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On Prospect Park Roused to Life by Price Cuts, Broker Switch

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Richard Meier's On Prospect Park was 80% sold when its remaining inventory was moved from Corcoran to Brown Harris Stevens with a price-cutting strategy. That move seems to be working out well; seven units have gone into contract in February. Smaller units seemed to have gotten off the chopping block almost scot free. A $695,000 1BR went into contract unscathed after simply re-listing, while a pair of 2BRs sold almost as quickly for $975,000 and $925,000 after trimming their asks only $20,000 and $5,000, respectively.

The bigger the apartment, however, the bigger the chop. A sixth floor 3BR had to lose $175,000 from its asking price with Corcoran before it sold last week for $1.775 million; and a 14th floor 3BR trimmed $625,000 to enter contract at $1.875 million. The largest unit, a 4BR apartment that went into contract for $2.95 million, appears to be a combination of two smaller units on the 11th floor that's been off the market for more than four years.
· On Prospect Park 80% Sold, Cuts Prices on Remaining Units [CurbedNY]
· On Prospect Park coverage [CurbedNY]

Richard Meier On Prospect Park

1 Grand Army Plaza, Brooklyn, NY 11238