Manhattan sellers unbothered, mortgage rates drop below 5 percent, & more

By Jennifer White Karp  |
August 5, 2022 - 10:30AM


The 30-year fixed-rate mortgage averages 4.99 percent, falling below 5 percent for the first time since mid-April (CNN)

New listings dropped 17 percent in Manhattan last month in part because "sellers are not panicking" (Mansion Global)

A new building with over 200 new affordable apartments in Far Rockaway cost the city about $234 million and was completed four years ahead of schedule (Daily News)

A long-stalled development site at 24-19 Jackson Ave. in Long Island City is going to get Queens’s tallest apartment tower instead (The Real Deal)

New York City Comptroller Brad Lander wants to hear from NYCHA residents (NY1)





Jennifer White Karp

Managing Editor

Jennifer steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in New York City real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.