In the heart of Manhattan, Trump Tower apartment owners are slashing prices amid a broader cooling in New York City's real estate market. Eight of 13 million-dollar listings have seen reductions, signaling a shift in the high-end property market where price resilience has traditionally been the norm. In a challenging real estate environment, Trump Tower may be an example of New York City's fluctuating housing dynamics.
Owners in the building are cutting prices on a range of apartments, with decreases up to 9.2 percent, reflecting broader market pressures and possibly a shift in luxury real estate's perceived value. The trend comes against a backdrop of a slightly recovering citywide median sales price and an inventory at its lowest in seven years, according to a report issued in March by the New York City Comptroller. Shifts in prices at the 58-story tower in the Midtown East neighborhood of Manhattan offer a granular view of the city's market dynamics
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Source: Newsweek - 🏆 468. / 52 Read more »