Discounts off asking price

Depending on the seller you can expect to get a 0%-25% reduction on the asking price. Very helpful I'm sure :).

I guess it depends on which price point you are at. Higher the price, you more discount.

Well, to put things in context, I've seen a fair number of 2br on the UES hovering in the 1.3M-1.4M range (1300+sf). I'd be curious to know whether people have seen those apartments selling, or entertaining offers, in the 1M range.

At the price point, start at 800k and move to 1m

Based on what I've heard anecdotally from brokers, in the under 2 million market sellers are accepting 10-15% off ask, but not more than that.

I've been looking only in the UES too, for a 3BR apt. I've placed offers 30% under the asking ( usually around 3M) and so far, they haven't been accepted.

There are some sellers who have made their 15% adjustment and are sticking to that. Other have not, but would accept 15% less than their ask on the slightest prod of the broker. For instance, in 16 east 96th, that $1.4mm apartment (down from $1.6mm) will take $1.2mm. Just ask the broker she will tell you this in a NY minute.

It depends on how long they have been listed. If they have been on the market for fewer than 60 days, you can expect only a tiny discount. No new listing is going to give you a big discount.

Sure they would if they really needed to sell quickly. Every listing is situational

I made an offer yesterday for an apt that was bought for 350k in 2004. Asking 870k, based on comparables sold this year. I offered 640k. The broker didn't even bother to say if she would pass this information to the owner, told me to forget about it and practically hanged up on me...Too bad I didn´t wait for Q4 data before making an offer...

Mimi, $640K was too high. Perhaps next year you may be able to offer quite a bit less.

yeah, good luck mimi