IS $ 2,500/sf THE NEW $ 2,000/sf?

Posted by Leonard Steinberg on April 16th, 2013

Is Manhattan luxury real estate experiencing hyper-inflation? It appears so. Whereas 4 months ago every developer (and their bankers) was talking about $ 2,000/sf for the entry level to the downtown luxury new development market, now it appears, just a few months later, that this figure has jumped significantly…..by as much as 25%? ┬áIs this a brief moment or a continued trend? With the depth of the buyer pool, I think this new normal could be here to stay….