Friday, October 12, 2007

Second Home Slump? Not in NYC

While formerly hot second home markets like Miami Beach, Las Vegas and Fort Myers slump, New York City, especially Manhattan, soars. Example: A Time Warner Center 3,000+square foot 65-floor condo, sold by Ricky Martin last year for $9.75 million, is for sale again for almost double: $18.9 million, according to the Wall Street Journal. Pop star paid about $6.8 in 2004 for 7-room pied-a-tierre in the sky.

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