New York Gov. Certainly Doing His Part to Crush New York’s Economy

Looks Like He Has Succeeded… Marked by strict lockdowns, the halt of economic activity and the loss and suffering brought on by COVID-19, New York City’s real estate market was bound to present a decidedly different picture in the second quarter both year-over-year (Y-o-Y) and quarter-over-quarter (Q-o-Q). First, it’s important to note that, during the last quarter, a record 44 NYC neighborhoods closed fewer than five deals — a metric we consider to be the lowest minimum threshold for calculating a neighborhood’s median sale price. As a result, these neighborhoods are not represented in our findings. In total, we analyzed the second quarter’s median sale price and sales activity changes in 157 NYC neighborhoods. Next, the most notable change was brought on by Brooklyn, which — for the first time ever — had more neighborhoods among the city’s most expensive than Manhattan.…

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