Some Art and Science
Despite the recent bitter cold and piles of formerly white snow now rotting on the sidewalks, spring is around the corner in the city, or at least a lot of New Yorkers hope it is. We are working with many sellers who are preparing to bring their properties to market in the coming few months or putting their toe in the water to see whether now is the right time for them. With the advent of spring, new buyers also make their way into the market; and we predict more this spring as interest rates decline, with the 30-year fixed mortgage dipping below 6% this past week for the first time three years.
There’s a lot to consider for property pricing in a sale or purchase. Often, and particularly in New York City, square footage and the price per square foot are considerations. Buyers, sellers and real estate brokers alike will use square footage of prior sales to justify pricing on a subject property. It’s a basis for analysis and consideration…but it’s just a basis for analysis and consideration.
In the city, we rarely see property owners attempt to sell their properties on their own. Nationally, for sale by owner (FSBO) properties have a 7-11% success rate, depending on the source you consult. Regardless of the source, the success rate is grim, and the overwhelming amount of these failures note the complications of managing the process and pricing as their key pitfalls.
A thoughtful analysis of property pricing, especially with an experienced and knowledgeable advisor in a particular market, will take significantly more factors into account. For a successful real estate advisor, there’s a gentle and direct conversation that occurs when a seller has an outsized perspective of value or a buyer has an undervalued perspective on a purchase price.
Whether buying or selling, there are a lot of factors in how the sausage gets made – from the obvious size and location of a property, to views, exposures, layout, condition and the luxury of private outdoor space. There’s also the quality and maintenance of the building and whether it is a condo, coop or townhouse. There are the monthlies to consider, and also the nuances of staff, amenities and in some cases, caché of the building. There are also inclusions to consider, like parking and storage. A good, experienced advisor can consult on these and many other factors. They will also address important insights and the current psychology of the buyers and sellers in a particular market.
Pricing a property is not just what’s on paper from past sales. Property pricing must factor in the full picture and awareness of where the market is now and is likely going. As we enter our spring market, getting pricing right will move properties for sellers and their buyers.
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The Numbers
Manhattan Market Activity
Highlighting our market's past 30 days.
Brooklyn Market Activity
Highlighting our market's past 30 days.
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The Properties
Our month's featured listings on the market.
Carroll Gardens / Brooklyn
Co-op
1 Bed / 1 Bath
$695,000
Lefferts Gardens / Brooklyn
Condo
3 Beds / 2 Baths
$775,000
Kips Bay / Manhattan
Co-op
Studio / 1 Bath
$549,500
Lenox Hill / Manhattan
Co-op
1 Bed / 1 Bath
$665,000
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The Pick
From the cool and eccentric to reserved and irreverent - Our month’s pick of what's happening in New York City.
New Museum
Manhattan's only dedicated contemporary art museum is reopening with a new 60,000 square foot expansion.
Free admission opening weekend:
March 21-22, 2026
235 Bowery, NYC
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