A Family Considers 2BR's Under $900K

Rahter than having an apartment your not happy with and have a house in the country, I would recommend buying a better apartment and forgetting about the house.

Its interesting that we both felt more excited about these two spaces than we have on about a dozen others at the high end of our range.

What are people thoughts on what 35 West 82nd St. Apt 4C will realistically close for? It does seem livable for a starter family and is certainly not trying to get peak pricing (I think)

Maybe b/c your wallet just got lighter. Both look very nice! First one looks like it would feel spacious.

97th St. is a bit high up. I would not buy it, IMO.

also not a fan of the neighborhood, but apartment looks very nice.

Spinnaker1: Thanks for the excellent write-up. The 97th Street apartment looks charming, but the location and eccentric bathroom placement could give you migraines at resale time, even if they don't bother you too much now.

82nd Street is a whole different ballgame. 35/41 is a well-run little coop in a fantastic location. Excellent choice for young families (great trick-or-treat spot, for example). The "C" line at 35 has obvious issues: small rooms, one bath, and probably not much light on the fourth floor, despite the corner exposure. As you understand, these negatives are priced in; but at just 15% below a same-line 2007 comp three floors up, I'm not sure #4C is exactly a bargain.

If you like 35/41 but aren't sure about #4C, I can connect you with friends in the building who would know if anything else is likely to open up soon.

W81:.We wouldn't consider 97th for the reasons you state. Obviously 82nd is a fav. and I feel there is value at the initial offering price. Your inside knowledge confirms our gut feel about the building and your offer to connect us is appreciated. I'll be interested just to watch it and see where it goes. Like many others on this board, we are biding our time in our rental until we feel its time to pull the trigger.

West 81st and spinnaker, I also think 82nd is a find (not the price, though) for another reason, which is a good bldg. with low maintenance in a good PS zone. Personally, I don't care much for doorman or amenities and would gladly take the reduction in maintenance that comes without them (even a walk-up, to make things more affordable) but I have discovered that there are very very few non-doorman buildings in good school zones. It is also my impression that owning one floor of a brownstone doesn't solve the problem either, because the costs, disbursed among so few people, end up being the same. In the catchment of PS199 for example, even a place as huge and unpretentious as Lincoln Towers assesses maintenance of $1.5 per sq ft, more or less. I would love to find something at or below $1 per sq ft, but is a tall order. Comments?

spinnaker: just a thought. From a pure emotional pricing strategy. By looking lower than your price range, if you find something you like, you may inadvertantly bid too high because internal price "pressure" is no longer there. ex. you find the 899k, bid 850 and own it. Originally, you thought 1.3 was your target. Shop in the 1.8 range and stay strong at your 1.3 against the ask. Worse case, they tell you take a hike.

spinnaker, I am doing the same. Our top comfort level is 2.4, and I'm limiting my search to 1.7, with a strong focus on 1.5 and below. If you think another child is possible, you might want to go on your higher side and find something more flexible, but if not, I see nothing wrong with having extra cash at the end of the day and then deciding to do something else with it that adds enjoyment to your life. why not take advantage of lower prices to spend less?

patient09 makes a good point, however. we looked this weekend and my family was overjoyed at a place at 40 W. 17th, at around 1.7. I felt it was still overpriced and StreetEasy shows it closed for slightly over 1.4 in 2004. if you've been looking at a higher range, it IS sometimes easy to lose sight of the realities of today's prices. like you, we're in no rush and just looking around, so I suspect that we (and you) will adjust downward soon enough. happy hunting.

