OPP Floats Some 'Limited Availability Pricing'
Following, perhaps, in the footsteps of Forte (which cut prices on a batch of condos for a limited time), the marketing forces behind On Prospect Park, Richard Meier’s flashy building in Prospect Heights, have just introduced some “limited availability pricing” on a handful of units. (Complete listings here.) The most noteworthy is this two-bedroom unit…
Following, perhaps, in the footsteps of Forte (which cut prices on a batch of condos for a limited time), the marketing forces behind On Prospect Park, Richard Meier’s flashy building in Prospect Heights, have just introduced some “limited availability pricing” on a handful of units. (Complete listings here.) The most noteworthy is this two-bedroom unit with 1,547 square feet that just hit the market asking a mere $1,003,500. This comes out to $650 a foot, far less than anything we’ve ever seen listed in the building. We also saw the “limited availability pricing” promoted on two other listings—a two-bedroom and a three-bedroom—though neither get close to the $650 a foot level. Let us know if you see other similar listings pop up. One other thing: Why is the maintenance so high in this building? No J-51? GMAP
Photo by j.morefield
has anyone else noticed that cocoran changed it’s name to “cocoran sunshine” on these properties? i’m not sure if it’s a global change or just for the OPP property…
Small price reduction = make an offer
It is simple code for price is negotiable.
I’ll pay you $4,000. This is how bidding wars start.
Lechacal, you should’ve made offer on that place if you liked it. Just offer your 45% off ask
MM, if you ever get offered this for free, please take it. I’ll pay U $1k CASH to take it off your hand.
Is that interior rendering in the ad supposed to be the living room of the apartment, or the lobby? It has all the warmth of the lounge at the international terminal at JFK.
I wouldn’t want this place if it was free. Sorry, I just don’t get the appeal. Not saying it’s inherently awful, just awful for me.
Carry on…
Yes, lechacal. I don’t understand the logic behind the “tiny price cuts” If you haven’t had any close offers on something after X number of months, why is an additional 5% off (or less in many cases) going to make a difference. It boggles the mind how idiotic some of these brokers are.
Another thought: It’s really good to see some sellers finally realizing that only meaningfully lower prices will move inventory. Let’s get this done. Chop the prices and the market starts back up. It’s the only way.
I went to an open house recently for a 3 br coop not too far from OPP. The seller had just cut the price by an almost meaningless amount (something like $20k on a price around a millionish). The realtor clearly was still trying to play the same game that worked during the bubble. She called me up the next morning to tell me that she had “several offers in hand” and asked whether I was ready to bid. It was almost pathetically obvious that the offers were imaginary. I was pretty pissed that she would have the gall to lie to me like that, but I didn’t have the energy to give her a speech about how unprofessional it is to do business like that. I just told her congratulations on finding potential buyers and wished her luck. The point of the story is that someone like that will fail. She will chase the market down with tiny price cuts and try to pretend the entire time that the seller is holding all the cards. Sellers who just chop now, rip off the band-aid and sell will be able to stop worrying about the market and will probably get out at higher prices than the people who chase the market all the way down to the bottom before finally selling.
Future welfare hotel…
The What
Someday this war is gonna end..