Fulton on Clinton - name your price
The developer for the Fulton on Clinton condos in Clinton Hill has decided that he has too much concentration risk in real estate, so he's doing his best to manage down his position.Elliman broker Yuval Vidal has sent out an email stating that the developer wants to sell 'immediately' and 'any reasonable offer' would be considered.
The three units left over are a 1+ den, 2 BR and a 2 + home office. Asking prices are $390K, $615K and $525K, respectively.
8 other units are already in contract.
Labels: clinton hill, condos, elliman
6 Comments:
Did the email really state that the developer feels he has too much risk in RE right now or did it just say he wants to sell immediately?
Just curious.
the RE risk was my wording; his wording was yes, that he wanted to 'sell immediately'
welcome back! haven't seen you in a while...
This makes me wonder if he really just wants to move on to the next project. These last few units must be pure profit for him. Shaving a few bucks off the price to get this building fully sold, return capital/profit to his investors, and begin the next project may be worth it.
These guys have a lot of projects in progress right now, they are a developer to watch.
That "artist's rendering" is HILARIOUS!
with that said, those are good prices, and I hope that whoever purchases really enjoys their investment.
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