Manhattan real estate gets hammered

• The number of signed contracts for co-ops and condos in Manhattan dropped 57% in July compared with a year ago, according to a report from Miller Samuel and Douglas Elliman.
• The high-end of the market is getting especially hard hit, with co-ops priced at $4 million to $10 million down over 75%.
• The number of unsold apartments is now at the highest level in almost a decade, according to Jonathan Miller, CEO of Miller Samuel.

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