The New York residential market, which most termed bulletproof during the general housing downturn, has finally started to slip, with sales volume down by as much as 75% in some neighborhoods, according to Miller Samuel, a Manhattan-based appraisal firm. According to Cushman Wakefield, a New York-based commercial real estate firm, prices have started to slip in even premium areas like 57th Street or Soho, though this hasn’t yet appeared in quarterly reports.

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