List of the most overpriced apartments in NYC

http://www.streeteasy.com/nyc/sale/367933-condo-515-east-72nd-street-upper-east-side-new-york

Over $1.6M for a NORTH facing 1000 square foot apartment! HAHAHA good luck selling it at that price. Lets also not forget to mention that its all the way over at the river, with no subways anywhere close.....

http://www.streeteasy.com/nyc/sale/406663-condo-257-west-117-morningside-heights-new-york

$16.M for a 2 BEDROOM???????? $82k per month in common charges???? Oh man this one made me laugh, not to mention the fact that its located in a "pain in the neck to get to" location.

http://www.streeteasy.com/nyc/sale/406471-coop-220-east-17th-st-gramercy-park-new-york

I like the area, the apartment's cute, but almost $1400 psf?? Kitchen is TINY.

http://www.streeteasy.com/nyc/sale/406670-condo-15-central-park-west-lincoln-square-new-york

$3700 psf, and the building is a complete joke.

http://www.streeteasy.com/nyc/sale/268543-condo-400-west-12th-street-west-village-new-york

Studio, no doorman, and $2800 psf (AND only 800 square feet in total)........Some people are truly idiots!

Here's a good one,

400 E. 67, PH. 419 days on the market, no reductions, $13M, $3191 psf.

The Laurel, 129 apartments, fewer than 40 closed. Can you say cluster?

http://www.streeteasy.com/nyc/sale/172785-condo-25-east-77th-street-upper-east-side-new-york

$2.2M studio, 528 square feet. Thats $4166 psf, with a "very reasonable" $4409 per month in common charges! Some of these listings never cease to amaze me...

ues bandit - you win! that is truly the most overpriced apartments possibly ever!

every single apartment on the land lease that is chelsea enclave. they just seriously told me they wouldn't go below 2 million for a 1500 square foot 2 bedroom. i wished them the best of luck in bankruptcy court.

This has to be a mistake, if not, I am speechless: 2 bedroom in Harlem/Morningside: 16.500.000, maintenace 18.000 What?????
http://www.streeteasy.com/nyc/sale/406663-condo-257-west-117-morningside-heights-new-york
$16,500,000
257 West 117 #7C in Morningside Heights

Condo
Morningside Heights
1,991 ft²
$8,287 per ft²
1 bed, 2 baths
Common Charges: $82,873
Taxes: $70

Mimi, i'm not certain but this looks like it might be a bulk sale that they needed some way to put in the system, is this the Fitzgerald? that development has been having problems for years, and it is not surprising they are trying to offload to investors.

It is the Fitzgerald. Look at all the properties listed as unavailable on 1/22. I think your answer may be there. Sucks for the people who have bought and closed already.

But $8,287 per ft² in Harlem? Isn't this totally crazy? I didn't see these prices for CP open views...

mimi, I wasn't clear. that listing was for one unit, but for whatever reason, that sale represents many units. (or so I conjecture). i've seen it in a couple of other places, they just anchor the whole bulk sale to one apartment.

Yeah, thats the same one I liked to earlier as well. Its a totally insane price for a 2 bed ANYWHERE in the city, let alone Morningside Height/Harlem. $82,000 in monthly charges is just the most insane part about it.....

"mimi, I wasn't clear. that listing was for one unit, but for whatever reason, that sale represents many units. (or so I conjecture). i've seen it in a couple of other places, they just anchor the whole bulk sale to one apartment. "

Why would they do that though? Neither the SE lising nor the CH listing makes any mention of that. I can assure you that nobody viewing either will take the time to follow up with the broker and find out either!

Also, the listing shows the apartment at 2000 square feet. If this was the whole building (or multiple lisitngs) wouldnt it have the total? Finally, there is no way the whole building is "just" $16.5 million, so the broker is either an idior or he must think people like solving riddles....

I don't KNOW why they do it. I've just seen it before, but usually it's explained in the listing that it's for more than one unit although it is anchored to one. I suspect they already sold them, or a deal involving them fell through. the real estate process in manhattan often involves obfuscation.

Then again, I could be totally wrong and someone made a huge mistake. What makes me think otherwise is the amount of the common charges listed, which would seem to have been a proactive addition, and not just a typo.

OK, I have a possible nefarious reason. All the apartments listed below on 1/22/09 were part of a bulk sale that fell through. They do not want to put them back on actively, so they have selected a unit to be representative of their bulk sale. Nasty little tactic, but would keep the shadows murky and the inventory numbers lowered.

Well, I may well be wrong. There is an apartment listed very early on as unavailable at $1.65M, no apartment number. Although they may have used that apartment to anchor. That seems too clever for them, however.

"http://www.streeteasy.com/nyc/sale/172785-condo-25-east-77th-street-upper-east-side-new-york

$2.2M studio, 528 square feet. Thats $4166 psf, with a "very reasonable" $4409 per month in common charges! Some of these listings never cease to amaze me..."

-- This is by far the best. Its a f-ing hotel room! And barely a sweet at that!

Freakin suite.

