Related Cos Decides to Drop Prices at The Century

In April, Related Cos' Bill Witte said The Century would be sticking to its original pricing of $3.3 million and up for units. Related believed there was still a market for this price bracket (empty nesters looking to downsize from a Bel Air mansion, or strapping young CAA agents looking to throw down, or New Yorkers looking for a pied-a-terre, perhaps). But like the Ritz, The Century is now dropping prices. Last week, prices dropped 10-25 percent across the board, according to Mary Ann Osborn, sales director for the Robert AM Stern-designed building. On the upside, the 140-unit building is completely finished and ready for you to move in, buyers. Osborn says that six units have closed contract.
· Century Sticking to Pricing [Curbed LA]