Manhattan building permits dip 13 percent

In New York’s slower housing market, developers are pulling back on fresh development. Developers have applied to build 3 percent fewer residential units so far in 2006 compared to the same time period last year. In Manhattan, permits fell 13 percent, which translates into 12 fewer buildings going up this year. Also, in the slower market, brokers are telling buyers up front that prices are negotiable. more [Post and Crain’s]