Confused about what happened in the luxury market in 2016? Here’s a handy guide

How did Manhattan’s luxury market fare in 2016? The optimistic broker or developer might point to the fact that this year will see a record $9.4 billion in closings for apartments priced $4 million and up, according to a new analysis by The Real Deal. But there’s another benchmark that serves as a more current barometer of the market, and it ain’t sitting pretty: sales volume on luxury contracts was down 16.7 percent year-over-year. A … [more]


Source: Real Estate

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