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Manhattan Luxury Market Slows But Still Moves | Real Estate News
Description
Manhattan’s luxury market is cooling on new developments, with just twelve high-end sponsor units signed in the past four weeks—down from the usual 28. Inventory for new construction has plummeted 62% year-over-year, but the top-tier market remains active, with 27 luxury homes over $4M going under contract, including a $27M Wooster Street penthouse and a $14.6M condo at One High Line. Average sale price: $7.6M, with most listings over a year old and reduced.
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