14 west 14th would like your cash, please

how long till it goes bankrupt?

How many all-cash buyers are there? - and that's a HUGE red flag, isn't it, AR?

27 active sales listings: $1,182 per ft² (avg)

i like 14th street, i'm one of the few who do. and i cringe and want to hide like a frightened toddler seeing the bogeyman when i consider the implications here.

F'in 14th street!
They just don't have enough lipstick for this pig. It just cracks me up. OK everyone let's check our watches...how long till it's a rental building...now, how'bout now.......now, ok now.

I guess "economy of scale" means a master bedroom thats 12'X13!! for $1.6MM

cash: it's funky, but chic

Why would they decide to do this?

Would seem because they know no bank will give a mortgage with that many units unsold

And they couldn't work a deal (in advance) with any bank to assure financing to their purchasers - yeah, deep trouble

Wouldn't they need to give a fantastic discount to make this sort of contingency work?
What a waste of time.

Why would they decide to do this?

The ability to aquire a loan to buy would reqire the building be 50% sold.

ergo

falcogold - possibly redundant post?

1.3 million for a 2-bedroom apartment where the "master" bedroom is only 12 x 12???