Catch the hot potato!

Today, let’s go shopping at Essex Market—specifically for a deal at One Essex Crossing.

I’ll warn you though—the pickings are slim.
As of now, there’s only one unit available: #9M at 202 Broome Street, a 1,400 sq ft 2BR listed at $3.4M.
So... is that a good deal? Let’s dig in.

Since opening in 2022, 81 transactions have been reported—out of just 83 residences. And with only one on the market? That’s a hot potato!

Within the building, the K, H, and J lines are consistently strong performers—year after year—suggesting stable demand and desirable layouts. Let’s look at some data for Average Sales by Bedroom:

1 Bedroom
Avg Price: $1.57M
Price/SqFt: $1,938
Avg Over/Under: -11.99%

2 Bedroom
Avg Price: $2.72M
Price/SqFt: $2,083
Avg Over/Under: +0.08%

3 Bedroom
Avg Price: $4.39M
Price/SqFt: $2,372
Avg Over/Under: +6.21%

What does this tell us?
3BR units command top dollar and often sell above asking.
1BR units offer the most discounting—potentially a value play.

Since 2022, the overall price per square foot has dipped: ~$2,136 in 2022 → ~$1,686 in 2025.

Why?
• Deep discounts on lingering inventory
• Increased negotiation leverage
• Broader market shifts in buyer behavior

So... is $3.4M a “deal” for #9M?

• Listed at $3.65M in 2022

• Sold for $2.975M in 2023

• Now asking $2,333/SqFt

If this unit checks your boxes for modern luxury and convenience, there may be room to negotiate.

Connect with Alex to unlock 10002, NYC, and the Empire State.