After the embarrassing auction of 54 condos of the Riverdale’s Solaria in the Bronx last November, Joe Korff and his ARC Development are trying a tactic they have dubbed “Spring Bid and Buy.”
Huh? If a double meaning is meant, the grammar is elusive. And if Korff thinks the idea will work better than simply lowering prices, he’s whistling Dixie.
More than half the building reportedly still is empty. A total of 35 apartments in the sleek glass tower on Henry Hudson Parkway remain on the market, according to the Riverdale Press. Only 10 of the development’s 64 units had found buyers prior to the auction.
Poor Mr. Korff seems to think that an inconveniently situated development ought to be priced competitively with other New York City projects. (more…)