The Monthly Update - July 2025

New York City's FARE Act: How This New Law Might Affect the Future Sales Market

The new law: On June 11, the Fairness in Apartment Rental Expense (FARE) Act passed last year by the New York City Council went into effect. Essentially, the law shifts the responsibility of paying broker fees from the tenant to the landlord or the property manager who hires the broker. If a landlord or management company hires a broker to list an apartment for rent, they must pay the broker fee, not the tenant. However, if the tenant hires a broker, they pay the fee. In short, the new legislation shifts the responsibility of the broker fee to the person who hires the agent to represent them.

Incidentally, from my experience selling and renting real estate in Manhattan and Brooklyn for over two decades, I'm well aware that renters haven't always paid broker commissions. The fee shifted from landlord to renter depending on the climate of the current market. There have been very tight rental markets with very low vacancy rates, and in those markets, the renter generally paid the fee, but not always. Paying agent's fees, plus giving renters incentives, have always been tools landlords used to lure renters into leasing in their buildings. Free gym memberships, free move-in fees, and discounted rents if the lessee signed for multiple years are all used to incentivize renters. In softer markets with higher vacancy rates, the term “no fee” apartments is used to signify to the renter that the landlord is paying the agent's commission. 

So, the pendulum of the agent fee swings back and forth depending on the property, the landlord's need and market conditions. However, now, no matter the market conditions, the commission for renting is the responsibility of the person who hires the agent to represent them in the rental transaction. 

Fall out: Immediately after the FARE went into effect, rents jumped by about $745 a month on average. Landlords and managing agents, who now have to pay at least one month's broker fee to the agent for leasing out their property, will simply amortize that cost into the existing rent, raising the rent to cover the broker fee.

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The average rent in New York City between January 1 and June 10 was roughly $4,750 a month. From June 11 to about June 27, the average rent climbed to about $5,495 (+15.7%) a month. It's worth noting that rent prices do tend to peak in the summer months, and most recent data shows average rent declining slightly in some reports.

How might this affect the sales market? Under current market conditions, rents were already increasing before the FARE Act. Now, they might grow even faster because managing agents and landlords need to pay their brokers. This situation could definitely affect sale prices, particularly if mortgage rates start to drop and the monthly average rent increases. 

One of my colleagues ran the numbers: She took an average one-bedroom apartment in Gramercy and a 20% down payment with an average HOA/common charges fee of $1,500 a month and an average sale price of $750,000. She calculated that the monthly cost would be about 10% less, on average, than the average rent for that neighborhood, which is currently $6,000 a month. It's an interesting argument; however, a fluctuating sale market and ever-increasing rental prices often change from week to week or month to month. 

We saw this a few years back when interest rates climbed to 8% and even 9%. The immediate result in the sales market was that it was no longer cost-effective for buyers to put 20% to 25% down on a purchase and pay substantially more in monthly costs than a rental might be. Especially when holding their down payment in a stock portfolio would offset any losses they would incur from "wasting money" on rent. In that scenario, many New Yorkers found their personal economics dictating they should not purchase real estate back in 2022 and 2023. But, everything is cyclical, and the buyers that weren’t purchasing back then and rented instead put a strain on the overall rental market and caused rental prices to start to increase. 

The FARE Act is going into effect in a tight rental market with less than 1% vacancy. Meanwhile, landlords are seemingly increasing rent prices to pay for the brokers representing their properties. This all adds up to an interesting few months ahead. Will rents continue to climb? Will previously reluctant buyers start to dip into the sale market for relief? No matter what the FARE Act fallout, we'll be watching this summer's real estate market with fascination!

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Team News

The Hoffman Team Was Ranked #6 in NYC

We’re beyond honored to share that we’ve been named the #6 real estate team in New York City and #96 in the entire nation by The Wall Street Journal and RealTrends for 2024, based on closed sales volume.

This milestone wouldn’t be possible without the trust, loyalty, and support of our incredible clients and customers. Whether you bought, sold, referred, or simply believed in us, thank you. Your confidence in our team means the world.

Every deal is more than just a transaction — it’s a relationship, a chapter in your life story, and a commitment we don’t take lightly. We're so grateful to be part of your journey and to continue raising the bar together.

- Ranked #6 in New York City

- Ranked #9 in New York State

- Ranked #96 in the U.S.

- Ranked in the top 0.01% of all real estate teams in the U.S.

- $171,000,000+ closed sales volume in 2024

- 76 closed sales in 2024

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Local Happenings

Macy's 4th of July Fireworks

JULY 4TH, 2025

Celebrate Independence Day with the nation’s largest fireworks display! The iconic Macy’s 4th of July Fireworks return to light up the NYC skyline with a dazzling show launched from barges along the East River. Enjoy synchronized pyrotechnics, a patriotic soundtrack, and prime views from Manhattan, Brooklyn, and Queens waterfronts.

Click HERE for more information!

FIAF Bastille Day Celebration

JULY 13TH, 2025

Celebrate French culture at NYC’s largest Bastille Day fête! Hosted by L’Alliance New York, this lively street fair features live music, can-can dancers, champagne tastings, French eats, artisan booths, and family-friendly fun across four festive blocks. Join thousands of revelers for a day of joie de vivre on the Upper East Side!

Click HERE for more information!

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Listing Spotlight

NYC Unveils New Safer Intersection Design

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New York City is rolling out a new intersection design aimed at better protecting pedestrians and cyclists at crash-prone locations. Unveiled Wednesday by Department of Transportation Commissioner (DOT) Ydanis Rodriguez, the design uses “hardened daylighting tools”—such as concrete barriers, planters, and other structures—to improve visibility at intersections, where roughly half of all traffic fatalities occur. The DOT plans to implement the design at select high-crash intersections alongside new and existing bike lanes across the city starting this year.

Hardened daylighting aims to improve visibility at intersections by placing barriers, granite blocks, planters, and other objects to prevent vehicles from parking too close to the corner. While DOT already implements daylighting at hundreds of intersections each year, this new design is specifically tailored to corridors with conventional bike lanes.

