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NYC Real Estate Market Slows As Wall Street Cuts Jobs

New York City Real Estate Market Slows as Wall Street Cuts Jobs by Bloomberg - snips:March 31 (Bloomberg) — New York City’s residential real estate market is showing the first signs of fallout as U.S. banks and securities firms cut the most jobs in seven years. Manhattan apartment sales fell in January and February from a year earlier and new properties came to the market at the fastest pace since at least 2000, according to data from New York-based real estate appraiser Miller Samuel Inc. Transactions slid 6.4 percent to 3,250, while the number of condominiums, co- operatives and townhouses for sale at the end of last month climbed to 6,225, 15 percent more than at the start of the year. Declining sales indicate that the nation’s most expensive urban property market may founder this year as Wall Street retrenches, said Miller Samuel President Jonathan Miller in an interview…
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