Valid point patient09. The numbers do become a little easier to stomach and I would say there is less of a tendency to walk on a property you really like. With that said, we would take into account further downward market pressure in any offer we would make today. We have been pushing the envelope on the high side for a long time so this exercise was a bit of an eye opener for us. In all likelihood we'll find ourselves somewhere in the middle when our time comes. Unfortunately there is not much good product in the middle of our range right now.

patient,

i really disagree with half of your post, but agree with the other half. first the disagreement: spinnaker has discovered one of the hidden secrets of real estate: there are good apartments and bad apartments at every price point. if he has found a good apartment that he likes at a lower price, why shouldn't he go for it? there's something else, too: if you spend less in absolute terms, you legitimately worry less about the direction of the market? if he spends 800k on an apartment and the market declines 25% he's out 200k--which is bad--but if he spends 1.3 million he's out 325k. given that his range only extends up to 1.3, i'm assuming that he would be able to financially survive the 200k hit a lot more easily than the 325.

now the agreement: at whatever range he looks in, he should consider what he considers the fair value for that apartment compared with the price. he should not simply get excited that the place costs less and pay more than necessary. a loss of 200k is a lot better than 325, but it's still awful and should be avoided.

alpine (and others),

one of the pitfalls of a new york real estate website is that the people here think new york real estate is everything. i mean, if the man can save 400-500k, and with that money buy a beautiful boat or a small country house that will make a significant positive difference in his life, you think he should forgo those options in order to buy a more expensive apartment? certainly if he can't find something he likes that leaves enough money left over for those other things then the primary residence comes first. but let's keep things in perspective: an apartment is a place to live. it should not be the focus of your whole life.

spinnaker,

this is a great thread thank you for starting it. if you can find away to live in a smaller space i think you should do it and enjoy yourself and shore up your finances with what's left over. i have a much more flexible budget and i've been trying to find a classic six or classic six facsimile downtown, but it has occurred to me that i keep seeing really lovely smaller apartments and nothing that lovely in the size i've been focused on. i am also starting to think about whether it really makes such a difference to me to have that much space. this real estate market is an opportunity to get a better apartment than you thought you could. but it is also an opportunity to simply spend less money on an apartment.

on the other hand, i have a baby grand piano, which doesn't look or sound good in a small space. so we'll see.

happyrenter, I have the baby grand too. almost as bad as another kid in terms of space needs.

apinnaker, I also am finding little in my middle price range, but I'm starting to see some. patience, i think (as if waiting three years already doesn't constitute patience!!)

are you only looking on west side? this one (mine) seems to be same size, same price range, etc:

http://web.me.com/seif69/11K/HOME.html

zoned for PS 290 - doesn't get much better
low maintenance ($1193.31)
2 big bedrooms
full-service, doorman
and more, more, more

take a look

Happyrenter: You hit the nail on the head -our of quality of life is not necessarily a function of maximum square footage.

my take on the whole upper or lower end of the range is this: if the upper end of the range puts you in any type of financial stress, then lower that upper end of the range. otherwise, go for the upper end of the range and look for the best value. given the price points we are talking about, you may need more space eventually with a bigger family. also, people tend to outgrow small 2bds and the last thing you want is to deal with huge transaction costs both in and out to upgrade in a few years. not to mention the hassle of moving and perhaps most importantly, a potential mark-to-market in a few years.

spin: One point of rehash, clarification. I never suggested to get a "larger" apt. I simply suggested, don't dismiss the more expensive because a greater discount may be available. Your comment about "the higher end of what you can afford" has tremendous merit but HR and all others have no idea how you calculate that and what is left over for life's other pleasures. My OP was actually referring to any or all of the following, better neighborhood, higher floor, better light, school district, and yes square footage. I clearly fall into the camp that my housing expense should be as de minimis as possible. But my choices and values have no impact on you. Simply trying to offer ideas...peace.

"but it is also an opportunity to simply spend less money on an apartment."

happyrenter,

I think this is a really great point, and a pretty plausible explanation for why the high-end seems to have been hit so hard of late. My guess is you just won't see as many people really stretching themselves, which never should have happened in the first place anyway.

Good points S_K. If the lower end of the range opens up opportunities for escape outside of the city that the larger apartment doesn't, I would argue that the larger apartment will begin feeling smaller.

