Manhattan real estate may be stabilizing, but Sotomayor’s not selling


Local real estate experts say Manhattan prices may have hit bottom, but Greenwich Village resident Sonia Sotomayor is holding on to her condo anyway.

Sotomayor, who you may have heard recently took a new job out of town, told C-Span in an interview for an upcoming documentary that prices are too low right now for her to think about selling her place on Bedford Street. The disclosure forms she filled out for her Senate confirmation hearings showed that she owes $380k on her mortgage.

Sales of Manhattan apartments are up sharply in the last quarter, driven by a steep drop in prices, but some analysts warn that the expiration of a federal $8k tax credit for first-time buyers and 6,000 new condos which haven’t reached the market yet may continue to depress the price of existing units.