NY Luxury Market Implodes: 36% of Condos Vacant
Key Takeaways Over a third (36%) of luxury condos in Manhattan are currently vacant, signalling deep instability in the high-end property market. Concerns about oversupply persist, even as property prices rise and available inventory decreases. Investor confidence in New York’s luxury real estate sector is at risk, as fears of a prolonged downturn intensify. Shadows Behind the Skyline : What’s Fueling New York’s Luxury Condo Crisis? Manhattan’s skyline hides disaster. The city’s luxury condo sector faces a chilling crisis—36% of high-end units now stand empty, their darkened windows a stark warning to nervous investors. Warnings of a market implosion echo with every unsold property, fuelling panic across the industry. Prices climb, inventory vanishes, yet the specter of oversupply looms ever larger. In this swirling storm of uncertainty , the true scale of risk threatens to shatter confidence in New York’s once-unbreakable prestige. Manhattan’s Luxury Condo Crisis: Myths, ...