Sale at 260 Park Avenue South #10D

$1400 psf and you don't even get the benefit of a tax abatement.

It's a great building, in my opinion, but horribly overpriced. Lots of downside potential there, although the sellers seem to be holding fairly firm thus far. Average of all sales, around $1200 psf, current psf $1445. It's continued to trend upward against all odds, but it's time for this baby to start going down.

why do people list sales with citi-habitats? i thought they were mostly rentals and had a horrible reputation

This is a discussion about 260 PAS. Why do you hijack a discussion for your agenda? Why have you developed such a critical reputation?

that the broker for this unit. that's why. I am wondering if there is a reason this unit is listing with a brokerage not known for sales. to me it's a flag maybe not a serious red flag but it certainly makes me wonder. and... oh ebutterfly it's so obvious when you use a different name to jump all over me. happy sunday to you.

anyway. i've seen a couple of units in this building and its a pretty nice building. the price is way way way too high though. i think the same people did the heywood which is another building i like.

I know this building well and I like it. Prices are drifting back to the original sales price when in 2005 which was around 1200 pf. I wouldn't pay a dime over that. Monthly's are a little on the high side. The A and B line are the nicest of the 2brs in my mind.

Waiter i think your numbers must be a bit high. psf prices over the life of sales is $1200 psf, including sales from the 2006-08 period. I'm fairly certain that those who went into contract early before the conversion was completed didn't pay anything near those prices.

10D closed for $3,025,000 ($1210 psf) in February 2006. Contract was from May 2005.

Yes, NWT, but the smaller units went for about $1000 psf in 2006. Good catch, though. Statistically, it just doesn't work that the average psf price during the bubble in a popular building would be the same as offering prices earlyish bubble.

I really like this building. The problem for me is that the second bedroom is, in most lines, so small. The prices have held despite the lack of tax abatement, which I actually think is a positive as a history but not as a going forward (and then will be positive again, my head is spinning too). Maybe I'm just being hopeful, but I don't think so. And I'd probably not do it anyway, because of that second bedroom size issue.

Oh, that was just for cookieOF, since SE doesn't show 10D's previous sale. I don't know from the history of the building. I'm theoretically opposed to using the seller's basis as a factor, but in this case can't see how they'd imagine they could get more than they paid.

abslolute. I almost bought in this building from the sponser and know it intimately.. My numbers are dead on.. 1250 pf was the average.. The B line was slightly higher pf. and the 1 brs were slightly lower. Check the data on street easy. You are wrong.

there are very few easy to easy apples in the buying history. if you go down below and try to match up the apartments (listed in the left column, vs. sold in the right), you will find many at about the $1000 psf. I have been looking at this building for years.

actually listed in the right column and sold on the left.

what kind of flag because someone is using a broker who normally does rentals? is this building going rental?

Yitzchak Tessler did this development. He also did #240. Also the Windsor and the Bryant Park Hotel and some conversions downtown. Not the Heywood.

hirshchanddev, no this building isn't going rental. it's just not so easy to match sales to listings historically here.

JasonKyle, I'm a guy, I'm guessing that someone posting as "ebutterfly" is not a guy. Doesn't change you being cranky or having some odd beef with CitiHabitats that you aren't being upfront about.

i have no beef with citi-habitats. i am going by what i have read on this board and heard in the real world. by your post this time (and the last time which got deleted by streeteasy) you have a remarkably familiar tone and way of asking leading questions to start some kind of fight as a certain delightful ebutterfly. also your screenname doesn't come up anywhere else on the board except now and the one other time you directly responded to something i wrote in a confrontational manner (yet again the post that got deleted). why would you ask me about my agenda? or critical reputation? frankly why would you care? I don't have an "agenda". and i don't have a "reputation" on here. this is a message board where i doubt any sane person gives two seconds of thought to anything i post after they have read it. there is only one person on this board who asks me questions like that or cares about my "agenda" and we both know who that is. anyway why don't you take you own suggestion of staying on topic here and focusing on the building which you have said nothing about. in case you are truly wondering i am not the topic. do not address me again.

Hello jasonkyle and WVbuyer. Doing my regular Sunday evening Streeteasy perusing, and once again I see jasonkyle's attracted more attention, gotten into another fight, said mean things (this week it is CitiHabitats, last month he had problems with the countertops at 133 W 22). Since I'm reputedly a broker, I'm going to invite WVBuyer to call me, maybe I could help. As for jasonkyle, well, you keep talking about "deleted posts" and your "agenda" and whether your reputation is better than CitiHabitats. I think you are a bit paranoid, boyfriend.

