Condo market strong in Manhattan, slow in outer boroughs

A divide between the Manhattan condo market and the rest of the boroughs has begun to grow. As sales in Manhattan remain strong, the outer boroughs are seeing a slowdown, especially in high-end developments meant to compete with Manhattan condos. The increased difficulty that buyers face in obtaining mortgages and a rapidly growing supply of condo developments are getting blamed for the slowdown. That is forcing developers in the outer boroughs to convert condo developments into rentals and provide incentives to buyers.