Buying in the Financial District

There are about 343 homes for sale in the Financial District, with a median asking price of $1.22M — $847K for co-ops and $1.26M for condos. Tell us your budget, size and timing and we’ll send a curated list, including off-market and recently expired listings.

The median sale price in the Financial District is $908K on StreetEasy’s three-month average through September 2026, down 24.8% year over year. City records show a median recorded sale of $990K over the last 90 days.

The market in the Financial District is tilted toward buyers. Buyers are paying about 93% of the last asking price and 9% of listings have cut their price — room to negotiate exists, especially on listings that have sat longer than 105 days.

Co-ops cost less — a median of $723K versus $938K for condos in the Financial District — and have lower closing costs, but require board approval and limit renting. Condos give you flexibility to rent and fewer restrictions on financing.

Plan on roughly 2% to 6% of the price on top of the down payment. Condo buyers pay title insurance and mortgage recording taxes (2.05% to 2.175% of the loan, city and state combined); co-op buyers don’t. Purchases of $1 million or more also carry the mansion tax, from 1% up to 3.9% — relevant at Financial District’s $908K median.

New York’s mansion tax starts at 1% for purchases from $1 million to $2 million and rises in tiers to 3.9% at $25 million and above. On Financial District’s median sale of $908K, that is about $0.

Condos often allow 10% to 20% down. Most co-ops require 20% to 25% and some 30% to 50%, plus post-closing liquidity — commonly one to two years of carrying costs in reserve after closing.

After the contract is signed, you submit a board package — financial statements, tax returns, bank statements, reference letters and the purchase application. The board reviews it, usually interviews you, and approves or declines. Allow four to eight weeks.

Homes in the Financial District sell in about 105 days and close at roughly 93% of the last asking price. There are 343 active listings, down 9.0% year over year.

With a median asking price of $1.22M in the Financial District, $1 million usually buys a one-bedroom or a small two-bedroom, often a co-op. Co-ops stretch the budget further than condos.

At Financial District’s $1.22M median asking price, $3 million reaches the upper part of the market — typically a large two- or three-bedroom. Ask about recent closings in the specific buildings you like.

Come with a pre-approval or proof of funds, a REBNY financial statement for co-ops, a clean contract, and an offer grounded in recorded sales. Buyers in the Financial District are paying around 93% of asking right now.

You are not required to have one, but a buyer’s agent helps with pricing, board packages and negotiation. Since 2024 buyer-agent compensation is set in a written agreement before you tour, so you know exactly what you will pay.

The median sale price in the Financial District is down 24.8% year over year, and −21.6% over five years. Asking prices are down 3.9% year over year.

Light and exposure, noise, layout efficiency, the building’s financial health and any planned assessments. FiDi typically offers more square footage per dollar than the Village neighborhoods to the north, with condo flexibility for investors and pied-à-terre buyers.

Yes, most easily in a condominium. Many co-ops restrict or forbid pied-à-terre use, while condos generally allow it and allow renting it when you’re away, subject to building rules.