Ugly data points from Bloomberg’s survey of the real estate survey in lower Manhattan.
- Financial District: Sellers lowered prices on almost a third of condo or co-op listings by an average of 11 per cent in the Financial District.
- Tribeca: 24 per cent of advertised apartments were discounted by an average of 11 per cent.
- Soho: Sellers in SoHo lowered 27 per cent of listings by an average of almost 11 per cent in the first quarter.
For those of you who are really into Manhattan real estate decline stories, the Bloomberg article has details on sales at brand name buildings such as the Cipriani Club Residences and Phillipe Starck’s Downtown at 15 Broad.