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NYC’s most active developers

Kelly Kennedy Mack, president of the new development marketing firm Corcoran Sunshine, said many developers jumped back into the market in 2013, encouraged by low residential inventory and rising prices. However, she noted, by all jumping in at once, they’re likely contributing to a stabilization of pricing. “Moving forward, the market may be moderated by growing new development inventory, which will increase the number of sales, but could potentially stabilize price growth,” she said. “With the limits of luxury pushing further upward, I believe there is a tremendous opportunity for developers looking to build mid-market luxury buildings in Manhattan,” Mack said.

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