Albert Dweck of Duke Properties on Why Stability and Smart Growth Are Redefining New York Real Estate
A Stronger, Smarter Market Emerging
According to Albert Dweck of Duke Properties, New York City’s housing market is entering a new era of strength—one that balances optimism with realism. After years of volatility and record-breaking highs, the city is now settling into a healthier rhythm where opportunity exists for both buyers and sellers.
“The pace of activity across the five boroughs shows that confidence is returning,” says Dweck. “We’re seeing a recalibration—an alignment between value, affordability, and long-term growth.”
Data from recent market analyses support that view. In 2025, Manhattan’s sales volume has picked up as mortgage rates continue to cool, and more homes are appearing on the market. At the same time, sellers are becoming more flexible, offering realistic pricing that invites fresh interest from new buyers. It’s not a boom, but rather a solid, sustainable recovery—and that’s precisely what long-term investors like Duke Properties value most.
NYC Housing Market: Affordability Reimagined in Manhattan
For years, Manhattan was seen as unattainable for many aspiring homeowners. That perception is beginning to change. The median asking price has dipped by just over 5% compared to last year, while mortgage rates have eased, cutting typical monthly payments by more than 7%.
“This moment is creating real openings for first-time buyers and long-term residents who once felt priced out,” Dweck explains. “When affordability improves, community stability improves—and that’s the true foundation of a sustainable market.”
In neighborhoods such as Midtown and Downtown, contracts are rising sharply, reflecting renewed buyer enthusiasm. For Duke Properties, this kind of balanced growth underscores what’s best about New York: resilience, adaptability, and the constant drive to reinvent itself.
Brooklyn and Queens: Local Strength, Lasting Value
Beyond Manhattan, the outer boroughs are thriving in their own right. Brooklyn remains one of the most desirable places to live, with homes selling close to their asking price—an indicator of both demand and consumer confidence. The median asking price now sits around $1.1 million, up more than 7% from last year, confirming the borough’s lasting appeal.
Queens, meanwhile, is experiencing what Albert Dweck calls a “quiet resurgence.” Co-op sales have nearly tripled compared to the previous year, particularly in neighborhoods like Jackson Heights. Prices have climbed modestly—about 7.5%—but remain within reach for middle-income buyers. “Queens represents the future of accessible homeownership in New York,” Dweck notes. “It’s a place where growth feels inclusive, not speculative.”
The Rental Market Remains Competitive—but Flexible
While the ownership market is stabilizing, the rental side of New York real estate remains intense. Inventory has dropped nearly 9% year-over-year, and Manhattan’s median rent has risen to $4,722. Yet even in this tight environment, there are glimmers of relief.
“Some neighborhoods are finally seeing rents soften as more affordable units enter the mix,” says Dweck. Areas like DUMBO and Battery Park City have recorded modest declines in asking rents—a sign that landlords are listening to tenants and adjusting to economic realities.
For Duke Properties, which has long prioritized tenant satisfaction and responsible management, this shift toward a more balanced rental landscape aligns perfectly with their mission. “Our approach has always been people-first,” Dweck adds. “When we create quality living spaces and maintain transparency, everyone benefits—from renters to communities as a whole.”
Looking Ahead: A Sustainable Future for NYC Real Estate
Albert Dweck sees this as a defining opportunity: “New York isn’t chasing extremes anymore. It’s building stability—and that’s where the real long-term value lies. Whether you’re an investor, a tenant, or a homeowner, the coming years will reward patience, strategy, and community-minded growth.”
Duke Properties’ Vision for What Comes Next
For Duke Properties, the focus remains on thoughtful development, adaptive reuse, and supporting housing initiatives that build stronger, more inclusive neighborhoods. Dweck emphasizes that the firm’s commitment extends beyond profit margins. “Real estate isn’t just about buildings—it’s about people. Our goal is to invest in properties that create genuine community impact, from affordability to livability.”
In a city as complex and competitive as New York, such an approach stands out. As the market finds its equilibrium, Duke Properties continues to represent a model of steady leadership and forward thinking.
Conclusion: The City That Never Settles—Only Evolves
The 2025–2026 New York housing landscape may not mirror the wild surges of past years, but that’s exactly why optimism is justified. The market is maturing, confidence is rising, and affordability—once thought impossible—is gradually returning.
As Albert Dweck aptly puts it, “New York is evolving, not retreating. The next chapter of this city’s housing story is about balance, opportunity, and resilience—and we’re proud to help write it.”