closed listing -- man they got a deal . . .

Those of us who don't subscribe to SE can't see this link. Would you provide the details?

http://www.streeteasy.com/nyc/sale/350898-coop-137-east-36th-street-murray-hill-new-york

closed at 725

Not such a deal with $2K maintenance.

exactly. that maint. is another mortgage payment. probably $1.80/ft

Rent-or-Buy, a good deal and 15% below ask, but not a steal. 18K in the same bldg is asking 749K, so it stands a good chance of closing below 725K. I think they're simply facing reality. 25% below a peak-price lower floor comp (11K for 970K in 2007) and in-line with a 2005 comp (8K for 642K in 2005)

"Not such a deal with $2K maintenance."

very true, "not wanting to be a renter" can cost a few years of full time wage slavery.

This thread is a good idea though, so here's another one in the same 'hood:

225 East 36th #9 O, just closed for 400K

This sale price is 30% below a good condition comp from 2007 (10 O sold for 595K) and 17% below an estate sale of the same year (11 O for 482K) This last one was a flip and the flippers are currently asking 649K for it, meaning 60% above what 9 O sold for. Good luck with that.

30% below peak (not to quote Pat Libman) is where deals are happening. 40% below are good deals.

admin... I likz... "time wage slavery." may i pls use?

tromp, you beat me to the 8K comparison. like the thread idea greatly though.

i'm sure admin will share.

in a buyer's market... the last COMP is what you base your 20% off of.. .so that the idiot that did the trade at $725K... I'd use that to walk into 18K w/ an offer of $580K... congrats you just made $140K in 3 months... go buy a boat!

thank the idiot...

http://www.streeteasy.com/nyc/sale/380942-coop-345-east-77th-upper-east-side-new-york

Listed at $599K, buyer came in quick with an offer of $500K. Deal got done.

Maintenance of ~$500 per room isn't bad in a doorman building.

all yours w67th.

nwt, it's the 1st time i hear "maintenance per room", but those rooms are really tiny. is that sofa in teh kitchen? no way! that's where the living room ends...

If it's 1200 square feet -- no idea what it really is -- then about $1.70 psf. Still not bad. I'm looking at about $2K for a two-bedroom as being normal these days.

W67
Let me wrap my tiny mind around that concept...
' the last COMP is what you base your 20% off '
Could you expand on this as if I am the idiot. The very last sale is the comp. -20%? Even if the sale was last week?
Help me out over here.

http://www.streeteasy.com/nyc/sale/231211-coop-400-east-85th-street-yorkville-new-york
started at S1.95M
closed $1.1M
http://www.streeteasy.com/nyc/closing/795249

a little weird - the listings are not linked in SE but they are the same apt.

Heltr- are you sure? That's my sister's building. I can't get into the 2nd link

not certain at all, just something I noticed while looking at another apt in the building.
the closed listing says it is for 11E and 12E which is what the original listing is for, but there are lots of inconsistencies within the closed link (like the addresses not matching anywhere etc). But the sellers are listed as Japanese and the apartment has a Japanese Tatami room....so it might just be
maybe some one else has some insight????

It's the same apartment(s). The city reported the $1.1M as two separate units, 11E and 12E, while the listing has 1112E. Just a mismatch that SE will correct.

Probably more notice than that so-so building has gotten in a while.

That's remarkable, even if it's not really 2,400 sqft, but, let's say, 2,000, that comes to 550 psf. And most people calculate that based on the square footage as listed, so that would come out at about 458 psf, right?

That apartment was on the market for a long time. The pictures don't tell any great tales, and it's nowhere close to 2400sf. Tromp, it's hard to tell because the floor plan is cut off, but the living room is only 12x22 or some such, it's not that big of an apartment.

in all fairness 11 O is fully renovated and 9 O was not. Still the buyers of 9 O got a great deal- 11 0 does not have 250k worth of renovations in it.

falcogold1... my bad... for not explaining....

let's say it takes 3-4 months to close... that means when that "comp" gets shown on SE or Acris with actual closing $ numbers... and every month brings further bad economic news (unemployment 7%, 8%, 9% 10% etc)... I would offer 20% off that comp since any seller is asking you to catch the proverbial battle axe... in this mkt... a 20% off a comped ask seems wholly reasonable... ask santoact... he just closed, but seems like he met the seller in the middle of where he believed the mkt was going, no?

Let me just also say the size of the cranium is in no way reflective of intelligence but a bigger penis is well a bigger penis....