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Door Prizes

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Door Prizes is our new name for buyer/renter incentives offered by increasingly desperate developers and brokerages. These come via The Real Deal: "'Need a little extra holiday cash?' read an email to residents of Archstone's 12 metro-area buildings, who were offered a $500 rent credit if they referred a new tenant. Similarly, Stonehenge Management is offering a $500 AMEX gift card to residents who refer a new tenant, who signs a one-year lease at any of the company's 18 Manhattan properties. New tenants at Manhattan Park (right), an 880-unit development on Roosevelt Island, will receive a $300 AMEX gift card at signing." And there are many more. [Real Deal]