ISSUE NO. 08 · 2026
CLUBResidences
Building Rental Activity
FiDi Sales Report
FiDi Rental Report
Eighteen units are on the market at 88 Greenwich, and the building closed twice in July: #1602, a studio, at $555,325 — seventeen days on market and 7.3% below its $599,000 ask — and #516 at $707,500, forty-one days out and 5.7% below ask. One more is in contract: #2206, a one-bedroom asking $886,000 that found its buyer in sixty-six days and has been in contract since late June.
Three of the eighteen actives arrived within the last month, all studios, from $585,000 to $975,000. The median ask across the board is $644,500, and the average listing has been up five months.
The by-type story is where the pressure shows. Thirteen of the eighteen listings are studios, asking $535,000 to $999,000, and seven of them have already cut. All three two-bedrooms, asking $790,000 to $1.5 million, have cut too. The two one-bedrooms, at $995,000 and $1,045,000, are the only tier holding its line. Ten reductions across eighteen listings is not a detail — it is the market talking.
Bottom line — Two closings in one month proves the buyers are there, and the sold prices say where: six to seven points under ask. Price against the closings, not against your neighbors' hopes.
The rental side of 88 Greenwich is nearly spoken for. One unit is listed for rent and four are in contract — an 80% lease-up rate — and all four contracts were signed in July: studios at $3,750 and $4,095, one-bedrooms at $4,995 and $5,900. Not one of them cut its price to get there.
The lone active is #1016, a one-bedroom marketed by its owner at $4,999 — and with everything else in contract, that single by-owner listing is why the median asking rent reads N/A this month. One owner's number isn't a market statistic.
The signed leases are the proof of depth: three 88 Greenwich leases closed in July — #3005 at $5,800 in six days, signing $550 *above* its original ask, #1808 at $5,800, also in six days, and #3201 at $5,500 in thirteen. When a unit here rents above ask in under a week, the demand isn't theoretical.
Bottom line — One unit left, four in contract at full ask, three leases signed in days — an empty unit at 88 Greenwich is a pricing decision, not a market condition.
| Apt | Size | SF | Price | Reduction |
|---|---|---|---|---|
| 2206 IN CONTRACT |
1 Bed | 748 | $886,000 $1,184/SF |
|
| 428 | Studio | 569 | $535,000 $940/SF |
$60,000 (−10.1%) |
| 412 | Studio | 518 | $539,000 $1,041/SF |
$9,000 (−1.6%) |
| 526 | Studio | 600 | $545,000 $908/SF |
$4,000 (−0.7%) |
| 501 | Studio | 656 | $555,000 $846/SF |
$45,000 (−7.5%) |
| 715 | Studio | 530 | $575,000 $1,085/SF |
|
| 2903 | Studio | 444 | $585,000 $1,318/SF |
|
| 1613 | Studio | 614 | $599,000 $976/SF |
$50,000 (−7.7%) |
| 1122 | Studio | 618 | $630,000 $1,019/SF |
|
| 324 | Studio | 606 | $639,000 $1,054/SF |
$31,000 (−4.6%) |
| 1014 | Studio | 735 | $650,000 $884/SF |
$68,000 (−9.5%) |
| 721 | Studio | 671 | $700,000 $1,043/SF |
|
| 2304 | 2 Bed | 616 | $790,000 $1,282/SF |
$50,000 (−6.0%) |
| 2008 | Studio | 829 | $975,000 $1,176/SF |
|
| 3202 | 1 Bed | 732 | $995,000 $1,359/SF |
|
| 2009 | Studio | 898 | $999,000 $1,112/SF |
|
| 1704 | 1 Bed | 782 | $1,045,000 $1,336/SF |
|
| 604 | 2 Bed | 1,213 | $1,359,000 $1,120/SF |
$90,000 (−6.2%) |
| 2303 | 2 Bed | 1,170 | $1,500,000 $1,282/SF |
$50,000 (−3.2%) |
| Apt | Size | SF | Rent | Reduction |
|---|---|---|---|---|
| 720 IN CONTRACT |
Studio | 552 | $3,750 |
|
| 806 IN CONTRACT |
Studio | 620 | $4,095 |
|
| 518 IN CONTRACT |
1 Bed | 785 | $4,995 |
|
| 1110 IN CONTRACT |
1 Bed | 691 | $5,900 |
|
| 1016 | 1 Bed | 656 | $4,999 |
Twenty-two homes closed in the Financial District over the past month, at a median of $1,022,500 and $1,308 per square foot, ranging from $499,000 at the entry to $3,775,000 at the top. Sellers who closed gave up just 4.1% off their final ask.
The other side of the ledger is inventory: 306 homes actively listed against 70 in contract — about fourteen months of supply at July's closing pace. Setting aside the sponsor closings that record at contract, the sales that closed waited an average of 76 days.
Put those together and the picture is precise: this market is slow, not soft. Buyers can afford patience and they are spending it — but the deals that get done are closing tight to ask.
Bottom line — FiDi clears at full-ish prices for sellers who can wait and punishes the ones who can't. Know which one you are before you list, and set the number accordingly.
One hundred forty-six units rented in the Financial District in thirty days, with eighty-three more in contract. The median lease signed at $4,924, the average at $5,872, and the range ran from $3,200 at the entry to $29,500 at the top.
The tempo is fast: 24 days on market on average, and against 298 active listings the closing pace works out to about two months of supply. Where the sales market asks patience, the rental market clears.
Bottom line — Two months of supply, three-week absorption, and a pipeline eighty-three deep — rentals remain FiDi's liquid half. If your unit is empty going into August, the market is not the reason.
New York, NY 10003