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Hi, Jeffrey. That depends which building. It varies greatly. I know of one where they are desperate to sell out and though they are not able to advertise these rates, units can be negotiated to the low $600Ks per square foot. There are others that are not negotiating to this degree. Some developments there have had some serious setbacks and are more willing to wheel and deal than others. Then there are re-sales. Depending upon how badly the seller needs to sell, they are taking various degrees of loss including short sales. Even if you are "cash-heavy" as you say, your time frame is important too. If the building is not over 70% sold by the time you are ready to sell, you may have trouble finding a buyer. If you'd like the "inside scoop" on buildings there, I'd be happy to answer any questions. Feel free to click on my contact info and drop me a line or give me a call. I track what is happening in the Financial District very closely.
Fri May 8 2009, 20:08