According to the sales office over at BLŪ, the “starting price” cuts of 17 to 22% as reported by SF New Developments are in direct response to a fast approaching 25% pre-sale requirement (currently 10% of 108 units in contract), and aren’t expected to last past their first round of closings in 60 or so days. As always, time, the market and SocketSite will tell.
The pre-sale starting price adjustments according to SFND:
“A” Plans: Originally from $925,000, currently from $743,000 (down 20%)
“B” Plans: Originally from $809,000, currently from $631,000 (down 22%)
“C” Plans: Originally from $799,000, currently from $622,000 (down 22%)
“D” Plans: Originally from $930,000, currently from $743,000 (down 20%)
“E” Plans: Originally from $739,000, currently from $575,000 (down 22%)
“F” Plans: Originally from $809,000, currently from $673,000 (down 17%)
And it’s a plugged-in tipster that points out some specific unit price cuts of up to 26%:
UPDATE: The 25% pre-sale requirement insight was added for additional color (and accuracy). And yes, it’s officially turned into one of those days.
Full Disclosure: BLU currently advertises on SocketSite but provided no compensation for (nor had any prior knowledge of) this post. They did, however, inform our update.