Studios and one bedrooms are selling much faster New York City than larger and more expensive condos. This means it's harder to get a deal in the lower-price range and brokers report apartments priced below average are the ones that are going to bidding wars. This apartment, 2 South End Ave., #6A, had a 4 percent price cut four months ago and has an asking price of $599,999, which is below the current median price of $750,000 for similar-sized apartments in the neighborhood.
The apartment, however, has been on the market for more than 500 days, suggesting the price cut didn't go far enough.
Some aspects of this apartment may be putting some sellers off: The kitchen and bathroom could use upgrades, and the listing says there's a tenant in place until September. However, obstacles also create room for negotiation. For context, two other apartments in the same building with similar layouts sold for $539,000 and $488,000 (the latter without a balcony) at the end of last year, according to StreetEasy.
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