if you drop the price and no one is there, does it count?
The 2d fl at 42 E 12 St is a long-and-narrow full floor condo loft (90×25 ft, roughly; Property Shark shows sizes as 1,760 sq ft) that has been on the market ‘only’ since September, but what a price history there has been!
The early momentum was impressive: starting at $2.5mm on September 5, a quick drop to $2.3mm on September 13, then a busy October (at least for price changes): $2.1mm on Oct 2, $1,999,999 the next day, and $1.99mm the day after that (a series of miscommunications between seller and agent or between agent and listing data??).
The current price of $1.75mm has been in effect since November 27. Looks as though they had at least one offer as a contract went out last week, but it is “back on the market” as of yesterday at $1.75mm.
I am not sure I have ever seen a price history quite like this one.
funky condo building finances
It is set up as a 2 BR + 2 bath, with the classic high ceilings (11.5 ft), huge windows and open plan, in a building with new lobby, halls, elevator and roof deck that has some funky finances. Common charges are a hefty $2,415, though the agent notes (a) the CCs may come down in 2009 and (b) a portion “may” be deductible (never heard of that in a condo before).
But the most interesting numbers are the six price changes since September. The inter-firm listing data says (I will spare you the CAPS) “Serious seller – will entertain all offers!” The holidays are upon us, yet this seller has not had to do much entertaining so far…. Good luck, folks!

UPDATE 12.20.06: turns out they did not need my luck, as the listing data has been updated to reflect that they went into contract yesterday, off of the $1.75mm asking price.
Guess they will only be entertaining family and friends for a while (until they close). Congratulations to Paula Allan at Sotheby’s!

© Sandy Mattingly 2006
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