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Price cuts spur deals as glut of luxury homes lingers

9 days ago   |   By The Real Deal New York

New York's real estate market had a rough year in 2020 and price cuts portend a tumultuous 2021. January rents were down 15.5 percent in Manhattan and off 8.6 percent in Brooklyn from the same month last year, according to StreetEasy, Bloomberg News reported. Home prices also were lower by 6.2 percent in Manhattan and 5.4 percent in Brooklyn. The price cuts appear to have triggered more deals. Pending sales, or sales under contract, increased
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