The sale of 1327 7th Avenue #11 closed escrow on January 8, 2010 with a reported contract price of $1,150,000 ($904 per square foot and 2% under original asking).
Today, the list price for 1327 7th Avenue #9 was reduced $170,000 (12%) to $1,225,000 ($751 per square foot) while the list price for 1327 7th Avenue #7 was reduced another $74,000 to $1,075,000 (now asking 12% under its original list price as well).
Please don’t make the mistake of comparing the price per square foot of a two-bedroom sale with the asking price of a much larger three. Wondering about how the units were relatively priced and how that’s now changed, however, is fair game.
And once again, while we can’t vouch for whether or not the sale of #11 was an arms length transaction, we have no reason to doubt it was (nor would we really be surprised).
∙ Listing: 1327 7th Avenue #7 (3/2) – $1,075,000 [MLS]
∙ Listing: 1327 7th Avenue #9 (3/2.5) 1,631 sqft – $1,225,000 [MLS]
∙ From Rendering To Reality And On The Market For 1327 7th Avenue [SocketSite]