In a first-of-its-kind daylighting study, the DOT recently demonstrated that hardened daylighting significantly improves intersection safety. The agency said it will monitor the new installations to evaluate their effectiveness.

Locations to be redesigned in 2025 include Ocean Avenue at Church Avenue, Avenue J, Cortelyou Road, and Foster Avenue, as well as Avenue J at Bedford Avenue, and Rugby Road at Foster Avenue.

The intersections were selected based on several criteria, including their location in Tier 1 and Tier 2 Priority Investment Areas as defined by the Streets Plan—neighborhoods that have historically lacked investment in safe street infrastructure.

Sites with new or existing conventional bike lanes and a history of turning crashes, as well as locations with a high volume of truck turns, were also prioritized.

“Redesigning our streets under Vision Zero has helped us reduce traffic deaths to historic low—but we are always looking for new ways to keep people safe,” Rodriguez said. “Using barriers to clear space at the intersection will help ensure pedestrians, cyclists and turning vehicles can see each other and enhance safety.”

The intersection redesign continues DOT’s broader effort to improve bike infrastructure safety for cyclists, pedestrians, and drivers. Over the past three years, the agency has installed 87.5 miles of protected bike lanes, more than during any previous three-year span.

The expansion reflects the growing number of New Yorkers who bike daily—now over 600,000 trips each day, a 158 percent increase since 2008, when the city recorded 240,000 daily cycling trips.

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NYC unveils new intersection design to better protect cyclists, pedestrians

By Aaron Ginsburg

June 12, 2025

Cover Photo Credit: NYC DOT

215 East 24th Street, Unit 412A

215 East 24th Street, Unit 412A

kips bay, Manhattan

Asking $375,000

Studio  |  1 Bath | Co-op

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Make your home on a charming tree-lined street where Kips Bay meets Gramercy Park in this sunny south-facing studio loft with excellent storage at Penny Lane, a congenial full-service cooperative.

This smartly arranged studio welcomes you inside with hardwood floors, 10-foot-tall ceilings and a wonderful Juliet balcony with a sliding glass door framing open-sky views. The main living area offers a generous footprint for seating, dining and office areas, while stairs lead to a convenient storage/sleeping loft above. The convenient pass-through kitchen features great cabinet space, granite counters, a gas range, a refrigerator and a ceiling fan. In the bathroom, you'll find a large tub/shower and a roomy vanity cabinet. Three oversized closets in the foyer and three more in the living area ensure storage will never be a concern in this sunny studio sanctuary.

Penny Lane is a Tudor-inspired postwar co-op with a lobby designed to resemble a charming London street. Residents enjoy low monthly maintenance, 24-hour doorman service, a live-in superintendent, basement storage and bike room, two laundry rooms on each floor, an on-site parking garage with direct building access, and a stellar roof deck with panoramic views of the iconic skyline. Subletting after two years, co-purchasing, gifting and pieds-à-terre are permitted with board approval. Cats allowed; sorry, no dogs.

Set on a lovely block with commanding views of the Met Life clocktower, this Kips Bay home enjoys immediate proximity to the fantastic shopping, dining and nightlife venues in NoMad, the Flatiron District, Chelsea and Gramercy. Head to Madison Square Park for outdoor space and events, or enjoy Union Square's fantastic year-round greenmarket. Transportation from this accessible neighborhood is excellent with 6, N/R/W and L trains, multiple bus lines, two East River ferry landings and CitiBikes all within easy reach.

201 East 21st Street, Unit 15C

201 East 21st Street, Unit 15C

Gramercy, Manhattan

Asking $875,000

1+ Bed  |  1 Bath | Co-op

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Opportunity knocks in this spacious and refreshed one-bedroom, one-bathroom home featuring generous closet space and high-floor city views at Quaker Ridge, a beautifully maintained full-service building in desirable Gramercy Park.

Inside this expansive Junior 4, tall ceilings and oversized west and north-facing views create a bright and airy ambiance, while new parquet and tile flooring runs throughout. A huge foyer with a roomy coat closet and plenty of space for a home office area flows to a spacious living room with open-sky outlooks. Plan your next dinner party in the corner dining alcove, or transform the space into a second bedroom/home office as many C-line residents do. Bring your imagination to this galley kitchen which can easily be opened up to accommodate a breakfast bar with stools. The king-size bedroom offers ample closet space and easy access to the full bathroom, where you'll find a new vanity, large tub/shower and floor-to-ceiling tile. Fresh paint and additional closets complete this home that is waiting for its new owner. Move right in or put your personal stamp on this in-demand C-line home.

There's plenty to love about Quaker Ridge, a revered postwar co-op known for its excellent financials and low maintenance. Residents enjoy full-time doorman service and live-in superintendent, modern laundry facilities, private storage, bike storage and a residents-only parking garage with direct access to the building. Quaker Ridge allows co-purchasing, gifting and pets but does not permit guarantors or pieds-à-terre. Please note, there is a monthly energy charge of $124 that adjusts quarterly.

Here in the heart of Gramercy — just minutes from Union Square, the Flatiron District and NoMad — you're at the epicenter of exciting Manhattan living with abundant shops, restaurants, services and out-door space at every turn. Union Square and Madison Square Park put a dog park, greenmarkets and year-round events mere blocks away, and foodies will love the proximity to Whole Foods, Trader Joe's, Eataly and numerous Michelin-starred restaurants. Access to transportation is fantastic with 4/5/6, N/Q/R/W and L trains, excellent bus service and CitiBikes nearby.

The Hoffman Team is Ranked #96 in the U.S.

We’re beyond honored to share that we’ve been named the #9 real estate team in New York State and #96 in the entire nation by The Wall Street Journal and RealTrends for 2024, based on closed sales volume.

This milestone wouldn’t be possible without the trust, loyalty, and support of our incredible clients and customers. Whether you bought, sold, referred, or simply believed in us — thank you. Your confidence in our team means the world.

Every deal is more than just a transaction — it’s a relationship, a chapter in your life story, and a commitment we don’t take lightly. We're so grateful to be part of your journey and to continue raising the bar together.

