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Manhattan luxury-home sellers are getting the message: cut the price

In a saturated market, they are finding that discounting is the surest way to a deal
Saturday, May 27, 2017 - 05:50

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The post-recession construction boom that churned out thousands of pricey condos is still going strong, with  4,282 newly developed apartments expected to be listed in Manhattan this year.

New York

OWNERS of Manhattan luxury homes are waking up to a simple reality: if you want your place to sell, drop your price.

For high-end homes that found buyers in 2017, the median asking price was the lowest in at least five years, according to data from luxury brokerage Olshan

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