Around 25% of units in Manhattan’s One57 luxury tower block have yet to be sold, three years after being offered to the market.
One apartment was sold in the third quarter, bringing the number of sales this year to just three.
The disappointing figures come against a backdrop of increasing competition in the sector. September data from appraiser Miller Samuel Inc. show the number of luxury homes on the market at newly developed properties in Manhattan had more than doubled from the prior year.
