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New Morningside Park listing

Started by Columbus
over 17 years ago
Posts: 132
Member since: Apr 2007
Discussion about
What do you think of this one? West 115th & Manhattan Avenue near Morningside Park and Columbia University: $750K http://www.streeteasy.com/nyc/sale/391959-condo-367-manhattan-ave-central-harlem-new-york
Response by sledgehammer
over 17 years ago
Posts: 899
Member since: Mar 2009

I don't know where they get 1400Sq feet. I added the sq footage on the floorplan, it's less than 850sq feet + 247sq of garden. It's a nice apartment but i don't think it's worth more than $525K.

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Response by Squid
over 17 years ago
Posts: 1399
Member since: Sep 2008

Hate the garden-level bedrooms, especially the one with the crappy basement windows. And who wants to be sleeping next to the boiler? Ugh.
Bars on the windows, anemic outdoor space, crummy layout--the whole thing looks depressing.

Nice facade, though.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

Columbus, you posted this same apartment 12 days ago. Are you its owner?

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

Oh, and yesterday on the East Harlem thread also.

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Response by Columbus
over 17 years ago
Posts: 132
Member since: Apr 2007

No, Alan D. Hart, I am not the owner of that apartment.
It is Joseph Perello. I bought 371 West 117th Street, #4D from you in August 2007 for $835,000 or $807 psf for a measley 1,034 square feet. Only it turns out that you lied about the square footage so it was really was a lot more than that. Nevertheless, decades from now, economic historians will marvel that a confidence man like Alan Hart was able to unload an inferior apartment like 371 West 117th Street, #4D for $800 psf+.

http://tinyurl.com/dmlppt

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Response by jason10006
over 17 years ago
Posts: 5257
Member since: Jan 2009

You can get a 2/2 in a DOORMAN building, brand new, very nearby in several bldgs in Harlem. Not sure this is quite worth it. Although as two full stories of a brownstone, I think 1400 is correct including stairs and everything. Mine 1.5 floors and 1300 SF (though 19 wide.)

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Response by Columbus
over 17 years ago
Posts: 132
Member since: Apr 2007

The square footage appears accurate. The basic box is 19.5 feet wide and 38 feet deep. That is 741 square feet X 2 floors = 1,482 square feet less a deduction for the stairwell space taking up two levels is about 1,400 square feet. The price at $535 per square foot seems reasonable for 2009 pricing and for the part of the space that is partially below street level having a lower value. Seems like a good value if your household size requires that much space, especially if there is any negotiating room on price.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

Congrats, Columbus, you've mastered the wildly complex world of ACRIS!

Why are you obsessed with 367 Manhattan? As Squid pointed out, it's highly flawed, and it's clearly overpriced in this market.

At $550 psf (an ambitious price for that site), and half that for the below-grade space, it works out to a hopeful $577,500.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

Additionally, Columbus, if you're seriously interested in 367 Manhattan, you should note that the broker appears to have a delusional, ridiculously difficult client who refuses to grasp market realities, and especially the reality of plummeting prices. Note the huge span of time, and also note the pitbull-like fixation on the same ask:

StreetEasy History

03/20/2008
Previously Listed in StreetEasy by Corcoran at $795,000.
09/19/2008
Delisted temporarily by Corcoran.
03/15/2009
Listed in StreetEasy by Prudential Elliman at $795,000.
04/01/2009
Price decreased by 6% to $750,000.

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Response by jason10006
over 17 years ago
Posts: 5257
Member since: Jan 2009

I was actually trying to say that one could get a 2/2 in a brand spanking new doorman building in the area for the same price, so i was disagreeing on price. I think, unfortunately, its perhaps 10% too high given what you can get at Kalahari, or at other places on FDB etc in a 2/2. If you NEED an outdoor space, its not terrible, but its not fantastic either.

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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007

How's this one going?

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