Old Mill Basin

The median sale price in Old Mill Basin is $1.2M. Condos sit at a median of $545K and co-ops at $275K. Year-over-year price comparisons swing meaningfully when monthly closed-sale counts are low, so a single recent month is best read alongside the longer-term price trend.

Yes. The median sale price in Old Mill Basin sits within a few percent of the 5-year high. Pricing is firm and listings priced near the comparable median tend to clear with limited room for negotiation.

Sale listings in Old Mill Basin have a median of 30 days on market. That is 4 days slower than the same point a year ago. Roughly 31.3% of active listings have recorded a price cut, suggesting some negotiating room.

Old Mill Basin is broadly balanced right now, with median days on market at 30 days and 31.3% of active listings carrying a price cut. Pricing depends heavily on the specific building and unit.

Old Mill Basin offers both co-ops and condos. Condos are the higher-priced segment at a $545K median, with co-ops at $275K.

Roughly 2 homes change hands each month in Old Mill Basin across condos, co-ops, and townhouses, based on recorded closed sales. That benchmark helps gauge how quickly the market is absorbing new inventory.

The overall median asking rent in Old Mill Basin is $2,000/month.

Median asking rent in Old Mill Basin is currently $1,300 below the 5-year high set in January 2025. Tenants may find slightly more value than at peak, though the gap can close quickly during peak leasing season.

Median asking rent in Old Mill Basin has fallen 9.1% over the past 5 years. That puts the neighborhood in context with longer-term NYC rent dynamics rather than just one-year noise.

Within walking or short-transit distance of Old Mill Basin, median sale prices range across Midtown at $1.9M, Central Park South at $1.7M, Midtown West at $895K, Midtown East at $875K. Each has different building stock, co-op vs condo mix, and transit access, so the right comparison depends on the buyer's priorities.

Old Mill Basin is served by the 1, 2, 3, 7, A, C, E, F, M, N, Q, R, S, W trains. The commute to Midtown Manhattan runs roughly 8 minutes from Times Sq-42 St.

Under the FARE Act in effect since August 2024, NYC landlords who engage a broker pay the broker fee directly rather than passing it to tenants. In neighborhoods like Old Mill Basin, this has shifted some smaller landlords toward self-listing, which has tightened the supply of agent-listed rentals citywide and lifted competition for what remains on market.

Milton Coste is a Licensed Real Estate Associate Broker with Keller Williams New York City. He has 25+ years of experience across all five boroughs, with deep transaction history in co-op board packages, condo offerings, townhouse sales, and rentals. Direct: (917) 416-7433. Email: [email protected].