Sales of such properties costing $5 million or more fell 31% in the first half of the year, pushing sellers to cut asking prices
Sales of the most expensive New York apartments fell sharply in the first half of the year, but many sellers have adjusted by cutting asking prices to make deals, brokers said.
“This is simply a market that is adjusting itself to chronic overpricing relative to buyers’ perception of value,” said Kirk Henckels, a broker and vice chairman of Stribling & Associates, a New York-based brokerage.
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