Summary of the New York Times article that reports one in four luxury new apartments in Manhattan are unsold. This amounts to about 4,000 units out of the 16,000 new condo units built since 2013. The major oversupply areas are Billionaire's Row and Hudson Yards.
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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