17 Cornelia Street #1A
2 beds•1 bath•789 ft²
Condo in West Village
2 beds•1 bath
Rental Unit in West Village
155 West 11th Street
3 sales•3 rentals
Hey Primer05, do you do high quality for cheapskates?
Change/repair cornice and other FISP related work? Do you do this type of work? We have some bids but they are expensive. Looking for more reasonable price. I would think people who work on brownstones may be more reasonable. Thank you.
What are you looking to do?
Does any one know any contractors who are reasonably priced? We have some quotes but they seem to be very expensive for what it is. Thanks.
Doesn't matter when you moved out.
When did you give notice?
It's not 30 days, it's monthly. You need to give notice before the start of the month, as you pay a full month at a time, not for partial months ie days.
If you gave notice any time in September, then you are done at the end of October. But if you waited until October, then yes, you pay October, and you pay November.
I'm not sure that's right. The whole point of a month to month lease is that it's only good month to month and either side can give notice within one month (30 days in NYC). Your landlord may include all sorts of provisions in the lease but that doesn't mean they will hold up.
If your deposit is same as your rent, there won't be any legal action (for what?) but why give your landlord that money? FYI - the landlord is required to give you back your deposit within a certain period of time and provide an itemized list of repairs if they use the deposit for something (forget what time period exactly) so keep that in mind too. And if they re-let your place as of November 1, they certainly can't keep your deposit and ask you to pay rent so something else to check. Finally, if they haven't been keeping it in escrow that's another basis to get your money back. NY has a lot of tenant protections. I think you'll be okay if you just do some research.
I was told I was in a month to month lease after I completed my year lease with my current rental company. Having said that I assumed that ment I had to give a 30 day notice but turns out its a 60day. I Closed on a new home and completly moved out mid october. With the 60 day notice I still have to pay for the month of Nov. Now im paying on my morgage and rent on a apartment im not living in. I am considering just not paying for the month of Nov and eating my deposit. I really cant afford to pay for that much in one month. What is the likley hood of legal action if I did do this? Also any suggestions on what I could do in this situation or am I just out of luck? Thanks.
sf212 - I worked with Dan Gotlieb at Digs Realty (www.digsrealtynyc.com) - a rebate broker - and he was fabulous! There was never a problem with the brokers on the other side of the deal (he engaged many, as it took me a looooong time to pull the trigger and buy a place). My understanding is that in Manhattan (and a lot of Brooklyn and Queens), most brokers are members of REBNY which requires them to work with each other and split their commissions. At the end of the day, Dan gave me back 2% of my purchase price and added a ton of value in ways I never thought a broker could. To be honest, before Dan, I was not a fan of brokers. Now, I see the value they can bring if you can find a good or great one.
steveF & MattThompson - I 100% agree with you. With search websites like StreetEasy these days I'm not sure what the value of a broker sending you listings is anymore. I usually have already seen the listings my agent sends me once in a long while when he thinks of me .. it's not so much value add.
Agree on the rebate idea, if there is a way to get them to give me part of their commission to cover my Mansion Tax, done! I'm all for that, at least there is some monetary value add there. Any recommendations? Hauseit seems to be the most established player in this space, others are mostly mom and pop shops which I'm worried other brokers will probably hate..
agree with steveF completely. unless one does not know how to use the internet search service at all, then perhaps a buyer's agent can add some value. however even though they say you're not paying them directly you are, through the seller. I made the mistake of using a buyer's agent, and all she cared about was closing the deal. She is very nice, polite, charming and efficient - but not worth paying for in my opinion.
If you're buying a coop, the boards are less difficult these days so those days where the buyer's agent can fill you in on information about the board is not as relevant these days. My buyer's agent used the opportunity to get me to provide more information than needed on my finances for the coop board- just for her benefit so she could sell me another property later on. In short, I did realize what she was doing after awhile, and I no longer do business with her, or refer people to her.
