top of page
Search

Manhattan’s luxury residential market gained momentum in Q3 2025. Here’s the pulse plus three towers that are defining the city’s next wave of high-end living.


Q3 2025 Market Pulse

  • Sales Volume: ~3,100 co-op and condo deals (+13% YoY).

  • Active Listings: +7% vs. prior year.

  • Median Price: Up ~6% YoY, just under $1.2M.

  • Buyer Profile: Cash buyers accounted for ~65% of transactions.


Flatiron Building with 60 Condos (175 Fifth Avenue)

Brodsky Organization, GFP Real Estate, and Sorgente Group are converting 204,593 SF of office space into 38 condominiums. Completion is targeted for 2026.

  • Pricing: Initial tranche $11M to $50M.

  • Indicative Sellout: ~$375M for 18 of its 35 units


Flatiron’s conversion represents one of the few Manhattan trophy projects combining historic architecture with modern luxury.


800 Fifth Avenue: Naftali Redevelopment

Naftali Group acquired the 33-story, 208-unit rental at 800 Fifth Avenue for $810M, with $675M in financing from JPMorgan and GoldenTree.


  • Current Use: Luxury rental tower.

  • Future: Redevelopment into a signature condominium project across from Central Park.


This site represents a generational Fifth Avenue opportunity.The Flatiron Building Goes Residential.


a lobby of a building in new york
175 Fifth Avenue

80 Clarkson Street: West Village Waterfront Residences

Zeckendorf Development, Atlas Capital, and Baupost are delivering two COOKFOX + SLCE towers at the West Village/Hudson Square edge.


  • Units: ~113 ultra-luxury condos.

  • Pricing: 2BRs from ~$6.75M; 5BRs up to $80M ($11,235psf).

  • Amenities: Wine cellars (~$1M), parking (~$750k).

  • Financing: $985M package arranged by Newmark.


A rare Hudson waterfront offering, signaling a new benchmark for ultra-luxury Manhattan living.


Market Takeaway

Manhattan’s luxury market continues to show resilience amid a shifting development landscape. While important projects like Flatiron, 80 Clarkson, and 800 Fifth move forward, the broader pace of new construction has slowed, with building permits for residential units declining compared with prior years due to difficulties with financing. Sales remain strong, with cash buyers driving roughly two-thirds of transactions, and median prices inching upward to just under $1.2M.


Whether you’re evaluating a purchase, sale, or investment, I can help you navigate these shifts and identify opportunities in a market where timing, insight, and access to high-quality product are critical.


Best,

Corey Cohen


Founder

The Roebling Group

646.939.7375

@mrcoreycohen

Comments

bottom of page