Not all doom and gloom for NYC real estate industry

December 04, 2008 11:07AM

Even in the face of gloomy market predictions, not everyone in real
estate is nervous. Dolly Lenz, a Prudential Douglas Elliman vice
chairman, said she is still selling units, including a recent sale for
just under $40 million. Melissa Cohn, president of Manhattan Mortgage,
said lower mortgage rates will help the market. The fact that there
isn’t much new inventory could even lead to a housing crisis in a few
years, once demand for apartments goes back up, said Shaun Osher, CEO
of Core Group Marketing.

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