One is certainly not going to be able to become an excellent negotiator by referring to the Internet. Being a good negotiator means that the broker knows the market. This is one prerequisite. Lots of hands on experience is most important. And there are some very good brokers who take pride in their work and know that putting the interests of their clients first is far more important than anything else. And a satisfied client will even give referrals and may turn into a repeat customer. It's known as building ones business.
Ellen Silverman,Real Estate Broker
Licensed Mortgage Broker since 1990
bravo 2013nyc!...agents are only concerned with the close "ABC". They are actually working against you(their client). They indirectly or directly pressure you as a buyer or seller to accept the offer. Why? To get the deal CLOSED. Your agent is actually working AGAINST you. Desperately trying to get you to accept anything. It's a CRAZY racket the broker industry has. It's ripe for the industry disruption that is happening now with the new business models.
For closing my co-op I need to have a certain amount of liability insurance. As a first time buyer, and of course a first time buyer in NYC, can anyone recommend companies that can offer the most competitive prices?
Thanks a lot
I'm a New Yorker, so excuse my ignorance - what is a stove and what is a dryer?
6 days for "wash and dry" service is long. About 5 days 16 hours too long.
Think twice about renting here. Yes, the views are great. However, not much else is good about this building. Since September 28, 2016, there has been no gas for the entire building. Managements accommodation, since tenants can't use their stoves or ovens was to give residents 2 burner cooktops. Also, you are unable to do laundry since the dryers are heated by gas. Management's accommodation is to pay for wash and dry service - this service has a 6-day turnaround time, which creates lots of challenges, especially for families with kids. It's now the end of October and there is still no gas. The only rent adjustment that management is giving is a decrease of 10% of November rent. In addition to the gas issues, there are a number of other maintenance issues. Lots of drafts. Heating and air conditioning expenses are very high.
I support this bill 100%!
Fully support it, and wrote my legislators and the governor recommending its passage when it was being considered.
Great bill. Fully support it for multifamily units. Single family houses are fine for airbnb.
I hate that they had to legislate this. However, besides them taking apartments off the market, they often cause disruptive behaviors in rentals, coops, and condos.
I lived in a condo where one woman ran her place as an airbnb all summer claiming relatives were coming to visit and watch her apartment when they were away. She left the names of the "relatives". One "relative" was worse than the next. The last straw was when her "relatives" came home drunk one Saturday night and stopped up the toilet in the main bathroom. The water overflowed for 12 hours and went down FOUR floors. A lot of people were away on the weekends in the summer, so the overflow was not noticed until the water started pouring into the public hallway. The person living below even had water coming out of the electric outlet. Of course, the home owner had no insurance. What a mess.
I'm looking for a dwelling fire insurance policy. It's a policy that's basically a no frills version of a standard homeowner's policy. It covers the dwelling itself from hazards to the home itself but not the personal items within the home. This policy can come with liability coverage too. Can anyone recommend a decent one?
Yeah, and many of the casinos in NJ also took down the Trump names.
Check these out on Trump Tower: http://ny.curbed.com/2016/10/25/13405036/trump-tower-residents-list
There's a story in today's paper about tenants in the three Riverside Blvd rentals (140, 160, 180) petitioning the owner (Equity Residential) to take the name off and just use the addresses. No go yet, but they're getting new rain mats and new uniforms without the tainted name.
Turns out, no mention of licensing in Trump Palace's offering plan or condo declaration. Trump is the sponsor, so has rights as long as he owns any unit. Maybe the license is necessary only when he's not the sponsor.
Either way, the big shiny brass Trump signs on Trump Palace need some shining. The big one at the Third Avenue corner is all tarnished.
I'm willing to be there's a way out of the name licensing agreement.
FYI, the doorman here is VERY part-time, despite having hours of 8am-8pm or midnight. As in, hardly ever there during the day when he is supposed to be and the door is locked.
We were at about $250, but that is with our own sourcing of materials. I think roughly $350 is about right with a design build firm. I did like our contractor, the finish work was very good.
One thing with a design build firm is to make sure you understand how they will source and any limitations.
With design build, as long as you know what you are getting into, they are a good alternative. At times you may be forced to source thru them and pay their price because of time constraints. So plan
accordingly and be aware of time frames on when specific materials will be needed.
