Open House Reports for 4/19/09?

311 E 71st St. 12B
549K
http://www.streeteasy.com/nyc/sale/381187-coop-311-east-71st-street-lenox-hill-new-york
We arrived right near the end of the open house; there were 4 or 5 names on the sheet. There was an older foreign couple asking about guarantors (agent said that guarantors would be allowed.), and it sounded like they were considering it for their son or daughter. The place needs some significant work. The floors are in really bad shape; the outlets don't have grounding plugs, which means there may be electrical work needed. The kitchen was tiny, smaller than it looked in the pictures, and not in great shape. The maintenance is quite high (1448, 62% tax deductible). On the plus side, the unit got a lot of light (no views) and the converted 2nd bedroom had a nice window and closet. This unit has a significant ways to drop. It sold in 2005 for 480, and I wouldn't pay that.

5K
http://www.streeteasy.com/nyc/sale/374035-coop-233-east-69th-street-lenox-hill-new-york
I really liked they layout, and it got good light. There was more counter space in the kitchen than the pictures implied. The stove was tiny though. The master bedroom was large, covered with bad carpeting, not sure of the condition of the floors underneath. It is being used as a kids room, while the parents have squished into the tiny converted 2nd bedroom. I got the feeling from the broker that they want to sell and are willing to negotiate. The floors didn't look like they were in terrible shape, although they could have used a good refinishing. I might replace them anyway.

5H
http://www.streeteasy.com/nyc/sale/376798-coop-233-east-69th-street-lenox-hill-new-york
This unit was at the end of the hallway on the same floor as 5K. It has not been converted, and the dining area had a crib in it. Moldings looked new. Bathroom looked relatively recently renovated, although I think the tub was leaking. The kitchen was very small, although the stove was bigger than the one in 5K.

With 4 JR4s for sale in this building (the other two around the same size but not as easily convertible), I may become a race to the bottom. Both units we saw were clearly being lived in by families who had outgrown the space. I think whichever one goes first will set the tone for the rest of the listings. My preference was for 5K, but they really are quite comparable.

Oops, the last post was in reference to 233 E 69th St. Both units were convertible JR4s for 549K. There was light traffic. The two are already starting to blend together a little bit.

Wishhouse: Thanks. Good job, and thanks for sharing.

200 E 74th Street 7C.
685K
http://www.streeteasy.com/nyc/sale/394129-coop-200-east-74th-st-upper-east-side-new-york
We waited in the lobby for the broker to arrive (this was about half way through the supposed start of the open house). We almost left because we had other places to see, but she finally came. We stopped by 11M on the way to pick up the keys. I don't know enough about pure 1 bedrooms so I won't post comments. The owner of 7C made a really good decision when he/she created the breakfast bar. It made the kitchen seem larger and added significant counter space. It was a bit of a risk because they had to break the bar in two (because of a supporting wall), but it actually wasn't awkward. Overall the renovations were well done. One odd thing was that the moldings, which looked new had all started cracking (maybe once every 15 feet). This could probably be repaired easily. There was ample closet space. Still, I don't think this place has appreciated from 520K in 2004 to 685K. It's only been on the market a month though, so I think they may be in the "testing the waters" phase. The building seemed pretty stuffy, although the doorman was friendly. I felt like the broker was brushing us off a bit, but she may have just been frazzled because she was running late. I'll give her the benefit of the doubt. As a side note, the owner has great taste in furniture and it was nicely staged.

345 E 81st Street, 11M
599K
http://www.streeteasy.com/nyc/sale/374774-coop-345-east-81st-street-yorkville-new-york
This kitchen was well renovated for the price range and there is a huge window in the living room. I'm not sure you would actually want to convert it and break up the windows. There was a lot of closet space, but you would likely want to redo the closets since they were pretty run down. The bathroom was small but in good condition.

Excellent reports, thank you. I hadn't been aware of these apartments, and now that I am, your reports are very helpful. Exciting to finally find apartments coming down into the realm of the affordable! Unfortunately I didn't go to any today, so nothing to give back.

I went to 4 O/H today in the UES

1) 22 E 88th #6F: there's already discussion about this apt but I wanted to check it out myself. I got there almost at the end of the O/H and there were 2 more couples in the apt. I signed and I was the 9th. It has good space, no views from DR or the 2nd and 3rd BR. The MBR (which is not being used as such) has a view to 88th st.
It's has to many curtains and needs some renovation and more closet space but it's a great area.

