Developers Cease to Offer Condo Incentives

(The New York Times) Three months ago, when Wei Min Tan, a broker at Rutenberg Realty, negotiated a deal for a new $3 million three-bedroom condominium at the Aldyn on the Upper West Side, he was able to save his buyers $95,000 in transfer taxes and other costs, as well as to finagle a free storage space. But now, Mr. Tan said: “I don’t know if I could get the same deal. Literally a month ago, the market turned, and there is now a feeding frenzy.”

60 RIVERSIDE BOULEVARD The Aldyn, on the Upper West Side, is among the condominiums where help with closing costs may be history. Credit: Marilynn K. Yee/The New York Times

Source: http://www.nytimes.com/2012/05/13/realesta...