| There has been little doubt recently that
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| | have experienced a significant condo
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| the Manhattan real estate market has been
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| | glut, building in New York City has been
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| slowing down recently. Inventory is up,
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| | significant but moderate in pace.
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| and sales are down. While average prices
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| | This fact is particularly apparent when
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| have remained strong, it is clear that
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| | one looks at where many of the sales have
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| the days of the superman-like
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| | come from in recent months. While sales
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| invulnerability in the market is a thing
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| | of units in middle-aged buildings �
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| of the past.
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| | built after World War II, but not in the
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| If a year of horrid national economic
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| | recent past � have declined
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| news has finally proved to be the
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| | significantly, many of the high profile
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| market's kryptonite, though, there has
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| | new units have been moving at a brisk
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| been no lack of Louis Lanes as of late,
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| | pace.
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| pulling our fabled hero to areas of
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| | The Superior Ink units close to the water
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| safety and respite, to suffer little harm
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| | are perhaps a prime example. The sales
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| as the danger slowly passes.
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| | numbers from this large collection of new
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| While many in the industry were expecting
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| | luxury apartments has displayed the
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| a sharply negative turn this summer, many
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| | strength of both the super-high end
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| real estate agents have reported
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| | luxury market and the market for new
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| experiencing, if not a record summer, a
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| | condominiums.
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| stronger-than-expected season.
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| | The super-high end has been particularly
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| The weak dollar has greatly aided the
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| | strong as of late. Indeed, Superior Ink
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| market, as otherwise bored and possibly
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| | was supposed to be 68 different units,
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| unemployed real estate agents in the city
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| | but may end up being just shy of fifty
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| have found themselves with ample
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| | units, after wealthy buyers combine
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| interest from holders of euros and the
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| | units.
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| British Pound.
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| | The city is also leading the way with a
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| Indeed, the luxury market as a whole has
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| | number of luxury green apartments near
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| continued to expand, even as its largest
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| | completion; a set of buildings that will
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| source of demand � the New York City
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| | experience their own unique source of
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| financial industry � has taken a
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| | demand from buyers, and should help prop
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| serious hit in the form of a global
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| | up future numbers somewhat.
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| credit crunch and the closing of Bear
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| | While no one is saying the city's market
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| Stearns. The dollar has played a huge
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| | is experiencing its best days, there is a
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| role in this, as has the surprising
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| | consensus that if this is the worst there
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| resilience of domestic demand for New
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| | is, then the market will experience a
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| York City's apartments.
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| | recovery from the recent negativity with
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| Supply, too, has helped considerably.
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| | perhaps record speed.
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| Unlike most major American cities, which
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