2) 22 E 88th #12F: Obviously major difference because of the views. No walls, reservoir from the 2nd BR and the MBR which are awesome and it has the xtra Library/ Family Room which is great for a family of five. The Living Room seems bigger because there are no built ins. Much more expensive than the 6F.

3) 103 E 84th #7B: Love this apartment. Great renovation. Very nice eat-in kitchen. I would need a separate Dining Room but it's in really excellent condition. Lots of closets.

4) 176 E 77th #17JK: The best space for a family. It has great bedroom sizes they gut renovated it but I didn't like a bit the renovation. Don't like the floors, walls, bathrooms...I think I would spend more taking everything that I don't like down and doing it the way I like than doing it from scratch. Too expensive. I don't think it's worth more than 800 sqf2.

sanba- from the photos, the bathroom in 17JK looks super trendy, and not in a good way.

good on ya wish - good field report, ditto sanba. took a pass on OHs today.

stretching higher, are we, sanba? I thought you were looking <$2m. Granted, these places may go under $2m in the end.

Oops--sorry, just created another thread on this (had walked away for an hour or so, then came back and posted without checking first) :(

I went to the lower east side for first time:

http://www.streeteasy.com/nyc/sale/387126-coop-385-grand-street-lower-east-side-new-york
Large space and convenient location to subway are the postives. On the negative, the floors were in terrible kitchen, the bath and kitchen in bad need of rennovation, basically whole place needs to be redone. The building did not seem well maintained.

http://www.streeteasy.com/nyc/sale/394528-coop-550-grand-street-lower-east-side-new-york
The apt is in great condition and after looking at so many super small bedroom in East village and UES, it was like a breath of fresh air. For the same price as above apt, only minor cosmetic work needed, if you don't mind living with someone else's rennovation job. Negatives include far from subway and living in a 12 story complex surrounded by more of the same, not sure if the price discount makes it work it.

I see you went to co-op village. If you want co-op village but want to be near the subway, my suggestion is to look at The Seward Park buildingas, which are the ones right across the street from Rite Aid.

thanks alpine292. what do you think of the area? think 400K for about 800sf one bedroom is a deal? I used to live in chinatown so I remember when LES was pretty rough but I always liked the area for it's diversity and proximity to good shopping and restaurants.

how much would that cost you a month?

$2,122 per month assuming 20 per cent down and being able to bid a bid 10 percent less.

Wishhouse, Your in a slightly higher price range them myself, but I also went to a few open houses on the UES, way east of Lex. I'll be looking to buy in early 2010 when I have my down payment and reserve fund locked up.

http://www.streeteasy.com/nyc/sale/393499-coop-230-east-71st-street-lenox-hill-new-york

Listing catches your eye with the space and location. Even though it is located in the basement, there is a lot to like if you are looking for space on a budget in the UES. Kitchen area is big and has a lot of potential to be a great kitchen with a renovation. You have a separate room, not located on the floorplan, where you and the super can use for storage. The laundry room is practically part of your apartment. Apartment needs major upgrades, and some people will hate the basement location, but someone will love it.

http://www.streeteasy.com/nyc/sale/316078-coop-446-east-86th-st-yorkville-new-york
http://www.streeteasy.com/nyc/sale/378586-coop-446-east-86th-st-yorkville-new-york

Two apartments on the same line. The price difference is that 9A has some views while 4A does not, though 4A seems like it will get as much light. Two solid apartments that would have not popped up in my price range a few years ago.

http://www.streeteasy.com/nyc/sale/399294-coop-330-east-70th-st-lenox-hill-new-york

Move in type condition, but can also use some renovations. Good amount of space but I liked 3B more with it's lay-out. More room in the living room makes that converted second bed/office more feasible. http://www.streeteasy.com/nyc/sale/376741-coop-330-east-70th-street-lenox-hill-new-york

http://www.streeteasy.com/nyc/building/345-east-93-street-manhattan

Saw 31E, 31F and 28H. You can also buy E, F and combine them. 31E and 31F had awesome views and the building is really nice. The locale is a bit out of the way since the walk to the 6 train is a huge up hill which sucked in the morning (used to live on E 93rd and 2nd). 28H is really nice and has a lot of space. 31F is also very nice with the awesome view while 31E needs some updating and I`m not a fan of the kitchen/living room combo.

Finally, I get the sense that the brokers just want the buyers and sellers to get together on prices even on the downside. Everyone talked respectfully to me and seemed realistic about the market. Brokers get a bad rap on this site and I've had some bad stories but the brokers at these open houses were very professional.