Deep Discounts On NYC Luxury Real Estate As The Mass Exodus Of The Wealthy Begins To Take It's Toll

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A prime example of this is the pending deal at 551 W. 21st St., where two units listed for a combined $26 million found a buyer after a couple of years on and off the market, according to Bloomberg, who cited data from brokerage Olshan Realty. The owner initially acquired the property in 2016 for $31.3 million and then attempted to flip it for $40 million the following year With no success, the owner is expected to realize a 17% loss on the properties once the transaction is completed. This comes at a time when housing prices have been soaring and heating up all over the country. Something about this specific location seems a bit sluggish if you ask me.
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https://www.youtube.com/watch?v=MEC6MvV2-MI