The Real Deal New York

From the April issue: B.C. (or Before the real estate Crash), it was axiomatic that you could sell a home for more than you paid for it in New York City.But that truism seems shaky these days, especially for boom-time buyers. In fact, a high number of sellers are losing money on homes purchased during the defining years from 2005 to 2008, according to data from PropertyShark. “What we are seeing a lot is that people are willing to make deals where they lose money,” said Nathaniel Faust, a broker with Citi Habitats, who has seen sellers not only sacrificing all their equity in a property, but having to show up at closings with checkbooks in hand to cover some of the outstanding mortgage debt.