$300 with finished material but with new windows and HVAC it could cause the price to go up more depending how involved it is. It usually is better to have the GC purchase the materials and they become responsible for them but I have worked on many projects where the owner purchased everything and we helped them in all aspects of ordering.
The two lower bids came from design/build firms. They have designers, program managers, and handle material sourcing. I actually prefer less handholding, but they both stressed to me the importance of letting them order the finishing materials to avoid problems and delays. I think that makes sense, and maybe part of their profit is built into there. I have no problem as long as the markup is reasonable. (A friend talked about a contractor who put a 100% markup on many items!)
Thanks for the advices. 300, my architect is a flat fee one, so there is no conflict of interest. I'll ask for his opinion. I'll also check references and see job sites. The lowest bid has the longest warranty and they've been in business for a long time. Their bid isn't as detailed as the second lowest one, but still lists job scope in each room and a subtotal for that room. I can tell their unit price is lower in a few areas.
Wongepea, I saw your recommendation of classic and contacted them. They replied quickly that they are busy till next spring so can't take on my project. How much per sqft did your reno come to and are you satisfied? The $500 stick on fire alarm is ridiculous!
Primer, the $300 number is including the finishing materials right? I think we're getting there with the window replacements, air conditioner work, etc.
Bids can vary for several reasons. The labor can be a major item, its not just the carpenter its all the trades, the differences between great plumbers and not so great plumbers is huge and the same could be said about the flooring, tiles, millwork, electrician, etc. You can find a contractor who pays their carpenter $100 a day and one who pays theirs $400 a day, there is a reason. What is also just as important is who is running the project? Is there a project manager? A site super? will they have laborers on site cleaning every day? I would stay away from a contractor who doe snot breakdown their bids, it should be pretty detailed. As far as prices if you are doing a high end project it should be at least $300 a sq ft.
Your best bet is to get referrals and look at the actual completed projects. If they are good, they can give you a number of projects they finished and you can speak to their customers.
I do not like grand total bids. I have seen them and it can lead to future problems/misunderstanding when certain aspects start going over cost and you cant tell by how much because its all buried in a giant total.
Why do bids vary so much ? at times its different overhead. Other times they just want to make a certain amount on each project. Other times, its the type of contractor. Design build firms are more expensive because they will offer design help and sourcing of materials. More hand holding. Good if you need that, but not for everyone.
Get detailed bids. Even then , you may be surprised at what they charge. I had one contractor charge $500 for each
stick on battery powered fire alarm. He had 5 alarms on his bid sheet. I have no clue why he thought this was going to fly. I did not use them.
Again, look at their referrals, you eyes wont lie to you. You will always be able to see clean,straight lines, quality work. Do not think just because they charge the highest, the work is any better.
I looked at a number of coops and condos about 3 years ago. Some allowed you to enclose the terraces/patios and some didn't. If they did, the buildings gave you all the information on how to have it done according to their regulations.
are you in a coop......even if temporary you may have a problem.
We have a garden level condo in Brooklyn and would love to put a glass enclosure on the patio. This will provide privacy from the units above. From what I can find online, as long as it is a temporary structure without heat/cool system placed in it, it may be legal and done without permits? Anyone has any experience on this?
We had some metal beams (had to do two with metal collar) installed for brick to brick support when we put in an internal stair well.
Best Building Group
shoot me a PM if you have any questions but yeh.......not cheap.
P.S.: the engineer and/or architect can suggest contractors. Also, you'll have a better idea of how much of an emergency this is, and that is something you need to know---are you under time pressure. Best of luck to you.
What we did when we had a foundation issue is to hire a structural engineer as a first step. Someone with the initials "P.E." after their name, which means they have a license. Then the engineer crafted a plan, and we hired a contractor to execute the plan. I personally would not hire a contractor for this, I would hire an engineer or an architect (licensed). So sorry about what happened to you, but don't despair! This is fixable. We had a house with a foundation wall that was cracked and leaning, and we shored it up (as described above) and sold the house just fine, and the house is doing great to this day.
