310 East 23rd Street #12G
1 bed•1 bath
Condop in Gramercy Park
344 West 12th Street
1 bed•1 bath•450 ft²
Co-op in West Village
160 Leroy Street
160 Riverside Drive #3D
Five rooms; 2BR/1.5BA
Asks $1,395,000. Maint. $2,013
160 Riverside Drive #2C
Five rooms; 2BR/2BA
Asks $1,295,000. Maint. $2,308
160 Riverside Drive #5E
Four rooms; 2BR/2BA
Asks $1,075,000. Maint. $1,664
160 RSD is blessed with a beautiful setting that overlooks the Hudson River to the west, the Rice Mansion to the north, the Soldiers & Sailors Monument to the northwest, and a fairly quiet residential street to the south. Easy access to the playgrounds, bike paths and dog run below enhance the location's appeal. Ajello's facade for 160 bears a superficial resemblance to J.E.R. Carpenter's 173-175 RSD, but 160 is more intimate and less refined. A stable coop with relatively little turnover, 160 doesn't seem to be on the radar of many UWS apartment-hunters, or even of most brokers.
The headline-grabbers at 160 are the river-facing "A" and "B" lines. For smaller families with tighter budgets, there are three secondary lines, each currently represented by one low-floor listing. Although they will probably appeal to different buyers, discussing them together may shed some light on the strengths and weaknesses of each property.
#3D is the most straightforward of the three. Handsomely renovated and with few options for reconfiguration, #3D is a very grown-up apartment, well-suited to adults who enjoy formal entertaining. The LR and DR have no view, but they are tasteful spaces with comfortable proportions. The kitchen, though less spacious, is well-equipped and nicely styled. The two modest bedrooms enjoy the best views, facing north toward the Monument. The master has an en-suite half bath. The second BR is currently an attractive home office. The absence of a second full bath narrows the buyer pool considerably. The asking price for #3D has been cut twice already, from $1.499MM to $1.45MM to $1.395MM, perhaps underscoring the premium currently commanded by UWS apartments that accommodate larger families.
Notes on #2C and #5E, and some comparisons, will follow in separate posts.
I've often wondered about 160RSD. It also has the benefit of an open northern exposure (and probably great river views as a result). A little more accessible, $-wise, than the 10+room behemoths of its northern neighbor.
I love 160 RSD. We were drooling over 11A but unfortunately we're not multi-millionaires.
Is the D-line carved from the A? The northern flank of the A-line and the D-line seem to line up exactly. Cutups of larger apts always fare more poorly in the market than original-as-built apts.
By the way, have you had a chance to see the AC combo at 300 RSD? Listed at just shy of $4M. Looks like the addition of the C apartment to 7A has fixed the inherent problems with the A lines--namely, a dearth of closets and crappy MBR. I might do things a bit differently if it were mine, but nice to finally see A and C joined.
Hmm, and I may have caught the eminent Mr. Horsley out on 160RSD's history. According to the NYT (Dec. 17th, 1922), 160RSD was begun May 1, 1922 and expected to be ready in the summer of '23. Sixty housekeeping suites (which implies NOT constructed as a co-operative) of 5, 6 and 7 rooms. Paterno & Sons were the builders, financed by a 1.05m 1st mtge at 6%.
10023: I think "E", where it exists, was carved from "A". I probably shouldn't have called "E" a line in its own right.
If I'm not mistaken, NONE of these buildings were built as co-ops, which are a relatively modern idea. They were all built as 'housekeeping suites', as far as I understand.
bramstar, there were lots of buildings built as co-ops in the 1920s, and fewer before then. None on the UWS that I know of, except some of the studio buildings on West 67th.
Right, didn't see the light court in the middle. D is in the eastern flank of the building with C? A & B are in the more favored western flank (with E).
Ah--I'd thought they were not considered 'co-ops' til later on. Thnx for the clarification.
10023: Right. I couldn't find an original "typical floor" plan for 160RSD. I think "A" and "B" are the original sevens. "C" was a rather odd six and "D" was a five.
"B" is a pretty great floor plan. It's very similar to the "point" apartment at 180 RSD, except the kitchen faces out. As at 180, the bedrooms get the best views. http://www.corcoran.com/property/FloorPlan.aspx?Region=NYC&ListingID=880395
West, you wouldn't happen to have a floor plan for the A line at 180 RSD, would you? I've long wanted to see what that layout looks like but have never been able to scrounge up a plan.
Branstar: Try http://corcoran.com/property/FloorPlan.aspx?Region=NYC&ListingID=59220
Bramstar, that is. I hope the link works better than my typing.
What's with the explosion of low-floor inventory at Class A buildings in this part of the UWS. Aside from the listings discussed above, there was also a 1st floor unit at 180 RSD (in contract), a 1st floor unit at 610 WEA + another 1st floor unit at 160 RSD (in contract). I saw the 180 RSD apartment and really liked the layout and the potential, however, I was surprised a quick deal was reached for what looked like a high price for a first-floor estate. 610 WEA looks like it might languish a bit longer even though the deal includes a "mud room" and "hidden coat closet" in a reconfigured C6. The mud room and hiddent coat closet can't be worth that much, can they? And I guess the customer has voted that the prices is right for the 160 RSD first-floor entry.
Is anyone else surprised by the surge of low-floor apartments in otherwise excellent buildings?
Bramstar/West 81 -- regarding the combination of A and C at 300 Riverside, how can the sum of those two apartments be worth $4 million, when the two available A's are not moving although they are priced under $2MM and the last C in the building sold for $850K in 2009??
A thought on the low floor apartments: Many of these lines have exterior and/or lightwell exposures (rather than brick wall and/or airshafts). However, as they're on low floors, they still only get light in the heart of the summer. Come fall, these seemingly bright apartments (at least, right now) are dark as can be...
Bugs--I don't know that it is 'worth' $4M--only time will tell on that one. But in this case, the sum is most certainly more valuable than the parts.
West--thanks! My husband grew up in one of the A lines and I've heard so much about how great it was but could never quite visualize the space without a floor plan.