscape than the one they paused from: lower inventory, easing mortgage rates, and a potentially stronger position for sellers who stayed the course through the uncertainty. Some in the industry are predicting a post-election resurgence in buyer activity. But, as always, we won’t know until the fog clears.

Still, the election isn’t the only factor at play in this market cooldown.

The persistent “lock-in effect”—where owners sit tight on ultra-low mortgage rates—continues to limit inventory. This year’s fall market has still yet to hit the 7,000 active listing threshold, staying 300–400 units shy of recent seasonal norms. This supply constraint isn’t helping, but it’s also not the only drag.

Arguably the biggest diversion of buyer attention has come from the extraordinarily strong rental market. Median rents in Manhattan hit a record $4,800/month back in May, one of the highest levels ever recorded. At the same time, persistently high mortgage rates (although more relief is supposedly around the corner) have pushed many would-be buyers into the rental pool instead of the ownership lane.

So now we enter the final stretch of the fall season. The Manhattan market, for all its noise and headwinds, can best be described as resilient but restrained. Prices are softening slightly, mortgage rates are fluctuating but overall are heading in the right directions, and buyers seem to be in a “wait-and-see” mode as the election approaches.

But many of us in the real estate industry believe that once the dust settles—as it always does—we’ll see a wave of re-engagement from sidelined buyers. Those who tried to time the market may find themselves rushing back in, looking to buy in a city that remains, for all its ups and downs, one of the most dynamic and desirable places in the world.

We’ve seen it before, and we’ll see it again. Another election will pass, and we’ll all still be here—living, working, and thriving in this amazing city called Manhattan (and Brooklyn).

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Local Happenings

NYC Marathon

NOVEMBER 2, 2025

The TCS New York City Marathon is a 26.2-mile race through all five boroughs, uniting tens of thousands of runners and spectators in a citywide celebration of endurance and community.

Click HERE to learn more!

New York Comedy Festival

NOVEMBER 7-16, 2025

The festival will feature more than 100 shows and over 200 comedians, offering audiences a chance to experience some of the best in comedy from around the world. Tickets are now available for purchase.

Click HERE to learn more!

Macy's Thanksgiving Day Parade

November 27, 2025

A cherished New York City tradition held each Thanksgiving morning, featuring giant balloons, floats, marching bands, and live performances as it travels from Central Park West to Macy’s Herald Square.

Click HERE to learn more!

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Featured Listings

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Stay Connected

301 East 61st Street, Unit 2C

301 East 61st Street, Unit 2C

Lenox hill, Manhattan

Asking $750,000

Studio  |  1 Bath | Condo

 

Welcome to Residence 2C at The Clare, a full-service boutique condominium offering just 30 residences for unparalleled privacy and first-class luxury in the heart of Lenox Hill.

This sophisticated studio is bathed in natural light through a wall of oversized windows and features 7-inch wide heated white oak flooring, LED lighting throughout, multi-zone heating and cooling, and radiant heat flooring. Thoughtful details, such as an in-unit washer/dryer, central heating and air, and ample storage, enhance everyday comfort.

The sleek open kitchen is outfitted with a full suite of Miele appliances, framed by custom Poggenpohl cabinetry and quartz countertops. A floating island anchors the space, providing both style and functionality. The spa-like bathroom is finished with Porcelanosa Carrara Blanco–style marble floors and wall tiles, a Kohler soaking tub, a walk-in shower, and generous above- and below-counter storage.

Life at The Clare is elevated by a spectacular amenities floor, highlighted by a 60-foot south-facing terrace, a dramatic lounge with 40 feet of glass doors, a catering kitchen, and a double-height gym wrapped in two walls of glass. A mirrored yoga and stretching room completes the offering. The doorman's hours are 7-11 and overnight from 11-7.

Perfectly located near the Second Avenue Subway, multiple bus lines, and some of the city’s finest restaurants, shops, and medical centers, The Clare delivers both convenience and lifestyle in one of Manhattan’s most desirable neighborhoods.

37-34 28th Street

37-34 28th Street

long island city, queens

Asking $1,250,000

3 Bed  |  2 Bath | Townhouse

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37-34 28th Street is a two-story single-family home located in the heart of Long Island City. Built in 1905, this residence offers three spacious bedrooms, two full bathrooms and a private backyard.