The 3 story house we just bought had a load bearing wall removed from the second floor decades back. A post was put in place that now seems to be breaking through the subfloor in the floor above. The floor beneath the post shows signs that it may be being pushed down by the post . I would love to have the post replaced with a more appropriate solution perhaps a beam across the ceiling.
All of the signs of this issue were covered up by very thick and padded wall to wall carpeting and slid by the inspection.
So far, all of the recs I have received for contractors have been booked. Would love a referral and any advice.
In Australia its much cheaper....however vendors pay up front for marketing campaign costs (about $4-6k).
We also do about 80% as auctions which means marketing campaigns are only about 6weeks long.
Excellent Keith and Dan. Innovators like yourselves catapult the whole real estate industry into providing the service its customers deserve. All the best.
I saw that article the other day, as well. In NYC, you don’t have to swallow a 6% commission – as Keith and Steve indicated, there are alternatives out there. The WSJ article talks about home buyers and sellers being able to negotiate lower fees with their real estate brokers. This happens more often than you would think in NYC real estate as well, and there are many companies that follow a reduced commission business model (some better than others). In my opinion, great real estate brokerage service does not require the high commissions that are standard across the country, and I founded my real estate company to provide a high level of service to those particularly savvy home buyers and sellers who agree with this. I offer my buyer clients up to 2% of their purchase price cash back at closing, and a lower sell-side commission to my seller clients, significantly reducing the transaction costs associated with buying and selling a home.
Digs Realty Group
There are alternatives. We have been at it since 2008. Steve is right, it's about competition which is a good thing for everyone and it assists with the creation of a more dynamic market place. Capitalism is alive and well in NYC real estate. No one wants one size fits all in anything. Who would complain about choices; E-trade, Costco, Amazon, Blue Nile, Expedia and on and on. And it is not just about cutting prices it is about maintaining an outstanding level of service. No always so easy to do. This doesn't mean Tiffany's goes under, they also have to become better at what they do to compete.
The Burkhardt Group
I am amazed it is still so high, just silly that the mkt place has not forced it lower.. Probably regulated sadly..
As you can see from the discussion above, there are a few issues with the building - namely, the construction of the exhaust vent for the 2nd avenue subway will be right outside your window. I believe it goes up to 9-10 stories. You can see renderings online. The building spent a bit of money trying to fight this and lost. The building also doesn't own the commercial spaces located within it. That said, you can get a good deal for the price if you're okay with all that.
To Newsbro....Anything advertised recently as a 2-bedroom for $699 was originally a 1-bedroom with a dining area. If you are referring to 6I, this was the case. There are 3 1-bedroom lines in the building suitable for this type of conversion; none have closets, however. Marji Wollin, broker
Looking at a 2-bedroom building for $699K. Seems low. Anything unusual about this building that would make that the case?
The lack of factual information in others comments is surprising.
1) 233 E. 69th St. was an MJ Raines conversation. None of his conversions, whether on the eastside and westside, have any jurisdiction over retail spaces. MJ Raines kept all of the retail spaces, so none of the buildings have retail income. McArthur handles the retail spaces and ACP bought the unsold shares in all of his conversions. The maintenances are high because Raines took out balloon mortgages. This was in the late 80's. It has nothing what-so-ever to do with the subway.
I have no idea who UES76 is, but the comments are simply untrue. Obviously that person does not have 1st hand knowledge and does not live in the building!
2) At one time the building was in litigation regarding the change in the MTA's proposed auxilary building. However, I can assure you it cost a bit over $125k, nothing like the 300k mentioned above.
3) The board is a regular coop board. It's not broken into any kind of "groups". It's voted in and works as a team.
4) It is not a white-glove building and doesn't advertise itself as such. What it does have is a particularly friendly, helpful, caring, well-meaning staff.
5) It also has a wide range of ages and family groups, and does not discriminate based on race, religion, or ethnic background. It's truly NY!
