Another Sign Manhattan Real Estate Is Feeling the Pain

  • Price cuts, gift cards, penthouse parties among sales tactics
  • Time is the enemy in sputtering market, broker Teplitzky says

Prospective buyers at one Upper East Side condo project are quietly being offered a 5 percent discount. At an almost-completed Midtown building, five-bedroom homes will be divided into smaller units. Brokers whose clients sign deals at a downtown tower before Labor Day are getting $5,000 gift cards.

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