200 E 89th St. - 1,289/sft

What did they get?

$1,710,000
on 04/29/2009
Sold: 200 East 89th Street #39D

Aren't you guys surprised about the price? I feel this is quite overpriced.

yes...I would agree with you (and that's a first!).

It appears that the fish are biting.
3 bedrooms, dramatic views, good location.
There has yet to be the capitulation that all buyers are waiting for at the crummy end of the market. At the nicer end, apartments are still comanding high per sq./ft. $$$. This is the 1MM-2MM market of which I speak.

Yeah, surprised. But it sounds like the reno was done post 2007 purchase. So still flat from 2007, which I consider a real win from seller's perspective. If you can find a buyer that really loves the apartment and is planning on staying for a while, can still get a good price.

But UES look at the price at opurchase in 2007. About 1,000,000. Do you really think that they put close to 700,000 into it?

Huh? I would assume the purchase price in 2007 was 1.5 and change. So they would have put in around 150-200k. Where are you getting the $1M number from?

that's what they closed for in 2007, 33% below asking. Weird. I think they comped it to 40D, which sold for something similar in fall '08. not a ton of three bedroom condo resales on the UES, could have affected the price.

sometimes when you aspire you attain.

Wow. Sure that isn't an error? If not, more power to them. Really interested in meeting those buyers though!

Actually, it is a typo. Closing price was $1,575,000 on 7/30/07 based on NY Times list. That makes more sense so that is what I would go by.

http://realestate2.nytimes.com/comparables/

LMAO.... you thinkz this deal doesn't have a financing contingency? Shit if it was me, just to piss off the seller, I'd go thru the gyrations and have my bank reject my offer so that I can go back and talk some sense into these sellers... butz thatz justz mez.... all fair in SE postings and war.

w67th, love you man, but this deal has already closed.

damn.... AR... should've paid the $10 :)... about the little get together... what an off-line email.. if I may ask :)

w67th, usually i don't try to understand you literally. getting a sense does it. but since you asked me a question, could you clarify? did you mean what is your off-line e-mail? i think so, but i would never assume... :)

"At the nicer end, apartments are still comanding high per sq./ft. $$$."

Actually, the stats show the opposite. The high end is getting hit worst of all...

he may speak in tongues but as far as i'm concerned, he remains the man.

He means 1-2M. This isn't really high end by NYC prices.

UES_Buyer, anything over $1m is fairly slow right now. It's the loan thing.

w67th, just joshing. if it was the e-mail address that you were looking for, just in case because I think my life could be immeasurably enriched by merely one or two of your direct communications, it's aboutreadyse. and @gmail.com.

ciao.

"the fish are biting"

falco: you play poker at all?

"At the nicer end, apartments are still comanding high per sq./ft. $$$."

"Actually, the stats show the opposite. The high end is getting hit worst of all..."

He didn't say "higher end", he said "nicer end". Nicer end can be regardless of size or price. Didn't the same thing happen at 145 East 15th recently? Perhaps I'm remembering wrong. Anyway, what tends to happens in markets like this is that all the buyers line up in front of the "nicest" apartment in the price range, and one gets it. then, the entire group moves on the the next "nicest" apartment in the price range, and so on and so on.

Look, even if volume goes down by **95%**, it still means 5% of the former volume are selling. It doesn't mean none are. Now, you can compete on price or you can compete on quality (I'm not just talking RE, I'm talking anything; it was an old IBM (and then Arthur Andersen) line: "We compete on both!!!"). And think of what you've got here: everyone is saying "don't buy in the new developments because....". Well, what if you want a "new" apartment? Here you essentially have the best of both: a new apartment in an established building, and all you need is one buyer, and even with all the economic upheaval, up $1 millions is still a pretty fat part of the Manhattan market.