Walk-up vs. elevator

more than words can say.... do not do it.

Really? Even if it's A LOT cheaper?

I'm so eager to buy, but people on this website seem to agree that it's a big mistake to do so now. But isn't that when you can get deals...when everyone is fearful and frozen?

Depends on the apartment. If small and not to high up, maybe. Know that you will never be able to sell to families with strollers.

FWIW, if I didn't already own, I'd be looking to buy now.

Look at it this way -- for whatever you have to pay to get the walkup today, in 6 months you'll get the elevator, and 6 months after that you get the elevator and 25% of the price still in your pocket.

Oh, and in a year and a half, you probably get the elevator, the 25%, a doorman, and a nice view.

Personally, I don't mind walkups. I could use the exercise.

Also--I agree that waiting is the way to go.

It has NO view whatsoever and I didn't even think of the stroller issue for resale. It does have more space than I could afford at current prices in a nicer building . I probably should have some patience and wait. Thanks, guys/gals.

location,location,location AND an elevator/doorman

Although I wouldn't be a buyer now - I think this is a very legitimate question.

How much of a discount should you expect for second, third, and fourth floors? (At some level of discount it becomes a no-brainer - go for it.)

BTW, most townhouses do not have elevators and they are often prized lodging. About 25% do have elevators. How much of a premium for them?

Yes, an excellent question but in this case, one flight up doesn't seem like a big liability.

From a pure investment perspective (although I'd be buying to live there for at least 5 years) which is better, a 1 bedroom, 1 bathroom (~ 650 SF), cookie cutter, far from the subway, nice views , higher floor, doorman and other amenities or a 2 bedroom, 2 bathroom ( on the small side ~850 SF) that's close to one subway line, has no views, first floor walkup, no amenities other that washer/dryer in the building?
I realize that everyone has their own preferences, but just generally speaking, I wonder which is a better investment.

I'd say the 2 bedroom is better if you pay cash because they rent & sell for more, unless the view from the smaller 1 BR is really jaw-dropping. But if you need a mortgage then you probably shouldn't be considering either, rents are going down & so are prices.

you'll be able to buy a 2bd elevator, doorman building in a better area in a year for the price you are going to pay for that 1bd walk up now. It is your money to lose.

Everyone seems so sure the bottom is going to fall out of Manhattan real estate, but no one really knows. I see from this website that inventory is rising and there are certainly other problems (if the subway begins to really suck as it did years ago, for example, I think that can could be a huge blow to quality of life here). But it may be saved. Mayor Mike might get back in, which should be good for Manhattan. He understands that NYC has to be a desirable place to live and run a business. He also understands that it's not helpful to tax rich people and businesses right out of the city (and believe me, I'm not anywhere near being one of those rich people). Plus, because so much of Manhattan is co-op, I would think that most people were pre-qualified by the boards and also didn't buy with those funky loans making it less likely that they would HAVE to sell.

I'm not suggesting that Manhattan won't go down further, I'm just saying that no one really knows for sure as they seem to imply.

Not only can you forget about reselling a walk up to families with strollers, you can also cross off empty nesters and anyone who is close to older parents or grandparents or has other people they care about who are elderly/disabled.