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Lofts Shrinking, But Lifestyle Remains

Lofts in New York City are getting smaller. In the second quarter, lofts sold averaged 1,853 square feet, down from 2,077 square feet in the previous quarter, according to a Douglas Elliman Market Report. But loft sales are still hot. Reports real estate trade mag The Real Deal, "With living in a loft comes a certain kind of New York bragging rights one can't claim, say, while living in an Upper West Side co-op or a Park Slope townhouse." One new hot loft area: Sixth and Seventh Aves in the 20s.
· Lofts Grow Smaller [The Real Deal]