Spin 1 - another thing to consider, the square footage for the apartment appears to be about 750. Again, I don't believe in buying square feet, you buy a home, but it is something to consider as you prepare your offer. We are considering listing our property a little later this year. It is around 1000 sq. ft., similar building to 35 w. 82, 1 block down and full of prewar charm. Similar to the place you are looking at, rooms are about twice the size each, living room is about the same, but dining area is smaller (fine for our family of 3, soon to be 4). Fully renovated bath and kitchen just 9 months ago. We are planning on listing around $995K and would be happy to work with you in the absence of brokers (we bought our first place with no brokers on either side, and our current place with no buy-side representation). If you have any interest, let me know and we can figure out a way to connect.

>>> everything. i mean, if the man can save 400-500k, and with that money buy a beautiful boat or a small country house that will make a significant positive difference in his life, you think he should forgo those options in order to buy a more expensive apartment?

completely agree - if i could find something i was comfortable in that also afforded me the opportunity to have a second country home, i would forgo the extra space in the city. especially in the summer, it's nice to get away. this is always a matter of personal preference, but as much as i love the city, it's nice to have somewhere to go. the issue is if a second child comes into play and an extra bedroom is needed (which it wouldn't necessarily be anyway - kids can share rooms although if they are different genders it gets awkward at a certain age). personally - i don't think we're too far from finding decent 3 bedrooms for $1 million - $1.25 million even in good school districts especially if you don't need a doorman.

kspeak:

that's a different point entirely and you are absolutely right. it is a good idea to wait: prices come down on a daily basis and the inventory just grows and grows. as a general matter, though, there is nothing wrong with spending less than you can afford on an apartment and using the extra dough to enjoy your life.

W81: What do you think about 17 W 71st? There are 4 back-side apartments for sale in it, and 3D shows it can pretty easily be made into a small 3-bed, 2-bath. Are there any issues with the building that you know of? CCs seem ok.

"i mean, if the man can save 400-500k, and with that money buy a beautiful boat or a small country house that will make a significant positive difference in his life,"

My point was that she should forget about the country house if the house would mean he would have to live in a tiny apartment, making life difficult for his kids. Plus, the 1 bathroom can make life difficult. If you can afford a 2 bed/ 2 bath, then I would definitely buy it even if it is more money and means forgetting about the country house.

xellam: I don't know the building. Since the footprint looks like ~1100 square feet, the maintenance seems high and space would be awfully tight if you used it as a 3BR.

ok alpine, you repeated your point and added nothing to address what i wrote in response to you. if you are correct that the apartment is so tiny that it will make 'life difficult for his kids' then obviously he shouldn't buy it. as i wrote in my original post, any thought of buying a boat or a country home presupposes that a decent primary residence has already been taken care of. the point is that if he feels that these apartments are big enough and that he can save 500k for other purposes, why shouldn't he? it isn't necessary to buy the biggest possible apartment.

xellam - saw 17W71 3D - needs a ton o' work, low 6 fig reno required

"if he feels that these apartments are big enough and that he can save 500k for other purposes, why shouldn't he?" - - this is a no brainer!!! Why are some people not getting it and others shoving it down throats.

Thank you for the input West81st and romary!

OTNYC I'd love to find out more about your property, but I'm new to this--how would we connect offline?

Keep in mind this is an academic exercise that demonstrates (to me at least) that options not previously considered are being presented in this declining market. The mettle of my conviction will only be tested when it comes to signing on the dotted line for a smaller apartment. Still many months away, I might add.

uwsmom - Some people have their own strong opinions. Often so strong that they presume others who think differently must of course be wrong. Exhibit 1 is anyone staunchly on either side of our country's politics.

In 2000 it really wasn't that hard to find a 2 bed/2ba of a decent size (1150-1250 sf) for around $600K on the UWS, so who knows, when you sign on the dotted line it may be a smaller amount for a not-smaller apartment.

well, you could exchange e-mail addresses if you want to talk offline.

