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New York's luxury real estate market shows signs of slowdown

November 05, 2019 / Minyoung Park

Following a rapid expansion of luxury housing in New York City in recent years as developers took advantage of low interest rates, sales of high-end units have begun to slow, worrying stakeholders and raising concern over the health of the economy. In a coveted area along the southern end of the city's Central Park, a number of ultra-luxury buildings have sprung up or are under construction, including the 1,550-foot Central Park Tower, billed as the world's tallest residential skyscraper.