DET OCTOBER 2025 NEWSLETTER

Doug Eichman Team

October Newsletter

In October, autumn comes into full swing. The month also begins the final quarter of the year. After a solid third quarter, the Manhattan market is poised for a very active end of 2025. During September, the stock market continued to record highs as mortgage rates dropped to an 11-month low. With quality inventory remaining remain tight, the expectation of Wall Street bonuses exceeding the record $47.5 billion of 2024, and the anticipation of 2 more short-term rate cuts, I keep my fingers crossed the third quarter momentum will continue. Not sure anyone knows how New York’s mayoral contest will affect the city’s real estate business. Even as the warmth of September temperatures continue, let’s get in the fall mood. To me, orange is the color of October… the fiery hues of changing fall leaves, Halloween and pumpkins. Starbucks actually launched pumpkin spice lattes back on August 26. With “I can’t wait” anticipation, the iconic restaurant Babbo is now scheduled to reopen on Monday, October 12. This "multifaceted revival", led by restaurateur Stephen Starr and former Del Posto chef Mark Ladner, will be located at its original 110 Waverly Place address in Greenwich Village. The menu includes refreshed versions of classic Babbo dishes, such as the 100-layer lasagna, beef-cheek ravioli, and panna cotta. FYI, the 212.777.0303 phone number did not allow me to make a reservation. The beloved New York Cabaret Convention returns to Lincoln Center’s Rose Theater on October 21. On opening night, enjoy Karen Akers, Ann Hampton Callaway, Craig Rubano and others in “The Best Is Yet To Come”- A Celebration of Cy Coleman. And as we enter the final quarter of 2025, the Doug Eichman Team believes “The best is yet to come” with Manhattan real estate. A.A. Milne wrote in 1920, “The end of the summer is not the end of the world. Here’s to October.”

Doug

Real Estate In The News!

Rear View Mirror, September Market at a Glance!

3Q25!

Helped by a booming stock market and lower mortgage rates, the Manhattan apartment market posted a 7% increase in the # of transactions compared to a year ago. Stocks continued to reach record highs throughout the quarter, while mortgage rates began falling in June and reached an 11-month low in mid-September. Resale apartments average and median prices were virtually unchanged from the previous quarter, but up from 2024’s third quarter. See full report HERE!

And the Winner is...!

23 contracts were signed last week in Manhattan at $4M and above, 2 more than the previous week. Condos outsold co-ops 19-3 with 1 townhouse sold. Big surprise, the #1 contract signed was Unit 38 at 111 East 57th Street, asking $19,750,000, down from $22,750,000 when it was first marketed in 2016. The condo has 4,492 square feet with 3 bedrooms, 3.5 baths and a 36’ by 21’ great room. This marks the 11th time this year that this building has locked up the #1 or #2 contract. See it HERE!

Happening in October!

Fantastic Faena Fantasy!

Faena has finally landed in New York—and true to form, the brand didn’t just open a hotel, it staged a spectacle. After he reshaped hospitality in Buenos Aires and Miami Beach, founder Alan Faena has brought his gilded, surreal and unapologetically theatrical vision to Manhattan’s west side. The new Faena New York, at 500 West 18th Street in One High Line, a Bjarke Ingels Group tower overlooking the High Line, is less hotel and more cultural fantasia.

Details and reservations HERE!

Food, Glorious Food!

Food lovers, rejoice! The Food Network NYC Wine & Food Festival is making its triumphant return this fall, taking place from October 15 to 19, and, this time around, the extravaganza will be held somewhere completely new: Manhattan’s historic Seaport neighborhood. Now in it's 18th year, revelers can expect multi-course dining experiences, pier parties, master classes, tastings and boozy brunches by acclaimed chefs and Food Network favorites. See the full list of events and purchase tickets HERE!

Where it Happened!

With milder temperatures, fall is the best time for long city walks. Extensive casual strolls are great, but why not make the most of your time outdoors? Embark on a 90-minute guided tour through Lower Manhattan's most historic sites, uncovering the rich colonial and Revolutionary history that shaped New York City. Dutch settlers to 18th century banking giants, the Big Onion Walking Tours will leave you in shape and informed about our great city! Tickets HERE!

Double Jeopardy! On October 25th, "Jeopardy!” host Ken Jennings will discuss trivia, language, and culture with The New Yorker senior editor Tyler Foggatt at Webster Hall the nightclub and concert venue located at 125 East 11th Street, between Third and Fourth avenues, in the East Village. It's a part of the 2-day New Yorker Festival with a full lineup for the 26th annual event! A limited number of General Admission, Early Entry, and Student & Educator tickets are available, as well as standing room. Details HERE!
	"Won't You Light My Candle? Before Rent, before Baz Lurhmann, there was Puccini and La Boheme. With its enchanting setting and spellbinding score, the world’s most popular opera is as timeless as it is heartbreaking. Franco Zeffirelli’s picture-perfect production brings 19th-century Paris to the Met stage as Puccini’s young friends and lovers navigate the joy and struggle of bohemian life. See it again and again (like me) or see it as your first opera and become a life-long enthusiast. Dates and tickets HERE!
52 Years of Dressing Up! There is no doubt that one of the best times to be had in NYC is the annual Village Halloween Parade. The theme for the 52nd year march is "It's a Potluck". In a time when we are so divided, organizers are using the parade as a way to bring people together and celebrate all that we have in common. "When we do it together and care for one another, there is enough for everyone!" So watch, march, dress up...whatever, but COME ON DOWN to the potluck! Info and tickets HERE!

Lifestyle Tips!

What's Going On Behind That Door?

Repainting your front door is one of the easiest ways to enhance your curb appeal and give your home a distinct personality that sets it apart from the neighbors. Spruce.com asked experts to give them their best predictions for front door colors that will be popular in 2026. Click for the results HERE!

Bon Appétit!!

One of my favorite dessert recipes is a take on the classic "Pear Belle Helene" by Julia Child. Like all of her recipes, it involves many steps - not difficult, just time consuming. It has been challenging, but with heavy internet searching, I found a version online that I can share. If you have her "Julia Child & More Company" cookbook, you're in luck. The only alteration to the recipe here is to put an Amaretto cookie under the pear before pouring the caramel sauce. Recipe HERE!