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Slowdown in New York's high-end market worries Israeli bondholders

Some investors are growing sceptical of financing faraway real estate in locales where they have no local knowledge

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Manhattan's luxury development boom, symbolised by record-setting price tags for extra-large and lavish apartments, is showing signs of a slowdown as inventory swells and interest from ultra-wealthy buyers cools amid so much competition.

New York

GARY Barnett, the developer who touched off a luxury-condo boom in Manhattan, will play host next month to a group of Israeli bond investors who are worried about dimming global interest in New York City's costliest homes. Mr Barnett's Extell Development Co, which sold debt in

sentifi.com

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