So while it’s not fifty percent, forty-three percent of the current re-sale listings for 260 King Street (The Beacon) have seen at least one price reduction. Unit #369 is advertising its “Final Price Reduction!” (there have been three) and “Need[s] to Sell Soon!” (it’s been on the market for two months); while unit #555 (floor plan above) “Won’t last long” (although it’s been on the market for four months and has been reduced three times as well).
And as Curbed notes, things might be slowing down at the sales office as The Beacon is now offering “a $2,500 Best Buy Gift Card in addition to our standard 2.5% broker commission fee” for brokers who can help close out the remaining new units. Nothing like a little friendly competition between the sales office and current owners/sellers to keep things interesting.
∙ The Cost Coming Down? [SocketSite]
∙ Listing: 260 King Street #369 (1/1) – $499,000 [MLS]
∙ Listing: 260 King Street #555 (1/1) – $609,000 [MLS]
∙ Walk Away with a Flat Screen TV [Curbed SF]