While public outrage looms over Wall Street’s 2009 bonuses, potentially record payouts expected in coming weeks, New York’s real-estate community is outright giddy. Local brokers said the money will help stabilize the nation’s quirkiest sales market by boosting sales, particularly in the $2 million to $5 million range, and restoring confidence.”There’s a happier feeling,” said Paul Purcell, co-founder of Charles Rutenberg Realty. “Our leading indicator is the Street. … We’re grabbing on to anything that is a positive.”Statistics on residential sales in January and February won’t be available for months, but anecdotal evidence supports the view that workers on Wall Street are window shopping. Brokers said that visits to their Web sites have increased and foot traffic is rising at open houses. Appointments, which show more serious interest, particularly during the recent cold snap, also are up.
By Dawn Wotapka, Jan. 13, 2010 NYT

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