We profiled 825 N. Kings Rd #4 in our "Green With Envy?" post back in March.This was a fairly cool, innovative building that looked like it might have a shadow inventory situation. The building was marketed and most units sold in late 2007.
When we profiled #4 in March, its last/initial sale was in August 2007 for $797,000. It had been listed for 5 months with a couple of reductions, the most recent to $695,000.
Now we have a sale and a comp for the rest of the building:
Sold: 6/10/09 - $682,500 (-14%)
As our readers know, we have been seeing 2005 condo rollbacks, so this is not a surprise, although it is a new building with all sales (at higher levels) very recently. A tough comp for anyone else in the building feeling distress, although we're going lower still ...
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