Relax. Breathe.
Every few years someone thinks they’ve found the magic bullet that’s finally going to take down New York City.
And every damn time we prove them wrong.
We’ve been through terror attacks, market collapses, floods, pandemics, tax changes, political chaos, crime waves, and interest-rate shocks…
and we’re still standing. Still breaking records. Still New York.
So before anyone panics about the new mayor or the latest “Mamdani meltdown,” let’s take a walk down memory lane —
and remember all the times they said “NYC is done.”
They were wrong then, and they’re wrong now.
2001 — September 11
Claim: “Downtown will never recover.”
Reality: Within a few years, Lower Manhattan became one of the city’s most desirable neighborhoods.
Property values south of Canal bounced back, luxury towers rose, and by 2011 Tribeca led NYC in price per square foot.
2008–2009 — Global Financial Crisis
Claim: “Manhattan prices will never recover.”
Reality: By 2014, we hit a new all-time high.
Sales volume surged — second-highest quarter in 25 years.
The money came back because quality always wins here.
2012 — Hurricane Sandy
Claim: “Coastal demand is dead.”
Reality: Prices dipped. Then bounced. Hard.
By 2014, impacted neighborhoods were selling higher than before.
New Yorkers studied the flood maps… and kept buying.
2017–2018 — SALT Cap
Claim: “Downstate property values will crash.”
Reality: Wrong.
In 2019, Manhattan set a record median at $1.215M despite it all.
Buyers adjusted, recalculated, and moved on. That’s what we do.
2019 — Mansion Tax & Higher Transfer Tax
Claim: “Luxury deals will dry up.”
Reality: There was a rush, a pause — and then a record.
The 2Q19 median set an all-time high.
You can’t tax swagger out of this market.
2020 — COVID Lockdowns
Claim: “The city is dead.”
Reality: 2021 had the strongest fourth quarter ever since records began in 1989.
Multiple “best weeks ever” for contracts over $4M.
The lights came back on — and so did the money.
2021–2022 — Return-to-Office Panic & Crime Headlines
Claim: “No one wants Manhattan anymore.”
Reality: 2022 opened with the strongest luxury start on record.
244 contracts signed over $4M in just two months.
Median price hit $1.25M — another record.
Luxury didn’t leave. It rebranded.
2022–2023 — Rapid Fed Rate Hikes
Claim: “Prices will collapse.”
Reality: We normalized. Then roared back.
By early 2025, luxury hit $10.3M average and $3,000/SF for the first time in five years.
You can’t raise rates on New York grit.
2023–2025 — “Office Doom Loop” & Political Volatility
Claim: “Housing values will slide.”
Reality: Record citywide median: $800K.
Manhattan median: $1.15M, up 15% year-over-year.
The city didn’t slow down — it sped past the noise.
2025 — November 4th “Mamdani effect”
Claim: “Mamdani will scare off all buyers
Reality: first two weeks after election we see more signed contracts and biddinf wars since any other two week period since 2018.
Buyers fears of Mamdani were fake and now buyers are rallied since the distraction is over, interest rates dropping and rental prices overvalued against sales values.
💥 STACKING THE LAST 25 YEARS UP.💥
- 9/11
- The Great Recession
- Hurricane Sandy
- SALT Cap
- Mansion Tax
- COVID Lockdowns
- Crime Waves
- Rate Hikes
- Office Doom Loops
- Mamdani
Every single time they said “it’s over.”
Every single time, we came back stronger, faster, pricier.
New York bends but it never breaks.
We rebuild, reprice, reset, and then set a new record.
So About this New Mayor...
Good luck to him.
He has no idea what he’s in for.
This city runs on grit, culture, capital, 11 p.m. dinners, and a skyline the entire world wants to own a piece of.
No policy changes that. No politician stops that.
