The Manhattan housing market showed more
signs of easing in the final quarter of 2016,
capping off a lackluster year relative to the frenzy
of the prior several years. Legacy contracts,
new development sales signed a few years
ago that recently closed when their respective
projects were completed, continued to push
prices higher than conditions reflected. Overall
average sales price increased 7.7% to a 27-year
record of $2,098,459 largely skewed by those
legacy contracts within the new development
market…