Land sales in Manhattan ground to a halt last year with just under $3 billion worth of transactions in 2016, down 74 percent from the previous year. Cushman & Wakefield data show the number of transactions fell off by nearly 40 percent. Banks have become wary about financing land acquisitions and construction amid concerns about an oversupply of residential units in the borough, especially for high-end luxury condominiums. One thing Cushman’s data, which was cited … [more]