Is Jeff Levine rethinking the wisdom of his staunch no-price-cuts policy? As we mentioned a couple weeks ago, Levine, the developer of Williamsburg’s Edge building, told the Times “We have not reduced prices at all,” indicating that lower price tags weren’t part of his strategy for dealing with a slow market. (He also told the Brooklyn Real Estate Roundtable last spring that he had the wherewithal to wait for the market to rebound instead of jumping on the price-cut bandwagon.) But, according to StreetEasy, prices were cut on at least four units at The Edge at the very end of July; one such unit was a three-bedroom condo that went from $1,145,000 to $949,000. You buyin’? Update: We just heard from the broker for the Edge who attributes the illusion of price cuts to StreetEasy mismatching old listings and new ones. The four units that came up on StreetEasy as having been reduced on July 31 were, the broker says, new listings that StreetEasy misidentified as old listings. The official page for The Edge on StreetEasy does show not a single price cut; the http://www.streeteasy.com/nyc/sale/393818-condo-135-kent-avenue-williamsburg-brooklyn, which we were referencing, is where the confusion stems from.
135 Kent Ave. in Williamsburg [StreetEasy] GMAP
Jeff Levine: ‘Cockeyed Optimist’ [Brownstoner]
Jeff Levine Interview [NY Times]
Photo by Jonathan Scheff/Brownstoner