Market Overview I Soho / Nolita I May 2026
Every month, we dive into the $1M+ overall market to uncover trends, then take a closer look at new developments, the $4M+ luxury segment, and the key factors shaping our city’s real estate landscape.
In May 2026, the Soho and Nolita real estate market presented varied trends across segments, reflecting shifts in buyer preferences and broader market conditions.
In the overall $1M+ market, there were 13 signed contracts, a 35% decrease year over year, though average prices climbed 22% to $5.12M. The top contract was at 63 Greene Street, unit 5A for $4,500,000. There were 22 new listings, with the top being 565 Broome Street, unit S16B at $15,000,000. There were 12 sales this month, with the top closing at 63 Greene Street, unit PHA for $10,500,000.
On the new development front, there was 1 contract signed at Spring + Thompson, unit 5 for $11,995,000, and 1 new listing at 74 Grand Street, unit PH for $6,450,000. Sales were a bright spot, with 6 closings representing a 100% increase year over year and a 235% surge in dollar volume, led by the Spring + Thompson penthouse at $19,750,000.
In the luxury $4M+ sector, there were 6 contracts signed at an average price of $7.82M, a 50% increase year over year, with the top contract at 203 East 72nd Street, unit 4 for $13,495,000. There were 10 new listings, topped by 565 Broome Street as mentioned above, and 5 sales, with 63 Greene Street, unit PHA again leading the way as the overall top sale.
In the single family segment, there was 1 contract signed, 1 new listing, and 1 sale. The contract was at 200 Sixth Avenue for $7,500,000, the new listing at 30 Sullivan Street for $19,950,000, and the sale at 514 Broome Street for $6,000,000.
Overall, Soho and Nolita continue to show strong interest in high-value new developments and luxury properties, with buyers focused on value over volume, reflecting an evolving and discerning market.
