How does having all of your closing costs covered sound? What if they threw in a pile of cash to buy down your mortgage rate a point? What if you offered 10% below ask and they actually take it? Well, a variety of these scenarios are playing out in a number of buildings in LIC. The market is slow and the developers are acutely interested in moving product.
Market Update: Unadvertised Bargains Abound In LIC!
So, you ask, why aren't they putting huge ads in the NY Times to call attention to these deals? The answer is simple. In order to officially reduce price (and then be able to legally advertise it), you have to file an amendment. If you file an amendment, all of the exiting shareholders have to be notified - and you end up with a whole bunch on unhappy shareholders. So, they just wait for prospects and then talk turkey when they have them one on one.
The long term value proposition is hard to deny. NYC is a very expensive place to live and LIC, a hotbed of culture and character, has more and more to offer as time goes by.
That last line produced a round of guffaws at Casa del Crapper. (Notice how Monty's tacky suit jacket blends in with the LIC landscape...)