The Real Deal New York

Lenz says NYC buyers in $3M range have the most power: video

January 10, 2012 06:00PM

Prudential Douglas Elliman’s Dolly Lenz talks New York City luxury real estate, telling Bloomberg Television, “the buyer has the most power in the $3 million range,” if they can get a mortgage (see video here). “If they are ready to jump, they are gonna get a deal,” in the current market, the vice chairman said. She also explains why the residential market doesn’t seem to be moving — a bunch of new development hit in the third quarter, making fourth-quarter sales look comparably sluggish — and why prices won’t be lagging, even if sales do, anytime soon — “there’s no place else to put [your] money!”