Robert A.M. Stern's buildings have gotten off relatively easy in the harsh market of the past few years, with the exception of those spec mansions in Riverdale. Oh, yeah, and The Brompton. Buyers at the Upper East side luxury condo filed a lawsuit last year demanding concessions from developer Related due to the declining market, scandalous behavior for a pre-war imitation building that markets itself as being "stylishly proper." And maybe it's improper to talk about just what kind of discounts Brompton buyers have been getting, but hey, inquiring minds want to know.
Six units have closed since June 1, several at substantial discounts. The best deal went to the buyer of #20B, who paid $3,068,576 on a unit originally listed for $4.15 million. That's a 26.1 percent discount. The buyer of #11L also lucked out, with 22.7 percent off on a 3BR originally listed for $3.25 million and sold for $2,511,984. Today the deed was filed on the sale of #THA, originally listed for $5.75 million about three years ago. The buyer, hidden behind an LLC, paid $4,721,309, a discount of close to 18 percent. Have these discounts successfully put out the fire? Of buyer discontent, we mean.