Manhattan Apartment 4Q Sales Reach 25-Year Highs

Law360, New York (January 3, 2014, 5:28 PM EST) -- Manhattan apartment sales during the fourth quarter reached the highest levels in at least 25 years, according to an industry report.

The fourth-quarter report released by Douglas Elliman Real Estate showed the New York City borough had record fourth-quarter sales, record low inventory and record high for condo prices. There were 3,297 sales of condos and co-ops during the fourth quarter, representing a 27 percent increase over the previous year and even higher than the spring quarter numbers despite the fourth quarter traditionally being the weakest...
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