Another data point: 39 Balcony, which was in foreclosure for around a year, appears to have sold in a short sale.
According to IPO Playa's site, it sold July 9 for a stunning $1.325m.
Quail Hill 39 Balcony $1,325,000 7/9/09 $1,716,000 Mar-06 268.23 0.77 207.11
IIRC, this...