Manhattan’s financial zone apartments languishing

Whether in converted Art Deco office buildings or new glass towers, units are spending more time on the market and often selling below asking prices.

NEW YORK: Apartments in Manhattan’s Financial District aren’t exactly trading like blue chips on the nearby New York Stock Exchange.

Whether in converted Art Deco office buildings or new glass towers, units are spending more time on the market and often selling below asking prices. After a spurt of construction aimed at foreign buyers, whose numbers are dwindling, and finance workers, who have seen many of their jobs move uptown, the area is plagued by oversupply.