At least twice as many new condominium units are scheduled to hit the Manhattan market this year as in 2014, the most since 2007. That means more choice for buyers and some welcome competition among developers.
The influx comes after a five-year shortage, when new condo buildings practically had the market to themselves, allowing developers to push prices ever higher. The oncoming wave of new development in 2015, some real estate watchers predict, will temper that price growth and slow the pace of sales, providing some relief to Manhattan buyers.
