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Ranking new condos by per-square-foot prices

In Brooklyn, the inventory shortage of for-sale product is reaching a crisis point, because developers there are building rentals in disproportionately higher numbers since the crash. Only 2,000 new condo units combined are slated to hit the market in the next three years in Brooklyn, according to Corcoran Sunshine’s data, compared with 20,000 new rental units. “All of Manhattan and Brooklyn are in need of product right now,” said Kelly Kennedy Mack, president of Corcoran Sunshine. “The most significant need is for residences below $5 million, as listings in this category have dropped by 24 percent in the past year alone.”

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