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concessions on the rise?

Started by mh330
almost 15 years ago
Posts: 105
Member since: Oct 2006
Discussion about
I'm seeing some developers advertising concessions, and it feels like an increase over what we've been seeing over the past few months. Examples are the Mark Plus (sponsor pays transfer taxes & 12 months of common charges) and 904 Pacific St (transfer taxes). I don't think its a big surprise that developers are negotiating, but advertising these gimme's seems like developers are getting more desperate. Thoughts?
Response by ClintonBuyer
almost 15 years ago
Posts: 82
Member since: Aug 2011

I think it is probably true for developments outside of Manhattan. I would also be inclined to suspect that one might be able to negotiate far more aggressively in such situations.

Within Manhattan below 96th, however, I have yet to see such concessions openly advertised.

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