Posted by Leonard Steinberg on January 28th, 2013

Have you ever seen the droves of people lined up to buy one of those horrifically sugary cupcakes at Magnolia Bakery? Well, a similar phenomena is happening in Manhattan at open houses where the volume of buyers is truly remarkable at all price points. Over 70 buyers showed up yesterday to an open house we had on 16th Street just off 5th Avenue…..asking close to $ 2million. The SELLER’S MARKET has officially arrived, and the evidence is solid. This is the new normal….for now.