The Cabrini townhouses, that still have yet to be constructed, have dropped 100k (from $2.95 million to $2.85 million) in price since we last posted about them in January. This 3.4% reduction doesn't seem to reflect recent national luxury reductions, and certainly doesn't reflect recent drops for less expensive properties in Washington Heights and Inwood.I'm beginning to wonder if any of these will be built without buyers lined up. And with people wondering when the market will bottom out, I'm surprised these haven't come down more in price.
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