The decline marks a reversal from the upward trajectory Manhattan condo prices have been on since hitting a four-year low of $932.42 per square foot in May 2009. Since then, the city’s condo prices have increased by 12.4% through last November.
“We’ve come back but we’re still less than halfway back to the height of the boom in December 2008,” says Quinn Eddins, Radar Logic’s director of research.
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