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Welcome to The Data Drop by TRD Data, a weekly look at the numbers shaping real estate.
This week, The Real Deal looked at the data behind an important question in NYC: Can neglected buildings still make money?
One of landlords’ central arguments against the city’s recent vote for a rent freeze for stabilized apartments is that if they don’t collect enough rent, they can’t maintain their buildings.
But research from the Rent Guidelines Board shows that even buildings with a high number of housing code violations — and lower rents — are still in the black.
The data has holes. It’s three years old and doesn’t include buildings with fewer than 10 apartments. Violations can also linger even if a landlord resolved them. But it still provides some helpful insight into rent-stabilized buildings and what is really needed to make them run profitably.
Here’s what else TRD Data covered this week:
🗽 NYC home sellers mostly profited in 2025 — except in Manhattan
Home sellers in the Big Apple generally sold their properties for more than they purchased them for last year.
One exception? Manhattan. The borough’s condo boom has led some sellers to part with homes for less than they originally paid for them. The median resale loss was $24,000, according to a report from PropertyShark.
What this means: Timing is everything. The sellers that fared the best originally purchased their homes in the years after the Great Financial Crisis. Those who bought after the pandemic, when prices soared, fared worse.
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🏠 NYC home flipping drops as state legislators propose new tax
Across the Big Apple, flipping has fallen year over year, which isn’t a huge surprise given the era of economic uncertainty and escalating labor and material costs the country is experiencing. Flipping also has dropped across the state and country.
The decline is happening though as the state legislature eyes another tax on home flippers, arguing that flippers tend to target the most affordable communities, which are predominantly communities of color.
What’s next? The legislation, led by State Sen. Julia Salazar, is still in the committee phase. TRD Data will be watching to see if it ever progresses.
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🤠Texas housing boom pushes further north
The Dallas-Fort Worth area has been experiencing a housing boom for some time. But now, the epicenter of activity has shifted to northern Collin County, specifically to the once-rural Celina.
New home sales in Celina soared 61 percent in April compared to the year before, according to TRD Data. Overall home sales in Celina, which has the fastest-growing population in the U.S., posted a 39 percent surge.
Why Celina? The city has been focusing on infrastructure, parks and public safety, according to the city’s mayor. This has helped attract people from within the Dallas-Fort Worth Metroplex as it continues to expand.
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🗣️ ICYMI
The Real Deal’s July issue is live! And so are the latest rankings. This month, TRD Data crunched the numbers to uncover the top residential brokers and brokerages in the San Francisco Bay Area.
💸Big Deals
The top NYC sales of the week
🏆 Commercial: The biggest commercial sale to hit records was in the Flatiron District for a pair of properties at 24-28 West 25th Street and 48 West 25th Street, totaling $125 million. Savanna was the seller and Kaufman Investments was the buyer. Both office buildings stand 12 stories high and combined span about 211,000 square feet. Savanna purchased the buildings in 2018 for about $197 million.
🏆 Residential: In the West Village, 245 West 4th Street sold for $46 million. Eric Colombel, founder of the Tsadra Foundation, and his wife, Andrea Soros Colombel, daughter of billionaire George Soros, were the sellers. The buyer was a trust. The three-story building spans about 8,900 square feet. The sale comes out to about $5,100 per square foot.
🧠 Stat of the Week: $1.25 million
Manhattan’s median sales price for condos and co-ops just reached another high in the second quarter — $1.25 million, according to the most recent Housing Notes report from The Real Deal and Jonathan Miller. That represents a 4.2 percent year over year increase.
Thoughts? Questions? What would you like to see us cover? Send us a message at mary.diduch@therealdeal.com.