
Dig into the sales histories of any of these buildings and you’ll see why they’re so attractive. Everything — and I mean everything — is selling for cheap, at least compared to what the sellers paid. Every unit closed at least 48% below its prior sales price; the average price drop was 55%.
With 18 units under contract right now, you can expect to see another big quarter at the building. In fact, the building’s pretty well picked over for the time being — just three units are available right now.
