Cutting it close?

I have seen a few developers launch sales later in the project's lifecycle. I guess there are two thoughts that go through a developers mind: sell as early as possible off the sales gallery and floorplans so I can build momentum versus sell closer to completion because on-the-fence-buyers are more likely to pull the trigger on a project they can walk through and see. Each strategy has pros and cons.

In this case, the original developer sold the building for 80 million three quarters of the way through for whatever reason. The new developer made a bet on Amazon coming and decided to convert to condos; what's interesting about this timeline is that the new developer apparently closed on this deal a few weeks before Amazon pulled out of LIC. I doubt there was much forethought into sales strategy at that time. I assume the new developer thought this project would sell itself to speculators and future Amazon employees. When that didn't materialize, I assume they figured they needed a "celebrity" agent team to sell this and come up with a catchy name.

But to answer your question, I think the market continues to be soft especially for new development. I expect slow sales though faster than Manhattan's counterparts assuming they did the conversion properly and this isn't still rental grade.

That means the current price level is still very tempting

Why only 18 actives out of 109 units? The ratio is too small.

maybe all bought up by the so-call "earth riches"