High-end market faces mixed signals

June 09, 2008 09:11AM

Preliminary data for sales in May shows that the number of homes sold for above $4 million was 52, the highest ever recorded, as brokers said demand was strong for unusual and expensive trophy properties. But at elite condo buildings like the Time Warner Center, 15 Central Park West and 40 Bond Street in Noho, condo owners have dropped their asking prices on re-sales. Sellers at 40 Bond have been competing with unsold units; the last unsold unit is a one-bedroom. Brokers said that despite concerns over the market and tighter credit standards, some properties are still setting off bidding wars among qualified buyers. 

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