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Astoria's Santorini Makes a Grab for (Slightly) Higher Prices

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Long Island City's Murano and Astoria's Santorini popped up on our radar around the same time, but the two condos have taken rather different paths in life. Murano managed to close some deals rather early on, while it seems to have taken Santorini some time to pick up speed, with the first closings recording in fall 2011. Now a tipster writes in, "The sponsor raised the price recently and I think the units are barely selling." True/false? Let's take a look.

StreetEasy shows 25 active and 27 in contract listings, and there are indeed a few recent PriceUppers among the active listings. The PriceUppers are small?ranging from 3 percent to 8 percent?but they're also not going in the same direction as the final sale prices for the building so far. The average active listing price is now $580/square foot, while the average for the 19 recorded sales is $530/square foot. Most recorded sales with price changes show discounts of up to 7.7 percent off the most recent asks.

· Santorini [StreetEasy]
· Coming Soon: Murano Ready to Show LIC the Light [Curbed]