"A price cut at a new development is the kiss of death," developer/marching band benefactor Kent Swig told brokers at the Real Estate Academy, which is why developers try to avoid them at all costs. To get a better take on how well a development or the market is doing, Jonathan Miller suggests looking at two figures: 1) The spread between a building's listing and sale prices, also known as the "listing discount," and, 2) Sales volume, which has remained relatively stable in Manhattan, but is not fairing as well in Brooklyn. [Sun]
Filed under:
Loading comments...