Sale at 15 Broad Street #3122 FALSE ADVERTISING

This unit has quite a "bubble" history too:

StreetEasy History

01/31/2007
Previous Sale recorded for $1,193,290.
03/22/2007
Previously Listed in StreetEasy by Corcoran at $1,650,000.
11/06/2007
Corcoran Listing sold. Last priced at $1,500,000.
11/06/2007
Previous Sale recorded for $1,450,000.
04/25/2009
Listed in StreetEasy by Prudential Elliman at $1,595,000.
05/12/2009
Price decreased by 6% to $1,499,000.
06/01/2009
Price decreased by 4% to $1,445,000.

It's original owners flipped it for a $250k profit 10 months after buying it and now whomever is stuck with it is trying to unload it at 2007 prices.

http://downtowny.blogspot.com/search/label/15%20Broad%20St

I'm not as angry about this.
I can see the need for a HO as a temporary bedroom and, if I were on the market for one, I would like a way to search for them. As this article highlights (albeit during the run up to the frothy peak) these places should go for less than a real, legal 2BR and were ideal for people looking for a one bedroom with a spare room.

http://www.nytimes.com/2005/07/03/realestate/03cov.html?_r=1&scp=45&sq=%22home+office%22&st=nyt

Many conversions (20 Pine, Beltell, 75 Wall, etc.) have similar layouts: One-windowed giant studios. Sure, marketing it "officially" as a 2BR would be wrong, but I am personally someone who'd definitely consider buying such a unit if priced right.

One-room lofts are no longer "in," and people are looking for more compartmentalized units for guests, office space, library, storage, etc., and these home offices certainly serve the purpose.

In terms of pricing...This bldg. is in a prime area, right in front of the NYSE, w/ Hermes as its 1st-floor tenant. I know people trash FiDi w/o really knowing anything about it, but this one is centrally located and is a super, ultra luxurious bldg. (otherwise, Hermes wouldn't have moved in!). So, I am sure there are tangential factors that contribute to the pricing besides the layout...