49 West 72nd

I am confused. After looking at your apt and the other ones in your building, why is any one going to offer you almost $900 a sq ft while maint is not so low?

If you do a search in SE for your area, there are lots of apts for sale for much lower than yours with maint lower than your building.

My opinion is that if you are serious of selling, adjust your price to BELOW what others in your area are going for.

MODERATORS -- please do not delete this thread, it could get interesting

49W72 - Why did you drop Douglas Keisler as your broker? Looking at your floorplan, I think what you are really selling is a studio and should be priced accordingly (i.e. the bathroom is only accessible by going thru the bedroom).

Agree with hofo, $900 is steep for maint. on a studio, I think something around 300k is more reasonable -- that would carrying costs around 2200 which would be comparable to a studio.

agree with jmkeenan - perhaps 49W72 is the broker?

Definitely seems like a studio-turned- jr. one bd. to me. Priced too high, IMO.

Most recent sale in same line:

July 31, 2007 49 WEST 72ND STREET 6E
Manhattan, NY 10023 Co-Op $467,000

1) Assuming modest $15k per floor premium, this would have sold for $497k in 2007
2) Summer 2007 was about the peak of the market
3) We are down a minimum of 20% - 30% from peak
4) As such this should be priced between $347.9k and $397.6k

Thanks for all the comments so far!

hofo - Interesting note about the bathroom location studio-izing the place. Hadn't heard that before. And it doesn't FEEL like a studio, but I get what you mean. I don't think many of the other apartments you are referring to are less than a block from Central Park, have a doorman, get direct light, and have a renovated kitchen and bath. But I take your point to keep an eye on the local comps.

cb123 - It has definitely been a 1 bedroom since 1929.

jmkeenan - Douglas Keiser was never my broker. He's the broker of the studio for sale next door, and we agreed to market our apartments together, for those seeking combination opportunities. He did a temporary favor of posting my apartment on Streeteasy.

This strikes me as more or less peak pricing, a lot to pay for such a small place with not low maint. (in a sane, post-bubble world) so any buyer should be very skeptical. It looks cramped from the floor plan...dimensions would be helpful.

Why are you selling, and do you really want to? I'm just curious as to why 90% of sellers keep asking prices that are so peak-ish, when it appears closings are taking place at much lower prices vs. peak.

Couple things. The combo is listed at $795K while the two units are listed at $315K and $440K. Makes no sense to pay $40K extra if you buy them together. Looks like you priced them together, then the studio price dropped. So you need reprice the combo to make any sense. And, maybe it's the pictures, but the kitchen looks tiny (too small for a real 1BR to me) and the livingroom looks like it would be difficult to set up like a regular sized livingroom. The other pictures look great - maybe take some new ones of the kitchen/livingroom, as the current ones may not make people run to see what otherwise looks like a nice place. Good luck.

Your floorplan looks terrific...I've been looking at studios (alcove) and your apt. looks bigger...BUT the maintenance is really high and considering the market. You need to decide how fast you want to sell.

regarding the kitchen..it looks like you have a white stove, black microwave and a stainless steel fridge.Replace the stove and microwave and put granite on the counters...Because your kitchen is so small and it's right out there it would be more appealing with the changes...

Ok, technically not a studio, but still quite small for a one bedroom at 500 SF. But it looks nice, overall, and it's a good location.

The price is $265,000.
Put it on the market at this price and rid yourself of this soon to be storage facility. The purchase market for the tiny is coming to a tempory close. Places like this will be listing below 160K in 12-18 months. Don't believe me? Meet me here in a year, I love being right.

We're leaving this thread up for the sake of an interesting discussion. Thanks for pointing out that the other listing for your apartment was not real. We adore deleting fake listings.

We've asked nicely and often that you don't post FSBOs in these discussions.

49W72,

I think your best chance of selling at this price is to find some buyers who are "new" to new york. Possibily
- a student with a rich family, where the student is spending 'daddy's money'.. so they don't care
- someone single relocating to new york to work and are the 'they must always own" type of person

Instead of having the buyers find you, you'll have to be very resourceful and find these types of buyers yourself BEFORE the media and everyone in general see whats really going on (early days yet, realtors have been able to keep up propaganda in Manhattan).

Other than that, you'll just have to drop the price to around $700 per sq foot

falcogold...i hope you're right...

make it that 600 per sqft