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The Luxury Real Estate Market In Downtown Manhattan Is Booming

It's conventional wisdom that "blue chip" apartments surrounding Central Park command the highest prices in New York City, beating out trendier Downtown towers on a price per square foot basis. For the first time in a decade, however, the asking prices for luxury Downtown apartments have outpaced those in Midtown and Uptown, new data show, as developments in Tribeca, Soho and Chelsea demand in excess of $7,000 per square foot.

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