Reading a story about a Manhattan megadeveloper's non-NYC business dealings gives us that same awkward feeling that comes with seeing a teacher at the grocery store, but check out what Extell's up to in South Florida. To deal with the death of the Miami condo market, Gary Barnett & Co. have cut prices in its new 570-unit tower in half, to about $200 a square foot. Since then, 200 units have closed. How do you think the buyers that paid full price (about 40% of the building) feel about that? [NYT]
Filed under:
Loading comments...