building at 61 Irving Place

Apt. 7D sold for $860,000 in February of 2008. How is paying $985,000 for 1D make any sense at this time ? $750,000 seems more realistic....anyone out there ?

i love irving place...great neighborhood, restaurants, shops, you'll be very happy.

7D does have the sleeping loft--which notably has a real not spiral staircase--nor is as well renovated. (I looked at it when it was on the market). That being said, no way a first floor 1B unit is worth almost $1MM in this market but the location is great.

I mean 7D does NOT have the sleeping loft...some day I'll learn to proof before I post.

if you have $985 and love the place then go for it...$750k does seem more realistic but it's your timeframe...sellers are going to take their time before reducing the price...it could take 12-18 months.

The seller has gotten no bites since the apt. went on sale a few months ago...It's a time for a price reduction. Don't you agree ?

Julia...thanks for the info !

Hey lizyank,

If 7D went for $860,000 last year (Feb. 2008) after they were asking $910,000 , Apt. 1D should go for a lot less. Agree ?

thanks for your comments...Keep those cards and letters coming.

saw this place yesterday...it's way overpriced !

Loved the bldg., and the units I saw had interesting layouts. This is probably one of those bldgs. with "unreliable comps," because each unit is done in vastly differet ways. The finishes in the 1st-floor unit were definitely top-notch.

The major turn off, though, was the doorman. The guy was just nasty to me. He essentially told me that the bldg. was too good for me and that I wouldn't like it there anyway. I have been to 100s of open houses, and I have never been treated that way elsewhere.

maybe the doorman is a laid off wall street executive...

They place has sat on the market for over 600 days(!) and owner is nickel and diming silly miniscule price cuts. It is a one bedroom (not two) with $1600+ maintenance, Irving can be a windy and dark shaded corridor, and the doorman has attitude? Please. This combination doesn't get me excited about a place. Especially at that ridiculous price. I am not a "sky-is-falling" bear, but I'm a realist. A nicer apartments with great views and same basic layout sell for less on the Lower Fifth gold coast or surrounding blocks which are considered an "A-1" neighborhood in terms of desirability and "cache" versus Irving. I think the apartment you post is still overpriced by AT LEAST $300,000 in this market.

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everything is overpriced. Seems like many optimistic folks willing to overpay for property that is on the way DOWN. Isn't that how we got into this mess. Just wait until deflation hits.

Thoughts on this building?