The property features an updated eat-in kitchen and is situated in a vibrant neighborhood known for its artistic vibe and proximity to Manhattan. Residents enjoy easy access to public transportation, including the nearby N and Q subway lines, providing a quick commute into the city.

This home offers a unique opportunity to own a piece of Long Island City's rich history while being close to modern amenities and cultural attractions.

The Monthly Update - October 2025

Fall Market, Part Two: Holding Its Breath

As we enter the second half of the 2025 fall real estate selling season in New York City, buyers and sellers alike are closely watching the market. Interest rates, overall listing supply, macro- and microeconomic conditions, and the upcoming mayoral election are just a few of the factors influencing decisions. In many ways, the city’s real estate market is collectively holding its breath, waiting to see how things will unfold in October.

Fall is considered the second-busiest season, trailing only the spring market, which historically dominates NYC in total dollar volume, number of units sold, and seasonal duration. The spring market typically runs from February through June, offering a broader window for deals to be made. In contrast, the fall market is far more condensed. It begins around Labor Day in early September, when new listings hit the market, and runs through October and the first few weeks of November, when those listings typically convert into signed contracts. We are now at that inflection point. Just as October hits its stride, the holidays appear on the horizon and the season fades. This compressed timeline creates a heightened sense of urgency and intensity—for sellers looking to get under contract quickly, and for buyers eager to find and close on their dream home before year’s end.

Interest rates are always a crucial factor in real estate, but in fall 2025 they’re particularly impactful—especially in the “non-luxury” segment, defined as properties priced under $4 million. This segment has been slower to recover, largely because these buyers are more likely to rely on financing and are more sensitive to rising rates. In contrast, luxury buyers—those purchasing properties over $4 million—are often all-cash buyers, making them less affected by rate changes. Over the past two years, this divide has led to consistently stronger performance in the luxury market. That’s why the recent drop in mortgage rates has been a welcome development, particularly for non-luxury buyers. Between September 15 and 22, nearly 200 apartments went into contract—about 50% more than the prior week—giving the fall season a strong start. However, in the following week, from September 22 to 29, the market flattened somewhat, with 178 contracts signed, representing an 8.7% decrease from the week before. This early stretch of the fall season continues to show a Jekyll-and-Hyde dynamic, reflecting mixed momentum as the market finds its footing.

Supply is also playing a major role in shaping this year’s seasonal market. Inventory is rising, though it hasn’t yet reached the levels typically expected at the height of the fall season. Historically, fall peaks at around 7,500 active listings. Over the past two years, however, inventory topped out at around 6,900 and 7,300 listings, respectively. Many sellers remain hesitant to list, especially in what still feels like a lingering buyer’s market—a sentiment that has persisted since the post-COVID rebound of late 2021. Ironically, this reluctance has helped keep pricing relatively stable, even as demand has cooled. Fewer listings mean less downward pressure on prices, which has been a key stabilizing force over the past couple of years.

As we move deeper into the season, the big question becomes: after listings hit the market in September, how will buyers respond in October? Will we see the typical seasonal uptick in contract activity, or will external factors—such as economic uncertainty or political noise—dampen both supply and buyer motivation? The next 30 days will provide the answer.

Ultimately, the success of Manhattan and Brooklyn’s fall market in 2025 will likely hinge on the path of mortgage rates. If rates continue to trend downward into the late fall and winter months, they could be the catalyst for a strong season—and possibly a strong start to 2026. Lower rates will help buyers feel more confident and empowered to make offers, while also improving affordability. This creates a window of opportunity, particularly for buyers willing to act while inventory builds and competition remains low.

For sellers, success this fall will come down to pricing, presentation, and accessibility. A well-priced, well-presented, and easy-to-show listing will be the most competitive. And in the end, both buyers and sellers stand to benefit if interest rates continue their descent. Let’s go, Fall 2025!

