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NYC Apartment Property Values Projected to Rise in Fiscal 2026

The market value of New York City’s one million-plus properties is projected to rise 5.7% to $1.6 trillion in the upcoming 2026 fiscal year beginning on on July 1, Bloomberg News reported, citing a tentative assessment roll released by the Department of Finance. In contrast, values rose just 0.7% in 2024, reflecting the Federal Reserve’s aggressive rate hikes.

The picture is even better for co-ops, condominiums and rental apartment buildings where market values are projected to rise 7.3%, reported Bloomberg. Driven by a dearth of inventory, rents soared following the COVID-19 pandemic. The median rent for a one-bedroom apartment in New York City rose 21% between Feb. 2020 and September 2024, according to the city comptroller’s office.

Brooklyn is expected to lead the city with an estimated year-over-year market value jump of 9.4% as rental apartment values in the borough climb 15%.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Policy/Gov't
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