FYI - That Tudor City penthouse sold in 2006 for $1.1MM. It was listed as #2209, and was described as an "elegant wreck". The asking price was $1.35MM.
http://www.streeteasy.com/nyc/sale/19616-coop-5-tudor-city-place-murray-hill-new-york
Whether the resale defies market trends really depends on the closing price and the extent of the renovation, which is hard to judge from the pictures, although the place looks nice.

22 became penthouse. clever.

AR - it was described in original listing (2006) as penthouse - and that floor is the penthouse.

WEst81st - if it sells for anywhere near the asking, it will definitely go down as one that defies market trends

note comment above: "depends on the extent of the renovation."

A while back there was a story in either the paper or a magazine about either that one or another double-height casement-windowed one at the top of the building. The kind of places I fall in love with, before the practical issues dawn on me.

Re. 30 Fifth Avenue #PH17F. Since there's no comp for the apartment, the relevant comparison might be "China Beach" vs. "Desperate Housewives".

CC: Re tudor city place- unless they gold-plated everything can't see how they could spend $500-700,000 on what is not a very large 2BR/2Bth,(and they aren't even showing pictures of the kitchen, baths.

Hope the buyer knows that the views from the apartment will be gone when the buildings go up on the East River.

since we don't even have the price at which it sold isn't this conversation a bit premature? especially for a comps thread.

AR - yes, probably is too soon, but since it went to contract so fast, a logical assumption would be that the selling price is not going to be 25% less than listing, which would still be quite a counter-market sale. Let's just see when it closes.

333 W. 56th - Parc Vendome
02/09/2005 Previous Sale recorded for $480,000.
06/20/2008 Currently Listed in StreetEasy by Halstead Property at $1,200,000.
02/04/2009 Listed in StreetEasy by Corcoran at $1,099,000.
06/20/2009 Listing entered contract.
08/06/2009 Listing is no longer available.
08/21/2009 Listing entered contract.
08/24/2009 Listing sold.
08/24/2009 Sale recorded for $987,000.
09/19/2009
Listing sold.

PV realty (PV stands for Parc Vendome), the seller of 4I in 2005 - it may have been an insider sale by sponsor in 2005, because large 1brs were certainly not selling at PV for 480k in '05. Ali/FP?

The original sponsor of Parc Vendome went bust and different investors snapped up different parcels (similar situation to 235 east 22nd Street) and then each had different methodologies of dealing with their piece of the pie. Ali probably knows more about what eventually happened, but even the amenities got auctioned off - I remember a foreclosure sale on the "gym" unit that no one seemed to want because the monthly carrying between CC and RET was huge. Anyway, there were a decent amount of "insider" sales way after conversion as a result of all of this, and I agree with nyc10023 that there's a good chance the 2005 sale here was either not arms length or to an "insider".

Interesting series of sales, of #1C at http://www.streeteasy.com/nyc/sale/391383-condo-248-east-31st-street-kips-bay-new-york

09/2009...$950,000 -25%
01/2007.$1,270,000 +79%
02/2003...$710,000 +34%
11/2000...$530,000 +129%
03/1998...$231,000 -3.75%
06/1987...$240,000 -4%
02/1984...$250,000 (new construction)

nwt, that's a brilliant find.

NWT, that's the bubble in a nutshell. Something like 500% appreciation in 10 yrs. followed by a steep-but-insufficient fall in the last two. The 2 sales in 2000 and 2003 are like connect-the-dots kind of markers. If Greenspan hadn't allowed the bubble to inflate after 2003, maybe we would be in line with inflation now.

very interesting. in 1998 the manhattan real estate market was significantly undervalued, so the massive increase to the 2000 sale makes good sense. 2003, ok. 2007, insane. 2009? we will have to see. but at least it isn't totally deranged.

A same-unit resale at the Navarro, http://www.streeteasy.com/nyc/building/110-central-park-south-new_york, gutted and co-oped in 2006:

11/2009 #24 $10,500,000 -29%
05/2006 #24 $14,775,000

The sellers are hanging on to #2B, the studio they'd also bought in 2006.

207 East 57th. 2 more trades bring the post Lehman data set to 3, following 4C (discussed on the first page of the thread) which sold down a bit from a late 2006 flip but still up from the original mid 2006 purchase from developer. The latest data points came in respectively down and way down from the original purchases.

#9A10A
11/02/2009 #9A10A $1,500,000
06/09/2006 #9A10A $1,550,000

#6B
03/18/2009 #6B $1,200,000 (closed in March but sale just recorded in ACRIS in Nov)
06/23/2006 #6B $1,552,831

some of the midtown buildings that were less desirable are seeing fairly significant price depreciation. the chesapeake house is one of them. 201 E. 28th The D and G lines are both jr.4s. evnyc, if you can stand post-war bland, this is in your price range in a non-fringe neighborhood.

10D, $640k 10/09, $676k 11/04
3D, 719 04/09, 675 03/06
8D, 905 12/08
14D, 940 08/08, 735 03/06
2D, 677 05/06

4G $630k 10/09
8G 878 06/07, 720 01/06
5G 720 01/06

#26C at Museum Tower: http://www.streeteasy.com/nyc/building/15-west-53-street-new_york

8/2009 $1,200,000 ..-14%
9/2005 $1,400,000 +217%
6/1995 ....$442,000 ..+10%
1/1987 ....$401,000 (new construction)

more new development pain. one of the earlier closings, so it may have entered contract earlier.

http://www.streeteasy.com/nyc/building/310-east-53-street-new_york
12/22/2006 Previous Sale recorded for $1,996,050.
10/14/2009 Listed in StreetEasy by Prudential Elliman at $1,795,000.

the orion

http://www.streeteasy.com/nyc/building/350-west-42-street-new_york
11/15/2006 Previous Sale recorded for $1,140,440.
02/11/2009 Listed in StreetEasy by Corcoran at $1,299,000.
02/24/2009 Price decreased by 8% to $1,199,000.
04/03/2009 Price decreased by 2% to $1,175,000.
04/23/2009 Price decreased by 5% to $1,120,000.
05/15/2009 Price decreased by 2% to $1,100,000.
07/10/2009 Price decreased by 5% to $1,050,000.
09/09/2009 Listing entered contract.
11/06/2009 Listing sold.
11/06/2009 Sale recorded for $975,000.
11/19/2009 Listing sold.

14 Sutton Place South - 2C. Just sold for less than the 2005 price

09/29/2005 Previous Sale recorded for $825,000.
09/17/2008 Listed by Brown Harris Stevens at $985,000.
11/08/2008 Price decreased by 10% to $885,000.
02/10/2009 Price decreased by 10% to $795,000.
05/13/2009 Price decreased by 6% to $745,000.
06/25/2009 Listing entered contract.
10/26/2009 Sale recorded for $660,000.
10/27/2009 Listing is no longer available.

Not just less than 2005, 20% less that 2005! Interesting since the low end of the market (for this purposes let's call low end sub $1mm in the bizarre price world that is Manhattan) has allegedly held up much better because it is accessible to so many more buyers, including those with non-Wall Street incomes, much of it is eligible for conforming mortgages, etc. Or not.