• Ranked #9 in New York State based on closed sales volume for 2024

• Ranked #96 in the U.S. based on closed sales volume for 2024

• Ranked in the top 0.01% of all real estate teams in the U.S.

  • $171,000,000+ closed sales volume in 2024

  • 76 closed sales in 2024

176 West 87th Street, Unit 2B

176 West 87th Street, Unit 2B

upper west side, Manhattan

Asking $2,250,000

3 Bed  |  2.5 Bath | Co-op

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Classic Six grandeur and charming updates await in this beautiful three-bedroom, two-and-a-half-bathroom residence, featuring an elegant layout, generous closet space and treetop views in a full-service Upper West Side co-op ideally located between Central and Riverside parks.

Inside this sprawling home, tall ceilings rise above classic millwork, parquet and tile floors, glass doors, and oversized windows along the eastern and southern exposures. The oversized foyer makes an inviting first impression. Ahead, the open-plan living/dining room is perfect for relaxing and entertaining alongside built-in cabinetry and a contemporary ceiling fan.

The home's northern wing, accessible from the dining area and a service entrance, boasts an updated windowed kitchen. Here, white cabinetry, black granite countertops and subway tile backsplashes surround stainless steel appliances, including a gas cooktop, French door refrigerator, dishwasher and built-in microwave. The traditional maid's room suite is perfect for a home office and includes a half-bathroom and in-unit washer-dryer, while two adjacent closets complete the space.

In the southern wing, you'll find a corner primary bedroom offering a wall of closets, double exposures, a ceiling fan and king-sized proportions. The adjacent bathroom impresses with a large tub/shower and floor-to-ceiling fish scale tile. A third bedroom with an en suite bathroom and three roomy hall closets complete this exceptional Upper West Side sanctuary.

Built in 1918 and converted to cooperative use in 1983, 176 West 87th Street is a handsome building featuring full-time doorman and live-in superintendent service, a lovely marble lobby, a fitness center, central laundry, a children's playroom, a bike room, storage, and a wonderful landscaped roof deck with panoramic views. Pets, pieds-à-terre, subletting and 80% financing are permitted with board approval. A 3% flip tax is paid by the seller.

Beautifully located at 87th Street and Amsterdam, this home offers front-row access to the Upper West Side's fantastic shopping, dining, nightlife and popular gourmet markets, including Barney Greengrass right downstairs. Explore hundreds of acres of iconic outdoor space with Riverside Park and Central Park just blocks away. Transportation is effortless with 1/2/3, B and C trains, excellent bus service and CitiBikes all nearby.

Coney Island’s Mermaid Parade Returns Saturday

The colorful, sea-inspired Mermaid Parade splashes back onto the Coney Island boardwalk this weekend for its 43rd year. Hosted by the nonprofit Coney Island USA, the beloved event is the nation’s largest art parade, drawing around 5,000 participants in hand-crafted, sea-themed costumes and elaborate floats. This year’s celebration takes place on Saturday, June 21, at 1 p.m., rain or shine.

Founded by the nonprofit in 1983, the Mermaid Parade is an homage to the neighborhood’s Mardi Gras parades from the early 20th century. Celebrating ancient mythology and seaside rituals, the parade shows off the city’s creativity and community pride.

Photo courtesy of Norman Blake

Visitors can expect to see vibrant costumes and floats, marching bands, drill teams, dancing, antique cars, and more, as 6sqft previously reported.

The parade kicks off at 1 p.m. at West 21st Street and Surf Avenue. It then proceeds east along Surf Avenue to West 10th Street, turns south toward the boardwalk, and continues west to Steeplechase Plaza.

This year, Eugene Hütz, singer of the Gypsy punk band Gogol Bordello, and New York–based singer, songwriter, and performance artist Queenie Sateen will serve as King Neptune and Queen Mermaid. In keeping with tradition, the pair will be wheeled through the parade in an antique wicker boardwalk chair dating back to 1923.

Previous King Neptunes and Queen Mermaids have included Lou Reed, David Byrne, Queen Latifah, Annabella Sciorra, Harvey and Daphne Keitel, and other famous figures.

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Photo courtesy of Norman Blake

Our King and Queen this year are two amazingly talented and artistic New Yorkers,” Adam Rinn, Coney Island USA’s Artistic Director, said. “I’ve been a fan of Gogol Bordello since their first album came out. Eugene basically created Gypsy Punk!”

Quinn continued: “Queenie has been a fixture on the club scene for some time. She was one half of the duo Sateen and her first solo single ‘Downfalling’ comes out just a week after the Mermaid Parade! We’re so excited to welcome these two boundary-pushing artists as our royalty.”

At 4 p.m., Rinn will lead the King and Queen in a procession to the beach on 19th Street, where they will officially open the beach for the summer swimming season.

Parade registration takes place from 10 a.m. to 1 p.m. in the parking lot between West 21st and West 22nd Streets along Surf Avenue. Learn more about the Mermaid Parade here.

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Coney Island’s Mermaid Parade returns to the boardwalk on Saturday

By Aaron Ginsburg

June 16, 2025

Cover photo courtesy of Eliza Rinn

635 West 42nd Street, Unit 12D

635 West 42nd Street, Unit 12D

Midtown west, Manhattan

Asking $795,000

1 Bed  |  1 Bath | Condo

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Welcome to Residence 12D at The Atelier, a premier full-service condominium located at 635 West 42nd Street in the vibrant Midtown West neighborhood. This spacious one-bedroom, one-bathroom home features floor-to-ceiling windows with stunning northwestern exposure, offering dramatic views of the city skyline and an abundance of natural light throughout the day. The open-concept living and dining area is ideal for entertaining, while the sleek, modern kitchen is outfitted with high-end finishes including granite countertops, white oak cabinetry, and a suite of premium appliances from Bosch and Sub-Zero.

The bedroom is generously sized, offering excellent closet space and serene privacy. The bathrooms are elegantly finished with marble surfaces and spa-style appointments. Additional highlights include wide-plank white oak floors, an in-unit washer and dryer, and central climate control for year-round comfort.

