Consider a one-bedroom apartment that lingered on the market for 42 weeks after it was first listed for $575,000 last September.
The 725-sf co-op in the low 70s on a corner of West End Avenue has suffered the indignity of no fewer than four price reductions, to $550,000 in October, $529,000 in January, $499,000 in February and, finally, $489,000 in June before it slunk from the market two weeks ago. (Monthly maintenance for the unit is $1,290.)
If ever a listing could be viewed as stale, this was it.
Any of us can imagine what deficits a stale unit might endure. Where to begin? Continue reading