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NYC's US$45b luxury-condo glut set to start easing soon

Published Thu, Mar 11, 2021 · 05:50 AM

New York

MANHATTAN'S glut of luxury condos has been nearly a decade in the making. This could be the year the logjam starts to break.

Professional deal-seekers are amassing investment funds, ready to pounce at the chance to purchase unsold apartments in bulk. And developers with towers that started sales years ago are finally dropping unit prices to levels ordinary buyers are willing to pay.

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