Residents of The Atelier enjoy an exceptional array of resort-style amenities, including a 24-hour doorman and concierge, a rooftop terrace with panoramic river and city views, a sky-lit indoor pool, state-of-the-art fitness center, basketball and tennis courts, a movie theater, children's playroom, and more.

Perfectly located near Hudson Yards, the Hudson River Greenway, and the theaters and restaurants of Hell’s Kitchen, Unit 12D offers a rare opportunity to experience luxury, convenience, and lifestyle at one of Manhattan’s most sought-after addresses. Whether you're looking for a full-time residence or an investment opportunity, this is a home that truly stands out.

33 Riverside Drive, Unit 5D

33 Riverside Drive, Unit 5D

upper west side, Manhattan

Asking $739,000

1 Bed  |  1 Bath | Co-op

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Welcome to 33 Riverside Drive—a rarely available, impeccably renovated prewar gem offering timeless elegance, grand proportions, and an unbeatable location directly across from Riverside Park.

Enter through a gracious foyer into a sprawling living room, where classic herringbone hardwood floors and soaring 9-foot beamed ceilings set a sophisticated tone. The fully renovated, windowed eat-in kitchen is a chef’s dream, featuring brand-new white Shaker cabinetry, a sleek stone backsplash, and all-new stainless steel appliances. A delightful dining nook is perfectly positioned by the window—an ideal spot for morning coffee or casual meals.

A private hallway separates the living area from the serene sleeping quarters. The king-size bedroom enjoys coveted corner exposures, abundant natural light, and custom-built closets. The brand-new, windowed bathroom is outfitted with designer subway tiles and a spacious vanity for ample storage.

Located at the corner of 75th Street, 33 Riverside Drive is a full-service, pet-friendly cooperative offering a suite of desirable amenities, including a full-time doorman, live-in resident manager, laundry facilities, bike storage, and private storage. This distinguished building has long attracted discerning residents—musical legends George and Ira Gershwin once called its penthouses home, and composer Sergei Rachmaninoff previously resided on the same historic site.

Pied-à-terres, in-unit washer/dryers, co-purchasing, gifting, and guarantors are all considered on a case-by-case basis.

The Monthly Update - June 2024

High-End Heat: A Look at May's Luxury Market Data

Manhattan’s luxury real estate market is surging. During the week of May 19th, 55 contracts were signed for properties priced at $4 million and above—marking the busiest single week in the segment since November 15th, 2021, when 67 contracts were signed. For context, that 2021 figure was the highest since tracking began in 2006. The total dollar volume for the week of May 19th topped $400 million—an impressive showing for a seven-day stretch and a clear sign that confidence has returned to the top end of the market.

Looking at the full month, May 2025 stands out as the strongest May for luxury contracts signed since the post-COVID rebound in 2021 and 2022. This month, 155 luxury contracts were signed—well above the 118 recorded in May 2024 and the 129 in May 2023. The strong performance confirms that high-end buyers are returning in force, bringing renewed energy to the Manhattan luxury market.

So far this year, the upper tier is clearly leading the way. Listings priced at $2 million and above are up 18% year-over-year, while listings under $2 million have increased by just 2.6%. And it’s not just a matter of quantity—the quality of deals is improving as well. The average luxury property is now selling at just 7% below the original asking price, compared to the 15%+ discounts seen in 2021. Days on market have also dropped significantly—from 174 days to about 100—indicating a faster-moving, more competitive environment.

Several factors are fueling this momentum. Chief among them is the performance of the stock market. The S&P 500 is on pace for its best May since 1990, gaining around 6% this month alone. When markets are strong, affluent buyers tend to feel more confident—and more liquid—prompting them to move capital into real assets like real estate, especially in globally resilient markets such as New York City.

Meanwhile, the ultra-wealthy continue to accumulate capital. The U.S. now has over 6 million millionaires, nearly 11,000 centi-millionaires (with $100 million or more), and more than 850 billionaires. A substantial share of that wealth is based in New York, which remains the world’s wealth capital with more than 380,000 millionaires.

Given this backdrop, it’s no surprise that the luxury segment is moving faster and commanding stronger interest from the purchase market. Today’s high-end buyers aren’t just shopping for trophy homes—they’re making strategic financial decisions. They’re parking capital, hedging against inflation, and placing long-term bets on the strength and resilience of New York City.

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Local Happenings

The 43nd Annual Mermaid Parade

June 21st, 2025

Coney Island USA presents the 43rd Annual Mermaid Parade on. The parade begins at 1:00 PM, rain or shine. Known as the nation’s largest art parade, this vibrant celebration features imaginative costumes, hand-made floats, and an outpouring of creative expression. Spectators and marchers alike are welcome to join the post-parade festivities.

Click HERE for more information!

Free Movie at the Intrepid Museum

June 27th, 2025

Join the Intrepid Museum’s Summer Movie Series for a special screening of Pirates of the Caribbean: Dead Man’s Chest on the flight deck. Inspired by the museum’s new exhibition, Mysteries From the Deep. Doors open at 6:00 PM, with last entry at 8:30 PM.

Click HERE for more information!

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Listing Spotlight

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Stay Connected

Tomorrow: The Met Reopens The Rockefeller Wing With Free, All-Day Festival

The Metropolitan Museum of Art will celebrate the long-awaited reopening of its Michael C. Rockefeller Wing this month with a free festival. Taking place on May 31, the all-day event will celebrate the unveiling of newly reimagined galleries for the Arts of Africa, ancient Americas, and Oceania following a four-year, $70 million renovation. Visitors can enjoy live music, interactive art-making, gallery chats, and more at the Met, all inspired by the stunning art and cultures showcased in the updated wing.

The celebration begins with a ribbon-cutting ceremony from 9 a.m. to 10:30 a.m., and festivities across the museum from 12 p.m. to 6 p.m.

