July saw a massive jump in housing sales everywhere except Manhattan. Westchester County, Long Island, Brooklyn and Greenwich, CT, all saw increases in sales, some as high as double the usual rate. Pending deals in Manhattan fell by 47% in the price range of $599k to $999k and there were no sales of $20 million or above. All of this illustrates the uncertainty of the Manhattan market. Many listings were removed as well, as sellers try to wait for a better time.
Now is the time to get the ball rolling, especially as an office tenant. Contact GE Grace to learn how you can leverage these unfortunate times to protect your business or firm.