Wednesday, July 23, 2008
I guess this is the first "price chop" mentioned on this blog, and it's my own listing! It seems that at least during the summer, the buyers hitting LIC are strictly value minded. And why not? While prices in Manhattan have barely budged, one of the great allures of Long Island City is the great pricing for quality product. Well, if it's value that you are looking for, #3R at 5SL certainly fits the need, especially at $799k. Summer is a traditionally slow season, yet my clients have a sense of urgency, and response was lukewarm at $849k. So they have decided to spice it up a bit with a nice price reduction. Considering that there is significant savings in closing costs (close to $25k), and that this is in the doorman building, and it's the best priced unit in the building, any value shopper would consider this a great catch.