Game theory. "Woo's method to save $ on a declining RE market."

Do sellers actually look at the NYTimes? Perhaps direct mail would be cheaper and smarter?

... or just give notes to the doorman to pass on to the owners.

I think this is basically a reverse auction, though you have limited your upside by setting a price. Game theory (in its simple form, a la The Prisoner's Dilemma) doesn't apply strongly because, for most of the players, the outcome will be completely neutral.

West81.. DOH!.. yeah, but I think it puts a little fire under the feet of the listed unit knowing that the buyer (a rare bird indeed) has other options. Oh yes, this would be great when two exact units (different) floors are competing and already listed... since you'd want the higher floor, give it the non-contingent low ball offer.

That would be my strategy... put your hand in their chest, take out the heart and bite a piece of it... I think I saw that in a movie once?
:) Whatever you do... do not read "The Road." I'm still having nightmares.....

Not a bad approach. But don't bother with the doormen - just send letters to the owners. Another approach is just to mail out unsolicited offers to owners of apts you're interested in.

The whistles go woo-WOO!