Kirk Henckels, who handles the high-end property division at Stribling & Associates, said that for a long time, the luxury market was supporting Manhattan real estate, but now the low end is seeing more buyers. Sales under $5 million are continuing, but at higher price points, there have been so few sales that no one can gauge the loss in apartment and townhouse values, Henckels said. Brokers said only a handful of deals above $8 million have gone into contract since October, and most of the closings in that price range have been for properties that went to contract earlier in the year.
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