AvUWS - exhibit 2 might be any centrist who assumes that someone leaning strongly one way must be wrong.

wait: strong political convictions are now a bad thing? wow.

I think you are both misreading AvUWS's comment
I also think politics does not belong in this thread

this is just silly. of course i think other people are wrong: racists, homophobes, holocaust deniers, etc. etc. am i supposed to say that i think they are right?

i misinterpreted this:

uwsmom - Some people have their own strong opinions. Often so strong that they presume others who think differently must of course be wrong. Exhibit 1 is anyone staunchly on either side of our country's politics.

doesn't seem very hard to understand or interpret.

I don't think I was misreading it at all.

Sorry - I was referring to the first part, not the second. Plus, am trying to chase a "fast crawler". I shouldn't be on here.

So, anyone find another nice 2 bedroom?

Spin,
Liked the 82nd street apt. The wood thing works as does the park. A tight fit for the fam and the dog but that what Tokyo inspired living is all about, ten pounds of you know what in a five pound bag. I also think this apt is priced fair. By fair, close enough that a low bid might not be an insult. Forget about yesterday.You are in a desending market with only speculation as to when it will bottom or when it will reverse. Offer 15% less and dig in. I mean dig in. Time limit your offer and infor the sellers agent that it's a taske it or leave it offer and the seller has 72hours to respond or the offer is recinded. Be specific about NO counter offer. You my friend, are a bird in the hand. To let you fly would be an ultimate act of wishful thinking. Their agent will push for you because...well...the agent probably misses the taste of food.

uwswannab - if you wanna leave an email address where I can reach you, will be happy to tell you more and arrange a visit. All my email addresses include my name so would rather not post here. if this doesn't work for you, let me know and we'll figure something else out. If you are a broker, I am not interested - prefer to give it a shot ourselves.

For those who want to connect offline, here's what I'd do- create a junk gmail address which is your streeteasy name + gmail.com. Then post it here, but post it as name at the address dot com, instead of name@address.com, since that's harder for webcrawlers to scrape and spam. OTNYC, this wlll be useful anyway if you're planning to sell your place in the near future, as you may want to separate re related emails anyway (and prevent brokerage spam to your real address later).

Also, I pity the person with the email address name@address.com; he/she must get a lot of spam

Can someone please tell me how the thread went from discusssing 2 bedroom apartments to holocaust deniers? This is Street Easy people, not Daily KOS.

wishhouse - great idea. uwswannab, you can reach me at otnyc1 at gmail dot com.

alpine,

daily kos? with all the right with paranoia on here i thought it was nro.com.

35 West 82nd St. Apt 4C is now in contract. More proof that good properties, priced well, are selling.

good properties priced well sell in any market. that's the point: there are sales at every level on the way up and every level on the way down. the relevant point is that 'priced well' is not a fixed concept: it has to be 'priced well' relative to the actual market conditions, not to the conditions that used to exist.

PS 9 is horrible. Stick to 87 or 199 on the UWS.

District 2 schools are best post-elementary. FWIW.

Real estate is a consumption item, not an investment per se.

Spending less is always good.

You might get a 3 bedroom for 900K if things continue their downslide.

bronxboy,

if 3br comes to 900k, I would suspect unemployment would have to be double digits combined with 8-9% interest rates (thanks to Feds printing press)..

Definitely possible but equally horrible :)

bugelrex, 3brs were 900K and less in 2003-2004 when the economy was chugging along and both unemployment and rates were below 6%, if I remember correctly. And that was already after a run up of 30% since 2000, so it's not like I'm advocating a return to 2000 pricing. Inflation has not been terribly significant in the last 6 years and the economy is collapsing big time. Your assertion has no basis in reality whatsoever. 3br can and most likely will be 900K and less in coming years, just because of the bubble's inevitable bursting. The fact that this bursting is bringing the world economy down may be the kind of double-whammy that will bring them further down. (800K? 700K? very possible) The truth is that it wasn't necessary for the world economy to crater to bring RE back to earth. But now that it's happened that just one additional reason and one additional force driving it DOWN. Brace yourself.

if prices drop to 2000, we are in serious trouble

3-bedroom apartments in Manhattan were not $900k in 2003-2004. That is just a ridiculous statement. Any decent two-bedroom was over $1 million by 2003, and 3-bedrooms were that much more.

