I stand corrected :) A Bidding war.

5d

w67th,

Just curious, what do you think of this 1BR on your street

http://www.streeteasy.com/nyc/sale/328982-coop-33-west-67th-street-lincoln-square-new-york

at close to 1000 dollars per sq ft, seems priced high. Or is this building worth the premium, but not this unit

bugelrex, I'd hit this for $400K
http://www.streeteasy.com/nyc/sale/365897-coop-130-west-67th-street-lincoln-square-new-york

or this for http://www.streeteasy.com/nyc/sale/378840-condo-1965-broadway-lincoln-square-new-york $900psf (I'm sure there's a ton of negotiability). The side street is a problem btwn CPW and Columbus due to the narrow street (lots of trucks honking, traffic back-up) during certain times. Oh, I also hate the damn dufuses standing outside of the ABC studios smoking ALL THE TIME! It's these damn low-lifes coming to work from Jersey, who didn't get the memo, smoking kills.

Having said that, the two units mentioned above are in "gargantuan" buildings and isn't as close to the park. Can't go wrong with location... but anything close to $1Kpsf is a little pricey in this market (IMHO), just look at all the $3000/month rentals in this area, so for $2K/month extra (net of $1K maintenance/tax) you get to live in someone else's "$700K" asset :)

Thanks for the links, those 2 don't seem as charming as 33 W 67th, but I don't think the charm is worth it. Anyone seen this actual unit? or other units in the building?

As I stated in another thread recently, my advice to anyone who has to sell is to "get out in front of this". Price below what you think market is and hope for the best. I did this personally last Spring: I had a unit at 250 West 89th St. The unit RIGHT next door had sold for 785,000 ?9? months before, with not as good a renovation, but since then 2 higher floor, but unrenovated, units sold for like 840,000 and 860,000 by the broker who lived in the building/on the board. We could have priced at 850,000 and seen what we could get. but We were already in mid April and the selling season was closing fast. We priced at 799 and got 795 pretty quickly and closed.

I was afraid of what might happen if we didn't sell and what would happen as time went on and we had to wait till now to sell. And since we were carrying the apartment vacant, you have to include almost 20,000 in maintenance and whatever you want to use for time value of money for a year.

I have to say looking back it is one of the better decisions I've made in the past few years.

ain't that a little "wrong" to have a broker who is also on the Board... if that was me, i would not represent in that building... are there any rules on this from REBNY? Does the NYC RE community have NO rules?

Don't get caught?
smile while you lie?
Small is "cosy"
600 sqr ft is actually 900 sqr ft?
small 1 br is actually 2Br flex?

these are the rules of the NYC RE Broker Community

Only an Honor system, apparently. Good luck with that.

yesterdaze bidding war is todays offered war

yo p09... i got that "joke" on the other thread. can't seem to find it now :)

67:
http://www.streeteasy.com/nyc/talk/discussion/10563-fact-or-fiction-sellers-are-accepting-offers-of-50-of-asking

A bidding war? It went for $450K less than its ask in the fall... hardley a bidding war. More like an action.

"ain't that a little "wrong" to have a broker who is also on the Board... if that was me, i would not represent in that building... are there any rules on this from REBNY? Does the NYC RE community have NO rules?"

I don't think so as long as they abstain from any voting or even lobbying of board members on sales or sublets from not only them, but anyone in their company. I mean, you could go further and ask if it was ethical from a broker who worker for the same company which managed the building to sell or rent there. But it is a sticky issue, because let's say you're a board member who is about to refinance, remodel or anything which required board approval; now this broker's buyer doesn't pass muster but you're afraid if you reject them that the broker will vote against you application to do what you want to do.

But you also have to remember that there's a lot more to being on a board than sales and sublets (well, there should be but an awful lot of people tend to think they don't have to and abdicate their responsibilities and are just on their board for their one pet cause). having at least one RE professional on the board can be very helpful, especially when it comes to wanting to know how other buildings have handled similar situations you may come across. (I know..... broker .... professional .... same sentence..)

It's a sticky issue.