June is here- Let the Chopping begind

NYC10007: about 11 months ago

no a chopper in the village with inventory so low. opps 8% in a month
05/13/2012
Listed by Corcoran at $1,295,000.
06/08/2012
Price decreased by 8% to $1,195,000.
http://streeteasy.com/nyc/sale/683570-coop-79-west-12th-street-greenwich-village-new-york

Laminate counter-tops and ugly postwar white-brick for $1.2 million? Definitely pushing the limits on this one based on location.

My feeling is any buyer in this price-range wants something that is already renovated (higher end...not mid-range rental like this one) so throw in another $100k to do this whole place properly (at least) or sell at a discount. A little on the small side for a family but a good starter 2BR...

A big ask for what it is, but location...location...location. Will be interesting to see where this one ends up.

Brooks2, keep your eyes on this one for us.

Brooks2: about 11 months ago

http://streeteasy.com/nyc/sale/652163-coop-7-west-96th-street-upper-west-side-new-york

Brooks2: about 11 months ago

33% choppers

06/08/2011Previously Listed by William B. May at $1,300,000.
12/08/2011William B. May Listing is no longer available. Last priced at $975,000.
01/05/2012Listed by Corcoran at $975,000.
02/10/2012Listing entered contract.
06/12/2012Listing is no longer available.
cut 11% sold $865k

Brooks2: about 11 months ago

chop chop chop.
01/13/2011
Previously Listed by Sotheby's International Realty, Inc. at $2,650,000.
10/30/2011
Sotheby's International Realty, Inc. Listing is no longer available. Last priced at $2,395,000.
01/11/2012
Listed by Brown Harris Stevens at $2,295,000.
03/21/2012
Price decreased by 2% to $2,245,000.
03/23/2012
Price decreased by 2% to $2,195,000.
05/02/2012
Price decreased by 2% to $2,145,000.
05/21/2012
Price decreased by 7% to $1,999,999.
06/09/2012
Price decreased by 7% to $1,850,000.
http://streeteasy.com/nyc/sale/653541-coop-860-united-nations-plaza-beekman-new-york

Brooks2: about 11 months ago

http://streeteasy.com/nyc/sale/643431-condo-327-central-park-west-upper-west-side-new-york
01/23/2008
Previously Listed by Corcoran at $1,895,000.
08/22/2008
Corcoran Listing sold. Last priced at $1,599,000.
08/22/2008
Previous Sale recorded for $(insiders only)
10/28/2011
Listed by Douglas Elliman at $2,100,000.
11/15/2011
Price decreased by 6% to $1,975,000.
12/12/2011
Listing is no longer available.
01/12/2012
Re-listed by Douglas Elliman.
03/15/2012
Price decreased by 8% to $1,825,000.
05/11/2012
Price decreased by 4% to $1,750,000.
06/07/2012
Price decreased by 3% to $1,695,000

Brooks2: about 11 months ago

death by a thousand cuts
http://streeteasy.com/nyc/sale/430335-condo-40-sutton-pl-sutton-place-new-york
06/20/2009
Listed by Douglas Elliman at $1,449,000.
06/24/2009
Price decreased by 5% to $1,375,000.
07/04/2009
Price decreased by 6% to $1,295,000.
07/21/2009
Price decreased by 4% to $1,249,000.
07/23/2009
Price decreased by 4% to $1,195,000.
09/18/2009
Price decreased by 6% to $1,125,000.
10/07/2009
Price decreased by 2% to $1,099,000.
10/29/2009
Price increased by 9% to $1,200,000.
07/28/2010
Listing is no longer available.
12/07/2010
Re-listed by Douglas Elliman.
12/07/2010
Price increased by 8% to $1,295,000.
10/17/2011
Price decreased by 3% to $1,250,000.
05/15/2012
Price decreased by 4% to $1,195,000.
06/07/2012
Price decreased by 4% to $1,149,000.

mpsrenovations: about 11 months ago

Its a whole new world out there today. Pricing right to sell, flip or renovate is key these days.
Everybody expects a "can you do better" on any price. Great thread.

NYC10007: about 11 months ago

tsargent, very well said. I agree with you 100%.

