Original Asking: $250,000
New Asking: $219,000
You Save! $29,000
Last week's reports of apartment price drops went to some pains to note that the lower end of the market remains relatively robust. That doesn't mesh with the reality some buyers are seeing, however. A Curbed reader emails, "Been in the market for a $250k-$300k property in Manhattan for awhile now. NYT says one bedroom and studio sales are still going strong, but I'm seeing some softening in the market there too, at least with less desirable properties."
One example: an apartment at 66 West 84th Street. Advertised on the Citi-Habitats site for $250k, NYT.com ran an ad for the studio on October 9 pricing it at $219k. Similarly, an East Village 1BR on East 10th between Avenues C and D dropped $10k, from $289k to $279k, in just five days, per ads on Craigslist. Not earth-shattering drops, but significant on a percentage basis. Bears watching.
· Listing: 66 West 84th Street [Citi-Habitats]
· $279900 - Cute One Bedroom Gem [Craigslist, 10/7]
· $289900 - Cute One Bedroom Gem [Craigslist, 10/12]
[Noticed a price drop on an apartment? Drop us a line and let PriceChopper know. Emails to email@example.com, where anonymity is, as always, the rule.]