The number of price chops on apartment listings in Manhattan and Brooklyn has climbed steadily over the past year. In the former, 63 percent of neighborhood offerings underwent reductions, while 53 percent took a tumble in the latter.
Of all the neighborhoods in those boroughs, Roosevelt Island saw the biggest jump in price drops, as the median recorded sale price in July fell 65 percent to $840,000 from $1.48 million. Still, the price chops do not necessarily show that prices have decreased overall in the past year. [more]