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Local Happenings

Pickle For PINK

October 8, 2025

This year, we’re back—and bigger! Pickle for Pink is returning for round two, and we’d love for you to join us. Whether you played, donated, or cheered from the sidelines last year, you were part of something powerful. Let’s build on that momentum and make this year’s impact even greater. Click HERE to learn more!

NYC Wine & Food Festival

October 15-19, 2025

The Food Network New York City Wine & Food Festival is NYC’s premier culinary event, now in its 18th year. Over five days, it brings together world-class chefs, tastings, dinners, and master classes in a new waterfront Seaport campus celebrating food, drink, and culture. Click HERE to learn more!

Village Halloween Parade

October 31, 2025

The Village Halloween Parade brings NYC to life through creativity and participation, turning public spaces into vibrant arenas of art, play, and community. Its sensory spectacle leaves a lasting impact, fostering connection, continuity, and the city’s imaginative spirit. Click HERE to learn more!

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Featured Listings

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490 West End Avenue, Unit 3D

490 West End Avenue, Unit 3D

upper west side, manhattan

Asking $2,750,000

3 Bed  |  3 Bath | Co-op

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Classic Seven grandeur and exceptional architectural details await in this sprawling three-bedroom, three-bathroom residence featuring a convenient home office, thoughtful layout and treetop views in a full-service Upper West Side prewar cooperative.

Inside this expansive home of approximately 2,000 square feet, soaring coved ceilings rise above inlaid parquet floors, intricate molding, handsome millwork, and oversized windows facing east and south. An oversized foyer makes a warm welcome with a coat closet and plenty of space for seating. Ahead, discover an ideal layout for relaxing and entertaining, including a spacious living room featuring a stately decorative fireplace. French doors open to the formal dining room, perfect for large gatherings under a classic ceiling medallion. The adjacent eat-in kitchen has been expanded into the traditional maid's room space to provide an inviting breakfast nook, a convenient guest bathroom, an in-unit washer-dryer and a windowed home office. Chefs will love the floor-to-ceiling cabinetry and stainless steel appliances, including a gas range, side-by-side refrigerator and dishwasher.

The home's private quarters are tucked down a private hallway for optimal peace and privacy. In the king-size primary suite, you'll find two roomy closets, southern exposures, and a windowed en suite bathroom. Two extra-large secondary bedrooms with abundant closet space of their own flank a third windowed bathroom with a large tub/shower. Move right in or put your personal stamp on this historic West End Avenue haven.

Built in 1912 by Neville & Bagge, 490 West End Avenue is an elegant Renaissance Revival palazzo-style building that delivers major curb appeal with its main entrance's Doric columns and decorative iron-and-glass canopy. Residents of the distinguished pet-friendly building enjoy 24-hour doorman and live-in superintendent service, a meticulously restored ornate lobby, a gym, a common garden, laundry, storage and a bike room.

Situated on the corner of West End Avenue and West 83rd Street within the Riverside West End Historic District, this home is surrounded by magnificent outdoor space, including waterfront Riverside Park, the lush gardens of the American Museum of Natural History and iconic Central Park. Fantastic shopping, dining, nightlife and entertainment venues line the nearby blocks, including an AMC Theater, Barnes & Noble and Zabar's. Transportation is effortless with 1/2/3, B and C trains, excellent bus service and CitiBikes all nearby.

10 Picture-Perfect Farms Near NYC For Pumpkin and Apple Picking

Several surveys show that fall is by far Americans’ favorite season. And anecdotally, a scroll through Instagram certainly backs this up. Entire accounts are devoted to fall foliage views and autumnal decor, while influencers started posting seasonal recipes and DIY projects long before summer was over. But you don’t need a social media account to enjoy all the season has to offer. There are plenty of places within a short drive or train ride of New York City to enjoy apple picking, pumpkin picking, and so much more, in real life. Read on for our 10 favorite fall farms.

Westchester County

Harvest Moon Farm & Orchard: North Salem, NY
Offerings: Pumpkin picking, apple picking, hay rides

Not only will this farm give you traditional pumpkin and apple picking, but it’ll help you fill your Instagram feed with fun foodie picks. Most popular is the Cider Smash, an apple cider-vanilla ice cream slushie topped off with an apple cider donut. Even better is that the cider comes from the farm’s Hardscrabble Cider outpost, where you can try seven hard ciders on tap, or enjoy a cider cocktail with lunch or bar bites.

