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$1M price drop - sign of a buyer's market?

Started by George
over 7 years ago
Posts: 1327
Member since: Jul 2017
Discussion about 250 West 11th Street
This property was mentioned in a Bloomberg article titled "‘$1 Million Price Drop!’ The Eager New Language of Manhattan Home Listings" https://www.bloomberg.com/news/articles/2018-08-30/bring-offers-manhattan-brokers-tweak-wording-to-lure-homebuyers But it seems that $6.1M is way overpriced for an estate-condition sale with only a tiny garden (lot is 16'7" x 48'7"), so touting a million dollar price drop isn't a sign of anything except a seller with high expectations. What say you?
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