That does seem to be the case, per New York magazine, whose “Optimism Index” chronicles co-ops’ asking prices, today and yesteryear. “Co-ops’ asking prices are down slightly, too, but the drops are generally a little smaller than among condos. Possible reasons? Co-ops tend to be less leveraged and less liquid. The only marked decrease is in Upper Manhattan, where asking prices fell 6.31 percent.” In fact, they’ve only covered Manhattan co-ops in this piece. Do you think it’s the same story in Brooklyn — dropping, but not as far or fast as condos?
The Optimism Index, Part II [NY Mag]
Photo by Lisanne!