The Real Deal New York

Will high-end be next to fall?

By Adam Piore | March 07, 2008 05:37PM

From the February issue: The luxury real estate market in New York City has been credited by some for bolstering the rest of the market in the five boroughs, but economists and real estate experts disagree about how long the phenomenon can last. While some point to double-digit percentage price gains in the multi-million-dollar apartment market, others say the reporting lag time is distorting those increases — and predict that the credit crunch will put the brakes on the activity, if it hasn’t already. So the question remains: Will the luxury market take a hit anytime soon? 

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