Mr. Peabudy and Sherman Towers

I agree with you. I like it. Abit far from the train but otherwise not much to complain about. I actually was thinking "Why hasn't it sold now that the price is in the right range?" I would do a little surgery moving the wall for the second bedroom to make the bedroom larger. The living room doesn't need the extra space. Maybe even add a small hottub on the terrace if the coop allowed.

Four blocks is considered far from the train? This building is unattractive.

nice looking apt with plusses outweighing negatives. assume you want constructive criticism so:

--- 8'6" and 10" widths on bedrooms

--- expanding the smaller b.r may require dealing with terrace door

--- looks like relatively few 2 br in bldg

--- combined units generally have relatively higher maintainence

please read above as trying to focus on negatives for you, overall a very nice apt.

both baths are in-suite. if you want to use it as a real 2 br, you'll need to redo the bathroom, at least the door location, to the one next to the small bedroom as well as remove the closets in the 2nd bedroom. for the size of the apartment, the kitchen is a small.

Great comments...what about the price?

Little help?

I have two issues regarding this unit, but they both pertain to resale potential. This really presents as a one bedroom with office, not two bedroom. As such, it doesn't really meet the needs of many people who are looking for this type/sized apartment. Also, this is a building with few larger units. You are buying at the high end of the building's inventory options.

The price reduction is striking, but the price per square foot is fairly typical of the pricing of the last few years. And I suspect it isn't easy to find a buyer for this space. If it suits your needs, and resale in the medium term or longer is not intended, I wouldn't say it is overpriced, per se, but i do think there will be more downward movement in this location and in this type of building.

AR,
Good feedback. Why is buying 'into the hugh end of a building's inventory options' an issue?

like buying the most expensive house on the block...never a good idea.

when people look at comps they look sideways and then up to determine potential. you'd have little sideways comparisons, and as such a couple of distressed sales in your size range could have a much greater impact on your resale potential. Same is true with buying in a building with only a few units. In a building of this ilk, one of the things you usually get is a fair number of comps, making it more easy to do comps when buying and a bit less risky at resale.

Take a really close look at those curved 'solarium' windows; they almost always end up being a long term problem.

So, all that being said, could this end up being a deal and at what $ ?

falco, i try to be a helpful sort, not imbuing my personal inclination too greatly into discussions of individual properties. but i must say i don't think that any purchase right now is a "deal." there is simply too much uncertainty.

I can deal with buying in uncertain times, but I really can't deal with borrowing money in a moment of total credit paradigm change.

Ok AR,
If I get your drift you are saying that any RE (residential) purchase at this time is jumping the gun because the market is in a downward trend and, trends presist and over correct and...as my SE pal you want me to get an amazing deal correct?

absolutely Falco. But if you really need/want/have to buy, let me know and i'll be happy to take a look at the building, neighborhood, and apartment type comps out there and try to pin down an approximate range for an offer.

I just wouldn't call anything a deal right now (well, i'm sure something might get me there, but i haven't seen it yet).