Oro Passes 50 Percent Sold Mark


When the Oro instituted a major price cutting campaignlast fall, only 91 of the two-year-old tower’s 303 units had sold. The price reductions (which averaged in the neighborhood of 25 percent) seem to be working: According to a press release (and reported by Curbed) issued yesterday, another 61 units have sold since last September, pushing the building over the 50-percent threshold. “The market is entirely different today than it was when they began selling these apartments,” said Robert Scaglion of Rose Associates, which is handling the sales process. “The sales pace indicates that the building is priced for today’s market.” GMAP

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