The penthouse pileup: Inventory swells thanks to the new dev glut

Penthouse listings — despite their catchet — aren’t immune to the new development glut. A flurry of post-Labor Day listings has brought the total number of penthouses on the market to 443. That’s a 19 percent uptick in the number of listings between September and March and a 16 percent year-over-year increase, according to data compiled by StreetEasy. Luxury inventory generally increases in the fall, as many units are taken off the market during the […]

Read Full Article >> https://therealdeal.com/2018/10/12/the-penthouse-pileup-inventory-swells-thanks-to-the-new-dev-glut/