Stating the obvious- 20 Pine

I looked at several layouts over the past weekend. I brought up those same stats to the broker and he said that those were "special" concessions to very early buyers and that the owners were not entertaining any thoughts that remaining stock would sell there even though that is the market as we speak. Considering the ongoing issues with the owners and the many unsold apartments, I cannot imagine anyone buying for more than the 32-33% off list. With all of the FIDI inventory out there, I would not be surprised if they eventually sell for 40% of ask.

Its like a disease spreading from brooklyn and then starting with lowere manhattan and slowly making its way uptown.

marco, that's a strange analogy. I don't really see a geographical pattern. Troubled buildings have popped up everywhere, and in the same neighborhood you have buildings that have done relatively well. It's more a factor of seller/developer's financial situation and pricing strategy than location, from what I've seen.

johnyhoops, i completely agree with you!!!
and i know for a fact they are not special concessions, some where resales and some were from the sponsor. I looked in Nov and they were 25% off asking and i know it has gone done. There were a few investors that purchased a few and sold them at bargin prices.
I can't see that building bouncing back, ever as there are 400 plus in the building and it's like living in a cave.
At $400 psf it's still a risk.

The place is awful but I thought they were nearly sold out now, and that they are very upfrnt about the discounts which were like 25% off the original and absoltuely nowhere near 400 psf so I don't know where that comes from.

they are not that low.... was saying even if they were i would not got near it!