Sale at 308 East 38th Street #6B

They've done a calculation of their cost to renovate vs how much discount they need to offer, and the 'offer it in unrenovated' condition meant they would make more money. Some number of people want to put their own stamp on a place, and seek unrenovated units, so as not to pay a premium for decor they don't want. That seems to be the target buyer here.

For new construction under $2m, do they still need to offer a discount? Apartments seemed priced fairly competitively in this building...so they know they are not going to sell the ones they already finished at asking?

I guess I should say "conversion," not new construction. Not sure if that makes a large difference in value calculus.