Avery Real Estate New York
30% that is
I am not a Realtor but a Seller.......this is the result of my Agent..with a large firm ,friends referral, who did not explain one word of what her Agency Relationship was, only to have me sign this conflict of interest form which can ,give me, the
Principal the ability to say have the buyer get their represention immediately......as my Agent becomes combative when i say up the price,or get me the beset deal as Buyer has been in the building before with another Agent....where the agent simply Defends the buyer, another comment having to do with Double Dealing creating mistrust....all for double commission.............CANNOT BE DONE......ITS CALLED SLEEPING WITH THE BUYER.......NO FIDUCIARY HERE!.
UES, I sent you the whole packet -- I don't have the affirmation as a sep. PDF.
The "advanced informed consent" is so that if you represent the seller, you can in advance get their agreement for dual agency and dual agency with designated agent deals (when you have a sales listing(.. The form itself is part of the new law that went into effect, which does require signatures.
Any seller who signs an advance consent to give up his Fiduciary protections is an idiot. But then again, without the idiot rich there would be no New York Real Estate Market at all.
"...Wouldn’t the seller be better represented from a fiduciary position if the broker was not a Dual Agent?"
Of Course they would. Any reasonable person can see that.
I would love to be a fly on the wall listening to the creative rhetoric that agents spew to prospective clients in order to get them to sign this thing.
What's happening hear is That the NY State legislature has told the real estate community that they don't have to observe their fiduciary duty to their client as long as they tell them in advance.
A layman's translation:
... Hi, sign an exclusive contract with me for 6 months. If you happen to sell your apartment to anyone during that period I still get paid. Oh, and I will also probably be representing most of the buyers that I show your apartment to. So I'll be getting paid twice for this. And I can't guarantee that your best interest will be a big concern to me.
Now sign this other thing that says I told you - you understand that you're contractually bound to me but I owe you no fiduciary responsibility at all...
My question is - Why is the NY State legislature enforcing a form that protects the brokers and disenfranchises the public? What ever happened to protecting consumers?
UES - There is no dual agency relationship and there will NEVER be one so then why is this correct????
Ieb - yes that is the correct form. The checked box next to "advanced consent to dual agency" is letting both you and the seller know that there MAY be a dual agency relationship, not necessarily that there is one. The change in the law has allowed for the advanced consent, and agents are checking off the box in the event it occurs down the road.
FP - do you mind sending me just the affirmation please? Dbaruh@gmail.com Thx
The risk in buying an 'investor friendly' coop due to a liberal sublet policy and then relying on renting it out indefinitely is that this policy could change over time. A new board could do anything from restrict subletting to imposing higher and higher 'tariffs' (fees) the longer you sublet the unit (http://www.hauseit.com/nyc-coop-sublet-policy-rules-fees/). Once that happens, you may decided to sell around the time when every other investor in the building decides to. Then you will have lots of competition on the market, and the board may not even approve all of the transactions...
There are approximately 30 buildings of this kind in Manhattan. At any given month, no more than 2-3 apartments are offered for sale in these buildings. Many change ownership via off-market transactions. Average time to get such units in contract is less than 4 weeks. Average time to get a traditional co-op unit in contract is 40 weeks. "Investor friendly" co-op apartments are highly liquid and attract a solid demand.
On average, a cash investors earn more than 15% annually on his/her investment by purchasing and subleasing a cooperative apartment in these "investor friendly" co-op buildings.
The math is quite simple.
Let's consider Upper East Side co-ops in pre-war low-rise buildings.
Average co-op studio price is $300,000; $600 - $650 per square foot (Average 1BR price is $350,000). An average monthly rent for a studio is $1900. Average monthly maintenance for a studio apartment is $750. Annual Net Operating Income (NOI) = $13,800. CAP = 4.6%. Compared to investing in condos - by purchasing and renting a condo in Manhattan, an investor will not earn more than 2.00% - 2.50% annually.
Moreover, over the last year, on the average, co-op prices increased by more than 15% in Manhattan (see most recent Market Reports published by the most leading real estate brokerage companies in Manhattan.)
