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Luxury Market Dominated by Few | Real Estate News
Manhattan’s luxury real estate is being hijacked by a handful of mega-developments—35 Hudson Yards alone snagged 86% of luxury deals in its zone, while the Flatiron conversion grabbed 72%. These towers aren’t just selling units; they’re doubling prices and reshaping entire neighborhoods. With the pipeline of new projects drying up, competition is shrinking and power is consolidating. Meanwhile, Capitol Hill’s Judiciary Subcommittee is summoning Compass and Midwest Real Estate Data to explain a secret listing deal that could be anti-competitive—deadline: August 5th. Listen in comfort:Get a…
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