Despite volatile stocks and slowing growth overseas, NYC's real estate market saw a spectacular Q4, with both peak prices crushing pre-recession levels.
The boom was bolstered by the city's high-end multifamily market, itself booming from the huge influx of capital from foreign investors. In our Video of the Day, CNBC's Squawk Box breaks down the boom.
"The (Manhattan) market continues to be a safe haven," Jonathan Miller, president of Miller Samuel, an appraisal firm, tells CNBC. "The volatility and government intervention in China will just incentivize more outflows." [CNBC]
