Step back off the ledge, gentle apartment owners. Following two months of declines and asinine weblog-fueled panic, Manhattan apartment sales south of 96th Street climbed 18% in October, according to appraisal firm Mitchell, Maxwell & Jackson. Total signed contracts jumped from 438 to 515. Still, that leaves the market 12% below its October 2003 level when 583 apartments changed hands. So, what the hell?go ahead and panic. It's cathartic if nothing else.
· Monthly Purchase and Refinance Volume [MMJ via The Real Deal]