Price Cuts: Owner Chops Price By $1,000
A: Lets go back into the world of price cuts and see how some Manhattan real estate prices have fared in the past week or so. Here are some of the notable ones including one apartment being sold by the owner whose price was reduced by $1,000! A great example why owners shouldn't handle their own sale unless they know what they are doing; I mean what is a price cut of $1,000 suppose to accomplish?
PRICE CHANGES IN PAST 7 DAYS: 99 (of which 80 or so are price reductions)
200 East 74th Street: Apt. 15B
Price: $850,000
Reduced From: $899,000 to $850,000
Size: 1,200 SFT
maintenance: $1,746
PPSF: $708
Marketed By: Lynn Kellert of Corcoran
333 East 34th: Apt. 10K
Price: $859,000
Reduced From: $895,000 to $859,000
Size: 895 SFT
maintenance: $554
RE Taxes: $486
PPSF: $960
Marketed By: Daniela Kunen of Douglas Elliman
And the owner who just don't know! There is no website for this listing because it is being sold as a FSBO, but check out the price history of the listing as well as the most recent price cut. Man, somebody help this owner!
345 E 74th Street: Apt. 11B
Price: $743,000
Reduced From: $744,000 to $743,000 (originally priced at $744,000 on 10/25/2006, reduced to $699,000 later that same day, then upped back to $744,000 on 11/6/2006. Reduced by a mere $1,000 on 11/16/2006)
Size: 950 SFT
maintenance: $1,110
PPSF: $782
Marketed By: For Sale By Owner - Contact me for details.
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