Which neighborhoods will take biggest knock?

By Alex Ulam | October 10, 2008 06:46PM

From the October issue: With New York City’s financial sector freefalling, real estate industry insiders are expecting price drops across the board. But certain neighborhoods will probably be hit harder than others by the chaos on Wall Street. Outer-borough neighborhoods and fringe areas in places like upper Manhattan are already feeling softening because of the overall dampened economy. However, the Financial District, the Upper East Side, Midtown and certain suburbs that are popular among Wall Streeters are likely to feel the most impact from the financial service layoffs, brokers said.

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