Dogged by the 'dog' line
As inventory sits, problem apartments become even more worrisome to developers October 12, 2009 10:00AM By Alison Gregor
From the October issue: They're known as "dog" lines: the vertical row of apartments in a condo building that are hardest to sell. They may lack a view, be oddly laid out, or be smaller than their neighboring units down the hall. While dog lines tend to sell last in any market, they can be especially difficult for developers to deal with in a downturn like this one. David Sigman, a senior vice president and principal with the development group LCOR Incorporated, which has several New York projects, said that developers may be particularly vulnerable to dog lines if they negotiated minimum sales prices with their lender and the offers for apartments are coming in below that amount.
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Comments
Anonymous
Sean Osher should spend his time switching his business model to re-sales instead of talking to reporters constantly before his boss Joe Cayre closes down their little shop
Comment #1 Posted By: Anonymous 10/12/09