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Manhattan New Development: Small Share, But Rising Sharply

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I took a look at the change in new development inventory versus re-sale inventory both by year-over-year change (quite dramatic) and number of units.  Both categories bottomed out at the end of 2013.

These trends are based on Manhattan co-ops and condos which represent more than 98% of the “non-rental” market. ┬áMuch of the new inventory coming online is located within the “luxury” market which is the top 10% based on price.