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Curbed PriceChopper: New Kensington Condos Taking a Dive?

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Was: $499,000
Is: $405,000
You Save!: $94,000

Well, the PriceChopper may not be coming to get all of Kensington, but the old axe is definitely falling hard at a couple of developments in the neighborhood. First up for the heavy duty chainsaw treatment is 235 Ocean Parkway, which is new to market and is the site of 12 PriceChops, some of them fairly dramatic. Let's take a 1BR unit on the market for $405,000. According to streeteasy, it's taken a $94,000 hit since coming on the market a few weeks ago. All the units in the building have gotten hit by the axe, except for a handful that appear to have been listed for the first time a few days ago at the lower price structure. Next, we move along to the Park Circle on Prospect Park, a building on Coney Island Avenue where many of the units have been moldering on the market for two years and have been slashed by the axe, some quite recently. Take for instance, a $495K 1BR that's been on the market for a whopping 753 days and just took a $50,000 chopping. Not satisfied? There's always the $885K 2BR that's taken a $75,000 chop to $810K. It's only been on the market for 705 days. Timber!
· 235 Ocean Parkway [streeteasy.com]
· 346 Coney Island Avenue [streeteasy.com]