Browsing Natefind, we noticed that three Bed Stuy townhouses had their asking prices cut last week. (Actually four, if you count the $1,000 trim that this place got to give it the psychologically more appealing price of $699,000.) Some readers may remember we spotted a similar spate of reductions back in June, when Corcoran cut three houses in Bed Stuy and three houses in Crown Heights in one week. Despite eliciting the strange accusations that we had it in for Bed Stuy, the post touched on the kinda obvious idea that when the market gets nervous, it’s the more fringe areas that feel it first. Another explanation was that you had these big firms who didn’t really understand the area marching in there slapping unrealistically high initial asking prices on the houses. In this current batch, two houses are Douglas Elliman listings and one is Corcoran. So, anyway, are these cuts significant or are we reading more into this than there is?
576A Monroe Street [Douglas Elliman] GMAP P*Shark Natefind
456 Bainbridge Street [Douglas Elliman] GMAP P*Shark Natefind
585 Macon Street [Corcoran] GMAP P*Shark
Corco Cutting Prices East of Classon [Brownstoner]