What will it sell for?

That is an expensive 1 bed room!!

I am surprised they paid $2.3mm. The same for 4C. It is barely 1000 sq ft. Lucky if they get the money back. Light is very nice.

I think this unit has higher than average overstated square footage (i.e. between net usable interior SF and Offering Plan stated SF).

Indeed

Between 2.3 and 2.75 depending on how motivated the seller is. One bedrooms around the corner in new dev are trying to trade at around 2.3 or higher (e.g. XI). The new dev has more amenities but you aren't getting much natural light or views at the low end.

This looks to have access to a gym and a semi private garden plus lots of light. I personally wouldn't pay that, but I am sure someone will do the mental gymnastics to make it work for them.

What discount relative to brand new as it has 5 years of use?

Also, what discounts from the list can you get at XI?

Re: XI... I think those one bedrooms are going to get a price chop at some point. Just going from the public listings, it looks like the cheapest one bedrooms went from 2.5ish to 2.3ish. In this market, I think one bedroom with no views, high carrying costs, and not much natural light are going to have a difficult time selling at 2.XX. The developer is trying to selling the one bedrooms with slight views at high 3s.

I guess the high $3mm 1 bed rooms with view will get a 30 percent chop and trade at low $2k to $2500 per sq ft.

I could see that especially if the market continues to sour.

Developers don't have foreign buyers to swoop in and save them. And if the finance industry takes a dive, the pool of buyers will have shrunk considerably.

Agree. I view it more so as the new developments were never worth the ridiculous premium they were being sold in over “luxury resales in top condition”. That premium has come down significantly with resales down a little (in luxury segment say 10 percent, low price points 5 percent) and new developments down 10-30percent (look at 212 Fifth). While exact comparison is hard to find but I still find new developments overpriced by 5-25 percent relative to resales. 5-10 percent is developments like 91 Leonard. Belnord is another one fairly priced (most closed sales so far are unrenovated apartments).

21 units with D/M?

1.5k/sqft sounds more reasonable

That would be a little too low. Def north of $2mm.