325 Fifth
Avenue
Sellers waited. Renters didn't.
Sellers waited.
Renters didn't.
No sale closed at 325 Fifth this quarter — the first quarter without a closing in more than a year — while five apartments stayed listed and none went to contract. Six leases signed, one more than in the spring, at a $9,250 median; two-bedrooms held $9,000 to $9,500 for a second straight quarter. Across the neighborhood, the median jumped 17% to $2,275,000 because the entry end went quiet, and price per foot rose 9%.
By unit type, to sell and to rent
What each type actually cleared for in the building this quarter — closed sales and signed leases, not asking prices. Read the line that is yours.
One Bedroom
Two Bedroom
Three Bedroom
Ranges are the closed sales and signed leases at 325 Fifth, July 1 – September 30 2026, by unit type. Rents are last asking rents. Days are days on market. Each figure is one of the transactions listed in the detail tables below.
Five listings,
no closings
Nothing closed at 325 Fifth between July and September. The last recorded sale is still #23E, a one-bedroom at $1,065,000 in June — and nothing has gone to contract since.
What's on the market tells you why. Two one-bedrooms have been listed since March and May and have already cut: #8E from $969,000 to $950,000, #24F from $1,150,000 to $1,050,000. Three two-bedrooms ask $2,250,000 to $2,500,000 — #41D since June, #23A and #41B new in mid-September — which works out to $1,730 to $1,915 a foot in a building whose spring closings ran $1,300 to $1,645.
The neighborhood didn't stand still. Thirty-seven sales closed across Midtown South and NoMad, at a median up 17% to $2,275,000 and an average $1,789 a foot, up 9%; days on market fell to 89 from 123. Buyers showed up this quarter — for larger apartments, at prices that were not far from these asks.
So read it plainly. The one-bedrooms are priced near the last closing and still waiting, which says the entry end is slow here as it was across the neighborhood. The two-bedrooms are testing a number the building has never closed at; the neighborhood's $1,789 average says the market is closer to it than the spring was.
No closings, no contracts, five listings. The one-beds are waiting on buyers who were scarce across the neighborhood this quarter; the two-beds are asking above anything the building has closed at, in a quarter when the neighborhood paid up. Price a two-bed inside the neighborhood's per-foot number and it has a market; above it, expect to keep waiting.
Closed salesJul – Sep 2026 · 0
| Apt | Size | Sold | DOM | Date |
|---|
How these numbers are computed
Closed sales are recorded sales at 325 Fifth with a closing date inside the quarter. The median is the middle sale price. Days on market run from the listing date to the contract date. The listing discount is the average gap between the last asking price and the sale price; sale-to-list is the sale price as a share of the original asking price. Price per square foot uses each unit's recorded square footage. Rents are the last asking rent of each signed lease.
Midtown South & NoMad figures are the neighborhood's closed sales and signed leases in the quarter. Months of supply is the number of active listings divided by the quarter's closings per month. Average days on market and the listing discount leave out closings recorded with no market time. Nothing in this report is estimated.
Two-beds hold
$9,000 to $9,500
Six leases signed this quarter, up from five in the spring. Five of them took eleven to eighteen days. The sixth, #14C, took 103 — and it's the one to know about.
By type: the three two-bedrooms leased at $9,000 to $9,500, the same band as the spring's four; the two one-bedrooms at $5,300 and $6,300, against $6,000 in the spring; the quarter's one three-bedroom, #42A, took $12,500 in 17 days. The median rose to $9,250 from $9,000 and the average to $8,683 from $8,600 — small moves, on a mix that barely changed.
Days on market read 30 against 8 in the spring, and that is one apartment: #14C closed as a sale at $1,666,600 in May and was leased in September at $9,500 — $114,000 a year, a 6.8% gross yield on the purchase — after 103 days on the rental market. Take it out and the other five averaged 15.
Across Midtown South and NoMad, 179 units rented, up from 143, at a $5,900 median and 29 days. The building's two-bedrooms clear well above the neighborhood's median because that median is every size; read your unit by its type.
Second straight quarter of $9,000 to $9,500 two-bedroom leases, one-beds at $5,300 to $6,300, a three-bed at $12,500 in under three weeks. Rental demand at 325 Fifth is steady and quick; price to the band and expect two to three weeks.
Signed leasesJul – Sep 2026 · 6
| Apt | Size | Last asking | DOM | Leased |
|---|---|---|---|---|
| 14C | 2 Bed | $9,500 | 103 | Sep 14 |
| 29C | 2 Bed | $9,500 | 14 | Aug 19 |
| 32E | 1 Bed | $6,300 | 15 | Aug 18 |
| 12G | 1 Bed | $5,300 | 18 | Jul 30 |
| 30F | 2 Bed | $9,000 | 11 | Jul 25 |
| 42A | 3 Bed | $12,500 | 17 | Jul 21 |
Two ways to read
your unit
This quarter made the argument one-sided. Nothing sold; five listings sat, two of them after price cuts. Six leases signed, most inside three weeks, and the May buyer of #14C is already collecting $9,500 a month. If you're weighing the two, the rental side is doing the work right now. The sale side needs a price the neighborhood's buyers recognize — they paid $1,789 a foot on average this quarter, for larger apartments — and the two-bedrooms listed above that number will tell us by year-end whether the building can close there.
The entry end
went quiet.
Thirty-seven closings, and a median that jumped 17% to $2,275,000. Before you read that as a price surge, look at what stopped selling.
Two closings under $1 million this quarter, against nine in the spring. The $2 million-and-up end held steady — 22 closings against 21. Take the small apartments out of the bottom of the range and the middle moves up on its own. That's most of the jump.
Not all of it. Price per foot rose 9%, to $1,789 from $1,641, and the quarter's top sale — a penthouse at $11.4 million — set the tone. Days on market came down to 89 from 123, a month faster. The listing discount widened to 4.4% from 3.2%: buyers took a little more off at the table, but they showed up.
Supply is the number that hasn't changed character. 115 units active and 30 in contract put the neighborhood at 9.3 months of supply, against 10.4 last quarter. Deep inventory, moving faster than it did — still a market where the buyer sets the calendar.
The top of the market firmed and the pace picked up; the entry end was thin. If you own a larger apartment, this quarter moved in your favor on price and time. If you own a smaller one, there were few comps and few buyers — price to the building, not to the neighborhood median, which this quarter is telling you about other people's apartments.
More leases,
same terms.
A hundred seventy-nine units rented, up from 143 in the spring — a quarter more volume, at a firmer median.
The median rose 5%, to $5,900 from $5,625. The average slipped to $6,992 from $7,202 — the typical apartment gained and the very top gave a little back, so the strength this summer sat in the middle of the market.
Pace held rather than tightened. Days on market were 29, against 30. Supply stayed just under three months — 2.97, with 177 units active and 28 in contract — the same reading as last quarter. Summer brought more leases, and the neighborhood had the inventory to absorb them without a squeeze.
So read it as a balanced market, not a landlord's sprint. If you're renting out a typical unit, you'll lease in about a month at a firmer number than the spring. If you're at the top, price to the comps — the average says that end didn't stretch.
Healthy and orderly: a quarter more leases, a median up 5%, a month to lease, three months of supply. Demand is real; so is the competition. Price to the market and you'll move on time.
Beyond
the numbers
Selected sales and leases from across Manhattan, and the approach behind them.
