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NYC Real Estate Heat & Construction Slowdown | Real Estate News

NYC Real Estate Heat & Construction Slowdown | Real Estate News

Published 6 days, 22 hours ago
Description

NYC’s real estate market just hit a fever pitch with over 200 deals closing for $570M, most in Brooklyn—where a Cobble Hill townhouse sold for $12.9M (bought for $4M in 2024 by its brewery owners), a Park Slope gem fetched $7.2M (up from 2020), and Gravesend’s East Third Street home closed at $6.8M. These soaring prices highlight how long-term ownership in prime neighborhoods pays off. Meanwhile, nationwide construction spending has dipped for 11 straight months—a stark reversal from years of growth.

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