What to bid

sorry if this was too long.... if you want to land at 1.45-1.5 m and the ask is 1.7, any thoughts on strating bid? Paying cash

I was thinking 1.37 m

Thanks

Your strategy sounds fine but unless they've been on the market for a while & are eager to sell, they're probably thinking of getting 1.625 or 1.65, no? All cash may not be a lure at all.

Good luck!

Your finish point of $1.45MM is so far away from the ask (about 20%), that this is not likely to be a unit you can successfully negotiate on no matter what strategy you use. If you come in with an offer 30% below asking the seller is unlikely to even respond. You may, however, pick up some useful information from this extensive thread on negotiating: http://streeteasy.com/nyc/talk/discussion/8657-negotiating-better-fundamentals-of-effective-negotiating It is chock full of various perspectives.

Thanks guys! Kyle I will check that out. The original offer (1.37 m) would be at 20% off asking. The final offer (1.45m) would be at 15% off asking, and (1.5m) 12% asking.

It seems like listings are discounted around 10-15% off these days, does that seem right? Maybe I am off on that assumption. I know it depends on the specific listing of course...thanks again!