Undisputedly, there is always a chance that a board might amend the co-op bylaws and forbid investors to purchase units in the building or create restrictions on subleasing. However, the chances of this happening are very slim. Usually, the board needs 66% voting approval from all of the shareholders in the co-op in order to to amend bylaws. Most of the shareholders in such buildings are investors who sublease the units once they close on a purchase. Such shareholders/investors will never vote against their own interests. Thus, it is nearly impossible for the board to gather the necessary 66%. That's precisely the reason why these buildings are called "investor friendly".
Today, this type of co-op deals is an incredible investment opportunity that certainly deserves a careful consideration.
If you are interested in investing in co-op “investor friendly” buildings in Manhattan or would like to get more information about this type of deals, please contact me at firstname.lastname@example.org.
I represent investors in real estate transactions involving "investor friendly" co-op buildings in Manhattan. These buildings are known for their "unlimited sublet policies from day one", i.e., investor can purchase an apartment and start subletting it from day one.
-1-Bdrm in investor friendly co-op building recently went under contract for $369,000 on the Upper East Side. Anticipated monthly rent $2,200. Monthly maintenance is $678. http://www.townrealestate.com/sale/id-748495/215-East-88TH-Street-2D-Upper-East-Side
It's true that a subway entrance for the "Q" line, connecting the east and west side lines, will be on the northeast corner of E. 69th. What is NOT TRUE, however, is the value of the apartments will decrease. Quite the opposite. Any building, whether on the eastside or westside, has benefited with an increase of sales prices for their units if it's very close to a subway entrance. The "F" stop on E. 63rd and the "1" stop in the 80's on the westside are examples. Marji Wollin, broker
Most definitely agree with you.
i hear the new subway line will have a station entrance on the corner of this bld.l i think this will decrease the value of the bld over time. look at other subway entrances and you will see they are dirty, noisy and crowded.
i would never buy here
They haven't been combined. The guy who's owned the terraced one since 2006, bought the upstairs unit in 2011 (the seller lost about $900K on it) but never got around to combining them.
Sure you could separate them, the market for $13mm properties was never quite deep and is a bit weaker today. With that said, it all comes down to price.
As the CEO of Douglas Elliman recently admitted at a conference, any listing no matter who markets it will sell at the right price.
So play smart, lower your price until buyers surface and minimize your transaction and closing costs (http://www.hauseit.com/closing-costs-nyc/) with an agent managed FSBO or flat fee RLS listing. Good luck!
"Perhaps better sold as two separate units."
Exactly what I was thinking.
Never thought about it this way but you learn something new every day. Perhaps better sold as two separate units.
Never good to have the most expensive apartment in the building, most apartments in the building are selling for 2 or 3 million dollars, this is 5 or 6 times more expensive. Puts the buyer in a building with a different class of owners who could never afford the penthouse or anything close to it. Rich people like to live with rich people.
Great article, I did in fact see it in the print version. However, to answer your own question, did you see this part of the article closer to the bottom?
"There’s at least one company trying to lessen the broker and FSBO tension. Hauseit is a website that offers an “agent-managed FSBO” service in which sellers pay a flat fee of $399 to list their apartment on the MLS and RLS database. The owner then handles open houses, questions and negotiations. Hauseit spokesperson Chris Oliver said one of the biggest reasons FSBO listings fail is “broker harassment”—brokers who are pressuring FSBO sellers to cave, or buyer’s brokers who ignore FSBO listings. Through Hauseit, the listing appears online in a way brokers won’t be able to identify as FSBO."
I would highly recommend these guys if you want more established, institutional approach to saving commissions. Plus, you'll avoid solicitation, harassment and boycotting from other brokers because Hauseit affiliates are traditional full-service brokerages and full REBNY Member Firms who don't openly discount and have their reputations intact (reputation is everything in real estate)! Good luck!
Well, we sold a co-op apartment in Manhattan, a house on Long Island, and just bought another house out west, all without our own broker. I would never use a broker for myself (can't stop the other side from doing so).
