Guess on Final price?

It went to contract for 900K. If they had not lowered the price, it would have gone to contract this summer for 820k. Lucky they got out.

How would you know what it went to contract for???

BSC: I was thinking the same logic but can you confirm 900K?
I guess the maintenance is pretty attractive too.

I actually saw this apartment way back when -- it started as a FSBO.

Actually a pretty nice apartment and layout is good. Move in condition but not mint or fancy. Decent light. Big drawback, and IMO a deal-killer, was lack of adequate closet space.

Worth noting that they paid $1,030,000 for it in 2006, and they did minor renovations -- put in recessed lighting, cosmetic work in bathrooms and kitchen. So this is a real loss for them, on an apartment they probably never should have bought.

My guess (although I see that bsc just said it went into K for 900k -- how do you know?) would be 950k, mostly because maintenance is very reasonable.

There are a few 2b/2b in this building, of which I think this was the nicest. So this comp will push prices in this building down.

And as far as asking for 1.25M at first, they just "got it" a bit late. An apartment in the M or N line (similar layout, a sliver smaller) that was a gut reno job sold for 990k several months before. And that was even below comps, so they just anchored to recent comps, not realizing the extent to which things had changed. Boy, I bet the sucker who bought the gut job for 990k, when things were already getting pretty bad, is regretting that today.

bsc, can you explain your comment?