It's the land, Scarlett....

 

"Real Estate is always good, as far as I'm concerned."

 --Donald Trump

 

While many of us are focused on the upcoming mid-term elections a lot has been going on in real estate. There has been a plethora of new construction in Tribeca and SoHo and rentals are starting to decline. Current prices for units that are coming on the market, both Downtown rents and sales of Condos, are dropping. 

The new "Piano Building," the twin 30 story condo towers that are finally coming to completion after rattling neighbors with six and seven day a week construction for two years -- are expected to be adversely affected. And, rental buildings like the prehistoric and environmentally-challenged 80 Varick Street, may be experiencing some surprises. Prices may soon start to tank.

On the Upper East Side a number of mega-buildings, in addition to 432 Park Avenue, are also coming on line just as demand dries up. The attached article may of interest if you're thinking of moving or getting out your checkbook right now.

 

To Read More Information: https://www.mansionglobal.com/articles/nyc-s-lackluster-year-for-luxury-condos-drag-sales-down-across-city-105604

 

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