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follow Patrick 2018 Mar 28, 5:17pm
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Despite the biggest Wall Street bonuses since the Great Recession, Manhattan recorded a 15% drop in luxury home buying in the first quarter of 2018, according to data on luxury contracts, a disparity that highlights the diminishing weight of bonus season on the city’s housing market.Wall Street bankers and traders just pocketed their biggest bonuses since 2006, with the average payout equaling $184,220, the New York State comptroller announced Tuesday. But Manhattan’s property brokers are still waiting to see those big paydays spill over in the form of home sales.MORE: Harvey Weinstein Sells Manhattan Townhouse for Over $25 MillionBuyers signed contracts for 282 homes priced over $4 million in Manhattan between January and March compared to 330 last year—marking a 15% drop in luxury activity, according to data culled by Olshan Realty.
with the average payout equaling $184,220
That's a crap number!
Manhattan Housing Market Slow Despite Big Wall Street Bonuses