Last year, in a much softer market, I paid 5% above ask for my condo, which was still 9% below the 2007 purchase by the seller. But they priced it right and had 4 bidders, all who knew what the market was and what should be paid. Two of those offers came before the first open house.

All about pricing right...

caonima: about 11 months ago

you guys are crazy

the fact is, more and more unrealistic sellers don't need to cut and easily had their properties sold above the already insane asking prices

Brooks2: about 11 months ago

Of cse, your market is strong, all others are not. From a brokers mouth to your ears, no eyes.

tsargent: about 11 months ago

One thing to remember in the condo market - lots of money leaving the Eurozone right now and moving to the UK and New York real estate as protection against Euro issues, especially in the luxury real estate sector. The Downtown 3-4 market has been extremely busy since Jan 2012 with many properties that are priced correctly moving to contract within weeks of coming on the market, many with multiple bids. There are always going to be sellers who don't fully understand that just because market reports say the market is strong it doesn't necessarily apply to their apartment. Manhattan is micro-markets - not one market. UES/UWS 1br/Studios move differently than downtown or 2Brs coops vs. condos.

As a seller - pricing at the top is not always the best way to garner the top dollar. Many sellers fear that pricing 'close to the bone' that buyers will offer too low and want a discount. There are always those buyers but serious ones with a real sense of the market actually bid a lot closer to the asking price when it is actually close to what the market believes to be true pricing. In fact, move your property faster and for more when you price it correctly vs. just pricing high and hoping for that 'one'. The latter works in some cases - but you better have a top property and a close pulse on the market. In my opinion, the market is what has gone to contract in the last 45 days that is truly comparable to your apartment. It doesn't matter if 3 Bedrooms are getting over bids downtown if you are on Sutton Place and selling a 2Br coop. What's the competition? Right now? What else are buyers looking at? How long are they sitting there? Those pieces of information can help a seller and broker create a strategy. Monthly reductions because pricing was incorrect to begin with does not make any sense and sends the wrong message to the market. Both for the seller and about the market. Yes, I'm a luxury broker - hope this helps. Best, Tony

kylewest: about 11 months ago

Falcon, you are of course right. I saw it in person. Uber middling. But the building and location are baller. I was surprised it sold at is price and so fast. But it does reinforce stregnth of this area and these bldgs in gv

Brooks2: about 11 months ago

nyc10007.. thx your point was noted... was just trying to beat down a "troll" ... and you are right, I should go back to ignoring it(the troll)...
back to the Celtics

NYC10007: about 11 months ago

Brooks2, you're still not getting my point. I'm not disagreeing that unrealistic sellers are going to have to cut. Keep ranting and take a xanax. Might help with your anxiety.

Brooks2: about 11 months ago

ba294 is my new hero

falcogold1: about 11 months ago

kyle, allow me to remind you how the board beat the daylights out of that renovation. (focus was on the kitchen) Apparently there was a another that like the kitchen as much as you.

ba294: about 11 months ago

unrealiztic sellers with their overpriced apt will sit for years.
As long as you price them right, they will move. I just sold two properties above my asking price within 10days. It was more than what I had paid for in 2004 and 2007.

kylewest: about 11 months ago

Chop away but AAA still sells quick: http://streeteasy.com/nyc/sale/663623-coop-33-fifth-avenue-greenwich-village-new-york?email=true

i didn't even like the place.

Brooks2: about 11 months ago

i'd say mine is bigger than yours

Brooks2: about 11 months ago

http://streeteasy.com/nyc/sales/manhattan/price_changed%3C60%7Cprice_changed_pct:%3C=-5

columbiacounty: about 11 months ago

which is which?

columbiacounty: about 11 months ago

is one of you a dickface and the other a POS fucko?

columbiacounty: about 11 months ago

what's the difference between jimlittleboner 10 and jimlittleboner11?

jim_hones10: about 11 months ago

CUNTY, do you save things I say? How sweet. Do you think about it when you are kneeling between brooksie's legs?

jim_hones10: about 11 months ago

And what is the MARKET telling people who are out looking for apartments right now CUNTY?

