more price pain on 16 St /if you knew then what you know now

4 W 16 St #8A drops a serious dollar
I blogged about #8A at 4 West 16th St after a September price drop (puzzling price policy / slow death near Union Square) that turned out to be too little. On the market since April; started at $1.35mm; dropped to $1.275mm in June; and dropped again to $1.225mm in September (death by small price drops…). The owners display a possible New Year’s resolution as they have dropped the price since the New Year to $1.075mm – a healthy (and serious) $150k hit.
The loft is only 1,300 sq ft with only 1 bathroom, and a kitchen photo that (to me) says “original”. Still, that is $115k higher than the last sale shown on Property Shark, the slightly larger (1,400 sq ft) #9B (also 1 bathroom and original kitchen).
That is a 20% reduction off of the original #8A asking price, with many calendar pages burned since April. Hard to say if that is enough of a price change in the current market, but the change should make an impression on attentive buyers.
crappy New Year?
The run-up to that decision probably did not make for a very happy holiday season.
© Sandy Mattingly 2007
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