A Curbed reader and 70 Washingtonian brings up a good point about the Walentas' in-house Two Trees Management and their zany Craigslist blitzkrieg. Honestly, we're kinda disappointed in ourselves that we didn't think of this (but thinking hurts, so whatever):
I too have bought in 70 Washington...a "subpar view" but a total deal in this market (in price per sq. ft.).70 Washington: leading lambs to slaughter since May 2005.
My comment is this: The reason Toby Klein is flooding craigslist with ads for apartment sales in the building has more to do with keeping cash in the Two-Trees family than a lack of buyers. Once the sales by Klein and partners dry up, Two-Tress will farm out the remaining sales to Corcoran, who most certainly will sell them faster than you can say "find my missing Sub Zeros." It's all about Two-Trees trying not to pay out a 6% commission to Corcoran and other brokers. Once it's clear Two-Trees can't sell the rest on their own, expect Two-Trees to throw the apartments to the wolves.
· Supply Exceeds Demand at 70 Washington? [Curbed]