Last June, Forest City claimed 140 units at 550 Vanderbilt in contract. Now they claim only 167 sold.
I noted that, nine months earlier, it was said to be more than 30% sold, with more than 80 residences in contract. That suggested a pace of 60 units over nine months, or less than seven per month.
Of course, they may now be using more conservative metrics than they were using last June. Still, in comparison with the statement last June about the blended average figure, O'Brien did not cite a figure but said merely that "pricing is within pro forma ranges."
Also: no one on the conference call asked about Site 5. Nor was it mentioned.