In an interview with NTD at the 2025 NYC Real Estate Expo, Bernadette Brennan, executive director at SERHANT. Commercial, discussed the New York City real estate market. She highlighted that despite interest rates impacting affordability and mayoral elections causing uncertainty, the market remains active.
International buyers, especially cash buyers, continue to invest, particularly in properties valued at $4 million and above. Brennan noted a resurgence in office leasing and the potential for converting commercial spaces to residential, which could alleviate the housing crisis. She remains optimistic about the market's future.