The Microsoft Store has marked down the Lumia 735 to just $129, which is 35% off of the normal price of $199. There's no indication that the price cut is temporary, but Verizon Wireless has been selling the handset for $120 since August, so it would seem that Microsoft is just keeping up with that.
While it's still just a bit more expensive at the Microsoft Store, keep in mind that Verizon won't sell it to you without a service plan. It's an unlocked phone - as all LTE Verizon Wireless devices are, by law - so you might want to take it over to your preferred carrier, such as T-Mobile or AT&T. Note that you'll want to double-check the LTE bands before you do so.
It's worth noting that while the Lumia 735 didn't launch on Verizon until about a year and a half ago, the handset originally came out in September, 2014. You will be getting two-year-old hardware with this device, including a 1.2GHz quad-core Snapdragon 400 chipset.
It was also among the first handsets to include a rear camera with an aperture larger than f/2, it has a 4.7-inch HD OLED display, and a 5MP front camera. You can grab the Lumia 735 from the Microsoft Store right here. It was sold out just a few days ago, so there may be limited stocks.