They might do better with a broker who does more business on the West Side. As for the tough situation, I agree. But if this is the listing I think it is, opinions may differ on whether the sellers are worthy of tzedakah.
I would like to get a hold of the tape measure that yielded 1,320 sq feet on this one. The seller/broker probably got it off a spam email advertising "condo enhancement."
The apartment is very pretty, no doubt, but it's in a marginal location, and the common space is small and awkward for a 2 BR. You either have to give up on having a dining area or have a pretty small seating area. Would it really surprise anyone if this ultimately went under $1M?
JohnDoe: Yes, it would surprise me, in part because there's no direct competition. If somebody wants an entry-level apartment at Ariel, I think this is the only option. I understand that the sellers are very motivated, but at least they aren't competing with similarly distressed listings.
For whatever reason, these apartments did sell for $1.6-1.7MM, when you factor in the extra costs of buying from the sponsor. A drop of 33% to around $1.1MM wouldn't shock me; but for this one to drop below $1MM - which is probably well below what it cost to build the thing - would mean a market niche that was very healthy a year ago has disappeared altogether. I guess that's possible. These are extraordinary times.
This apartment has way too much space dedicated to bathrooms for an apartment this size. My biggest problem with many high end new developments is this obsession with huge bathrooms. Why does a small two bedroom apartment need two HUGE bathrooms when the living/dining room is no more than 270 square feet? The master bath has two sinks and a separate shower and bathtub--this is mcmansion-style architecture totally inappropriate to an apartment this size.
When did it become normal for the master bath to be bigger than the kitchen? I don't like this apartment.
it is a shame this hasn't sold. it is a beautiful space but the owner is chasing the market down. too bad good broker good space tough situation.
They might do better with a broker who does more business on the West Side. As for the tough situation, I agree. But if this is the listing I think it is, opinions may differ on whether the sellers are worthy of tzedakah.
I would like to get a hold of the tape measure that yielded 1,320 sq feet on this one. The seller/broker probably got it off a spam email advertising "condo enhancement."
ariel includes unit's pro-rata % of common area in sq ft measurement! that includes hallway, elevator, etc.
That explains why they barely have any closets in this apartment -- it must be expected that residents store their belongings in the hallways.
The apartment is very pretty, no doubt, but it's in a marginal location, and the common space is small and awkward for a 2 BR. You either have to give up on having a dining area or have a pretty small seating area. Would it really surprise anyone if this ultimately went under $1M?
JohnDoe: Yes, it would surprise me, in part because there's no direct competition. If somebody wants an entry-level apartment at Ariel, I think this is the only option. I understand that the sellers are very motivated, but at least they aren't competing with similarly distressed listings.
For whatever reason, these apartments did sell for $1.6-1.7MM, when you factor in the extra costs of buying from the sponsor. A drop of 33% to around $1.1MM wouldn't shock me; but for this one to drop below $1MM - which is probably well below what it cost to build the thing - would mean a market niche that was very healthy a year ago has disappeared altogether. I guess that's possible. These are extraordinary times.
This apartment has way too much space dedicated to bathrooms for an apartment this size. My biggest problem with many high end new developments is this obsession with huge bathrooms. Why does a small two bedroom apartment need two HUGE bathrooms when the living/dining room is no more than 270 square feet? The master bath has two sinks and a separate shower and bathtub--this is mcmansion-style architecture totally inappropriate to an apartment this size.
When did it become normal for the master bath to be bigger than the kitchen? I don't like this apartment.
What happened -- is there a contract?
it looks like they just took it off the market, perhaps temporarily. no evidence of a contract.
happyrenter: I don't think taking it off the market altogether is an option in this case.
This unit is listed in OLR as board approved. So with all the doom & gloom people are still buying in NYC and will continue to do so. Merry Christmas!
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