Journalist + Content Writer
The New York City real estate market is expected to take a hit as the result of ambitious legislation designed to push back against climate change, which includes requiring the owners of residential and commercial buildings to cut energy usage and carbon emissions or face significant fines.
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With the Manhattan real estate market cooling off — the median sale price recently fell below $1 million for the first time in three years — luxury developers are turning to the outer boroughs, creating towers and boutique buildings with big-name architects and the kind of outsized amenities usually found in Soho or Tribeca.
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