NYC sponsor condo sales settle into new normal

Sponsor sales at newly built condominiums stabilized at $8.3 billion last year, as the breakneck momentum of the post-pandemic boom has officially cooled into a new normal.

In 2025, sponsor sales edged down by roughly 1.6 percent percent year over year to reach about $8.3 billion, according to an analysis of New York City records by TRD Data. That drop was double that of the year before, which had recorded a 0.8 percent year-over-year decline in sales.

The recent decline in sponsor sales follows a stand-out 2022, when more than a third of the sponsor condo sales inked over the past four years occurred. In 2023, deal volume plunged by 41.5 percent.

Behind the success of 2022 was Central Park Tower, completed in 2021 by Gary Barnett’s Extell Development Company at 217 West 57th Street. That project inked more than $602 million in sales in 2022, comprising more than 4 percent of deal volume that year. Since then, sales at the tower have fallen off. By 2025, sales had hit $149 million.

The fall of sponsor sales in recent years also stems from a larger inventory issue. The city’s residential market witnessed a smattering of high-profile new development launches last year — think the hush-hush around Zeckendorf Development and Atlas Capital Group’s 80 Clarkson in the West Village. But demand for newly built, luxury condos remains sky high, and new projects in short supply, leading industry insiders to raise a red flag over an impending inventory cliff.

There also has been a continued shift of some of the top projects from Manhattan to the outer boroughs, where it has been easier to find assemblages for developments.The project that had the highest number of sales last year was at the Bergen in Boerum Hill. The development sold 76 condos in 2025, the second straight year a Brooklyn property nabbed the top spot for the highest number of transactions

By dollar volume, another Billionaires’ Row super tall, 111 West 57th Street, easily took the cake, with a total of more than $362 million in sales.

Despite the fall-off of sales at Central Park Tower, it still was the property with the highest average deal size last year of $24.9 million, edging out 111 West 57th Street, which had an average of $20.1 million.