You can get a 3 bedroom for less than 900K in a nice building in Harlem now. In six months, 3bedrooms might be available on the UWS and UES for 900K. Sad, but true.

http://www.streeteasy.com/nyc/sale/349713-coop-25-charles-street-west-village-new-york

West Village 3-br for $965k and dropping.

evnyc You or "They" must be kidding to offer this as a three bedroom, right? It's a joke right? I get it. You are not serious, I get it.

Floorplan calls it a 3-br. Weird layout and lack of measurements notwithstanding, there are 3 rooms, a kitchen, bathroom, dining room and parlor. Just saying, they exist.

Oh, I see

OK. I'm really sick of guys like these posting a blatant lie without any basis in factual data. Our beloved LICCcomment (who, for those who haven't here enough, is LIC's chief cheerleader and, therefore, has no moral standing to consider any part of the UES not decent), says:

"3-bedroom apartments in Manhattan were not $900k in 2003-2004. That is just a ridiculous statement. Any decent two-bedroom was over $1 million by 2003, and 3-bedrooms were that much more."

Here's a list of just a few perfectly decent 2-3 br. currently listed in Streeteasy which sold in 2004 for less than 1M and as low as 420K. BTW, you can read the current asking on some of these and just laugh. They'll come to their senses, or else...

1641 Third Avenue #27F
330 East 79th Street #4A
444 East 86th Street #18B
402 East 90th Street #1A

Let me see you list 5 3-bedroom apartments that sold in 2004 in good areas in Manhattan for $900k or under.
Tromp - don't get too upset that I called you out on your nonsense statement.

Happyowner wrote: "PS 9 is horrible. Stick to 87 or 199 on the UWS."

Let's give Happyowner the benefit of the doubt and assume the reference was to PS 9 GenEd, not to the highly-regarded G&T program.

Actually, the GenEd program itself is fine - the teachers are all G&T certified, and the school is scrupulous about equal division of resources. The main problem, IMO, is parent involvement. Because the more - shall we say - committed (OK, obsessive) parents in the catchment stop at nothing to get their kids into G&T, GenEd tends to be left with less involved families.

It's a two-tier school, no doubt about it, with a G&T caste that is very white and a GenEd caste that is very brown. That's a problem, and sharing a building with the super-selective Anderson program has probably accentuated the divisions. But horrible? Not by any objective standard.

LICC, getting upset at you (or debating you) would be a royal waste of time. I posted the few data I could find for the enlightenment of people who may be knew to this forum. Streeteasy doesn't have any tools for tracking old sales and what I posted came from searching 3bs on the UES for less than 1.5 M and checking which had 2004 or older sales. It was time consuming.

What I would propose (not to you, of course, since it would go against your interests) is to create a thread that functions as a bank of yearly comps, for people's info. In fact, I think I'm going to do it right away.

Kids can live in a small space, but I have to say, if you work full time and have kids, a friendly, observant doorman is a real asset. He can tell you whether the sitter puts a hat on them, whether they look ok when they come in from school, or, later, what time they come in at night. I moved to the West 90's to be near my kids' school and found it a very congenial neighborhood with good playgrounds etc, but I don't think i'd have been comfortable without a doorman.

