Housing Landscape: Riding the Wave of Resilient Demand
At Duke Properties, we understand that resilience is the hallmark of New York City real estate. With new contract signings on the rise for the ninth consecutive month and buyer confidence bouncing back, we view this summer not as a challenge—but as an opportunity.
While national home sales have slowed, NYC is bucking the trend with growing buyer activity and stable prices, proving once again why it remains a cornerstone of long-term real estate investment.
Brooklyn & Queens: The Heart of Future Opportunities
As Manhattan prices push new records, Brooklyn and Queens have emerged as prime locations for growth. With asking prices rising 3.9% and 10.6% respectively, and inventory expanding at double-digit rates, these boroughs are attracting both first-time buyers and seasoned investors.
Duke Properties continues to prioritize strategic investments in underleveraged neighborhoods, particularly those with infrastructure improvements and strong rental demand—aligning with the upward trends seen in Gowanus, Long Island City, and Forest Hills.
Smart Strategy in a Competitive Rental Market
Manhattan’s rental market remains fierce—with 25% of leases involving bidding wars—but our approach focuses on creating equitable, accessible housing through smart renovation and lease structuring. The FARE Act has shifted the playing field, and we’ve responded proactively by adapting our broker practices and enhancing transparency for renters.
Our properties remain highly desirable, with occupancy rates consistently strong, particularly in neighborhoods like Morningside Heights and Bay Ridge, where rising inventory is meeting real demand.
A Stable Vision Amid Slight Cooling Forecasts
While forecasts suggest a modest dip in home values across NYC over the next year (-1.2%), we see this as part of a healthy market correction—not a downturn. With mortgage rates stabilizing and supply expanding, Duke Properties is focused on long-term, stable growth rather than chasing short-term peaks.
This is the time when well-positioned, well-managed portfolios like ours stand out.
What It Means for Tenants, Partners, and Investors
At Duke Properties, we’re not just watching the market—we’re shaping it. By staying agile yet disciplined, we ensure that our properties remain desirable for tenants, viable for buyers, and profitable for investors.
Whether it’s navigating the dynamic rental environment or seizing opportunities in emerging boroughs, our approach is rooted in clarity, consistency, and community.
Albert Dweck
Founder & CEO
Duke Properties