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Luxury Home Sales Surge 31% Despite Tax Fears

12/13/2025

39 4 Full Breakdown

Left

Mamdani's Impact Reassessed

Luxury home sales rose 31% in November, contradicting predictions of an exodus after Zohran Mamdani's victory.
Real estate brokers, including Donna Olshan, dismissed fears of a Mamdani-driven exodus.
Despite plans to raise taxes on the wealthy, many still value culture.
The City Council backs a co-op transparency bill, with a 2023 poll showing 68% support.
Adrienne Adams, Speaker of the New York City Council, can lead this change.

Right

Rent Surge Explained

Manhattan average rent reached a record high in November at $5,686, up 13% from the previous year.
The median rent rose to $4,750.
The surge is attributed to the Fairness in Apartment Rental Expenses Act, which shifted broker fees from tenants to landlords.
High mortgage rates have kept buyers in the rental market.
Competition remains fierce in West Village and Tribeca as renters seek flexibility amid economic uncertainty.

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Mamdani's Impact Reassessed

Luxury home sales rose 31% in November, contradicting predictions of an exodus after Zohran Mamdani's victory.
Real estate brokers, including Donna Olshan, dismissed fears of a Mamdani-driven exodus.
Despite plans to raise taxes on the wealthy, many still value culture.
The City Council backs a co-op transparency bill, with a 2023 poll showing 68% support.
Adrienne Adams, Speaker of the New York City Council, can lead this change.

1 / 2