The Wall Street Journal · November 29, 2018 · by Candace Taylor and Katherine Clarke

New York's Wealthiest Cut Losses as Manhattan Real Estate Falters

Ann Cutbill Lenane is quoted as a market expert.

The Journal examines how wealthy Manhattan sellers are adjusting to falling prices after a decade-long boom, citing oversupply of new condos, fewer foreign buyers, tax-law changes, rising rates and a shift downtown. Examples include an actor whose Upper West Side townhouse ask fell from about $12 million hopes to roughly $5.5 million, and a Park Avenue duplex sold well below its 2008 price. Ann is quoted comparing the easy market of two years earlier.

“We were like Vanna White pointing at the letters and they magically turned over.”

Ann Cutbill Lenane, in The Wall Street Journal

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