{03.2025} Will The Tariff Wars Derail the NYC Real Estate Market
The recent tariffs sent the stock market into a tailspin over the last two days. But just before that, NYC real estate was quietly holding its ground—and even pushing forward. First-quarter transaction volume in 2025 was up 5–10% compared to the same period last year, even as prices remained flat.
For buyers, the market stayed relatively welcoming—few bidding wars, room to negotiate, and sellers open to conversation. For sellers, though, things remained a bit sluggish. Showings picked up, but offers were slow to follow. This was not the moment for aspirational pricing.
New developments saw a noticeable improvement from last year. Sponsors with remaining inventory finally started to see movement. Those last few units? They’re going.
Now the big question: Will the tariffs erode confidence enough to cut short this positive momentum?
Most of our deals in Q1 came from longtime clients trading up. These seasoned buyers have been propping up the market, while many first-timers are still on the sidelines—held back by shrinking down payments, rising costs, and growing recession concerns. Ironically, as recession fears creep in, so does the prospect of a rate cut. There’s a lot of pent-up demand from first-time buyers, but every glimmer of hope seems to get delayed by another round of bad news.
On a Personal Note
April is when we all fall in love with New York all over again. Flowers are blooming across the city’s parks and sidewalks. Our girls’ soccer league (huge shoutout to GWYSL!) just kicked off its season this weekend. We’re also getting ready to Run for the Wild at the Bronx Zoo and tackle the Five Boro Bike Tour in a few weeks!
New Construction Highlight
This week we’re spotlighting a fresh project in Brooklyn’s beloved Park Slope. The Slope on 5th Ave just hit the market—offering something rare for the neighborhood: a full-service condo building. With just 30 units across six floors, it fills a real gap in local inventory. We’re proud to share that our team brought in the first contract to the building!
The recent tariffs sent the stock market into a tailspin over the last two days. But just before that, NYC real estate was quietly holding its ground—and even pushing forward.