The Market

Truffle-scented condos fail to command premium

By A. Ready  | October 12, 2010 - 9:36AM

Actually, the truffle-scented lobby at 10 West End Avenue is an accident, not a marketing gimmick, writes the NYT's Christine Haughney: “Rosalind Rodburg is having no luck selling her apartment on West End Avenue despite more than 75 visits from potential buyers. She thinks the smell in the lobby of a truffle store is the reason.” She may (or may not) have a point, according to the StreetEasy sales history for the three-year-old Lincoln Square condo building.  

In the past six months there have been 6 resales recorded, and there are currently 12 units on the market.  While it hasn’t been a bloodbath in terms of sales prices, most have sold at a loss, and at the current absorption rate it would take a full year to sell what is available. We can’t tell just how much of that slowness is attributable to truffles, as the building had sluggish sales previously as well (the shop moved in last summer), but the smell certainly doesn’t seem to be helping. (NYT)

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