The easy way to answer the question is that, as you tour a new property, depending on the requirements of the buyer, those repairs will either be important or less important, depending on the final use of the property. In the specific case of 550 Park Avenue, the pricing that has been set went through a very rigorous process that we always apply to any residence that's being posted for sale. Included in that consideration is the potential need for repairs, to be decided by the final purchaser, of course.
On August 27th, 2024. See this statement in context.