New York's Low Bonuses May Signal Lower Condo Prices

New York's Low Bonuses May Signal Lower Condo Prices
A down year for Wall Street bonus checks will likely be a blow to the Big Apple's luxury real estate market (Graphic by Bloomberg Businessweek; Data: Miller Samuel, New York State Comptroller)
Graphic by Bloomberg Businessweek; Data: Miller Samuel, New York State Comptroller

Smaller bonus checks across Wall Street are a sign that New York City luxury real-estate prices may be on their way down. The average price for a luxury co-op or condo fell to $5.49 million in 2011 from a 2008 peak of $6.33 million.

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