New York Jan. Market Update

Written By Eli Cavaleri

The New York real estate market’s energy is officially back in 2024! As we welcome a new month let’s look back at NYC’s impressive new development activity in January.

  • Citywide deal volume experienced a 30% uptick from December, marking the first month since August 2023 to surpass 200 contracts.
 

  • Total dollar volume rose by 87% month over month, bolstered by a $149M contract at Central Park Tower. 
 

  • 15% more luxury deals were signed compared to December, representing more than half of the total dollar volume.

  • Compared to January 2023, the first month of 2024 marked a 5% rise in deal volume and a 46% surge in dollar volume.

If you have any questions about the NYC market, contact me here.

Statistics courtesy of MarketProof.

Eli Cavaleri
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