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The Mamdani Effect, Stock Market Edges Lower to Close Tough Week, Charitable Donations Topped $600 Billion for the First Time Last Year & Bitcoin is Down 20% Since May

Martin Eiden | June 29, 2026

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Market by Minh & Martin, a financial news graphic from the Martin Eiden Team at Compass.

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New and Noteworthy

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The Mamdani Effect

Last Tuesday, New York held several races for office and every one of the candidates NYC Mayor Zohran Mamdani backed won including two who unseated incumbents. Turnout increased by roughly 50 percent between 2022 and Tuesday, signifying Mandani's major sway within these races. New York loves to fight to overcome the odds, right NY Knicks? (More)

Stock Market Edges Lower to Close Tough Week

U.S. indexes finished Friday down slightly, a fifth-straight decline for the S&P 500 and Nasdaq. Tech stocks faced pressure again, with chip makers lower (NVDA down 9.1%) . U.S. crude oil moves back above $70 after fresh U.S. attack on Iran, after Trump accused Iran of violating the ceasefire.

(More)

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Charitable Donations Topped $600 Billion for the First Time Last Year

Donors gave an estimated $617.2 billion to U.S. charities last year, up 5.7% from the year prior on a blistering stock market rally. The findings mark the first time yearly giving has topped $600 billion in the 60-year history of the annual philanthropy report. Megadonors like MacKenzie Scott (who contributed roughly $7 billion on her own) were the reason for this record breaking year.(More)

Bitcoin is Down 20% Since May

Bitcoin is tanking. Despite a modest rebound in the past day, the price of the world’s largest cryptocurrency is down about 5% over the past week and 20% since May. Ethereum, the world’s second-largest cryptocurrency, has seen comp-arable declines, and the total crypto market capitalization has dropped 36% in a year to now just over $2 trillion. (More)

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Team News

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Baby Emmitt

Our very own Minh Luong had a little baby boy named Emmitt this year. Weighing in at a whopping 8lb 11oz, we welcome enormous gift to the world.

In the true spirit of this team, the first thing we thought of was

"Next Generation of Martin Eiden + Partners?"

Whether he becomes a true member of the team or simply stays an honorary one (and doesn't he look good in the ME + P onesie??), we are thrilled for Minh and the Luongs. Join us in celebrating this adorable new addition to the world. Congrats Minh!

[Introducing the Martin Eiden + Partners Onesie: available only to the baby's of ME+P members]

Say Congrats!

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145 Park Place, Unit 3D Park Slope 1 Bed \| 1 Bath Open: 6/20 11:00AM - 12:30PM	45 Sutton Place South, Unit 12L Sutton Place 2 Bed \| 2 Bath Open: 6/20 01:00PM - 02:30PM
280 Park Avenue South, Unit 8K Flatiron 1 Bed \| 1 Bath Open: 6/21 11:30AM - 01:00PM	531 Main Street, Unit 409 Roosevelt Island 2 Bed \| 2 Bath Open: 6/21 01:00PM - 02:30PM
35 East 20th Street, Unit 6B Flatiron 3 Bed \| 2.5 Bath Open: 6/21 02:00PM - 03:30PM	328 West 86th Street, Unit PHA Upper West Side 1 Bed \| 1 Bath Open: 6/21 02:00PM - 03:30PM
472 West 143rd Street Hamilton Heights 7 Bed \| 5 Bath	529 West 42nd Street, Unit 7A Hell's Kitchen 3 Bed \| 2 Bath
50 Riverside Boulevard, Unit 3T Upper West Side 1 Bed \| 1 Bath	280 Park Avenue South, Unit 5L Flatiron 1 Bed \| 1 Bath
175 East 2nd Street, Unit 4D East Village 1 Bed \| 1 Bath	152 North 9th Street, Unit 3L Williamsburg 1 Bed \| 1 Bath
50-54 East 8th Street, Unit 3S Greenwich Village 1 Bed \| 1 Bath	40 East 80th Street, Unit 2C Upper East Side Alcove \| 1 Bath

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We are working on some exciting things! Get a sneak peak of our latest project: Stacklist.

It is an easy way to navigate all of the services we offer, guides to NYC's most iconic neighborhoods, advice and guides for buying/selling in NYC, the best restaurants, bars, etc, and so much more!

https://stacklist.com/martin-eiden-team

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Martin Eiden

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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