Data confirms: “Mamdani effect” never reached NYC luxury market
When New York’s luxury market continued to swell in the wake of Zohran Mamdani’s election in November, there were questions floating around about what was driving all those expensive deals. Was it the wealthy doubling down on the financial and nightlife capital of the country? Or was it anxiety-ridden rich folks selling their homes at a discount to flee the city? Based on data from real estate analytics firm UrbanDigs, it appears to be a surge of buyers casting bids of confidence in the market. In the luxury market, defined as homes asking at least $4 million, contracts rose over […]
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