It looks like year-on-year, Sept 2017-Sept 2018.
The point is that there are only so many buyers for $10-million condos in NYC (or really anywhere) over the next 48 months, but the developers keep putting up these ultra-luxury towers with units that start at $4-million (not a lot of people can afford those, either).
It’s a high-end microcosm of the larger problem with real estate in Manhattan, Brooklyn and parts of Queens, which is now focused on building a lot of pricey rental and condo units for a dwindling number of potential renters and tenants who can afford them.
