Manhattan Builder Rushing to Sell Condos at Less Than $3 Million

Furniture sits in the living room of a model apartment at Magnum Real Estate Group LLC's new condominium tower at 389 East 89th Street in New York, U.S., on Monday, Feb. 1, 2016. At the Upper East Side property, where marketing started last week, two-bedroom apartments start at $1.58 million for a unit with 1,098 square feet (102 square meters), according to documents filed with the New York State attorney generals office. While those sums would buy mansions in most of America, theyre a relative bargain in luxury-saturated Manhattan, where the median sale price of a newly built apartment was a record $2.06 million in the fourth quarter, according to a report by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Photographer: Michael Nagle/Bloomberg via Getty Images
Furniture sits in the living room of a model apartment at Magnum Real Estate Group LLC's new condominium tower at 389 East 89th Street in New York, U.S., on Monday, Feb. 1, 2016. At the Upper East Side property, where marketing started last week, two-bedroom apartments start at $1.58 million for a unit with 1,098 square feet (102 square meters), according to documents filed with the New York State attorney generals office. While those sums would buy mansions in most of America, theyre a relative bargain in luxury-saturated Manhattan, where the median sale price of a newly built apartment was a record $2.06 million in the fourth quarter, according to a report by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Photographer: Michael Nagle/Bloomberg via Getty Images
Manhattan Builder Rushing to Sell Condos at Less Than $3 Million
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February 01, 2016
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MANHATTAN CONDO RUSH
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