Manhattan apartment deals plunged more than 80% in May compared with a year ago, according to a new report.
Key Points
The high end is getting hit hardest. Contracts for apartments priced at more than $5 million slumped by 90%. "I think this could accelerate the thought process for people thinking of moving to Florida or other states already," said Jonathan Miller, CEO of real estate appraiser Miller Samuel. "And you might have people considering living in Florida and working in New York just a couple of times a month."
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