Costco-style real estate sales?
Hoboken411 reader YipYap thought you might be interested in this new real estate trend of “sell a lot of properties quick – we need the cash!”
Albatross in the coal mine
“Not so long ago, many New York City developers modeled their sales efforts on stores like Barneys, marketing luxury wares to consumers with nary a half-off sticker in sight. Nowadays, however, builders might be taking their cues from businesses like Costco.”
“The above examples aren’t the only ones. Faced with a stagnant market and looming loans, more and more developers are finding the notion of bulk condo sales attractive. “When you can’t sell retail, you sell wholesale,” said Eric Anton, a principal at the investment services firm Eastern Consolidated.”
Is Hoboken next to follow this trend?