Price Cuts, Broker Switcheroo at The Absolute


In the year and change that The Developers Group had the exclusive for The Absolute Condos, the marketing firm managed to sell 10 out of the 35 listings, though, from what we hear through the grapevine, they would have sold more if the developer hadn't turned down some decent offers at the peak of the market. About a month ago, though, Corcoran took over the reins and instituted some relatively modest price cuts. According to one of the brokers involved, "Activity is steady and a few offers pending," which all very well and nice but doesn't mean a whole heck of a lot in this market. At this point in the cycle, this location is likely to remain a challenge, but we've always liked the design of this building, especially compared to most of the new stuff that's gone up nearby, so we hope they're able to get sales past the tipping point where it can become a viable property.
The Absolute Condos [Corcoran] GMAP
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Development Watch: 111 Steuben/543 Myrtle [Brownstoner]
Development Watch: Myrtle and Steuben [Brownstoner]

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