Luxury sales fell 45 percent in first quarter

Luxury sales in Manhattan
fell 45 percent during the first quarter compared to the same time
last year, according to Streeteasy.com, which defined the luxury market
as apartments that sold for $3.15 million or more. There were 143
luxury sales in Manhattan, Streeteasy.com reported, of which 36 were
condo resales, 19 were co-op resales and 88 were new development condo
sales. Luxury sales fell in each neighborhood, except the Upper East
Side, where new development luxury sales increased by 278 percent.