Beware The Premium Decay In New York City New Development Buildings

When it comes to the Manhattan real estate market, new development condos have traditionally traded at a premium compared to resale buildings. These new condos offer modern amenities, state-of-the-art features, and contemporary designs that cater to buyers seeking a luxurious and convenient lifestyle. However, as buildings age, an interesting phenomenon called “premium decay” emerges, highlighting the diminishing premium associated with aging new development properties as compared to resale ones. In this article, we will delve into the reasons behind this decay and its implications for buyers and sellers in the market.

Why This is Important