BubbleWatch™: Froth on 47th Street?
"Go west ... Clinton West" reads the Corcoran description of this new development on West 47th Street between Tenth and Eleventh Avenues. And much like a gold rush, people have. But will this $74 million condominium project, built over the submerged West Side rail lines, pan out? While sitting around the fire and passing around the bottle one night, a grizzled old prospector offered this warning:
Noticed the listings, so I tried to reach the listed Corcoran agent -- lots of busy signals, no return messages or emails. Tried a different number today, got a real person. She said the development has only two units left (out of around 140) and does not have a sales office. She said buyers are basing their decision on the renderings on the web site. I am not one to overreact, but this seems a little frothy to me.Shut your mouth, old timer! There's gold in them there hills!
· Clinton West [Corcoran]
UPDATE: Corcoran's Justin Whitney shoots back a reply: "We have received hundreds apon hundreds of calls for this development and there are three of us selling here. We are completely sold out. We launched on July 11th. We may have contracts come back and are taking backups - we are sorry that your tipster had a bad experience, but we can only go so fast!"
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