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Arts of Africa collection. Photo by Brigit Beyer

From 1 p.m. to 6 p.m., vendors and independent chefs from the Queens Night Market will serve pre-colonial menus inspired by the galleries’ collections. Featuring chefs with Indigenous ancestry and deep local ties, the offerings will include carefully researched dishes from Sierra Leone, Nigeria, Ethiopia, Hawaii, New Zealand, Peru, and more.

Visual artist Manny Vega will lead a mosaic workshop on David H. Koch Plaza, presented in partnership with The Clemente. Participants will respond to works from the Met’s collection by creating personal emblems in mosaic, contributing to a large-scale communal artwork designed by Vega that reflects the diverse and personal “diasporic pathways” converging in New York City.

Additionally, artists Nilda Callañaupa Alvarez and Teokotā’i Paitai will demonstrate weaving techniques from Peru and Oceania, guiding visitors as they craft their own. Other festival activities include drum-making workshops and a collaborative community mural.

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Arts of Africa collection. Photo by Brigit Beyer

On the plaza, visitors can connect with the city’s diverse communities through the work of community-based organizations that celebrate cultural heritage and creativity. Participants include Artistic Noise, Asian/Pacific/American Institute at NYU, Caribbean Cultural Center African Diaspora Institute (CCCADI), Cetiliztli Nauhcampa, Hālāwai NYC, FORGOTTEN LANDS, Pachamama Peruvian Arts, and Pacific Island Film Festival of NYC.

The festival will also feature music and dance from across Africa, the Americas, and Oceania, including traditional Hawaiian and Tahitian performances by Te Ao Mana, Senegalese drumming by MAX Percussion, West African dances by the Asase Yaa Cultural Arts Foundation’s Youth Ensemble, and the soulful melodies of Mariachi Real de México.

Curators, artists, and scholars from the Met will be on hand throughout the afternoon to offer insights into the newly renovated galleries and share their expertise on the museum’s collections from Africa, the ancient Americas, and Oceania. Ethiopian-American filmmaker Sosena Solomon will also present a film series she directed in partnership with the World Monuments Fund, highlighting Africa’s cultural landmarks.

The celebration will conclude with a talk by architect Kulapat Yantrasast, founder of WHY Architecture, joined by Met Director and CEO Max Hollein. Together, they’ll discuss the vision behind the wing’s reimagining, share behind-the-scenes insights, and reflect on the evolving role of architecture in today’s museums.

“This celebration for the Michael C. Rockefeller Wing reflects the extraordinary spirit of creativity and community that is so essential to The Met and New York City itself,” Hollein said.

“After four years of transformation, we are delighted to welcome everyone to celebrate this reopening with a festival that will offer opportunities for art lovers of all ages to experience the historic reimagining of these collections through the objects, ideas, music, and dance of the cultures represented in the galleries.”

The multi-year renovation, led by WHY Architecture in collaboration with Beyer Blinder Belle Architects and the Met’s Design Department, modernized the galleries and transformed the visitor experience by incorporating innovative technologies that present the collections in new ways.

Comprising more than 11,000 artworks made from a wide range of materials, the Arts of Africa, Ancient Americas, and Oceania galleries highlight the distinct cultural traditions of these regions, spanning from as early as 3000 BCE to the present day.

Highlights include decorative and ceremonial objects from the Court of Benin in Nigeria, sculpture from West and Central Africa, religious and spiritual imagery from New Guinea, Island Melanesia, and Polynesia, and gold artifacts from the pre-Columbian cultures of Mexico and Central and South America.

Learn more about the festival here.

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The Met to reopen Rockefeller Wing with free, all-day festival

By Aaron Ginsburg

May 23, 2025

Cover Photo: Arts of the Ancient Americas collection. Photo by Brigit Beyer

162 16th Street, Unit 7C

162 16th Street, Unit 7C

park slope, brooklyn

Asking $1,250,000

2 Bed  |  2 Bath | Condo | Private Parking

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Experience great views, a spacious layout, and a full suite of modern comforts in this stunning 2BD/2BA South Slope condo — the one you've been waiting for.

The expansive living room features floor-to-ceiling windows that frame the city's skyline and open onto a private balcony, perfect for morning coffee, evening cocktails, or al fresco dining. The thoughtfully designed U-shaped kitchen boasts abundant cabinetry and counter space, sleek walnut finishes, Caesarstone countertops, and upgraded stainless steel appliances.

Retreat to the king-size corner primary suite, where dual exposures offer open Brooklyn views. This serene sanctuary also includes a custom walk-in closet and a spa-like en-suite bath with a cherry wood vanity and limestone flooring. The second bedroom is ideal as a guest room, nursery, or home office. A second full bath and in-unit washer/dryer add to the home’s convenience.

This pet-friendly elevator building offers a range of resident amenities, including a renovated fitness center with a Peloton bike, bike storage, a modern playroom, a package room, and a live-in super. A tax abatement is in effect through 2033.

Perfectly located just off vibrant 5th Avenue, you’re moments from an array of shops, restaurants, the R train, and major highways — blending comfort, style, and convenience in one exceptional South Slope address.

There is a monthly assessment of $92.29/mo (unit and parking)

NYC Wants to Turn Vacant Lots Into Public Parks

Vacant lots across New York City could soon become lush green spaces. Mayor Eric Adams on Tuesday announced plans to transform underutilized and abandoned lots into parks, playgrounds, and green space in neighborhoods lacking open public space. The $30 million proposal includes going through the city’s uniform land use review procedure (ULURP) to allow for multiple locations in a neighborhood to be reviewed in one application. Earlier this month, the Parks Department submitted applications for 44 sites in the first two community districts identified, Brooklyn Community District 5 and Queens Community District 3.

Credit: Ed Reed/Mayoral Photography Office on Flickr

“Access to high-quality parks is not a luxury, it is a necessity for the health and wellness of our communities. Expanding our green spaces is just one of the ways we’re making New York City the best place to raise a family,” NYC Parks Commissioner Donoghue said. 

“We’re committed to supporting creative efforts to add more open space in the city so that every New Yorker — regardless of your zip code — has room to play, grow, and gather outside.”

The city’s Parks Department would also acquire vacant lots by transferring them from other city agencies. Most new land acquired by Parks over the past three years has come from such transfers at no cost.

