The fall saw another round of shenanigans at the Upper West Side's ever-troubled Apthorp, where the broker team stormed off and the sales office temporarily shut down. It looks like closings have now resumed following the melt-down (plus there's a fresh crop of rentals hitting market), so it's time for an Apthorp sales check!
Currently, the going rate on apartments seems to be 30 to 40 percent off their asking prices. The most discounted pad in the last two months of closings was #9G, which sold for $2,836,131, or 39.7 percent off its $4.7 million list price. The buyer appears to be designer, prior Apthorp resident, and Nouvel lobby destroyer Jennifer Post. All the choppage brings the building's average sale price per square foot down to $1,327/square foot. At most other buildings trying to sell out right now, that price might have developers dancing in the streets. But compared to the Apthorp's past average asking price of $2,548/square foot, it's more a sign of shame.
· The Apthorp at 2211 Broadway [StreetEasy]
· Apthorp coverage [Curbed]
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