Price cuts coming.....

This apt was previously listed for sale at $4.25 million, delisted last month and relisted today with a different broker at, take a guess, the same price it languished for months at.....$4.25 million. From the prior listing: Seems like the owners of 8D are living in a seller's market fantasy land. Now back to reality. 35 West 15th is known in the area as the horribly ugly monstrosity, referring to... [more]

This apt was previously listed for sale at $4.25 million, delisted last month and relisted today with a different broker at, take a guess, the same price it languished for months at.....$4.25 million. From the prior listing: Seems like the owners of 8D are living in a seller's market fantasy land. Now back to reality. 35 West 15th is known in the area as the horribly ugly monstrosity, referring to the building's exterior. What most people don't know, though, is that the interiors of this building are far more hideous than what's seen on the outside. The public areas are an embarrassment with cheap materials, cheap furniture (can you find the clear plastic chairs?) combined with being massively unsuccessful at trying to achieve a cool, downtown look. The early buyers into this building got screwed, way overpaying as they mistakenly thought 35 West 15th would be a top building. It is, in reality, an unatractive mid-tier new condo and latter apt sales by the developer closed at much lower sales as the reality set it. Much of the 8D's interior is both plain and ugly. This is nowhere near the type of apt that sells for $2,500 per sq ft. $2,000 per sq ft MAXIMUM in this market which would correlate to around $3.6-3.7 million. Having said that, even that price is overachieving for a very basic newly built condo. I also think it's very important to look at this apt's actual LIVABLE sq ft, which is around 1,200 sq ft vs the 1,868 sq ft reported. 1,868 is nothing but fantasy. Just add up the sq ft yourself. Developers often play games with sq ft and Alchemy Partners is a master at doing this. Using the "real" sq ft, 8D should not sell for more than $3 million MAX. [less]