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Curbed PriceChopper: Familiar Fifth Street Loft Readjusts

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Was: $850,000
Now: $720,000
You Save!: $130,000

It was but two weeks ago when, for our PriceSpotter feature, we asked Curbed readers to guess the asking price on a resale at Long Island City newcomer Fifth Street Lofts. The apartment was a fairly standard 800-square-foot one-bedroom condo, with a couple curveballs: a deeded parking space and a large private terrace perfect for grilling trapped game or whatever else people eat out in the wilds of LIC. As later revealed, the asking price on the apartment was $850,000, about $100K more than the original sale price and way above what most readers predicted. Were the sellers listening? In the time since, the price has dropped a total of 15% following two cuts, and the asking price now sits at $720,000. Without the 400-square-foot terrace, that's about $900/sf. What say you now, PriceSpotters?
· Listing: 5-09 48th Avenue [Corcoran]
· PriceSpotter Big Reveal: Flipper Swims to Long Island City [Curbed]