For the full experience, grab a ticket to the farm’s brand-new Mystic Moon, a 40-minute immersive experience that’s described as “mystical and enchanting” rather than spooky and creepy.

Outhouse Orchards: North Salem, NY
Offerings: Pumpkin picking, apple picking, sunflower picking, hay rides, corn maze

For those farmhouse vibes, head to Outhouse Orchards. The farm stand is full of fresh produce, apple cider donuts, local maple syrup, and more. In addition to apple and pumpkin picking, the farm has u-pick pears and peaches (yes, peaches are available through October). You can also pick your own sunflowers and zinnias.

Not great at crafting your own photo-ops? This spot has plenty of pre-curated displays to make your pictures pop.

Hudson Valley

Photo courtesy of Apple Dave’s

Apple Dave’s Orchards & Distillery: Warwick, NY
Offerings: Apple picking and pumpkin picking

How about apple picking with a backdrop of lake and mountain views? That’s what this lovely Warwick farm offers, along with sprawling grounds perfect for picnicking and several walking trails.

Then, head over to the distillery in the red barn, which offers local beers, seasonal cocktails, shawangunk wines, and authentic Apple Jack. On most fall weekends, the distillery has live music, too.

Kelder’s Farm: Kerhonkson, NY
Offerings: Pumpkin picking, apple picking, hay rides, corn maze

You can’t miss this farm; the self-described world’s largest garden gnome stands at the entrance. After taking your selfie with this enormous sculpture, enjoy apple picking and pumpkin picking, and let the kids bounce around on the giant in-ground trampoline. There are tons of other activities for the little ones, too, including giant board games, a climbable hay mountain, and a corn barn (like a sandbox, but with corn kernels).

If you’re planning to make a weekend out of it, the nearby Minnewaska State Park is a beautiful hike to see fall foliage.

Connecticut

Photo courtesy of Lyman Orchards

Lyman Orchards: Middlefield, CT
Offerings: Apple picking, pumpkin picking, corn maze

For u-pick opportunities, Lyman Orchards is one of the best options in the region. Until mid-November, you can pick from 27 varieties of apples, planted across 30,000 trees set on 100 acres. In addition, peaches, nectarines, and pears (including Asian pears) are available for picking through the end of September, as well as pumpkins through the end of October. The best part? All of their fruit is Eco-certified.

Be sure to leave plenty of time to visit the Apple Barrel farm market, where you can pick up jams, jellies, sauces, and more made from Lyman’s own fruit. And you’ll definitely want to get a homemade apple pie (high-top apple or apple crumb), or one of the other fresh fruit pies.

Silverman’s Farm: Easton, CT
Offerings: Apple picking, pumpkin picking, hay rides

Silverman’s would be picturesque even without the acres and acres of apple trees. The farm is set among gorgeous rolling hills lined with trees that change color in the fall. Add in the fruit orchards, and you truly can’t beat it.

The animal farm here is one of the best for kids. They can feed and pet buffalo, llamas, alpacas, sheep, goats, fallow deer, emus, and long-horn cattle.

Long Island

Hank’s Pumpkintown: Southampton, NY
Offerings: Pumpkin picking, apple picking, hay rides, corn maze

It seems like everywhere you look at Hank’s, there are pumpkins of all shapes, sizes, colors, and textures—whether they’re out in the fields or piled high in various display bins. This includes a pink tractor filled with pink porcelain doll pumpkins, the sales from which are donated to breast cancer research.

You can truly make a whole day of visiting Hank’s, as there’s also apple picking, a corn maze, gem mining, a market, and hard cider tasting.

Woodside Orchards: Aquebogue and Jamesport, NY
Offerings: Apple picking

This family-owned farm embodies the rural history of Long Island’s beautiful North Fork region. When the apple farm began in 1982, the owners sold their fruit at “The Apple Shed,” a small wooden farm stand. Today, you can still visit (and take a picture in front of) this quaint building at the Jamesport location.

Today, in addition to offering apple picking and baked goods for sale, Woodside Orchards makes its own hard ciders, which you can sample in the rustic tasting room at the Aquebogue location.

