The numbers say New York City’s condo market is in trouble. About one in four new condo units constructed since 2013 are unsold — or about 4,100 — and, of the units that did trade, 38 percent are back on the market as rentals, according to a StreetEasy analysis published by the New York Times. The latter finding about investor activity raises a red flag for the listing platform’s economist Grant Long in particular. “That’s […]
source https://therealdeal.com/2019/09/13/nycs-condo-market-is-showing-signs-of-a-recession/
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