LiCC is this a joke:
3-bedroom apartments in Manhattan were not $900k in 2003-2004. That is just a ridiculous statement. Any decent two-bedroom was over $1 million by 2003, and 3-bedrooms were that much more.

do you actually know this little about real estate in new york city? there were plenty of very nice two bedroom apartments in various manhattan locations selling for a lot less than $1 million in 2003, just as there are plenty of nice two bedroom apartments selling for under $1 million now. as for three bedrooms, there were plenty for sale for 900k in 2003. were all three bedrooms that price? obviously not. but there is an enormous range in price for one bedroom apartments, two bedroom apartments, three bedroom apartments, four bedroom apartments, etc. etc. i could buy a one bedroom for 350 k or for 5 million.

happyrenter, your comment is silly. In 2003-2004, the market for 2-bedrooms in luxury doorman buildings in good areas was over $1 million. Sure, a percentage of apartments at the time were less, but the majority of the market was higher. As for 3-bedrooms, which was the subject of the original comment, maybe you can dig up a handful for under $900k at that time, but you have to be clueless to think that the market for good 3-bedrooms in good areas in Manhattan was $900k in 2003-2004.
It is amazing how biased the renter bears can get.

LICComment, so you only consider decent to live in a luxury doorman bldg. in the poshest area of Manhattan? But you're the same (place your noun of choice here) who advocated LIC as paradise? And you're a big enough liar to say that most of the 2br market in 2003 was over 1M?

spinnaker1

35 West 82nd St. Apt 4C "BACK ON MARKET", the listing is showing as available... more proof that New Yorkers are getting nervous, laid off, reduced salary, more picky, loosing money in the stock market

Can someone find out what happened... does look like a 'decent' place

you said:
"35 West 82nd St. Apt 4C is now in contract. More proof that good properties, priced well, are selling..."

so it has fallen "out of contract?"
tough situation. 10% deposit is a hefty price to pay for being nervous and also a tough hit to take if you just lost a job.

Hard to say. The realtor said they had an accepted offer last week. Maybe it fell through or the agency feed isn't reflecting actual status. Its not clear to me the point at which the "in contract" status change is made. Anyone know?

There's a thread on this apartment
http://www.streeteasy.com/nyc/sale/385327-coop-181-east-93rd-street-carnegie-hill-new-york

2 bd for $479K. I went to the open house. Both beds are good sized. Kitchen is narrow. Living room OK. Bathroom typical manhattan (small). There is no closet in the 2nd bedroom. Bedrooms are split on either side of the living room. It's advertised as 1000sqft my guess is more around 900-925. It was listed for $850K previously. Apparently it's the owner's second home and they want to get rid of it.

I don't know if it would suit your purposes , but you may want to check it out as the price is right. although the agent at the OH - was telling people they had to bid over the asking.

We are limiting our search to UWS because our kid is in school there. Thanks though! It will be interesting to see where the 181 E 93rd saga ends.

spinnaker1,

If 35 West 82nd St. Apt 4C really fell out of contract and the seller did not pocket the 10% deposit, it could be a good time for a low ball as they must be getting nervous especially with DOW at 1997 levels..

spinnaker1,

If 35 West 82nd St. Apt 4C really fell out of contract and the seller did not pocket the 10% deposit, it could be a good time for a low ball as they must be getting nervous especially with DOW at 1997 levels..

spinnaker1,

If 35 West 82nd St. Apt 4C really fell out of contract and the seller did not pocket the 10% deposit, it could be a good time for a low ball as they must be getting nervous especially with DOW at 1997 levels..

spinnaker1,

If 35 West 82nd St. Apt 4C really fell out of contract and the seller did not pocket the 10% deposit, it could be a good time for a low ball as they must be getting nervous especially with DOW at 1997 levels..

spinnaker1, what about these?

http://www.streeteasy.com/nyc/sale/362995-coop-50-west-106th-street-manhattan-valley-new-york
http://www.streeteasy.com/nyc/sale/383767-coop-235-west-108th-street-manhattan-valley-new-york

...and this one:
http://www.streeteasy.com/nyc/sale/376118-coop-308-west-103rd-street-manhattan-valley-new-york

Just saw the status change on 35 West 82nd St. Apt 4C.

Westelle - I wouldn't touch anything north of 92nd right now. If I was to go small it will be because I want to get into an outstanding location and good PS school district. Thanks!

