Publication:  TheStreet.com

Summary:  Write up about Manhattan property prices in 1Q, 2010

Excerpt:

Manhattan, New York apartment reports for first quarter 2010 are out. As I’ve predicted since four months ago, the reports show that prices declined while sales jumped.

I’ve said that the real time market bottom for Manhattan apartments was the fourth quarter of 2009. This means that when the first quarter of 2010 reports released by the city’s major brokerages come out, they would show a price decline. This is because the first quarter report reflects prices agreed upon in the fourth quarter of 2009.