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Yesterday, the Federal Reserve cut its benchmark interest rate by half a percentage point. With a cooling labor market and a recent rise in the national jobless rate, the Fed signaled the possibility of further cuts ahead. While rates remain double what they were in 2020, this reduction could encourage some hesitant buyers to take advantage of competitive pricing, negotiable sellers, and perhaps bring additional inventory onto the residential market.
Amid higher rates, an attractive strategy known as "interest rate buydowns" has gained in popularity. This approach allows sellers to lower a buyer’s mortgage rate by paying upfront fees. This can be achieved either through discount points, which provide a permanent rate reduction, or temporary buydowns, which lower the rate for a set period before it returns to the original rate.

In this article:

Ritz Tower, 465 Park Avenue
Ritz Tower, 465 Park Avenue Midtown East
The Rennie, 2351 Adam Clayton Powell Jr. Boulevard
The Rennie, 2351 Adam Clayton Powell Jr. Boulevard Harlem
One Manhattan Square, 252 South Street
One Manhattan Square, 252 South Street Lower East Side
205 East 78th Street
205 East 78th Street Lenox Hill
Lexe Passive House, 669 Saint Marks Avenue
Lexe Passive House, 669 Saint Marks Avenue Crown Heights
https://www.freddiemac.com/pmms
While both options offer savings, buyers must fully understand the terms and trade-offs, particularly since temporary buydowns often require buyers to qualify based on the final, full rate. As the sales market becomes slightly more accessible, below is a roundup of available properties offering special incentives to make this period a more enticing time to buy a NYC home.
Interest Rate buydowns 547 West 47th Street in Hell's Kitchen is one of several recently-finished condos offering interest rate buydowns to sweeten the deal (Concrete)


Active Listings With Interest Rate Buydowns or other Special Incentives


860 Grand Concourse, #6F
$429,000 (-8.7%)

Mott Haven | Cooperative | 2 Bedrooms, 2 Baths

Incentive: Ask About Owner Financing Options At A Low Interest Rate!
860 Grand Concourse, #6F (Bank Neary Inc)

800 Ocean Parkway, #6C
$459,000

Borough Park | Cooperative | 2 Bedrooms, 1 Bath

Incentive: This Unit Is Approved For A 1st-Time Homebuyers Program. First Time Buyers May Qualify For A Loan With A 5.625% Fixed Interest Rate For 30 Years.
800 Ocean Parkway, #6C (Corcoran Group)

The Luxe, #3G
$510,000 (-1.9%)

Midwood | Condominium | 1 Bedroom, 1 Bath

Incentive: Take Advantage Of This Limited-Time Offer! Buydown Of Mortgage Rates Included! Enjoy The Benefits Of A Reduced Interest Rate.
The Luxe, #3G (Corcoran Group)

820 Ocean Parkway, #417
$525,000

Borough Park | Cooperative | 2 Bedrooms, 2 Baths

Incentive: First Time Buyers May Qualify For A Loan With A 5.875% Fixed Interest Rate For 30 Years.
820 Ocean Parkway, #417 (Corcoran Group)

161 West 16th Street, #9C
$745,000 (-3.9%)

Chelsea | Cooperative | Studio, 1 Bath

Incentive: Purchase This Home With An Interest Rate That Is 2% Below Market Prevailing Rates.
161 West 16th Street, #9C (Corcoran Group)
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Kensington Manor, #207
$749,000

Kensington | Condominium | 2 Bedrooms, 2 Baths | 772 ft2

Incentive: This Building Is Approved For a 1st-Time Homebuyers Program. First Time Buyers May Qualify For A Loan With A 5.625% Fixed Interest Rate For 30 Years.
Kensington Manor, #207 (Corcoran Group)

419 Herkimer Street, #PHF
$749,000 (-9.2%)

Bedford-Stuyvesant | Condominium | 1 Bedroom, 1 Bath | 722 ft2

Incentive: Tax Abatement Through 2030 and Eligible for a Mortgage Rate As Low As 4.25% Or Up To 2% Interest Rate Reduction
419 Herkimer Street, #PHF (Corcoran Group)

