Well, yes, it is that bad

In a long New York Post piece, a number of real estate stars and executives are quoted as saying that things aren’t so bad in the Manhattan housing market.  One broker (who happens to retain a publicity agent) is quoted as saying the Upper West Side has weathered the storm best in terms of price.  If that’s true, pity the rest of Manhattan.

At broker open houses on the Upper West Side today, for example, four of the five I visited almost at random had undergone price cuts.  One was listed by a new broker after the previous broker failed to sell the totally renovated, three-bedroom co-op for $2.7 million and then $2.4 million.  It is now $1.995 million.  What does that say about prices?  Maybe the bottom is in sight after all.  But the storm has belted the whole island, no matter what anyone says.

Malcolm Carter
Licensed Associate Real Estate Broker

Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022
M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
http://www.ServiceYouCanTrust.com

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