Parks has identified 19 community districts that lack sufficient green space and has begun submitting one ULURP application per district. Each application covers multiple small sites within these areas. While not every site will be acquired, successful applications will allow Parks to purchase the included properties.

Parks recently submitted applications for 44 sites in Brooklyn Community District 5, which includes East New York and Cypress Hills, and Queens Community District 3, home to Jackson Heights, East Elmhurst, and Corona.

Made possible by Adams’ “Get Stuff Built” initiative, these neighborhood-scale ULURPs streamline the zoning process by allowing multiple sites to be reviewed at once, cutting red tape and accelerating approvals.

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Brooklyn Community District 5 sites. Credit: NYC Parks

Parks collaborated with the Departments of City Planning and Housing Preservation and Development to identify sites best suited for parkland, based on factors such as size, location, and the status of neighboring properties.

The proposal is part of the city’s “Vital Parks for All” initiative, unveiled in June 2024. The $3.2 billion plan focuses on preserving existing park facilities, expanding accessibility in underserved neighborhoods, and improving New Yorkers’ understanding of the health of their local parks.

The announcement falls under Adams’ “We Outside Summer” initiative, which includes events, investments, and programs to “ensure New Yorkers have a safe, enjoyable summer,” according to the city.

“Today, we’re announcing a new effort to turn vacant, abandoned lots into parks — bringing more green spaces to neighborhoods across New York City that don’t currently have access to them. This initiative builds on our administration’s commitment to put a park within walking distance of a park because access to parks is critical, and as summer arrives, we’re working hard to deliver green spaces to the areas most in need across the five boroughs.”

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NYC wants to turn vacant lots into public parks and playgrounds

By Aaron Ginsburg

May 28, 2025

Cover Photo by Jim.henderson on Wikimedia

247 West 46th Street, Unit 2305

247 West 46th Street, Unit 2305

theater district, Manhattan

Asking $1,099,000

1 Bed  |  1 Bath | Condo

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Your perfect urban retreat awaits in this flawless one-bedroom, one-bathroom home featuring modern interiors, wide-open views and an ideal location in a full-service, amenity-rich condominium in the heart of Midtown Manhattan.

Inside this nearly 750-square-foot contemporary home, ceilings rise 9.5 feet tall over hardwood floors and walls of windows capturing Eastern sunlight and high-floor skyline views. The large living room provides a generous footprint for seating, dining and home office areas, while the separate kitchen pairs lacquer and wood cabinetry with sleek quartzite countertops and lava stone tile backsplashes. The elite Thermador appliance package includes a vented gas cooktop, oven, French door refrigerator, dishwasher and wine refrigerator.

Rise with the sun in the spacious king-size bedroom featuring a roomy closet and Eastern exposures. The spa bathroom impresses with a frameless glass rain shower and freestanding soaking tub surrounded by floor-to-ceiling tile and river rock details. Two additional closets and an in-unit Bosch washer-dryer complete this exceptional city sanctuary.

Built in 2007, Platinum is a luxury condominium that greets residents with a dramatic lobby featuring a 26-foot-long fireplace and 24/7 doorman/concierge service. Indulge in world-class amenities, including a state-of-the-art fitness center, an indoor-outdoor yoga studio, spa treatment rooms, a sauna, a golf simulator, a resident lounge, and a stunning landscaped terrace with a stone fireplace and glorious views. The pet-friendly building also offers a dog run, card-access security, private storage, and a two-level on-site parking garage.

Perfectly positioned where Hell's Kitchen meets the Theater District, this Midtown home is surrounded by an endless array of fantastic shopping, dining, nightlife, entertainment and iconic outdoor space. Enjoy endless theaters and performance venues right outside your door, while 500-acre Hudson River Park, Central Park and The High Line provide acres of outdoor recreation minutes away. Hudson Yards, Manhattan West and the Shops at Columbus Circle deliver outstanding retail therapy and upscale dining, and you can travel the city with ease thanks to A/C/E, 1, N/R/W and B/D trains, excellent bus service and CitiBike stations all nearby.

1065 Park Avenue, Unit 11A

1065 Park Avenue, Unit 11A

upper east side, Manhattan

Asking $2,000,000

2 Bed  |  2.5 Bath | Co-op

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Enjoy elegant Upper East Side living in this coveted A-line two-bedroom, two-and-a-half-bathroom home featuring an expansive open layout, wonderful natural light, and dramatic Park Avenue views in a full-service Carnegie Hill cooperative.

Inside this beautifully arranged layout, oversized rooms boast tall ceilings, hardwood floors, and triple exposures facing north, west, and south. A gracious entry with a coat closet opens to a large living room and dining alcove, perfect for relaxing and entertaining alongside views of the surrounding historic architecture and landscaped Park Avenue Mall below. The windowed kitchen offers rows of custom wood cabinetry and a breakfast counter topped with black granite, while the full-size appliances include a glass cooktop, oven and dishwasher. A chic powder room adds convenience to the living areas.

Head to the sprawling owner's suite to find a king-size corner bedroom with three roomy closets and plenty of space for a sitting or home office area. The windowed en suite bathroom features a large tub/rain shower with a glass partition, a sizeable vanity and medicine cabinet, all surrounded by floor-to-ceiling tile. The secondary bedroom offers a generous layout, big closets, and easy access to a second full bathroom featuring a walk-in shower with multiple body sprayers. A linen closet and PTAC heating/cooling complete this spacious and bright Park Avenue retreat.

Located within the Park Avenue Historic District, Carlton Park is a postwar co-op designed by architect-builder Stephen C. Lyras in 1969 with handsome travertine marble and buff brick. Here, residents enjoy full-time doorman, concierge and live-in resident manager service, plus a landscaped, recessed entry plaza, an updated lobby, laundry, storage (at an additional cost), bike storage, and on-site parking (at a discounted rate). Pets, pieds-à-terre, in-unit washer-dryers and up to 75% financing are allowed with board approval. The 2% flip tax is split by the buyer and seller. Showings by appointment, Monday – Friday between 9:00 a.m. and 4:00 p.m.

