Available units in high profile buildings are lingering on the resale market,
and few people are stepping up to buy them. At Trump International last
week, 19 apartments were listed for sale, including the $28 million
penthouse owned by Italian film producer Vittorio Cecchi Gori. At 15
Central Park West, 16 apartments are for sale, and the Plaza has 33
listings, including a six-bedroom apartment that includes what was once
the Frank Lloyd Wright suite. Adam Modlin, a principal of the Modlin
Group, said buyers are looking to purchase homes at “what they think
prices will be in six months,” and are waiting for prices to drop
further. Louise Sunshine, founder of the Sunshine Group, is not advising sellers to cut prices. “I would
advise anybody who lives in a quality building to raise their prices
and have patience, because nothing is going to move until people have
confidence,” Sunshine said…. [more]