Market Insights | Q3 2025 | New York City

Market Overview

‍Momentum in New York City’s multifamily market accelerated in Q3 2025 as sales volume climbed to 2.55 billion dollars, the strongest pace since 2022. Free-market assets led the rebound, accounting for more than 80 percent of total volume among buildings with more than 10 units. Manhattan remained the core driver with 1.26 billion dollars in activity, supported by firm rent growth, tight vacancy, and multiple large institutional trades that point to renewed confidence. In contrast, the rent-stabilized sector continued to face pricing pressure. Nearly half of all transactions involved majority rent-stabilized buildings, but they made up only 14 percent of total dollar volume, showing a market still adjusting to valuation resets and limited capital.

‍About GREA

‍GREA is a multifamily investment research and advisory firm that provides market analysis, sales insights, and capital trends across major U.S. metros. Their Q3 2025 report offers deeper data and context to guide owners and investors. To read the full report, click here.