25 E. 77th, but they are "suites extraordinaire" That matters, doesn't it?

Since first opening its doors in 1927, The Mark has been New York and the world’s premiere landmark hotel. Currently the hotel is closed while it undergoes a complete redevelopment led by the visionary developers at Alexico Group. The Mark will reopen Spring 2009 and will feature 118 hotel rooms and 42 cooperative Suites Extraordinaire. Each intricate detail of The Mark will be brought up to the exacting standards of modern innovation while maintaining the hotel’s rich character creating a perfect blend of the past and present. Each suite will have wireless hi-speed Internet capabilities, state-of-the-art Crestron units and quiet, efficient 4-pipe fan coil systems with year round climate control capabilities. The exquisite new design of The Mark will be done by legendary interior designer and Chevalier de la Légion d’Honneur Jacques Grange, whose philosophy is perfectly realized in the public spaces as well as Bar Mark, the newly opening Winter Garden Restaurant and all hotel rooms and suites. The new design will also include fascinating and playful artworks created by celebrated artists and artisans including Anne & Vincent Corbiére, Guy de Rougemont, Mattia Bonetti, Eric Schmitt, François Marie Banier, Vladimir Kagan and Patrice Dangel, who have been commissioned personally by Grange and Alexico Group to create one-of-a-kind pieces for The Mark’s public spaces and an unparalleled series of works we will call The Mark Collection.

"25 E. 77th, but they are "suites extraordinaire" That matters, doesn't it?"
NOPE, certainly not $2.2m worth!

"Each suite will have wireless hi-speed Internet capabilities"
Every apartment in NYC is hi-speed internet 'capable'. All you need to do is pick up the phone and call TWC or Verizon. What a joke!

"year round climate control capabilities"
WOW, that sounds amazing! Do they mean to imply that for $2.2M (for a studio mind you) you can get an apartment that has both heating AND cooling capabilities???? Thats it, where did I leave my checkbook that place is as good as SOLD.......

UESBandit, I was joking. This has FAIL written all over it. Only four of the "Suites Extraordinaire" appear to have been spoken for, and what the world needs now is hardly another really expensive hotel with grossly overpriced apartments. I wonder if they picked up the art earlier? If so, they've taken a bath on that portion of the investment as well. NYC's hotel revPAR is sinking and this will sink along with it.

"UESBandit, I was joking. This has FAIL written all over it."

I know! I was joining in and adding my own bit of humor.

Gotcha. Humor can be tough on the boards.

jasonkyle
about 3 hours ago
ignore this person
report abuse every single apartment on the land lease that is chelsea enclave. they just seriously told me they wouldn't go below 2 million for a 1500 square foot 2 bedroom. i wished them the best of luck in bankruptcy court.

figures, another snarky comment from jasonkyle to a broker or property owner about how they are crazy, and how he won't be buying. What a waste of time.

oh ebutterfly stop cyberstalking me. it's so tiresome. if you bothered to comment on anyone besides me it would seem less creepy. try that out.

I was going to nominate this listing...
http://www.streeteasy.com/nyc/sale/399420-coop-146-central-park-west-upper-west-side-new-york
... but it got chopped 15% yesterday. It still might deserve dishonorable mention. Pretty nasty trick: sell a quarter of the apartment to the neighbors, then put what's left on the market and price it as though it were intact. No ambiguity about whether to blame the owner or the broker on this one, because they're the same person.

i just noticed that the chelsea enclave got some kind of small token chop as well. on average 12 percent it says in the times. still way too high though.

This takes my breath away, and not in a good way:

http://www.streeteasy.com/nyc/sale/406833-condo-23-east-22nd-street-flatiron-new-york

Just put back on at about $600k over initial 2007 asking. I know there are many opinions regarding this building, but I think it is hideous. Stellar location, but architectural awards notwithstanding, the building looks like the result of excessive psychotropic consumption to me.

Regarding 25 East 77th: are purchasers able to rent these "studios" out on a nightly basis to help offset the price?

This new listing is pretty funny: smallish 1BR on the second floor of Harperley Hall (41 CPW). Does not - repeat, does NOT - face the park. $1.6MM. A typo, maybe?
http://www.streeteasy.com/nyc/sale/406834-coop-41-central-park-west-lincoln-square-new-york

not the topic of this thread I know, but, isnt 41 CPW where the guy dropped to 5mm as a final reduction #4B maybe. Presumably because he had another bid in hand. And that was 2 months ago. Guess that didn't work either. Dreamer, you know you are a dreamer. Well can you put your hands in your head o no!

http://www.streeteasy.com/nyc/building/41-west-74-street-manhattan

these 2 units in a newly renovated townhouse are becoming one of my favorites. over 2000/sf for a townhouse space with the privilage of paying 7500/month in taxes and common charge. looks nice but maybe the price and monthlies are each at least twice what they should be???

I saw that 1-bedroom at 41 CPW. Ridiculous. Then I realized that it's a terrific bargain considering that you would have a very famous neighbor! Too bad she's moving to the east side, though...

Here's a new contender:
http://www.streeteasy.com/nyc/sale/412576-coop-239-central-park-west-upper-west-side-new-york
Even if each floor of this duplex is worth ~$7MM (which seems very doubtful), the days of 7+7=17.5 are over. Besides, the few remaining $17.5MM buyers on the Upper West Side have their pick of the best apartments in the best buildings.

http://www.streeteasy.com/nyc/sale/413920-condo-29-west-85th-street-upper-west-side-new-york

Looks like a beautiful apartment on a nice block, but nearly $2000/square foot for a non doorman building?

The asking price is nearly double the 2004 transaction price. It's also "gained" 440 square feet since then.