NYC’s Luxury Market Shifts as Move-In-Ready Condos Take Center Stage
Amid rising material costs and post-pandemic lifestyle changes, move-in-ready condos in NYC have become the top choice for high-end homebuyers, says Juliet Clapp, a seasoned executive with over two decades in New York real estate.
Now a senior vice president and managing partner at The Agency’s New York office, Clapp says buyers are turning away from time-consuming renovations and embracing newly finished properties that require little to no work.
“Buyers don’t want the stress of construction anymore,” Clapp told Mansion Global. “Between cost uncertainty and lack of vision, turnkey homes are more attractive than ever.”
Renovation Fatigue and Rising Costs Shift Buyer Behavior
As tariffs and global supply issues threaten to further increase the cost of building materials and designer finishes, buyers are looking for fully outfitted spaces—especially in new developments. With high interest rates now the new normal, Clapp believes buyer confidence has returned, driving steady demand.
“There’s more resilience in the market this year,” she said. “Buyers have adjusted to current rates.”
Where Luxury Buyers Are Heading
While classic corridors like Park and Fifth Avenue are cooling, the West Village and Tribeca remain hot spots for buyers seeking charm, walkability, and modern comfort.
“Everyone wants the West Village,” Clapp said. “It still has that neighborhood feel, and people value lifestyle just as much as square footage.”
For buyers looking to avoid over-the-top amenity fees, smaller prewar buildings and boutique co-ops are growing in popularity. Privacy, peace, and charm are proving just as valuable as pools and doormen.
Must-Haves and Deal Breakers
Clapp reveals that in-unit washers and dryers remain a non-negotiable for families. Gyms continue to top the list for building amenities.
But for many, less is more.
“Some people just want peace and quiet. I didn’t want a doorman in my last home—I needed a break from the constant people interaction,” Clapp admitted.
Behind the Scenes With Juliet Clapp
In her own home, scented candles are Clapp’s go-to comfort item. “The first thing I do when I walk in is light a floral candle—gardenia or lavender,” she shared.
She recently built her dream home in Rhode Island, close to the ocean and filled with personal meaning. But her bucket list still includes designing a home on Lake Como, Italy.
The Outlook for 2025
Looking ahead, Clapp describes the market as “balanced and steady”, despite continued pressure from interest rates and global economics. Buyers are becoming more strategic, choosing quality, convenience, and lifestyle over size or flash.
“This spring won’t be frenzied, but it will be strong,” she predicts.