Spinnaker1: If you're still looking (it seemed that you might have decided to rent instead), this new Elliman listing may be of interest:

http://www.prudentialelliman.com/Listings.aspx?ListingID=1085106

Cute old building, low expenses, great location - between the Alden and the Bolivar. The listing doesn't provide much info about the layout, elevation or exposure so far. Obviously, it won't be park-view.

Nice find w81. We'll check it out. Thank you.

I could be wrong but it looks like 1st floor. LR faces across 83rd to the Bolivar. Master faces intersection of CPW and 83rd.

Good catch - looks like they tried to hide a car with a window box.

Spinnaker: Here's another 2/1 that was just reduced to $895K, listed with the same Elliman team that has the 97th Street apartment you liked. (I think they live in the building). Similar style, better location.
http://www.prudentialelliman.com/Listings.aspx?ListingID=1052124

I've always liked 194 RSD. It's very "Old Riverside Drive". The price is probably still a bit high for the second floor in this environment.

The 194 RSD apartment is spacious and has nice closets, but a very awkward layout, one bathroom. acres of Aunt Dottie's wallpaper to be stripped and is basically pitch dark. It is a charming building at a nice spot. The price is probably getting close to reality now.

Both are second tier building that will take a long time to sell in this market.

West81st
are you a broker

This 194 RSD apt being discussed is another example of square foot inflation:

http://www.prudentialelliman.com/Listings.aspx?ListingID=1052124

I (generously) calculated it to 1100 sq ft NOT 1300 sq ft. Not to mention
that a lot of it is in very awkward closets!!!

This makes the listing more than 18% off the truth, which I think people
would agree is beyond the "customary" (but still ridiculous) "calculation
error" of ~10%...

AND in this case the brokers are using it as a selling point to advertise
per $688 psf value!!! Which with the TRUE sq ft is more than $800 psf!!!
Isn't this cheating?

The square footage is extremely exaggerated and the photos are not true to size. The kitchen is tiny and the second bedroom I think would work better as a second closet than second bedroom--its small! That said, I thought it was a very cozy apartment. It did have nice 'cozy' feeling that I haven't found in other nyc apartments. I thought that was its charm and not the size which is very much exagerated.

ddanyc/uwswannab: Thanks for the info. I should know better than to highlight an apartment I haven't seen first-hand.

Idiots101: My last name isn't Zweben, if that's what you mean. Why do you ask?

It sounds like my parents when I was a kid...every Sunday we would go look at houses.
My parents were Depression Kids...they were scared, they never bought. This was the 1960s.
Oh how I wish they had bought that house in Valley Steam, 3 floors, 3000 sq ft 36,000 dollars.
Why oh why didn't they?

35 W82 #4C closed this month for $790K. #7C now looks ambitious at $899K.

Seems like a civilized deal in my book. Owners wanted to sell, so they sold to the market within a couple of weeks. They do not appear to be driven by greed, perceived value or a disconnected agent. 7C is now in bold play and need to look hard at any offer coming their way.

I have an accepted offer pending - just waiting for the contract. I won't even give you a hint as I'm sure you would guess where in a second. So I'll sit tight for a few months and then fill you in. But its truly a kick-ass apartment. We didn't manage to keep it under 900k, or $1.2M for that matter, but we are satisfied (read: thrilled!) nonetheless.

The niche market for sub $1M 2br's on the UWS seems relatively healthy. We laid down offers on 3 places in the last month and missed out on all of them as we weren't prepared to enter into a bidding war. There are lots of choices and lots of deals happening -at least within my limited sphere of vision.

I am intrigued by the division in market philosophies right now. Its analogous to our politics -firm, unbending belief on each side of the argument. We just wanted to lock-in our future and get busy living again. It feels pretty darn good.

Spinnaker1: Congratulations! Good luck with the endgame.

I do have a guess, but I'll keep it to myself unless you want to field it via e-mail.