$1.2 million price chop - must have something to do with that $8000 / month maintenance. Ouch!

Guess they didn't get much attention at $4.2m post-bubble (July 2009).

I'll bet at 1.8MM.........still no bites

From the listing: "*Actual maintenance is $8,532.40. The seller will give a rebate of $3,532.40 per month for three years, to be paid at closing. "

Broker-speak for "I can't do the math to say the ask is $127K less than listed, and I'm willing to bet you can't either."

WTF is with that maintenance? And there is a 2% flip tax. The maintenance on 14C (lacking terraces but sold for $3MM) is about half that. Yet, maintenance is less than 50% deductible, so this is not all underlying mortgage-related.

Actually what I think we have here is the CC of two apartments that were conjoined sometime in the past (just a guess). That is what might account foe the odd ball charges. Kind of an interesting quandry.
Like the totally hot chick in need of a life time of expensive unproductive therapy.

Another $300k off - cumulative price cut 64% and still going. Nice terrace though.

Isn't that the Gershwins' old place? The famous terrace?

Per the certificates of occupancy, the penthouse had two apartments until the early 1960s, when they were split into three. Then by the early 1980s this little one had the 16th-floor apartment added to it.

Sounds as if it's this murder site: http://www.nytimes.com/1982/11/12/nyregion/youth-charged-in-fatal-beating-on-riverside-dr.html

WITH THIS PENTHOUSE COMES A CURSE....
A 47-year-old man was found beaten to death last night in his penthouse apartment on Riverside Drive at 75th Street. According to the police, a friend found the man, Jesse N. Petchers, sitting in a chair in the living room of the duplex apartment at about 6 P.M. There was no immediate indication of forced entry into the apartment, but there were signs of robbery and a struggle.

Mr. Petchers was the son of Solomon N. Petchers, an immigrant from Turkey who became a realty investor and developer with extensive holdings in New York City and elsewhere in the country. The father died in 1966.

The younger Mr. Petchers, according to neighbors and relatives, had been ill for some years. He was twice married and divorced. The 17-story building where he lived at 33 Riverside Drive was owned by the Petcher family and was part of the elder Mr. Petcher's estate, which was administered by the son, until it was sold to other realty interests a few years ago.

Neighbors said that the slain man was rarely seen in public and was not known to have visitors.

Date published in the NYT: November 11, 1982.... Exactly 30 years from tomorrow.
Go ahead, sell it now...I dare you...double dare you.
Haunted Apartment for Sale....price $2.13

Rough trade.

For $8500 maintenance maybe the ghost accepts packages

This place would probably sell if priced at 1 mil

Alan - that spiral staircase is definitely a deal killer, and the little 2nd and 3rd bedrooms don't help either. Or the lack of decent closet space.

If I am thinking of the right bldg., it isn't one of the "nicer prewars" in the area and it reminds me of some of those sad Midtown-east prewars. For $8.5k/mo maintenance for a 3BR, people would probably expect a well-maintained white-glove bldg. This bldg., unfortunately, isn't really in that category.

So, the seller just has to find a buyer in that market segment who appreciates the giant terrace space, doesn't mind the generally rundown condition of the bldg., and, given the complete absense of the photos of the kitchen or the bathrooms [with the exception of the 1970s/80s fridge we can see in the living room pic]: (1) has the patience/means to gut the apartment; or (2) doesn't mind the poor condition of the unit...

Oh, plus, since this is a coop, foreign investors are out. Hmmmm.

Regardless of the murder, the $8600 a month makes it worthless and unsellable. It should be priced around $500k for the math to work. My hunch, it won't sell. Lets all check in here in the coming months and see....

So, a month ago I said it wouldn't sell and I was right. It has been 5 weeks. Since then, I have been to 10 or so open houses, five of which now have signed contracts. Lets check back in a month and I assure you this will be sitting here, burning up $9k a month in "maintenance" -- though what they are maintaining is a bit of a mystery to me.

Maybe for someone who could use part or all of it as an office (or offer it out for filming commercials, etc) and deduct some of the maintenance as a business expense -- although surely not permitted by the co-op.