Manhattan property decline worsened as Wall Street boomed

Average prices of Manhattan co-ops and condos fell to $1.8m in the fourth quarter, according to Douglas Elliman, the largest real estate brokerage in the New York City area. The price per square foot — a key metric — declined 6.1 per cent to $1,581, and the number of sales dropped 1.2 per cent, the brokerage said.