Following the lead of Four Seasons Private Residences, thecondos above the Ritz-Carlton Hotel Denver, known as Residences XXV, haveslashed prices by 60% for the next 7 units that sell. Do you think it will be enoughto get these sold?
It certainly has worked for the Four Seasons. Since theyslashed prices by 45%, they have sold almost 30 units and all the one bedroomsare gone. I think slashing prices will help, but these units which I touredlast year still have some challenges ahead of them. First, the one bedrooms atthis new price start at $430,000 which is definitely on the high end for onebedrooms Downtown. And second, these units don't have balconies which when youare paying this much money, you would hope to have at least some outdoor livingspace.
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