NYC New Condos Are Repricing. Here's Where the Opportunity Is

Updated Oct 29, 2026 · 5 min readShare

For buyers, that's room to negotiate. In a few buildings, the new prices are also well under what comparable condos nearby sell for.

More Homes Are Closing Under Their Plan Price

Every new condo's offering plan lists a price for each apartment in Schedule A. Many of those prices were set years before the sale, in a different market. As the plans age, developers update prices to meet the market, and the closings recorded in ACRIS show where they end up.

The typical 2026 closing was 4% under its plan price, compared with 1% in 2022. Since 2024 the share repricing by 10% or more has held about level: higher than 2022, though close to 2021. What's changed is where it's concentrated.

Where the Repricing Is

Buildings that have been on the market longest

Time on the market makes the biggest difference. In buildings whose plans were accepted under a year before closing, 17% of 2026 closings were 10% or more under plan price. In buildings selling for three years or more, it was 53%, and the typical closing was 11% under. Those are the homes whose prices were set furthest back.

Homes under $4 million

The top of the market has held its plan prices better. 16% of homes listed at $4 million or more closed 10% or more under, compared with 35% of homes listed at $2 million to $4 million.

Manhattan most, Brooklyn least

37% of Manhattan sponsor closings in 2026 were 10% or more under plan price, 31% in Queens and 24% in Brooklyn.

Repriced and Below Comparable

A home under its plan price isn't automatically a bargain: some plans started high, and the new price only brings them in line with the neighborhood. The stronger opportunity is a building that has repriced and now sells under comparable new condos.

To check, we priced each 2026 closing against comparable new condos in the same neighborhood, adjusting for size, floor, bedrooms, outdoor space, finishes, amenities, tax break and subway distance. 10 buildings had a typical 2026 closing 15% or more under plan price. Of those, 5 also sold 15% or more under comparable homes. They're highlighted below.

At The Avanti, 2026 closings ran 17% under plan price and 36% under comparable homes: a typical $775 per square foot against $1,196. At Eastlight, closings were 21% under plan price and 32% under comparable homes.

How to Use This If You're Buying

• Look at buildings that have been selling a while. Their plan prices are the most out of date, and their recent closings show where the market has settled.
• Use closed sales, not list prices. Each building's page shows its recorded sponsor sales next to the plan prices.
• Read the latest amendment. New prices for unsold homes are filed as amendments to the offering plan. See how to find them.
• Price in the monthly cost. A lower price with a higher rate can cost about the same each month, but you keep the lower price if you refinance later.
• Visit before you trust a number. Views, light and layout aren't in the records. Our comparable price is typically off by about 12% for any one sale.

For Brooklyn buildings selling under comparable condos, repriced or not, see Brooklyn condo buildings selling below market.

How This Is Counted

We used 1,153 sponsor (first) sales that closed in 2026 through September 2026, and sales back to 2021 for the trend, in Brooklyn, Queens and Manhattan new condos: deeds recorded in NYC ACRIS, each matched to its apartment in the building's offering plan Schedule A, filed with the New York Attorney General. "Under plan price" compares the closing price with the Schedule A price in the original plan. Later amendments can raise or lower that price, so some of the gap may have been filed before the sale. Sales under 60% or over 150% of their plan price were left out as likely not market sales or not matched to the right apartment. Time on the market is measured from the date the Attorney General accepted the plan.

The comparable price comes from a regression on sponsor sales since 2021 in the same borough, with each building's own sales left out when pricing it. A building is listed when it had 3 or more 2026 closings. Limits: sponsor sales only, no resales. Deed prices don't net out concessions such as paid closing costs. Updated October 2026.

Related: Queens Condo Submarkets: LIC, Astoria, Flushing and More · An Advisor for Your Condo or Co-op Board That Knows How Every Other NYC Building Is Run