All you need to do is look at the statistics to see why it’s a bad time to be building on Billionaires’ Row. The Manhattan luxury market — the top 10 percent of the market — saw average prices drop by 15 percent and sales volume plummet 24 percent in 2018’s first quarter compared to the same time last year, according to Miller Samuel. And inventory in the luxury sector rose at more than twice […]
source https://therealdeal.com/2018/06/28/how-are-billionaires-row-developers-coping-with-the-submarkets-condo-inventory/
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