New York City has once again proven its unmatched resilience. Despite global economic uncertainties and shifting national trends, the city’s housing market continues to set records — with Brooklyn leading the charge.
According to a recent PropertyShark study, the city’s median home sale price reached a record $800,000 in the third quarter of 2025 — a 4% jump year-over-year. While Manhattan held steady with a $1.15 million median, Brooklyn’s impressive 11% rise to $916,000 marked a defining moment in NYC’s post-pandemic real estate story.
For Albert Dweck of Duke Properties, these figures are more than just market data — they’re a reflection of renewed optimism and sustained investment in New York’s neighborhoods. “What we’re seeing isn’t just price growth,” Dweck explains. “It’s confidence. Buyers are recognizing that New York remains one of the most dynamic and desirable cities in the world.”
Brooklyn’s Historic Surge Reflects Renewed Confidence Across the City
Brooklyn’s rise to prominence has been years in the making. Once considered the affordable alternative to Manhattan, the borough has matured into a destination of its own — a vibrant mix of historic charm, creative energy, and world-class amenities.
Today, Brooklyn dominates the city’s luxury market, claiming 26 of the top 50 most expensive neighborhoods, compared to Manhattan’s 19. From the cobblestone streets of DUMBO and the leafy avenues of Fort Greene to the modern developments in Boerum Hill and Cobble Hill, the borough has evolved into a centerpiece of New York’s urban renaissance.
For Dweck, this shift represents the natural progression of a city that never stops evolving. “Brooklyn’s growth shows how New York reinvents itself,” he says. “It’s a living ecosystem — each borough has its own rhythm and strength. When one area shines, it lifts the whole city.”
Housing Momentum: Demand Outpaces Supply as Buyers Bet on Long-Term Resilience
Across all boroughs, demand for quality housing remains strong, even in the face of higher mortgage rates. Manhattan saw a 15% increase in sales activity year-over-year, while Queens quietly posted its own record — a $600,000 median sale price, up 4% from 2024.
These trends highlight an important truth: New York’s appeal endures. Buyers, investors, and residents continue to bet on the city’s long-term vitality, confident that property here remains a cornerstone of value and stability.
“People are investing in New York because they believe in its future,” says Dweck. “Rising prices aren’t just about scarcity — they’re about sustained demand. When people choose to live, work, and build here, it tells us that the city is thriving.”
This momentum also extends beyond luxury markets. As median prices climb, demand for well-managed rental housing grows even stronger — a space where Duke Properties continues to excel. With a focus on community-driven multifamily developments, the company remains deeply attuned to the evolving needs of New Yorkers across income levels.
Duke Properties Sees Market Growth as a Sign of Continued Urban Vitality
Albert Dweck believes that record-breaking prices, while headline-worthy, tell a deeper story about urban strength and renewal. The continued willingness of buyers to enter the market — even amid higher costs — underscores faith in the city’s unmatched opportunities and cultural depth.
“At Duke Properties, we view every market cycle as a signal,” Dweck explains. “When prices rise, it shows that people see value in being part of New York’s story. That’s why we continue to invest, renovate, and expand responsibly — because this city’s heartbeat never stops.”
The company’s focus on long-term stability and value creation aligns with what Dweck calls the “new urban mindset.” It’s less about short-term speculation and more about building communities that endure through economic shifts. “Real estate in New York isn’t about chasing the next peak,” he says. “It’s about understanding that every building, every neighborhood, every tenant contributes to the fabric of the city.”
The Next Chapter for NYC Real Estate
While Brooklyn may have “torched Manhattan” in this latest study, Dweck sees the competition as symbolic of New York’s overall strength. “The beauty of this city is that every borough contributes something different,” he notes. “When Brooklyn thrives, it doesn’t diminish Manhattan — it reinforces the city’s collective power.”
As the city’s skyline continues to evolve and its neighborhoods flourish, Duke Properties remains focused on one guiding principle: growth with purpose.
“New York doesn’t stand still,” Dweck concludes. “The market changes, the people change — but the energy, the opportunity, and the sense of belonging remain the same. These record prices are not just numbers — they’re proof that New York’s story of resilience and reinvention continues.”