The Real Deal New York

Editor’s note: A holiday with less cheer

By Stuart Elliott | December 01, 2015 04:40PM

From the December issue: It’s a lump of coal in brokers’ holiday stockings.

Real estate pros are more uniformly sounding the alarm that the Manhattan residential market has slowed down, and not just for über-luxe trophy apartments.

The traditional post-Labor Day uptick never materialized, leading to more price reductions. That means brokers might find a smaller commission check under the tree this year — or no check at all.

But the question of how the market is performing at this important inflection point still depends on which segment you’re talking about. That’s why our reporter E.B. Solomont took an in-depth look at several key price ranges in the Manhattan market. [more]