The Bedford Already Getting Price Chopped
Remember The Bedford, a modestly sized building with studios and one-bedrooms ranging from $450,000 up to $625,000? Well, it was on the market a mere two weeks and Curbed now reports that it’s already seeing some major price reductions. StreetEasy shows a $400,000 studio is now $319,000 and a $600,000 is down to $565,000. Think…
Remember The Bedford, a modestly sized building with studios and one-bedrooms ranging from $450,000 up to $625,000? Well, it was on the market a mere two weeks and Curbed now reports that it’s already seeing some major price reductions. StreetEasy shows a $400,000 studio is now $319,000 and a $600,000 is down to $565,000. Think the 20 percent drop will do the trick?
Price Chopper: The Bedford [Curbed] GMAP
The Bedford Hits the Market [Brownstoner]
WL – the building next door (same developer, same broker) is a rental. Also making this a tough sell is the the site to the right is a vacant lot/stalled development site.
it has to get real cheap real quick or become a rental. W11 is really nice and has high end amenities like a garden, doorman, parking storage, etc… This needs to be under $500psf. The Edge and 80 Met can get a higher sq foot price, but why would this?
i do like the location a lot (it’s between driggs and roebling, one block from the Driggs entrance to the L) though which is why I think it would rent in a day.
“Think the 20 percent drop will do the trick?”
Nope. But Hindenburg will.
***Bid half off peak comps***
Great marketing though – if they drop the price 20% per week, eventually they’ll hit their market pretty quick (in another two weeks they’ll be around $500 a foot – wasn’t that the sweet spot for W11?).
Ridiculous.
Still 750psf. If The Edge isn’t gettin that, this sure ain’t.