The Pinpointe Post

July 2025 Edition

Author

Rachel Fiegler
July 15, 2025

Message from Josh & Rachel

Hello from the Pinpointe team!

Welcome to our July update! Spoiler: NYC rents set yet another record in June. StreetEasy may say the FARE Act had “no measurable effect,” but our on-the-ground data—and that of most brokers—shows fewer advertised listings and more above-ask leases driving those highs.

Inside you’ll find the full Market Pulse, a Murray Hill neighborhood spotlight, a first-time-buyer tip on rate buy-downs, the latest FARE-Act fallout on the podcast, plus news bites on rent-stabilized hikes and summer bidding wars. Dive in and stay ahead of the market.

Happy reading!

Rachel & Josh

Cofounders, Pinpointe Group

Recent Highlights

📝 From our blog

First-Time Homebuyer NYC Guide: Tips, What to Know and Avoid

Buying your first home in NYC? This no-BS guide covers co-ops, condos, commissions & how to build the right team.

pinpointe.nyc/first-time-homebuyer-nyc-guide

🎙️ Podcast Feature

In this episode of Pinpointe Unfiltered, Rachel and Josh break down the fallout of the FARE Act 1 week after it went into effect. They go into why over 1,000 listings vanished overnight, how the average rent jumped nearly $500, and what this all means for brokers and renters. They’ll also explain what’s actually changing in how brokers work and what renters need to watch out for.

📱 Social Media Hit

Our top-viewed Instagram reel is our quick rundown of NYC’s latest record rents—Manhattan edging past $4,700. Tap to watch the numbers climb before we unpack the details below.

🌟 Agent Spotlight

We’re back with Agent Spotlight, and this month the focus is on Pinpointe’s behind-the-scenes engine—Rachel Fiegler.

Half of the founding duo (along with Josh), Rachel keeps Pinpointe running—overseeing ops, steering Pinpointe’s social channels, and driving our residential sales. Rachel will be the first to say she can’t do any of it without Josh—but if you need straight talk on renting, buying, or selling, email [email protected] and get the ball rolling.

🏙️ Neighborhood Highlight: Murray Hill, Manhattan

This month, we’re zooming in on Murray Hill—a Midtown enclave where rents kept climbing in June. The latest data shows broad gains, yet non-doorman one-bedrooms actually slipped 0.5 % month-over-month, offering a rare pocket of value amid rising prices.

What we love: Walk to work in Midtown, picnic in Bryant Park, then grab late-night dosas along “Curry Hill” on Lexington—Murray Hill blends old-school rowhouses with modern towers and a laid-back bar scene that’s lively but not overwhelming.

Average 1-bedroom rent: $5,381 in doorman buildings (non-doorman units averaged $3,628).

Hidden gem: Grab a pint at Bravest on 2nd Avenue—the firefighter-themed neighborhood bar decked with FDNY memorabilia and laid-back vibes that feel miles from Midtown’s bustle.

💡 First-Time Buyer Tip

Staring at today’s mortgage rates and feeling priced out? One option can lower your monthly payment on day one: an interest-rate buy-down.

What’s a buy-down?
You (or even the seller) pay a one-time fee at closing to knock your mortgage rate down, trimming your monthly payment.

Why consider it?

  • More affordable today: Smaller payments right out of the gate—helpful in a high-rate market.

  • Big-picture savings: The upfront cost can pay for itself over the life of the loan.

  • Negotiating power: Sellers sometimes chip in as a concession, sweetening the deal.

Quick math:

  • Use $5,000 to buy down the rate → payment drops ≈ $100/month.

  • Put that same $5,000 toward your down payment → payment drops only ≈ $30/month.

Curious how a buy-down could stretch your budget? Email Allie Abbatiello at [email protected]—our trusted lender partner at Quintessential Mortgage can run the numbers in minutes.

📊 Market Pulse: April 2025

💸 Rental Rundown:

  • Manhattan: Median rent climbed to $4,625, another new record, with one in four leases closing above ask.

  • Brooklyn: Rents edged up to $3,733 and the price-per-square-foot hit another record, while nearly a third of deals sparked bidding wars.

  • Queens: Median rent reached $3,600—the fastest year-over-year jump of the three boroughs—even as listings rose, offering renters more choice.

🧾 Sales Snapshot:

  • Manhattan: New co-op and condo contracts rose roughly 20 % year over year, led by a three-fold surge in the $4 M–$5 M segment.

  • Brooklyn: Condo contracts climbed 27 %, co-ops held firm (with strength in the $1 M–$2 M band), and townhouse demand remained steady.

🔍 Q2 at a Glance:
Closings nudged higher city-wide while prices hit fresh records: Manhattan’s median reached $1.2 M, Brooklyn touched $995K, and Queens set a new high at $714K—evidence that momentum remains, but buyers now have a bit more inventory to choose from.

On rentals, Q2 closed with June posting the highest monthly medians on record in Manhattan, Brooklyn, and Queens—evidence that price pressure is still building as we head into peak season.

🔑 What It Means for You

  • Buyers: Well-priced listings still move fast, yet swelling inventory in Brooklyn and Manhattan gives you more negotiating power. Queens remains the value play but is tightening quickly.

  • Renters: Budget for 5–8 % renewal bumps. Rising listings can help you net concessions, but expect competition—especially for two-bedrooms in prime neighborhoods.

📰 News You Can Use

Record-high rents and bidding wars leave NYC house hunters scrambling for shelter this summer

Record-high June rents ($4,625 median for a Manhattan one-bed) and shrinking inventory have sparked summer bidding wars, with a quarter of renters paying above ask and some touring dozens of units just to land a lease. High mortgage rates and the FARE Act’s listing shake-up are driving demand even higher. Read more here.

Rent board approves increases of 3 to 4.5 percent for rent-stabilized units

NYC’s Rent Guidelines Board voted 5-4 to allow increases of up to 3% on one-year and 4.5% on two-year leases for nearly a million rent-stabilized apartments, effective October 1, 2025. Tenant groups slammed the hikes as unaffordable while landlords argued they’re needed to cover rising operating costs. Read more here.

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