First-Time Buyers Officially Ascendant in Grim Manhattan Market; Luxury Takes a Holiday

According to several first-quarter Manhattan housing reports released today - including ones from the Corcoran Group and Property Shark (PDF); Prudential Douglas Elliman and Miller Samuel; Brown Harris Stevens and Halstead Property; and StreetEasy -  condo and co-op sales have fallen precipitously from last year. Corcoran estimates that sales have fallen by 52 percent and Douglas Elliman reports a 47.6 percent fall, for instance.

Either way, you get the picture and it is not...

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