Trend is down.....

So here we have another 35 West 15th owner jacking up the price 17.5% from the initial purchase price, 3 years earlier. Back then, there were high expectation for this new construction condo. But, with the passage of some time, reality has set in as relates to this very mediocre building. The building's exterior is roundly condemned as horrid, with the interiors, whether in the common areas or the apts, as no better. The design and materials comes across as cheap, a far cry from the initial hopes and the premium prices paid by the early buyers. But prices are now coming back to earth. Apt 12D will not find a buyer willing to pay more than $2,000/sq ft, which is roughly what it sold for 3 years ago.