[Three Cents Worth NY #201] Peeling Manhattan to Its Re-Sale Core

Posted by Jonathan Miller - Monday, August 20, 2012, 10:11 PM

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world. And I’m simply here to take measurements.

Read last week’s 3CW post (ok, ok I’m a slacker) on @CurbedNY:

…One of my preferred ways to understand trends of a housing market is to remove new development from the picture. I see it as turning off your smartphone so you can concentrate, er, checking my messages, hang on, ok I’m back. New development sales trends are subject to the mix of what was recently constructed and closings are randomly dependent on when construction is completed. In markets like Manhattan, they can really skew the overall stats (think a few years back with the havoc caused by high-end closings at The Plaza and 15 CPW)…

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