Price Chopping at Ludlow Residence

Posted on: March 24th, 2009 at 8:48 am by

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Last month, the School of Visual Arts caused quite a stir when it boldly opened the Ludlow Residence to short term tenants through posts on Craigslist. This desperate move to recoup some much-needed cash was rather ill-timed, considering the rental market in the Lower East Side, as elsewhere in the city, is tanking. Indeed, since then, the asking price of their “convertible” two bedroom has dropped from $1,600 to $1,400 per month. Maybe this is an omen that the dorm will struggle to reach capacity once school starts in the fall.

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Related Reading:
Ludlow Residence Seeking Temps [Bowery Boogie]
Ludlow Residence Coverage [Bowery Boogie]

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