Sale at 51 West 81st Street #12D

12/10/2004 #5d $390,000 -
05/24/2004 #11d $319,000

One of the best locations on UWS, and the SW, SE corner apts have great views. If 2 ever came up on the corner, the floorplans yield easy and livable combos.

Those are not good comps, 12D is really 12C & 12D combined.

ah the dangers of comping. even so, adding c's and d's together, i don't see this. not with a 9x10 second bedroom.

Those who love the UWS must be willing to overlook a lot - a second bedroom that's 9', a master that 13X14, a LIVING ROOM that's 13X14? All these tiny spaces for just $999M? What a deal!!

Yeah, why do that when you can have much bigger rooms in Murray Hill for half the price, right?

not necessarily, but why a 9 x 10 bedroom? would you be happy with such an apartment for a million?

I'm not the target market for this apt. So no, not for me at a million or even 700k. I know of a few people (single parents with one kid) or retirees for whom the location is perfect and who would bite at the right price.

No. you can't have much bigger rooms in Murray Hill for half the price, but for the same price you
CAN have much bigger rooms. I just really don't understand why this apartment is considered such a good deal for a million dollars, come on, guys, really look at the floorplan.

i agree, many would make do at the right price. i just don't think this is there yet.

Still 50% overpriced after a 50% price drop.

AMAZING.

C & D lines were long skinny studios (long on the window side). It is a B- building (studios, 1 bedrooms, 2 bedrooms, much of the facade destroyed) in an A+ location. I can't say whether it's a good price or bad price because I am not able to put myself in the position of someone that would buy something like this.

I have a few friends for whom this would work - 1 child, 2 parents (or single parent) and no other child likely or retirees who want an office/small guest room and for whom this specific location on UWS would be highly desirable. $1m desirable, I don't know about that. But the small room wouldn't be an issue. Of all the unsellable apts on the market, this is not one of them.

I don't think any apartment is "unsellable" - the only question is "sellable at what price?". Will be interesting to track this one.

To refine the point, I don't think this type of apt has suffered as much in the way of price declines as other apts on the UWS. You would have to compare it to similar apts (good protected views, light, A+ location, doorman, B- prewar) on the UWS to get a sense of what the market would bear. I haven't been keeping track as I'm more in tune with family-sized or THs.

10023, some apartments fly off the market because they find someone just like you are referring to. maybe it will be snatched up, maybe it will sit. i'm just looking at this from the perspective of someone who looked at a lot of 2/2s on the UWS in 2000.

I think it is just this kind of apartment that appreciated dramatically in the frantic go-go years that will suffer in this cooler-headed market.

And I must say that I think that even AR, the "downtown girl" might move uptown for a large, sprawling apartment at what she considered a reasonable price - after, all,if something is not in your neighborhood, cabs and buses take you anywhere you want to go.

As in yes, I've been to Prune, several times.

I predict that this apartment will sell for $799K and that the offer will be accepted in March. Just my hunch.

I think we've already had this location debate. It all depends on your personal situation. I am not schlepping my kids to Central Park or Riverside Park by bus, subway or taxi. I like downtown and don't mind taking cabs for dinners out. I don't like Fresh Direct and need to pick my own food, and prefer to shop every day or every other day instead of bulk shopping. The list goes on and on.

We shall see. I know nothing about the acceptable price points of pied-a-terre demographic or one-child demographic for whom this might be a buy.

I was probably the target for this apartment (single, wanting an office/guest room) so I'll comment. (Now I realize that many people believe the UWS is the only place to live and may have different variables, for me it was on the consideration list but not an impertive.) The think the pricing here is 2007 and no way realistic for 2009. The master bedroom is really small, the living room is not large and their is only a part-time doorman. This is not the 2009 version of a million dollar apartment for me. Then again I bought at the height of the market in 2008 and still got what I think is a nicer place at a cheaper price.

Compare http://www.streeteasy.com/nyc/sale/413809-coop-164-west-79th-street-upper-west-side-new-york which has been sitting for months. It suggests price-chopping ahead for the 51 W81 apartment.

That's a B building in a B+ location. Even during the most bubblicious times, they had trouble selling a Classic 6 for 1.5m.

I realize that 81st and Columbus is a couple of hundred feet closer to the park than 79th between Columbus and Amsterdam, but the former is a traffic-clogged through street with 4-way bus traffic and heavy retail while the former is dead-end westbound, mid-block, wider and purely residential. There is a large difference in decibel-level, pedestrian density and traffic density in favor of 79th street.

I'd hit that w/ a bag over her head....LOVE LOVE the playground on CPW/81st... plenty of fond memories waiting for shakespeare in park and throwing a frisbee around.. oh hacky sack ( I kill on hacky sack... ) too....

But to the apt... $700K (done as a 2nd home).... if ended up in Westchester... but lemmings keep surprising me w/ how much lemming $$$$ they have... is it me or does lemming money smell minty?, just like they put it into a washer to clean it once in awhile?

Me, i like my money to smell like cocaine..... (strum Cocaine in your head)... now everyone together... 'Cocaine'.... fade out..... cocaine.....

Take a look at the non-combo units in the building which are the same size and what they have gone for.

Empty nester will pay high $800s. That's my call.

I'll take the "under" on that one for $100.

nyc10023 - what about the upper east side - near the park, etc and some really nice large apartments? With sometimnes much better layouts than the pre-war UWS.

I'll bet cocktails. Vodka or tequila cocktails.

Maybe it is a bit small for the price tag but it is in a good school region as well. Also the NHM across the street is perfect for young children.

Ph41: there is a small niche market for these types of apts, and the buyers are probably very location-specific. As in, if they were looking on the UES, they would never look on the UWS and vice-versa.

ddanyc: I've lived on the S. stretch of 79th bet. Amsterdam & Columbus and I agree that it is overlooked. The market has consistently priced the stretch of 81st between Columbus and CPW much higher. While you may be in favor of 79th over 81st, the market disagrees with you.

It's really a nice apartment, but cramped. Knock $250K off the asking price and it just might sell.

NYC10023 - Right- Sanford Weill moved across the park - to get something that he wanted-East side sort of guy to West side.
And frankly,don't you think the Upper West Side is more and more like the Upper East Side, without the closets and bathrooms (somehow the prewar UWS apartments don't have the closets and bathrooms to comparable ES places).

Interesting to watch this one. Went into contract pretty fast.