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How Low Is Really Low?

251 West 19th Street, Apartment 1C
THE FACTS: A 1,342-square-foot one-bedroom, two-bath duplex loft condo.
ASKING PRICE: $1.1 million.
CHARGES AND TAXES: $1,425 per month.
AGENTS: Heloisa Gilbert and Seymour Miles, Corcoran.

From the ad:
“Time is of the essence! Rush & make an offer!”
Why the fire sale?
It’s called a “short sale,” which is to say that the bank is handling it. The seller bought at an “unrealistic price” and needs out, says Gilbert.
Second opinion:
“If I had a million dollars and wanted to be in the area, I’d buy this,” says Jim Lanfranchi of Archer Meade Appraisals, a Manhattan residential specialist.
In 2007, it would’ve gone for: $1.8 million.

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