Sizing up Manhattan’s condo crunch following a decade of boom and bust

It was set to be the tallest condo tower in Lower Manhattan, capped with a ring of golden bands that arched toward the sky. But as the new year arrived, with the high-end condo market in freefall, developers Madison Equities and Gemdale Properties pulled the plug last month on their 1,115-foot supertall at 45 Broad Street, citing “market conditions.” In the previous quarter, sales in the Financial District sank almost 45 percent. Now, the project

source https://therealdeal.com/2020/05/25/sizing-up-manhattans-condo-crunch-following-a-decade-of-boom-and-bust-2/