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New York

Dissecting NYC’s luxury market

A breakdown of the future of Manhattan’s high-end residential sales, which is already showing some cracks

From the September issue: New York City’s luxury residential market has, for the last few years, been firing on all cylinders. But there may be cracks in the veneer.

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Top brokers said they’re seeing some skittishness and price sensitivity at the highest reaches of the city’s residential market. And frenetic building in certain pockets of the city (most notably the Midtown corridor and the neighborhood surrounding the High Line) has some brokers concerned that developers could overload the market with luxury condo projects. [more]