Manhattan apartment sales fell 18% in the third quarter, as rising mortgage rates and declining stock markets put the brakes on New York’s real estate comeback
Apple Supplier Foxconn Says It Is ‘Cautiously Positive' on Q4, Adding to Debate Over iPhone 14 DemandHaber said she represents a potential buyer who was looking at a penthouse initially priced at $14 million, which came down to $12 million. She recommended putting in an offer of $9 million or $10 million"and if they take it, they take it."
"The full impact on sales and prices won't be known for at least another quarter," according to a report from Brown Harris Stevens. Brown Harris said that half of the closings in the third quarter were signed before mid-May, and don't reflect the full impact of rising rates. The high end of the market is showing the biggest declines. A report from Coldwell Banker Warburg found that both median discounts and median days on the market increased for apartments priced at $10 million or more. Co-ops in the"beautiful large pre-war apartments along Park and Fifth Avenues and Central Park West which have been aspirational homes for so many New Yorkers now linger for months, even years, without buyers," according to the report.
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