Price Hikes at the Sydney
Defying trend and perhaps logic, too, the Sydney, one of Hello Living’s luxury condo buidings on the Prospect Heights/Crown Heights border, has raised prices on several units. Per Streeteasy, there are three recorded sales and three in contract. Of the 11 active listings, five just got price hikes. Unit 502, an 802-sf two bedroom, got…
Defying trend and perhaps logic, too, the Sydney, one of Hello Living’s luxury condo buidings on the Prospect Heights/Crown Heights border, has raised prices on several units. Per Streeteasy, there are three recorded sales and three in contract. Of the 11 active listings, five just got price hikes. Unit 502, an 802-sf two bedroom, got a $20,00 bump a week ago, to $579,000. Unit 504, a similar model, got a $30,000 increase two days ago, to $599,000. Both have been on the market since April. Their last recorded sale on Streeteasy, Unit 301, went for $462,000 in October, $13,000 less than the asking price. So, um, what the heck?
“…condo buidings on the Prospect Heights/Crown Heights border, has raised prices…”
McCain picks Palin.
***Bid half off twice the ask/peak comps you can afford***
Maybe they drop prices to get to 50% occupancy, then after that try to get prices back up again? Just a thought. (Can’t make any less sense than raising prices just because they felt like it)
“Defying trend”
Cutting prices is tres chic!
these prices are insane. They will never sell for these amounts.
Nm, I checked layout. Wow, I actually like that layout for the size of the apartment. It sort of makes sense.
Are these 800 square feet two bedrooms with two bathrooms?
@Ozymandius, valid point, but I think that would only work on new interest, that is people who have not seen the building yet. Do you think there are many of those people left?
The price hikes are also paired with cries of desperation: “Brokers Welcome!”, “Rent To Own”
They’re reacting to the lowballers. Raise the asking price. Then the lowballer comes in with a 25% chop against the new asking price. At least they can start negotiations a little closer to what they’re willing to sell for.
maybe they did it to make Montana on Dean look like a good deal.