From its commanding position at the corner of Park Avenue and 87th Street, this home embraces both residential serenity and easy accessibility to the coveted Upper East Side lifestyle. Wonderful boutiques, cafés and services line nearby 86th Street and Madison Avenue. Central Park and the Reservoir unfold less than two blocks away, and revered Museum Mile institutions, including the Guggenheim and the Met, put world-class art just inches from your door. Foodies will love the proximity to Butterfield Market, Morton Williams, Whole Foods and Fairway. Transportation is effortless with 4/5/6 and Q trains, excellent bus service and CitiBikes all within reach.
There is currently a monthly assessment of $358.48 in place.

Macy’s Flower Show Is Open and Turns 50!

The 50th annual Macy’s Flower Show opened in Herald Square on Sunday, transforming the iconic department store into a breathtaking garden filled with thousands of lush plants and flowers. In honor of its semicentennial, this year’s event has been extended to three weeks of festivities, running through May 18. The show also features a partnership with YSL Beauty, offering an immersive experience that encourages guests to embrace freedom and celebrate the transformative power of nature.

For five decades, the cherished event has given visitors a chance to witness thousands of vibrant flowers blooming together across the store’s famed window displays, balconies, and main floor.

The show debuted in California in 1946 to promote fragrances in the cosmetics department before coming to Herald Square in 1975 and quickly becoming a beloved yearly tradition, as 6sqft previously reported.

Hours of careful work go into producing the spectacle, which features 8,000 plants and 50,000 stems that blend together in banana-yellow blooms, pink swirls, and purple necklaces, according to the New York Times. Each night, watering the display takes approximately six to nine hours, as workers carefully climb ladders to reach plants tucked into high and hard-to-access corners of the department store.

The installation is designed to conform to the building’s unique interior—”defined generations ago” by architects and engineers—with each pillar encased in “column surrounds” that are first wrapped in cloud-printed blue vinyl and then adorned with layers of vibrant flowers, according to Will Coss, the Macy’s executive who oversees events like the Flower Show, in an interview with Times.

This year’s show features an immersive installation from YSL Beauty, “Beauty Art of Flowers.” The exhibition invites visitors into a world where natural beauty reigns and challenges the norm. The experience begins outside, where guests are greeted by colorful floral decorations adorning Macy’s 34th Street facade.

Inside, the journey continues with a bold landscape showcasing the main olfactive notes in YSL Beauty’s new Libre L’eau Nue line—the brand’s first alcohol-free citrus floral scent. According to a press release, the scent uses unique oil-in-water “fragrance proprietary technology.”

Next, visitors encounter a captivating display inspired by the powerful scent of Libre, with fresh lavender and golden orange blossoms decorating the space. The Flower Show then evolves into a dazzling experience, adorned with ferns and geraniums, channeling the energy of YSL Beauty’s “MYSLF” line

Guests then move through an engaging blue space inspired by Y, where fresh sage and stunning blue geranium flowers surround and excite onlookers. The journey culminates in a pop-up boutique, where guests can try YSL’s new Loveshine Plumping Lip Oil Gloss.

Visitors will also receive gifted lily-filled bouquets, couture personalization exclusive to Macy’s Flower Show, on-site bottle engraving and watercolor art, and limited-edition flower charms.

“YSL Beauty US is thrilled to be partnering with Macy’s for their 2025 Flower Show, a true retail statement from an iconic retailer. Flowers, in their daring and raw beauty, are at the heart of our products, but also our brand—and have served as a constant source of inspiration for M. Saint Laurent,” Juliette Ferret, U.S. general manager at YSL Beauty, said.

“They represent the vulnerability, beauty, and possibility in our world, which we try to always amplify. The YSL Beauty Art of Flowers experience epitomizes the spirit and vision of the brand and we’re honored to bring this to life.”

Other exciting partnerships for this year’s show include Lego Bloom and Beyond, an intricate, floral-themed display, a mosaic wall, and flower carts showcasing Lego Botanicals. Visitors can also participate in a “brick in hand” build experience called “Build-a-Bloom” on select days.

Additionally, Holland American Line will celebrate over 150 years of its history with a wave-inspired tulip garden that flows throughout the store, inspired by vibrant spring tulip fields.

This year’s event also includes a dedicated Macy’s Flower Show and Surrealist Garden product collection, celebrating the vibrant color experiences featured throughout the display. The collection offers exclusive items such as home goods, jewelry, and sleepwear, along with special collaborations with brands like Kendra Scott, MarieBelle, and Lovery.

“We believe in bringing events to life in our stores and this year’s 50th Macy’s Flower Show is a breathtaking example of that commitment. We create spectacular experiences throughout the year and transform our iconic Herald Square flagship into an immersive destination that inspires and delight,” Sharon Otterman, chief marketing officer at Macy’s, said.

“This spring we will welcome more than one million customers to Macy’s Flower Show to experience wonder and joy that only we can deliver.”

This year’s Flower Show comes as Macy’s continues its “Bold New Chapter” strategy, which includes closing roughly 150 underperforming stores by 2026, including five locations in New York City. In January, Macy’s sold its location at 422 Fulton Street in Downtown Brooklyn for just $23 million.

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Macy’s Flower Show turns 50 with surrealist gardens and thousands of blooms in Herald Square

By Aaron Ginsburg

May 1, 2025

All photos courtesy of Macy’s, Inc.

24 East 7th Street, Unit 9B

24 East 7th Street, Unit 9B

East Village, Manhattan

Asking $850,000

1 Bed  |  1 Bath | Co-op

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Don't miss an extraordinary opportunity to create your downtown dream home in this expansive one-bedroom, one-bathroom home featuring a private balcony and wide-open views in an amenity-rich, postwar East Village co-op.

A gracious foyer flanked by a coat closet welcomes you inside this incredibly spacious apartment filled with tall ceilings, parquet wood floors and plenty of wall space for artwork. Ahead, the sprawling 331-square-foot living room provides a generous footprint for seating and dining areas alongside oversized north-facing windows. The windowed kitchen accommodates abundant cabinet space and full-size appliances, while the wide balcony tempts you outside to take in unimpeded views that stretch all the way to the Chrysler building and beyond.