New Jersey

Photo courtesy of Happy Day Farm

Happy Day Farm: Manalapan, NJ
Offerings: Pumpkin picking, sunflower picking, hay rides, corn maze

This Central Jersey farm is a pumpkin lover’s paradise. Here, you’ll get much more than traditional orange pumpkins. Think, pale green and pink pumpkins, funky gourds, and extra-large pumpkins. Throughout the farm, there are also pumpkin houses and installations for perfect photo-ops.

For the kids, there’s a giant corn maze, pedal carts, rubber duck races, a fun slide, and more.

A. Casola Farms: Holmdel, NJ
Offerings: Pumpkin picking, hay rides, corn maze

We recommend this spot for the adults. Yes, the farm has pumpkin picking, a petting zoo, and more, but you’ll get the most spectacular views at the adjacent Fox Hollow Vineyards. The winery’s outdoor patio has several different areas where you can set up with your wine tasting and a cheese plate, enjoying live music and the rolling-hill scenery and colorful landscaping. The lower level has cozy firepits and outdoor games.

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10 picture-perfect farms near NYC for pumpkin and apple picking

By Dana Schulz

September 17, 2025

Cover photos courtesy of Lyman Orchards

225 Central Park West, Unit 919

225 Central Park West, Unit 919

upper west side, manhattan

Asking $500,000

Studio  |  1 Bath | Co-op

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Welcome to this sunny and beautifully renovated studio in The Alden, Emery Roth’s iconic pre-war building directly across from Central Park. Quiet and charming, this home blends classic character with modern updates, featuring high-beamed ceilings, brand-new wood floors, and oversized windows that flood the space with natural light. Its efficient layout makes for an airy and comfortable retreat right in the heart of the Upper West Side.

With Central Park as your front yard, world-class cultural institutions such as the Museum of Natural History and Hayden Planetarium just blocks away, and the B/C subway and crosstown bus nearby, the location is truly unmatched.

The Alden is a white-glove, full-service co-op offering 24-hour doorman and concierge service, an on-site management office, and an array of amenities. The crown jewel is the spectacular roof deck with panoramic views of Central Park, the Reservoir, and sweeping sunsets over Manhattan. Additional conveniences include garage access from within the building, a bicycle room, laundry facilities, and five elevators. Pets are welcome. Verizon Fios and Time Warner are both available.

This superbly run co-op requires a 40% minimum down payment and has no flip tax, ensuring long-term stability and financial strength.

11 East 36th Street, Unit 906

11 East 36th Street, Unit 906

midtown south, manhattan

Asking $1,349,000

2 bed  |  2 Bath | Condo

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Welcome home to this quiet 2 bed/2bath condominium in midtown south. This apartment has 12.5 foot ceiling heights, gorgeous wide plank oak floors, Central AC, including a nest thermostat, and copious closet space. The Living room and Primary bedroom face north onto 37th street, whereas the large second bedroom faces east. The Kitchen is open style with an island and bar, and features Calacatta Marble countertops and white lacquer cabinetry. It includes a SubZero fridge and freezer, a Bosch dishwasher, and microwave. Both stovetop and oven are electric. There is also a built out pantry across from the kitchen. The living room has space for both a dining table as well as living room furniture. The Primary bedroom fits a King sized bed and has custom walk through closets into the luxurious bath with separate shower and Neptune soaking tub. There is also a motorized black out shade for this bedroom. The Second Bedroom has plenty of space and is bright, with an oversized closet. The second bath is located next to the second bedroom and has a stall shower. Both baths feature porcelain tiles and limestone flooring.There is also a laundry room, with plenty of space for utilities.

Privacy and Comfort are paramount at The Morgan Lofts, a boutique condo, with only six units per floor. Here Soho style proportions meet finishes chosen by renowned interior designer Andres Escobar. There is a full time doorman, roof deck, gym, and two lobby entrances. There is easy access to midtown and trains on both the east and west side. Across the street is the new TMPL premium gym, their largest flagship location which has a literal wonderland of features including a cold plunge pool, infra red spa and more. The Morgan Library is one block away, along with many restaurants and all that Madison and 5th Avenues have to offer downtown. Minutes from Grand Central Terminal.

