New York’s real estate market now straining for growth

Posted by Staff Reporter on Feb 23, 2019 10:26 AM EST
  • email
  • print
Close
New Yorkmore big
(Photo : Snapwire)

A penthouse condominium by Central Park in New York just fetched $238 million. Bought by hedge fund billionaire Ken Griffin, it is the highest price ever paid for a home in the United States.

But that sale is an outlier. Most luxury properties in New York are not breaking records. Sales are slowing. "For buyers, it's a fantastic opportunity," said Donna Olshan, Founder of Olshan Realty. Donna Olshan, who tracks sales of properties that go for $4 million and above, said contracts in January fell 16 percent from a year ago to its lowest level in six years. 

Full Article

Get the Most Popular RealtyToday Stories in a Weekly Newsletter
RealtyToday Best Deals
Real Time Analytics