E 38 / Lex Luxury at $556 PSF!

what about this property...i contacted the agent and no response...3 bedroom for $700k!

http://www.streeteasy.com/nyc/sale/392305-condo-303-e-37th-street-murray-hill-new-york

Wow, that's cheap!

But, if I am thinking of the right bldg., that is a VERY hard bldg. to deal w/, 10022. The Board is impossible, and they are running in the red even w/ the $2.5/SF maintenance! You don't see a lot of sale transactions there because you just can't sell... I somehow don't think the Board would "approve" this pricing. Definitely a bad, bad investment--and the ONLY reason you'd buy there should be for you to live and enjoy your life there for the years to come.

In the town my house is in, there has not been a murder since 1998.

and yet you still can't sell.

> Definitely a bad, bad investment

Well, that is much of the city, isn't it?
;-)

And, hell, if we're talking financials, its not like LIC has much of an advantage.

> and the ONLY reason you'd buy there should be for you to live and enjoy your life there for the
> years to come.

Thing is, that should apply to ALL owner occupied manhattan apartments. Just a change in the time...

Hey Mhillqt, did you happen to catch that "3% to agent is paid by the buyer" at the bottom of the description? Did I miss something or are buyers now paying agents fees?

I think there's two different sets of kitchen photos in the listing. One appears to be renovated but cramped, the other relatively spacious but a total wreck. My guess is this apartment is in bad shape.

i contacted the broker and got no response.....called and no one answered...no response to my email....

WEIRD!

You only owe them 1.5% for that then.

Everything about this sounds fishy. I'd try contacting the building. Does this agent even have the listing, or is it a scam?

Wow! I just saw the 3% paid by buyer and that is very odd. Makes me think the prices are low because the buyer is paying out the agent but then again doesnt mean that its any cheaper. Seems a bit shay i agree.

its a scam alright: sqf likely inflated ~30%

Of course this shady listing would be nyc1022's glorious example to support all his off-the-wall assertions about NYC real estate.

Um, LIC, you might want to try reading the thread before flaming. We're discussing the second post by Mhillqt.

we know this building very well as we rent in here.
building is very nice, pool, health club, doorman and concierge.
maint is way too high.
the sq ft numbers are bogus beyond belief. i would suspect 800 sq ft if at all.

That board allows renters???

It's a scam.

One note.
I went to an open open in LIC today and prices are no longer sold in the 500s as some may have suggested.
Seller is holding their line in the low 600s.

this post is getting mixed up with the luxury building in the original post and my 2nd post which is a lesser type of building..

In that building, other $1600 mtc 1 BR's have been closer to 700 sf than 900sf. At 700SF it's a little over 700 a foot with high mtc.

Mhillqt, I've also noticed that listing and been curious, but have made no attempts to contact them. There's a previous listing for the same apt. in SE where you get access to a few more pictures. Judging from the pics the place is huge. It's pretty obvious that the apt. is a wreck, but it still may be a good deal. Square footage is very good for the price and maintenance is dirt cheap. I suspect issues deflating the price may be noise/breathing car fumes, being so close to the tunnel entrance. Still, it's a family-sized apt. and the zoned school PS116 is very good.

BTW: Carol St. you're a pathetic undercover broker. Are you trying to tell us that prices in LIC are going up, or is that just a consequence of your muddled grammar?

rent from the sponsor but i think the co-op board allows renters.

the maintenance is quite high in my view but lots of ammenities. The pricing people are asking are too high in my mind.

The one bedrooms are no-where near 900 sq ft. i think 750 sq ft is more realistic.

"Um, LIC, you might want to try reading the thread before flaming. We're discussing the second post by Mhillqt. "

Ignore LIC... he's just bitter. He got proven wrong about RE, and now he's just lashing out against folks personally because the logic angle is toast.

Just a couple days ago he was railing about Ivy Leaguers, and that post showed him to be not only complete incorrect, but just a bitter, bitter person.