Corcoran’s marketing materials for the Fusion in the South Slope note that the 421-a tax abatement combined with the low common charges make these units very affordable! But it seems like maybe they’re not affordable enough to actually, you know, sell: StreetEasy is showing that the 20th Street building was just hit with a third round of price cuts. Units are now listed between $458,100 and $1,012,500; when they hit the market in May, they were running between $555,000 and $1,159,000. The building itself doesn’t look so bad on what’s basically an ugly-duckling block, so we’re assuming ho-hum interior finishes may have a lot to do with the lack of interest here. Anyone have an insider’s view?
New Development: Fusion on 20th Street [Brownstoner] GMAP
Fusion at 286 20th Street [StreetEasy]
286 20th Street Listing [Corcoran]