Please note: There is an assessment in place through December 2026 of $1,066.67 per month for this unit. Taxes listed reflect primary ownership with Star tax abatement.

Design For ‘Floating’ 79th Street Boat Basin Dock House Gets Final Approval

More than 10 years after Hurricane Sandy extensively damaged the Upper West Side’s 79th Street Boat Basin and its dock house, and three years after it was temporarily closed, the city is moving forward with a replacement facility. The Public Design Commission last month voted to approve the design for the reconstruction of the boat basin and the new dock house by Architecture Research Office (ARO). The planned one-story building appears to float over the Hudson River, with nine columns supporting the structure above the dock, chamfered corners to allow for better views, and a stainless steel facade that reflects the surrounding water and sky.

The 79th Street Boat Basin is Manhattan’s only public marina and New York City’s sole marina that has a year-round houseboat residency. The basin opened within Riverside Park in 1937, as part of Robert Moses’s West Side Improvement Project, along with the 79th Street Rotunda. As of 2021, the marina had a 1,000-person, 15-year boater waiting list.

While it was once a happening hub of maritime culture in the city and an eccentric Upper West Side community, the boat basin has deteriorated over the last two decades, with storms like Hurricane Sandy causing irreparable damage.

In 2019, the city’s Parks Department revealed a $90 million plan to reconstruct the docks, make the area more resilient to climate change, and add more boating berths to increase capacity. Following Covid-related delays, in 2021, the city closed the marina, citing “excessive deterioration to the site’s wooden dock framework and concrete foundation.”

After several delays and design changes, the design by ARO received final approval in August from the Public Design Commission, allowing the project to move ahead with construction. In response to criticisms of earlier designs, the redesigned building will be 40 percent smaller than originally proposed, at 3,800 square feet, but bigger than the former structure.

“The PDC’s approval represents a significant milestone in the evolution of this project and our engagement with the community,” Adam Yarinsky, founding principal of ARO, said in a statement.

“As both a working facility and a symbolic gateway to the harbor, the new dock house will honor the city’s rich maritime heritage and connect people to the waterways that have shaped its identity.”

To maximize views of the Hudson River from the promenade, the dock house’s square plan is rotated 45 degrees to the shoreline and rises above the dock on columns. Plus, the building corners are chamfered to reduce its mass, and large windows allow for views into and out of the building, according to ARO.

The building features a stainless steel exterior, which takes on the color and quality of the surrounding sky and water, and a green roof. Drawing inspiration from the “69th Street Transfer Bridge, the trusses of the George Washington Bridge, and a boat’s rigging and sails,” diagonal structural columns create a triangular pattern.

Inside, the dock house will feature a locker room for the boat basin’s staff, bathrooms, and showers. There will also be slips for more boats and access points for kayaks.

Construction could take two years, with the project potentially wrapping up in 2028, according to West Side Rag.

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Design for ‘floating’ 79th Street Boat Basin dock house gets final approval

By Devin Gannon

September 8, 2025

All renderings courtesy of Architecture Research Office

323 West 43rd Street, Unit 1R

323 West 43rd Street, Unit 1R

hell’s kitchen, manhattan

Asking $800,000

2 bed  |  2 Bath | Co-op

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Don’t miss this rare opportunity to own an impeccably updated two-bedroom, two-bathroom HDFC co-op in the heart of Hell’s Kitchen.

This serene, full-width rear apartment welcomes you with great light, fine finishes, and incredible quiet. Throughout the home, gleaming hardwood floors, 9-foot ceilings, crown moldings, and tall updated windows create a sense of style and comfort. The spacious living room offers plenty of room to relax, while the versatile second bedroom, set behind French doors, makes it perfect as a guest room, office, or dining space.

The sleek, modern kitchen is a chef’s dream, featuring abundant custom cabinetry, granite countertops, and full-sized stainless steel appliances, including a gas stove and drawer dishwasher. The primary suite boasts an oversized walk-in closet, dedicated shoe storage, and an additional custom-outfitted closet, along with a private en-suite bathroom. A second full bathroom with chic tilework and contemporary fixtures completes the layout.

