Manhattan Luxury-Home Prices in a Slide, Defying Broader MarketBy
New York’s high-end glut meets with slackening buyer demand
Toll Brothers discounting listings after unsold units linger
Manhattan’s luxury-home market is losing its luster.
The median price for the borough’s most-expensive homes fell to $3.59 million in October, down 2.2 percent from a year earlier, according to an index by StreetEasymeasuring resales in the top 20 percent of the market. Prices have been dropping every month since February, when they reached their highest point on record, a median of $3.72 million, an analysis of data from the listings website shows…
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