brokers say, more wealthy buyers have come back to the table, looking for fabulous apartments at a bargain.
…even in the luxury co-op market, where there are more listings, only a fraction have been priced competitively enough to attract buyers, brokers said.
Robby Browne, a Corcoran broker, said he had several wealthy clients seeking trophy properties but had nothing to show them that was “good to buy.”
When sales first began to pick up over the summer, brokers say, some of the best-priced listings were sold; they have not been replaced by a new supply of similar listings.
“Now when you can say you bought it at a third off of its previous value, it is not quite so embarrassing,” he said. “You look smart.”
Nowhere is the luxury drought more apparent than at 15 Central Park West, the new condo at West 62nd Street, which not long ago had a listing for $80 million. That unit, a 5,200-square-foot four-bedroom, finally sold in September for $37 million.
From The New York Times > Lots to Spend, Little to Buy
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