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Return of the Bidding War

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Though bidding wars on apartments in the West 100s might seem a bit 2006, broker Christine Toes writes on UrbanDigs that it just happened to her client: "West 100s - just over $2M. (Over ask) An extremely similar apt in the building sold for $3M in June 2008. So this is a 33% drop over last year. This seems pretty consistent with what other brokers are seeing in the higher end market. There was a bidding war, both buyers were all cash. Best deal in the neighborhood, Central Park Views, approx $1,000/sq ft., which was a 2004 price for this building. Pied a terre. Buyers first Manhattan purchase. Legal field." [UrbanDigs]