Relevant:
- One in Four of New York's New Luxury Apartments Are Unsold As 3-Year Market Downturn Deepens
- Private Restaurants for New York's Richest Diners Are on the Rise
- New York eclipses London in ultra-luxury residential sales
- Manhattan's $10 Million Apartment Market Outperforms Rest of New York City
- Luxury real estate blues hit Manhattan
2019-02-20 — therealdeal.com
Whereas just 7.7 percent of the 16,000 apartments resold in New York from 2014 to 2018 sold for an outright loss, that percentage rose to 39 percent -- 26 out of 66 -- for luxury apartment resales in Midtown.
"One of the things that I struggle to wrap my head around is why people continue to park money in high-end New York real estate when it's not a very lucrative asset class," StreetEasy senior economist Grant Long told the New York Post.
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