Back in the go-go days, that giggly era when townhouses were selling for 11 times what their owners had once paid, the notion that gargantuan profits weren’t preordained would’ve sounded laughable.
But this January, two units at the Plaza came on the market for less than what they’d reportedly sold for a year earlier. Uptown brokers sighed, scowled, crossed their fingers and hoped that such a cataclysm would be limited to that pesky hotel-condo.
It wasn’t....
Copyright Obser - Observer
