Riverdale's Solaria development was the site of a high profile auction back in 2009, as the first luxury condo auction to hit the Bronx neighborhood. But in the weeks after the auction, a surprisingly small portion of the 54 units that hit the block actually went into contract. And the developer continued to offer rather odd incentives for buyers. Broker-blogger Malcolm Carter checks in on the building and finds that the sales situation hasn't really improved. There are only 20 recorded sales on StreetEasy. The average price for those was $722/square foot, which compares pretty well to the previous listing average of $736/square foot. On individual sales, there were discounts of up to 16.9 percent.
Carter notes that some of the sales, from the auction and otherwise, probably haven't hit StreetEasy. Regardless, there are still apartments available. The 11 active listings range from $770,000 for a 1BR to $2.495 million for a 5BR. Ask nicely and maybe the developer will throw in free summer camp for your kid.
· Condos still unsold after Solaria auction debacle [Malcolm Carter]
· More Than 50 Units at Riverdale's Solaria Sell at 45 Percent Off [Curbed]
· Solaria coverage [Curbed]