As we wrote last month:
Purchased for $1.75 million in October of 2014, the “modern and sleek” unit #5 in The Silver Building, a full-floor loft conversion with exposed beams, eleven foot ceilings, high-end finishes and air conditioning at 10 Mint Plaza, a Mid-Market location a few blocks from Twitter, returned to the market listed for $1.75 million this past July.
After three months on the market, the asking price for the 1,559-square-foot, two-bedroom unit has been reduced to $1.65 million, a sale at which would now be recorded “at asking” according to all industry stats and reports. And having been relisted anew three weeks ago, a sale today would be counted as having occurred within “21 days of being on the market” according to all industry stats and aggregate reports as well.
Unit #1 in the building, which was purchased for $1.5 million in 2014, resold for a $1.425 million last year, down 5 percent on an apples-to-apples basis, as we reported at the time.
This past Friday the list price for 10 Mint Plaza #5 was reduced another $75K (4.5 percent) to $1.575 million, a sale at which would be considered to be “at asking” according to all industry stats but would represent net depreciation of 10 percent for the modern and sleek unit since the fourth quarter of 2014.