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]