547 West 47th Street, #315
$785,000

Midtown West | Condominium | Studio, 1 Bath | 491 ft2

Incentive: Inquire About Our Studio and Select 1Br Rate Buy-Down Program
547 West 47th Street, #315 (Corcoran Sunshine Marketing Group)

The Perrie, #305
$885,000

Turtle Bay/United Nations | Condominium | 1 Bedroom, 1 Bath | 627 ft2

Incentive: The Perrie is the first residential building in Turtle Bay to meet the requirements for Federal Housing Administration financing. allowing buyers approved by participating lenders to obtain a mortgage through a government-backed loan that often comes with a lower down payment.
The Perrie, #305 (Corcoran Group)

2025 Ocean Avenue, #4B
$850,000

Midwood | Condominium | 3 Bedrooms, 2 Baths | 1,470 ft2

Incentive: This Building Is Approved For a 1st-Time Homebuyers Program. First Time Buyers May Qualify For A Loan With A 5.875% Fixed Interest Rate For 30 Years.
2025 Ocean Avenue, #4B (Corcoran Group)

The Rennie, #614 (Brown Harris Stevens Development Marketing LLC)

The Kent, #401
$999,999

Clinton Hill | Condominium | 2 Bedrooms, 2 Baths | 950 ft2

Incentive: Favorable 5.625% Interest Rate by our Preferred Lender Plus, 10% Down Offers Accepted
The Kent, #401 (Compass)

Millennium Tower Residences, #26D (Corcoran Group)

Fabric Astoria, #406
$1,095,000

Astoria/LIC | Condominium | 2 Bedrooms, 2 Baths | 956 ft2

Incentive: Interest Rate As Low as 4.75% – Astoria’s Latest 20 Year Tax Abated** Condominium.
Fabric Astoria, #406 (MNS)

Arbor, #PH9C
$1,199,000

Kensington | Condominium | 3 Bedrooms, 2 Baths | 1,233 ft2

Incentive: First Time Buyers May Qualify For A Loan With A 5.625% Fixed Interest Rate For 30 Years
Arbor, #PH9C (Corcoran Group)

328 Grand, #4A
$1,329,000

Lower East Side | Condominium | 1 Bedroom, 2 Baths | 910 ft2

Incentive: Sponsor Offering To Buy Down Points! 5.875% Interest Rate Available To Qualified Buyers!
328 Grand, #4A (Real New York)

Stratford Terrace, #PH5
$1,650,000

Flatbush | Condominium | 3 Bedrooms, 2.5 Baths | 1,430 ft2
Tax & Common Charge Incentive! The Real Estate Taxes & Common Charges Include 50% Off For 2 Years!
Stratford Terrace, #PH5 (REAVIS PARTNERS LLC)

218 Classon Avenue, #2A
$1,850,000

Bedford-Stuyvesant | Condominium | 3 Bedrooms, 2 Baths | 1,412 ft2
Incentive credit provided by Sponsor: Credit is in the amount of 50% of the first year annual tax bill
218 Classon Avenue, #2A (Nest Seekers LLC)

The Deuce, #Ph8
$2,200,000

Midtown West | Condominium | 2 Bedrooms, 2.5 Baths | 2,157 ft2

Incentive: 5% Interest Rate With Seller Financing Available To Qualified Buyer(s)
The Deuce, #Ph8 (Bond New York Properties LLC)

One Manhattan Square, #54D
$2,500,000 (-2%)

Lower East Side | Condominium | 2 Bedrooms, 2 Baths | 1,164 ft2

Incentive: Mortgage Interest Rate Buy Down Available | $24/ Monthly In Taxes.
One Manhattan Square, #54D (EXP Realty NYC)

The Bryant, #25A
$4,995,000

Midtown West | Condominium | 2 Bedrooms, 2.5 Baths | 1,650 ft2
Incentive: Reduced Prices. No Common Charges for 12-months. Reduced Closing Costs.
The Bryant, #25A (Corcoran Sunshine Marketing Group)

69 West 83rd Street, #TH
$10,500,000

Central Park West | Townhouse | 5 Bedrooms, 6+ Baths | 7,320 ft2

Incentive: Owner Financing Assistance Available At 4.75% Interest Rate
69 West 83rd Street, # (Leslie J Garfield & Co Inc)

Would you like to tour any of these properties?
Just complete the info below.
  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?