My Inside Scoop on the NYC New Dev Market
The new development market in NYC had a strong start to 2025, especially in the luxury space. I’ve seen a real uptick in demand—sales over $5M jumped nearly 50% compared to last year, and deals above $20M are the highest they’ve been since 2019.
In January alone, eight new developments launched, bringing over 140 units to market. The average sale price is now over $3.4M, and buyers are moving quickly on well-designed, well-located product—especially with inventory tightening. Prices overall in Manhattan are up 12% year-over-year, with the median now at $1.175M. A lot of this momentum stems from strong Q4 activity in 2024, but the energy has definitely carried into this year. It feels like confidence is back.
As many of you already know, my favorite NYC new development is Westview. Westview is a waterfront new development with floor plans ranging from studios to three bedrooms. The residences, priced from $570,000 to over $2 million, offer private outdoor spaces and layouts between 720 and 1,850 square feet.
Roosevelt Island offers a rare blend of convenience, history, and modern amenities, making it a hidden gem in New York City real estate. With easy access via subway, tram, ferry, and car, this island is just moments from Manhattan and provides a unique and appealing living experience for renters and buyers alike.
The island has undergone significant redevelopment in recent years, transforming it into a vibrant residential community. Landmarks such as the Cornell Tech campus, the Graduate New York hotel, and Franklin D. Roosevelt Four Freedoms Park add to its charm and modern appeal. Residence 830, a three-bedroom, two-bathroom home in Westview, provides the best of Roosevelt Island living. This unit features an open kitchen with Quartzite countertops, marble backsplash, Viking appliances, and a breakfast bar. Additional features include an in-unit washer and dryer, marble and porcelain bathrooms, oak hardwood flooring, generous built-in closets, and oversized insulated windows.
If you’re looking for a new home in New York City, Roosevelt Island should be on your radar. Learn more about Westview here!