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Manhattan prices stable in 2017, as luxury takes a breather

Many high-end and ultra-high-end listings face deeper price cuts, more time on the market and fewer bidding wars

Luxury condo 443 Greenwich Street (above) is popular with celebrities.

The distinctive 60-storey tower 56 Leonard (above), had its priciest closing this past year with the US$47.87 million sale of its top-floor penthouse.

Meanwhile, the supertall 432 Park Avenue (above), on Billionaires' Row, between 56th and 57th streets, dominated the city's top-20 biggest sales list.

New York

MANHATTAN'S luxury market took a much-anticipated breather for most of 2017.

The frenetic pace of activity, long the norm during the recent building boom, slowed. Many high-end and ultra-high-end listings faced deeper price cuts, more time...

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