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Your Morning Credit Crunch: 110 Livingston, We Presume?

While the New York real estate market holds steady in the face of mortgage massacre '07, could the affects of the credit crunch be starting to seep through just a wee bit? In July, the white-hot Two Trees development at 110 Livingston in downtown Brooklyn had just 8% of its units left on the market, and all was well. Yesterday, the following email was sent out to 110 Livingston wait-listers:

Thank you for your interest in 110 Livingston. In every project, for many different reasons, customers fall out of contract. Now that closings are well underway at 110, we have a few customers who have not proceeded with purchasing their homes. The benefit to you is two-fold. Not only do you now have a home configuration available to you that may have been sold out, but the price points will be lower as well.

This is an incredible opportunity to find a good deal in the building, so please contact me if you are still interested in purchasing a home. As I stated previously, we only have a few homes which fall under this category so chances are they will not last on the market.

Holy. Shit. Sure, we may be reading a lot into this, but buyers bailing out, as well as a quiet price cut, at one of Brooklyn's most in-demand buildings has us pishing in our pants a little. We're reaching for the brown paper bag, but we're not quite breathing into it just yet.
· Brooklynites Buying Brooklyn Condos! [Curbed]
· First Look Inside 110 Livingston [Curbed]
· 110 Livingston [Official Site]

110 Livingston

110 Livingston St, Brooklyn, NY 11201