Past the living room, a wide hallway could easily accommodate a dressing area or home office space on the way to a king-size bedroom featuring roomy closets and south-facing views of One World Trade. A full bathroom with a large tub/shower completes the desirable layout. Bring your contractor and start planning the perfect East Village sanctuary today.

Built in 1991, 24 East 7th Street is a modern elevator building offering part-time superintendent service, virtual doorman entry, a central laundry room, resident storage, and a landscaped 7th-floor terrace with glorious views. Pieds-à-terre, parents buying for children and subletting after three years are allowed with board approval. Sorry, no dogs.

Positioned where the East Village meets NoHo and the Lower East Side, this home's vibrant neighborhood is filled with Michelin-starred restaurants, hip cocktail bars and long-time New York institutions like McSorley's, Veselka, Russ & Daughters, Katz Deli and Webster Hall. Enjoy easy access to Target, Wegmans and Whole Foods, or head to Tompkins Square Park, Washington Square Park, Union Square and Roosevelt Park for outdoor space and recreation. Transportation is effortless with 4/5/6, N/Q/R/W and L trains, excellent bus service and CitiBikes nearby.

The Monthly Update - May 2025

Are We Seeing a Seasonal Lull — or a Market Shift?

The Manhattan real estate market entered Q2 with solid momentum. Rolling 30-day contract activity crossed 1,100 — a benchmark not seen during any of the past three spring seasons. But by late April, that momentum began to slow, aligning with seasonal expectations and possible emerging economic uncertainties.

Spring breaks, religious holidays, and travel typically lead to a dip in activity this time of year. That’s part of the current story. But a few broader market signals suggest it may not be just seasonality at play.

Contract Activity: Seasonal Dip or Something More?

Only 206 contracts were signed in the final week of April, a roughly 16% drop from the prior week. While that figure is still above historical lows, it’s lighter than what’s typically needed to sustain a strong spring market.

This slowdown overlaps with Passover and Easter, which likely muted activity. Still, comparisons to 2023 — when regional banking stress pulled weekly contract signings down to 140 — suggest it’s worth watching whether this is a brief pause or a signal of a more cautious market.

Looking Ahead: Questions Remain

Heading into May, the key question is whether contract activity can rebound back well above 200 deals per week in a stable way. So far, there’s no sharp drop, but there's also no clear sign of acceleration.

As Noah Black of UrbanDigs recently noted, “We are in the midst of a shifting market. It’s too early to tell how far, how deep, or how severe the shift will be — but you can see the early stages of it developing in the data.”

Pricing data remains solid for now. Condo resale prices in March averaged $1,493 per square foot — likely reflecting contracts signed during a stronger stretch in late winter. As April closings are finalized, we expect that trend to continue in the short term, though there’s a risk that data will soften if activity remains muted.

Conclusion: A Transitional Moment

The Manhattan market appears to be in a transitional phase — not accelerating, but not sharply declining either. The coming weeks will help clarify whether April’s slowdown was a short-term seasonal pause or an early indication of broader market hesitation. For now, the data suggests a market that’s still active but more cautious as it digests new economic variables.

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Bryant Park Spring Makers Market

Every Friday - Sunday in May

Shop local at the Makers Market by Urbanspace. More than 175 vendors will showcase art, jewelry, food, and handcrafted goods at Bryant Park from April 18 through June 1.

Click HERE for more details!

Kite Festival at Brooklyn Bridge Park

May 17th, 2025

Celebrate spring at the annual Kite Festival on Saturday, May 17th! Bring your own kite, purchase one, or craft your own on-site, and enjoy a day filled with hands-on activities, classic lawn games, and family-friendly fun. Free and open to all ages.

Click HERE for more details!

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As Reported by Yahoo! Finance

As Reported by Yahoo! Finance

Babe Ruth's $1.6 Million Upper West Side Apartment Is Back on the Market

201 East 21st Street, Unit 12M

201 East 21st Street, Unit 12M

Gramercy Park, Manhattan

Asking $649,000

Studio/1 Bed  |  1 Bath | Co-op

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Urban accessibility meets pin-drop quiet in this bright and airy home featuring gorgeous updates, excellent storage space, and an ideal location in a revered Gramercy cooperative.

Located on the 12th floor, this spacious home enjoys taller-than-average 9-foot-high ceilings, northern and eastern exposures, and an extremely quiet position at the rear of the building. A gracious foyer welcomes you inside to discover brand-new white oak floors and a roomy coat closet. The beautifully renovated and expanded open kitchen impresses with custom cabinetry, honed black granite counters, stainless steel appliances, and a dining counter that’s perfect for casual dining. Ahead, the main living space flows to a wall of gorgeous built-ins with a TV niche, cabinets and shelving. From the sleeping area, two huge closets, including a walk-in, lead to a renovated full bathroom. Currently configured as an open alcove studio, this generous layout easily converts to a true one-bedroom layout, as many other M-line residents have done.

Welcome to Quaker Ridge, a classic white brick postwar co-op known for its excellent financials, low monthly maintenance and prime location just steps from Gramercy Park. Residents enjoy full-time doorman service, a live-in superintendent, laundry, bike storage and a residents-only parking garage with direct access to the building. Quaker Ridge allows co-purchasing and pets but does not permit guarantors or pieds-à-terre. Please note, there is a monthly energy charge of $84.74 included in the maintenance which adjusts quarterly.

Located minutes from Union Square, the Flatiron District and NoMad, this home is at the epicenter of exciting Manhattan living with abundant shops, restaurants, services and outdoor space at every turn. Union Square and Madison Square Park put a dog park, greenmarkets and year-round events mere blocks away, and foodies will love the proximity to Whole Foods, Trader Joe's, Eataly and numerous Michelin-starred restaurants. Access to transportation is fantastic with 4/5/6, N/Q/R/W and L trains, excellent bus service and CitiBikes nearby.