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Manhattan luxury condo sales skew apartment prices: report

Published Wed, Dec 13, 2017 · 09:50 PM
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New York

A BOOM in newly built luxury apartments in Manhattan has skewed prices for the overall residential real estate market in the borough and masked a sharp drop in transaction volume over the past five years, a property report on Wednesday showed.

The number of apartment sales priced above US$10 million has doubled since 2013 when the post-crisis recovery was fully in swing, CityRealty's 2017 Year-End Manhattan Market Report said.

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