Is there a NYC Real Estate Bubble?
Manhattan real estate prices for coops and condos show no sign of a bubble. While higher end properties in the 7 million-plus categories seem to have stabilized, there are still bidding ward going on for desirable properties in NYC. When a broker represents the seller, the likelihood of a bidding war escalates as the brokerage community is much more inclined to show an apartment for which a co-brokered commission is secure.