Separation of Real Estate and 4th Estate?

Forget about real-estate classifieds migrating to Craigslist. Seems they’re also relocating to Page One of the Boston Globe.

Exhibit A: Thursday’s front-page Globe piece about the condominium fire sale at the hopelessly pretentious Natick Collection mall.

Nouvelle at Natick, the portentously unoccupied 215-unit condo development adjacent to the mall, is auctioning off 42 condominiums starting “about 70 percent below previous asking prices.”

Granted, the Globe front-pager absolutely blowtorches starry-eyed General Growth Properties,the nearsighted developer of Nouvelle at Natick:

Bankrupt mall operator General Growth Properties is planning to auction off more than 40 high-end condominiums attached to the upscale Natick Collection with minimum bids starting at $160,000, about 70 percent below previous asking prices.

The 215-unit project, known as Nouvelle at Natick, opened last year and was supposed to usher in a new era of suburban living – marrying shopping and luxury – without the hassles and high prices of the city. But with only 37 of the residences sold or under contract, GGP has hired Accelerated Marketing Partners to handle the auction of 42 units on Oct. 4 as a way to jump-start sales and get some desperately needed cash.

Not exactly an ideal depiction of the property.

But a fabulous ad for the auction.

As if that weren’t enough, enter the Nouvelle at Natick Post-Ad pasted to Page One of the same day’s Globe West section. On the front, the four-color sticker touted the auction; the verso listed sample prices for a handful of auction units.

(Campaign Outsider Home recommends Unit 927 – an 1891-square-foot two bedroom with study, two bathroom unit with a minimum bid of $315,000.)

Taken separately, there’s nothing unusual about either the Globe’s Page One Nouvelle story or Nouvelle’s Post-Ad on Globe West.

Taken together, there’s something entirely unseemly about the Globe’s editorial judgment.

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2 Responses to Separation of Real Estate and 4th Estate?

  1. Eric Hundin's avatar Eric Hundin says:

    I found your blog on MSN Search. Nice writing. I will check back to read more.

    Eric Hundin

  2. Michael Pahre's avatar Michael Pahre says:

    At so many companies, not just the MSM, people have no friggin’ clue about what’s going on in other parts of the company.

    I bet that the (news) editors were red-in-the-face on Thursday morning when they realized what happened, but that the editors had no idea the business people had arranged a stick-it(-up-yours)-note to run the same day.

    But, please, don’t let that stop you from hammering away and making their faces even redder!

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