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FiDi Cools Off

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In a rundown of luxury 'hoods (Soho, Tribeca, etc.), Bloomberg reports that the Financial District has been the hardest hit: "The Financial District suffered the deepest price cuts in Manhattan in the first quarter as securities firms shed more than 180,000 jobs in the Americas...Sellers lowered prices on almost a third of condo or co-op listings by an average of 11 percent in the Financial District, according to Streeteasy." Why isn't FiDi holding up? Says a real estate consultant, "That area was less about infrastructure and was more like, 'Don't you want to live in this cool building because it has a cool name?'" [Bloomberg]