We saved many tens of thousands of dollars altogether. For the co-op, the other party didn't have a broker, either. For the house out west, we hired a lawyer instead, (in that state most people don't use lawyers) and we were SO glad we hired a lawyer and not a broker. Doing so also saved us, on that deal alone, 1% in commission, because the listing broker only charged 5% instead of 6%, because there was only one broker on the deal. Remember, buyers are the only ones with money in the transaction, and they write the check to the brokerage firm.
Regarding our co-op sale: Yes we had a turn-down of our first buyer. Their financials were sterling. They had a criminal complaint against them in another state that was dismissed, but it was for animal cruelty. I have never heard of a broker doing deep research on otherwise nice, affluent co-op buyers, and of course they lied on their application. I found out the whole story using deep background checking, but unfortunately, too late in the game. This kind of thing is rare.
Bottom line is, if you have business savvy and are willing to learn, you too can save many tens of thousands of dollars. If you hate to negotiate, you're scared, or you're too busy, then FSBO might not work for you. A flat fee broker is necessary in some markets to get your listing where it needs to be, and to prevent anti-FSBO discrimination by agents. You can negotiate with that flat-fee broker, too. We loved: http://www.ilistproperties.com/faqs/
TANSTAAFL -- There is no such thing as a free lunch. If you want to skip using a broker, that's fine, but you can't skip the traditional broker duties of marketing your property and picking up the phone. (Unless you want to price it cheaply and sell it to the first caller, but then arguably you're cheating yourself out of the higher price you would get with greater exposure.)
The owners that have done FSBOs who have commented on this board seem to have had the most success when they priced realistically; could argue the merits of their apartment versus comparative apartments (above and beyond "well, I spent $8K on a Sub-Zero refrigerator"), and had professional photographs taken. In addition, many of the successful ones seemed to have created property websites and circulated those links widely (through their social media or whatever other channels were available to them.) As far as my last client who bought a FSBO, we found the property on nytimes.com .
If you're in a co-op, you'll also need to do tenant screening. There's been a recent thread about a board turndown in a FSBO situation -- and it's always tough to second-guess these things, but it's possible that could have been avoided with an experienced broker at the helm.
Speaking of which, if you have to field fifty phone calls from brokers and that yields one from Vickey Barron, you're actually doing pretty well. I've never done a deal with her, but as a teacher at REBNY, she's great.
Did anyone else read this? http://observer.com/2016/09/the-biz-of-the-fsbo/
Unfortunately for the marketplace but there are just too many agents, especially junior ones who are assigned to cold call FSBO sellers. There are companies that even troll FSBO sellers for contact info and then sell it to brokers apparently. End result, lots of harassment and much difficulty for FSBO sellers to distinguish between what's real and what's harassment..
Would like to hear any thoughts on workarounds / alternatives vs going the traditional list your home on zillow FSBO route
Correction -- near Tremont Avenue, not near Fordham Road. So sorry for the typo/error. It's close to the CBX and an express stop on the D (3 stops from Columbus Circle).
It's the Wild, Wild, West. No one knows what coops on Grand Concourse near Fordham Road are worth. It's not a big market. The whole city is changing quickly. Chalk all of it up to speculation. It's a terrific deal for someone priced out of Washington Heights. Or is it? It's not Washington Heights. So guesses are all over the map. At 1020 Grand Concourse an apartment closed at $380,000 this year and was offered for sale at $575,000 only 5 months later. It was such a leap that there was an article ridiculing it on an online blog, so the would-be sellers took a public beating. It's no longer listed. Sometimes people get ahead of themselves. That $380,000 sale was a shocker. It was a quick sale that followed a bidding war, finished only one week after open house. So that means hot market. But how hot?
Incorrect data? Personal financial stress, nobody wanted it right away at $325, and seller had to unload it really fast to raise cash? Foreclosure or short sale type situation where the recorded sale price is different for accounting reasons?
Seems strange that it was listed in March for $325K, went to contract in May, sold in July for $240K and then was re-listed for sale at 325k in October. Something doesn't add up.
Who lists an apartment and drops the price 25% in 2 months without interim price cuts?
A naïve faith that recent hype about the Bronx will attract people who think $325,000 is cheap for 1,400 square feet. Check out recent price cuts on Grand Concourse below 167th Street.