Like condo projects everywhere, Midtown has experienced a sharp decline in values.
"Our results for the fourth quarter reflect extraordinarily difficult operating conditions, including a sharp decline in values across virtually every asset class," Lloyd C. Blankfein, Goldman's chief executive, said in a statement.
"Our results for the fourth quarter reflect extraordinarily difficult operating conditions, including a sharp decline in values across virtually every asset class," said Chairman Lloyd C. Blankfein.
Compounding South Korea's problems is a sharp decline in the value of its currency, the won.
The improved offer came after a sharp decline in the value of the pound since Britain's vote to leave the European Union in late June.
Chinese finance officials feared that any significant movement away from U.S. dollar assets could trigger a sharp decline in the value of those assets.
However, it would be surprising if this growth were maintained in view of Second Life's managerial problems and a sharp decline in the value of land within the virtual world.
Addressing the wider economic impact of Brexit, Davies predicted a further rise in inflation, which hit 1% last month, after the referendum sparked a sharp decline in the value of sterling.
A sharp decline in the value of Russia's ruble since early September is rippling across Central Asia, where economies are dependent on transfers from workers in Russia, and on imports too.
The South African financial services company Old Mutual said its profit fell sharply last year, hurt by falling stock markets and a sharp decline in the value of the South African rand.
