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NY (Brooklyn) condo prices dipping

Northside Piers in NY by Toll Brothers saw prices fall: reductions up to 25 percent in some cases, including this 11th-floor 3BR unit, marked down to $894,990 from an ask of over $1.2 million.

Also, the Curbed comments take down broker shilling:

Spring clearance of winter goods. Toll Bros. is apparently contributing to the crack-smoking epidemic as well.

What is offensive to most people is gimmickry and lies. Just be honest about what the square footage is, the name of the neighborhood, don't photoshop the pics to make the apartment look bigger, don't neglect to mention that the tax abatement expires in 4 years.

Stop playing games. Get a reliable assessment of the property's value and price it based on that, not on what you paid for it three years ago or how much you owe on it or how much the apartment you want to buy costs.

Be honest with your adjectives, a 4x6 foot kitchen will never be a "chef's kitchen" no matter how expensive the appliances are and an apartment facing north into a courtyard on the ground floor does not have natural light by virtue of having a window. If the apartment is four feet from the FDR or BQE don't say "convenient to transportation" if the nearest subway is four long blocks away.

Toll hasn't toll realized that when you price chop people become more afraid of buying? In san francisco, a huge developer millenium partners (mind you, the guys who developed lincoln square)cut prices. You know what they did? they offered some money back for those who already closed in the development. you know what that does, it instills confidence in prospective buyers. if you're going to cut prices, people will stick on the sidelines waiting and waiting unless you do something to insure their investment.


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