How Low Is Really Low?

Buyers are expecting deep discounts, and ads are suddenly using words like “fire sale.” But which are actually great deals, and which just anti-hype? A sampling.

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By S.Jhoanna Robledo
Published Feb 15, 2009

(Photo: Courtesy of Anchor Associates)

234 East 35th Street, Apartment 11
THE FACTS: A 296-square-foot co-op studio with built-in loft bed.
ASKING PRICE: $269,000.
MAINTENANCE: $537 per month.
AGENT: Oren Shalev, Anchor Associates.

From the ad:
“Distress sale … charming studio.”
Why the fire sale?
The owner has already put in an offer on an apartment in the Village, so the clock’s ticking.
Second opinion:
“It’s a nice discount, but not a steal,” says Corcoran’s John Gasdaska.
In 2007, it would’ve gone for: $330,000.