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I was speaking to someone the other day and they said they were looking at flats in Marina (don't know which building) and the price offered was 100k. He said without much hesitation they dropped it to 80k.. So, keeping this in mind.. Any have any similar situations? I'm looking for a 1 bed in marina in a good building which has all its facilities working. I see lots of choices.. But if I see something offered for 70k then do you think I can get it down to 50k or 60k (unfurnished)?

Well you can but try!
I would say it depends how long the flat has been empty. Put an offer in and if it gets refused try somewhere else or, if you really like the place, offer more. It's called negotiation!
BTW, I have just let my place in JBR, one bedroomed furnished, sea view, on a low floor for 9500 per month. A nice little earner which I am very happy with.

Why dont you try the Executive Towers instead? My friend rented a nice studio worth 45K.