Comps for New Condos

Background: We are looking at new condo constructions in NYC. They are not complete and the expected occupancy is September '08.

Is there a way to find out how much comparable condos in the building were sold for? What about in other buildings in the neighborhood?

It's tough because I know that the condos are priced right (based on comprable condos in the area), but I want to know how much below asking price (if any) they were sold for.

TIA!!!!!!!!!

Message edited 6/27/2008 1:27:34 PM.

Re: Comps for New Condos

Have you tried property shark? I'm not sure if they list new developments though...

Re: Comps for New Condos

after buying our condo preconstruction - but in Boston - there are definetly different prices based on when you buy

the price goes up as you get closer to move in date - there were people who paid a $100,000 less than us for a similar contract but went to contract more than a year before we did

i could not find prices of the contracts until they started to close but by then we were locked in -

i would talk to real estate agents who have clients that bought there or real estate attorneys who worked with other buyers - really most of the information for a building before closing is found through word of mouth

also there will always be a few units sold under value to people part of the constuction project - whether they are realators, the developer, and financing people, etc.

Re: Comps for New Condos