columbiacounty: about 11 months ago

who is this poster?

jim_hones11
about 11 months ago
ignore this person
report abuse

Your response is equal to no response. The MARKET sets the tone, not fuckheads like you.

jim_hones10: about 11 months ago

here are a bunch of price increases:

http://streeteasy.com/nyc/sales/manhattan/price_changed%3C30%7Cprice_changed_pct%3E0

jim_hones10: about 11 months ago

keep going monkey boy.

jim_hones10: about 11 months ago

Brooks2
6 minutes ago
ignore this person
report abuse

435 days on market--
http://streeteasy.com/nyc/sale/594378-condo-100-riverside-boulevard-lincoln-square-new-york
06/20/2006
Previously Listed in StreetEasy, already in contract, by Corcoran at $1,925,000.
04/26/2007
Corcoran Listing sold.
01/25/2008
Previous Sale recorded for $(insiders only)
02/19/2008
Previously Listed by Circa NYC at $2,195,000.
04/03/2008
Delisted by Circa NYC.
12/03/2009
Previously Listed by Nestseekers at $2,250,000.
04/15/2010
Nestseekers Listing is no longer available. Last priced at $2,150,000.
03/28/2011
Listed by Blu Realty Group at $2,150,000.
04/12/2011
Price decreased by 2% to $2,100,000.
11/16/2011
Price decreased by 5% to $1,999,000.
05/02/2012
Price decreased by 3% to $1,949,000.
06/04/2012
Price decreased by 1% to $1,925,000.

Stupid owners. Stupid brooksie. Where is the news on the market you were supposed to get monkey boy?

Brooks2: about 11 months ago

cut over 10% in 3 months
2/28/2012
Listed by Charles Rutenberg at $930,000.
03/20/2012
Price decreased by 3% to $900,000.
03/27/2012
Price decreased by 1% to $895,000.
05/17/2012
Price decreased by 3% to $865,000.
06/04/2012
Price decreased by 2% to $849,00
http://streeteasy.com/nyc/sale/666045-coop-230-west-end-avenue-lincoln-square-new-york

columbiacounty: about 11 months ago

how can someone who appears to be so angry (that's you dickface) claim to be so happy?

Brooks2: about 11 months ago

435 days on market--
http://streeteasy.com/nyc/sale/594378-condo-100-riverside-boulevard-lincoln-square-new-york
06/20/2006
Previously Listed in StreetEasy, already in contract, by Corcoran at $1,925,000.
04/26/2007
Corcoran Listing sold.
01/25/2008
Previous Sale recorded for $(insiders only)
02/19/2008
Previously Listed by Circa NYC at $2,195,000.
04/03/2008
Delisted by Circa NYC.
12/03/2009
Previously Listed by Nestseekers at $2,250,000.
04/15/2010
Nestseekers Listing is no longer available. Last priced at $2,150,000.
03/28/2011
Listed by Blu Realty Group at $2,150,000.
04/12/2011
Price decreased by 2% to $2,100,000.
11/16/2011
Price decreased by 5% to $1,999,000.
05/02/2012
Price decreased by 3% to $1,949,000.
06/04/2012
Price decreased by 1% to $1,925,000.

jim_hones10: about 11 months ago

i love how you have cunty sticking up for you. do you polish his know so he'll get your back?

jim_hones10: about 11 months ago

ok dickface. I'll play. finding over priced listings is easy. because shithead owners overvalue their apartments. smart brokers get them to reduce to market, where they sell. so what you are doing a monkey could do.

now find some articles monkey, that speak to the weakness of the rental market in manhattan. do it quickly bitch.

Brooks2: about 11 months ago

so you did not understand the question. That would have sufficed.

columbiacounty: about 11 months ago

but....

dickface or POS fucko?

jim_hones10: about 11 months ago

why don't you post some links about the weakness of the sales market in manhattan? current articles, not from 2009.

jim_hones10: about 11 months ago

so all the people who comment here who are actually looking for an apartment to buy but can't find one are lying? or is it just more of your bullshit?

Brooks2: about 11 months ago

so hones is finding an overpriced apartment easy or difficult? or don't you understand the question?