Notable Price Reductions
A: Another week, another set of some notable price reductions to bring to you. Not much to choose from this week as a lot of the price cuts still didn't present deals worthy of attention. However, here is the pick of the litter in my opinion should any be in your target neighborhood and price range.
STUDIO PRICE REDUCTIONS
60 East 9th Street; Apt. 330
Size: 460 SFT
# Beds: 0
# Baths: 1
maintenance: $448 (Below $1/sft!)
Asking: $330,000 (Reduced From $380,000)
Price Per Sq. Ft.: $717
Marketed By: Dee Simonson & Mary Anne Cotter of Corcoran
1BR PRICE REDUCTIONS
301 East 22nd Street; Apt. 8R
Size: 750 SFT
# Beds: 1
# Baths: 1
maintenance: $883
Asking: $549,000 (Reduced Three Times From $640,000)
Price Per Sq. Ft.: $732
Marketed By: John F. Benetos of Elliman
330 Third Avenue; Apt. 4B
Size: 750 SFT
# Beds: 1
# Baths: 1
maintenance: $776
Asking: $549,000 (Reduced From $565,000)
Price Per Sq. Ft.: $732
Marketed By: John Fisher & Larry Brookner of Elliman
Posted by Matt
Wed Aug 9th, 2006 08:21 PM
Seeing these price reductions made me think about why new condos don't seem to adjust to the new market. see: http://www.thedevelopersgroup.com/buildings/building.aspx?buildingid=1056&
Maybe it's just me, I don't understand, these places have been on sale all summer long and I haven't seen any contracts being offered. $600,000 for a 2 bedroom place in Long Island City. And this particular area isn't very nice. It's almost all warehouses and a Scandals strip club.