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AM NY Crash Article - Manhattan Apartment Prices Down 11% in Q3

Started by nyc10022
over 17 years ago
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Member since: Aug 2008
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http://weblogs.amny.com/entertainment/urbanite/blog/2008/12/_chris_demarco_has_lived.html The average price of a Manhattan apartment in the third quarter fell 11 percent to $1.48 million, according to Miller Samuel, a real-estate appraisal firm.... The New York City Building Congress, a construction industry trade group, predicts the city will add 35,700 housing units through new construction this year. That’s the highest total since the mid-1960s, said Richard T. Anderson, the group’s president. “Twelve years ago the entire city of New York built about 4,000 units per year and just the last three years it’s been about 30,000 a year,” he said.
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