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Manhattan's Luxury Real Estate Slowdown Is Spreading to Other Price Tiers | Tony Seruga
Sep
07

Manhattan’s Luxury Real Estate Slowdown Is Spreading to Other Price Tiers

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The market may be shifting.

There are more signs of a slowdown in New York City real estate.

According to new data from listings website StreetEasy.com, the luxury market still hassome adjusting to do with price cuts now spreading from just the most expensive apartments to other price tiers.

“Most of the increase in price cuts for the luxury tier is in the smaller price cuts bucket (5 percent),” said Krishna Rao, StreetEasy’s economist. “While sellers aren’t going for aspirational prices, they haven’t fully adjusted to reality at the top end of the market.” …

Manhattan’s Luxury Real Estate Slowdown Is Spreading to Other Price Tiers

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