NYC New Development
September Market Snapshot
Updated · Data through August 31
Market Summary
Just five Manhattan deals made
up 28% of August deal volume.
August’s contract count fell 16% from July to 148, yet dollar volume declined just 2% to $385M. PPSF rose 4% to $1,818, and the average contract price increased 18% to $2.60M. Those increases came from the contracts that were signed, especially Manhattan’s largest deals, rather than stronger activity across the market.
The 5 largest contracts were all in Manhattan and totaled $108.92M. They represented 28% of citywide dollar volume and 43% of Manhattan’s total. Without those 5 sales, the average price would fall to ~$1.93M. August’s pricing strength was concentrated at the top.
In Brooklyn, 58 contracts were signed, 32% fewer than last August. The borough currently has 491 sponsor units for sale and another 2,142 in the pipeline.
In Queens, 34 contracts were signed, 26% more than last August. The borough has 488 sponsor units for sale and another 2,452 in the pipeline. The increase from last year is meaningful, but one month does not show whether demand can keep pace with current supply and the units still in the pipeline.
Citywide contract count was also 21% below August 2025, more than the usual summer slowdown. Will fall demand reach more projects before pipeline projects begin sales?
Monthly Sponsor Sales
Borough Market Heat
Each cell is shaded by its month-over-month change. Tap or hover a cell for the exact figures.
Sponsor Supply
How many months it would take to clear every sponsor unit in each borough, at its three-year sales pace.
Largest Contracts
| Building | Neighborhood | Beds | Price | $/SF |
|---|---|---|---|---|
| 1122 Madison Avenue · #19 | Upper East Side | 5 | $40,500,000 | $7,713 |
| The Flatiron Building · N17 | Flatiron | 4 | $23,950,000 | $5,176 |
| Central Park Tower · 68E | Midtown | 3 | $20,500,000 | $6,094 |
| One High Line · East 22B | West Chelsea | 4 | $12,220,000 | $3,623 |
| 181 Macdougal Street · PH | Greenwich Village | 2 | $11,750,000 | $5,084 |
The five largest new development contracts reported for August 2026. All five were Manhattan sponsor sales.
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Figures as reported by The Horizon Team. New York City new development, 2026, month over month. Compiled from sources deemed reliable and subject to errors, omissions, and change without notice. A point-in-time snapshot, updated monthly.