Tuesday, January 06, 2009

Manhattan luxury housing feeling the pinch - Real estate- msnbc.com

NEW YORK - Park Avenue property owners are feeling a little poorer.In what seemed like a New York-minute, prices of luxury homes in the area suddenly started to fall. One penthouse owner on Central Park West repeatedly slashed the asking price down to $9.9 million from an original $16.5 million — and still no takers."Up through the end of this summer, there were almost two markets in Manhattan, the high-end and everything else," said Jonathan Miller, president and chief executive of Miller Samuel Inc., a real estate appraisal and consulting firm
Manhattan luxury housing feeling the pinch - Real estate- msnbc.com
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