New York, NY Multifamily Market Report Q3 2025

Market Overview

‍A recalibration is underway in the New York City multifamily market in Q3 2025. While top-tier rent growth remains positive, supply-side pressures are becoming more visible and absorption is gradually decelerating. Vacancy remains comparatively low, but elevated condominium conversions and new-build deliveries are tempering landlord leverage and gradually shifting momentum toward renters.

‍About Matthews

‍Matthews Real Estate Investment Services is a national advisory and research firm specialising in multifamily investment sales, debt and structured finance. Their Q3 2025 New York market report blends detailed metrics on rent trends, occupancy, delivery pipelines and investment-market activity to help owners, developers and investors assess timing, risk and strategic positioning. To read the full report, click here.