Manhattan nabes see sizable price cuts

About 33 percent of the properties listed for sale in Manhattan saw
price cuts in the fourth quarter, according to Streeteasy.com. The
Manhattan neighborhoods that saw the most price cuts were Beekman (a
section in Midtown East), where 50.6 percent of the listings saw price
cuts; Manhattan Valley (part of the Upper West Side), with price cuts
in 45.7 percent of listings; and the East Village, where 43.1 percent
of the listings fell in price. The neighborhoods with the biggest price
drops, however, were Midtown West, with an average price drop of 10.93
percent; Tribeca, which saw an average of 10.83 percent in price
cuts; and Flatiron, which had an average price decline of 10.35 percent.