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.
9/16/10 UPDATE:
I recently noticed that these have now been taken off the market. Presumably they could not find buyers.
There are a couple things that have always bothered me about this location for the townhouses. First, the lack of sunlight. The artist rendering seems to indicate that there would be plenty of direct sunlight, however the buildings are surrounded from practically every direction the sun could strike by Hudson View Gardens and Castle Village.
Also, a multi-million dollar private roof deck with no direct sunlight, and with neighbors peering down on you, is a rip off.
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