MANHATTAN CONDO VALUES FELL OVER THE PAST DECADE. HERE'S WHY RENTS ARE STILL RISING
https://image.cnbcfm.com/api/v1/image/108103664-1739899132375-gettyimages-2199729705-20090101250218-99-958263.jpeg?v=1764020845&w=1920&h=1080
✍️ According to Brown Harris Stevens, 1 in 3 condos sold in Manhattan sold at a loss from July 2024 to July 2025, due to high selling fees and tax rates.
👉 1 in 3 condos sold in Manhattan sold at a loss from July 2024 to July 2025 👉 High selling fees and tax rates contribute to losses 👉 Property values have declined over the past decade 👉 Experts point to Fed's tightening of the U.S. economy, dearth of foreign buyers, and shifts in foreign exchange rates 👉 First-time buyers are being shut out of the high-end market 👉 Wealthy New Yorkers are choosing to rent due to high mortgage payments
-- #JonathanMiller #BessFreedman #PierreDebbas #ZohranMamdani #RobertFrank #Manhattan #NewYorkCity #realestate
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