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New York City’s Luxury Real Estate Market Was Battered in 2019


Photographer: Christine Wehrmeier/Moment Open via Getty Images

It was a rough year for New York’s luxury real estate market.

Contracts signed for homes in Manhattan priced at $4 million or more fell 16% in 2019, with the total value of those deals sliding to $7.65 billion, the lowest level since 2012, according to a report by luxury brokerage Olshan Realty Inc.