lofts-on-lex-1208.jpg
Though they had a fresh round of chops last month, it seems prices are going down again at 95 Lexington Avenue, the 20-unit development which had four units in contract a month ago. Per Streeteasy, the remaining 16 units are now all discounted. The 1,524-sf 5D got a $150,000 haircut three days ago, to $849,000. That same day, the 1,015-sf 4C took $100,000 off, making it $469,000 (most are studios or one-beds since they’re supposed to be, well, lofts). Will this do the trick? GMAP


What's Your Take? Leave a Comment

  1. Area isn’t great, but the lower range of prices isn’t bad for the space. And it’s close to decent areas… close to Choice and Still Hip and all of that. I think the higher-priced units will have to come down more, but they’re not bad. What are the schools like?

  2. “Will this do the trick?”

    Not a chance in hell. 20% “sold”. Technically in Bed Stuy, not Clinton Hill as hyped (peep the LPC map if you disagree). $849K? That will be a brownstone comp well into Clinton Hill proper before the market bottoms. They need to look a good look at their highest bids and be grateful (take a little profit or minimize loss). They’re gonna follow the market down to it’s very last compound.

    ***Bid half off peak comps***