323 West 43rd Street is a well-maintained brick building offering a full-time superintendent, free central laundry, and exceptionally low monthly maintenance.

Income Restrictions Apply (165% of NYC AMI):
- 1 Person: $187,110
- 2 People: $213,840
- 3 People: $240,570
- 4 People: $267,300

Perfectly located at the crossroads of Hell’s Kitchen and Midtown, this home is surrounded by world-class dining, Broadway theaters, and just moments from Hudson Yards and Manhattan West. With nearly every subway line within blocks — A/C/E, 1/2/3, N/Q/R/W, 7, and the S — transportation couldn’t be easier. Sorry, no dogs.

17.6 Million Fewer Vehicles Entered Manhattan Since Congestion Pricing Launched This Year

Congestion pricing is (still) working. According to Gov. Kathy Hochul and MTA officials, 2.7 million fewer vehicles entered Manhattan below 61st Street in August, a 14 percent drop that matched June for the largest reduction recorded so far in 2025. The positive data comes about a month before a scheduled federal court hearing in October, where the Trump administration’s attempt to end the tolling system will be decided. Since the program began in January, the number of vehicles entering the zone is down 12 percent, with 87,000 fewer trips each day and 17.6 million fewer vehicles compared to last year.

According to the MTA, congestion pricing has reduced traffic, improved vehicle flow, and cut delays in Manhattan’s central business district and even in surrounding areas.

The program has also noticeably reduced gridlock on bridges and tunnels crossing the East and Hudson Rivers, speeding up commutes. Every crossing entering the congestion relief zone has seen morning peak travel times reduced in 2025 compared to 2024:

• Brooklyn Bridge: 13 percent faster

• Holland Tunnel: 36 percent faster

• Hugh L. Carey Tunnel: 16 percent faster

• Lincoln Tunnel: 5 percent faster

• Queens-Midtown Tunnel: 4 percent faster

• Queensboro Bridge: 21 percent faster

• Williamsburg Bridge: 23 percent faster

Crashes in the CBD are down 14 percent, and traffic injuries are down 15 percent. Earlier this summer, the Department of Transportation reported that pedestrian fatalities on city streets had hit historic lows, matching levels last recorded in 2018.

The benefits are being felt on public transit as well, with ridership increasing across all modes from January to August 2025 compared to the same period last year:

• Subway: 9 percent

• Bus: 13 percent

• Long Island Rail Road: 10 percent

• Metro-North: 7 percent

• Access-A-Ride: 22 percent

In its first four months, the program generated $215.7 million in revenue, keeping pace to net $500 million in 2025 after expenses, according to Bloomberg. That funding is essential for ongoing and planned transit projects, serving as a financial lifeline for the MTA’s five-year capital plan.

“With summer coming to an end, the benefits of congestion pricing are clearer than ever,” Hochul said. “This program has been nothing short of transformational, making streets safer, reducing gridlock across the region, and unlocking generational upgrades to mass transit, benefitting millions. Congestion pricing is working, it is legal, and the cameras are staying on.”

Despite its documented benefits, congestion pricing has been a political target of President Donald Trump, who vowed to eliminate the program during his first week in office.

In February, after retaking office, the Trump administration ordered Hochul to end the program by March 21. In response, the MTA filed a lawsuit to keep the program in place, and the U.S. Department of Transportation extended the deadline to April 20.

In April, U.S. Transportation Secretary Sean Duffy gave the governor until May 21 to either shut down the program or explain why the Federal Highway Authority should not impose penalties, which would begin on May 28. If the state failed to comply, Duffy threatened to withhold federal funding for NY’s transportation projects, as 6sqft previously reported.

Later that month, the Trump administration and NY transit officials reached an agreement to allow congestion pricing to continue through the fall, according to court filings. As part of the MTA’s lawsuit, the two parties will now present their arguments under a predetermined timeline expected to run until at least October.

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17.6 million fewer vehicles have entered Manhattan since congestion pricing launched this year

By Aaron Ginsburg

September 10, 2025

Cover Photo by Koon Chakhatrakan on Unsplash