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New York

Sales prices drop in some Manhattan nabes

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Some of the city’s neighborhoods have started to see the economic downturn in lower home sales prices. Prices in Harlem were down almost 20 percent between third-quarter 2007 and third-quarter 2008. Prices for condominiums in Midtown East, Turtle Bay, Midtown West, and Hell’s Kitchen also dropped substantially. Experts expect to see further price declines in the fourth quarter. Brokers said they have been urging sellers to price their apartments 10 or 15 percent below recent comparable sales.