Manhattan Apartment Sales Slow as Buyers See No Need to Rush

Manhattan apartment sales and prices fell in the second quarter from a year earlier, as the absence of a federal tax credit created less urgency to complete deals.

Purchases of condominiums and co-ops declined 3.8 percent from a year earlier to 2,650, New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today. The median price of co-ops and condos that changed hands in the borough dropped 5.5 percent to $850,000.