Relevant:
- Manhattan Luxury Condos Try FHA Backing in Sales `Game Changer'
- Manhattan Apartment Sales Plunge 20%
- Blackstone Pulls Plug On Renovations At Its Biggest New York Property After Rent Reform
- The Vanishing Market For $100 Million Homes
- Foreclosed $51 Million "Billionaire's Row" Penthouse Sells At A 30% Discount
2020-02-21 — curbed.com
Per Crain's, fewer than half of the building's apartments have sold since sales launched in 2015, and its priciest and largest apartments (including a $50 million penthouse) are still seeking buyers. Only two of those apartments sold in 2018. This, Crain's concludes, makes it "a rare bust" for Related.
...
Ultimately, market forces and the tastes of buyers may be to blame. The dip in luxury sales in NYC has been well-documented (despite the occasional $59 million penthouse sale in the neighborhood), and one broker with Douglas Elliman speculated that the apartments themselves don't quite reflect what buyers want these days--namely, smaller, less expensive apartments.
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