Manhattan Luxury Deals Reach New Post-Recession High

Law360, New York (October 1, 2013, 6:37 PM EDT) -- More than 1,000 contracts for New York City residential properties priced above $4 million have been signed so far this year, the most since 2007 and a whopping 79 percent higher than 2012's year-to-date total, according to a recent report by Olshan Realty Inc.

The 1,020 contracts, totaling $8 billion, are the latest tally of skyrocketing residential real estate prices in post-recession Manhattan, where the new average home price is $1.14 million and sales volume has increased 43.3 percent over the last quarter, according to recent...
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