The Prime
Started by jason10006
almost 17 years ago
Posts: 5257
Member since: Jan 2009
Discussion about The Prime at 333 West 14th Street in Chelsea
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ouch ouch ouch
honestly they need to go even lower to convince people to pay that much to live on 14th street
This is one of the many problems with the new developments on 14th. There is no demand. The biggest risk you take is being first into the building. For those two who already purchased in this building before this price reduction you are guaranteed a 20-30% loss. This assumes they will go into contract at these prices. A Crazy situation even if you can get a mortgage on this place. The risk certainly ourweighs the potential return on this building at even these prices.
The gruesome location is the buzzkill on this one. So much noise, heavy traffic and a not-quite-Chelsea-not-really-Meatpacking address. Remember your Real Estate 101 - location, location, location! They should make it a rental and eat the loss.