July 07 2010
The number was so low it sent me into a tailspin. How could a one-bedroom co-op on the Gold Coast of Greenwich Village, that would have sold for over $850,000 at market peak have plummeted to a mere $521,000? Yes, prices were down, but not that much. Yet there was the number staring up from the refinance application in front of me and my fellow board members. I needed a valium or an explanation.