Ron Insana at CNBC looks at this pricey residential structure as the canary in the real estate coal mine.
The tallest residential structure in the Western Hemisphere sits at 432 Park Avenue in New York City.Standing at nearly 1,400 feet, there are 141 apartments for sale in a building where there average selling price is $21 million, ten times the price of an “average” Manhattan apartment!But here’s the thing, despite all the amenities, the views and the allure this building may have, the super rich do not appear to be knocking down any doors to get in.
Read Full Story: This real estate market is about to crash-—commentary
