The Real Deal New York

From the April issue: Financial news has been bleak as of late, with the credit crisis and the collapse of Bear Stearns rocking the real estate world. Yet while sellers of lower- and mid-priced homes have suffered, some real estate watchdogs maintain that the market for trophy properties has remained insulated from price fluctuations. Can that hold up with the economy headed downward? This month, The Real Deal set out to get a sense of how the ultra-high-end of the market was faring. We looked at sales of $20 million and over in the first two months of 2008, and compared them to sales in the first two months of 2007.