Oh, and by the way, 260 Park Avenue South, great building by one of the top luxury developers - NicePad is correct. Not that jasonkyle would know, he's more focused on B and C new developments like Oculus or 133 West 22nd (where I hear the kitchen counters are AWEFUL, OMG).

i'm not in a fight with anyone dear. i just knew if i mentioned or described a "confrontational stalker" you'd appear.

and yes wvbuyer if you need a broker try ebutterfly/laura cau of elliman. she still has the same listing she's been trying to sell for 10 months at 200 Chambers. she likes to change the price up and down 1000 dollars so she can type "JUST REDUCED!" all in caps in the listing with a straight face. i pointed this out once ages ago and she has been all over every single thing i type on here ever since. i wish she would focus on selling her listings with this kind of gusto.

Dude, you've got a problem with CitiHabitats and also with some broker at Elliman? Wow.
I'm in the private equity business so I couldn't give rats ass about your extensive broker problems, but if you want to be a discussion hijacker, maybe you should look at your own problems first before casting eyes elsewhere.
I don't live in this building but it happens to be a great building even if on the expensive side.

yet again. the comment on citi habitats directly pertains to the listing as they are the broker. and i have seen units in the building. you have contributed nothing to the discussion. and yes even if i have a problem with this one broker (the problem being that she is cyber stalking me) i am still doing better than 90 percent of the people on here who hate the entire profession. (except ali and noah of course)
No one on here would "wow" me having a problems with one crazy broker or me asking a question about the benefit of using a company with a terrible reputation that a lot of people refer to as Sh*tty Habitats. Is this just more proof that you are the same person as Ebutterfly perhaps? Who knows. No wait you saying "dude" has erased all doubt because that is so... butch.

"Ebutterfly: Doing my regular Sunday evening Streeteasy perusing, and once again I see jasonkyle"

oh ebutterfly are you frigging kidding me? you have not once ever posted anything but a direct comment about me right after i post something. your comments never pertain to any discussion. you only show up on threads i post on. you show up right after i post with the kind of speed that suggests either a google alert or a sad crazy person who just sits there, constantly online, waiting for me to post something so they can um 'tell it like it is' or whatever fantasy you've told your self to justify months of this behavior. you usually say such horrible, hateful, homophobic, generally nasty things that streeteasy chooses to delete them when frankly i think your hate should be recorded for all time so people know what they are dealing with. i criticized the brokering practices of your listing 3 months ago now and you have been following me on here ever since. are you ever going to pick your self esteem of the floor and get on with your life?

What a case study in how to get under someone's skin!!

nah more like a case study in the sad state of the real estate profession and their use of time

What line of business are you in?

i am perfectly happy to remain an anonymous prospective buyer thanks. no need to expose myself to more weird stalking from crazy.

No worry, unemployment happens to the best of us at some time(s) during our life.

wow what a sense of humor. is she paying you to come up with that?

cookieOF may very well be reconsidering those relocation plans as I type.

ha. aboutready you are the funniest person on here. you always make me laugh. and that i actually mean. i've lived in germany though and i'd rather live in a studio with laura cau/ebutterfly than go back there.

Ah, did someone say Germany!! Jasonkyle I didn't now you were a Sprockets guy as well! Watch me dance!

is who paying me to come up with what? there's big unemployment now. I was unemployed in 03/04. You get on with life.

touch my monkey, touch him now.

i wish i wasn't at work now. i am employed. not wanting to reveal more details of your life to a stalker who has posted hateful anti-gay sentiment directed towards you for 3 months now is not the same as being unemployed.

what?

(my "what" applies to both the paranoid stalker talk as well as the monkey comment that preceeded it)

Jimmy Stewart impersonation on Sprockets, SNL. A pricelss moment in TV history.

East Germany's Most Horrifying Home Videos (the pain is so intense he must vomit) was another gem.

tgous, Jasonkyle is our favorite kept man on streeteasy. It isn't the same as being unemployed. He's got to oversee the housekeeper, make sure that the weekend house is ready, make dinner reservations, fend off the in-laws when they get too intrusive, shop for a new apartment, look pretty, etc.

damn ebutterfly you are so fast with the new names today. but a good hint is to change the tone of your posts to seem "different".

I know little about Laura Cao, so I don't know if being associated with her name is good or bad. Jasonkyle, you are consistent with your nasty attitude. You don't like Laura Cao, you don't like Citi Habitats, you don't like new developments. Frankly, after shopping for an apartment for 12 months, do you like anything? If the person who said you are a kept man (what do they call that formally?) is correct, then I would definitely understand your anger, your complaints about supposed stalking or about hateful speech or whatever else has gotten you so riled up today. For me, what works, what keeps me going, is my own career, life, relationships ... basically I'm my own person.

girl let it go already. i am killing this online identity because your nonsense has become too tiresome. but let's state for the record we both know who you are because we both know we traded emails offline. we both know you are a hate monger and i am sure karma will come calling for you. we have an accepted offer at what i consider one of the nicest buildings in chelsea. we started looking in october and waited until the price was right for us. the offer we made is 35 percent less that the apartment was on the market for in october. that's 7 months and a huge amount of money saved. this is the most important purchase of our life up until now. if you are suggesting people should rush in this market and this economy that you are even more of an idiot that i thought.