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New development deals roar back to life in August

Source: The Real Deal

The new development market has roared back to life since suffering its worst month of the year in July, according to a report from Marketproof. New developments notched 259 signed contracts last month for apartments asking a combined $527 million. The median unit price fell 12 percent to $1.45 million, as outer-borough deals made up a bigger piece of the action. All told, contract activity jumped 35 percent month-over-month and aggregate dollar volume increased 17

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