![]() ![]() “When the market slowed, it brought buyers out– and interest rates are low. “There is a bit of a glut in terms of rentals but sales are good,” Benaim said. Activity has picked right up.”īenaim said that reports of a glut in the condo market are exaggerated. “We were averaging 11 or 12 a month prior to COVID,” Benaim said. The decline was significant, compared to activity pre-COVID-19. Last summer, shortly after the full COVID-19 lock down lifted, the number of units sold was down to three or four per month, he said. More than 325 units in the 802-unit development have now sold, according to Eric Benaim, the CEO and founder of Modern Spaces, whose firm was appointed to market the project in 2018.īenaim said that since October about eight or nine condos have sold each month. Sales activity is picking up for condo units at the 67-story Skyline Tower in Court Square, according to the CEO of a Long Island City-based brokerage firm. ![]()
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