Sale at 1165 Park Avenue #1D

It's a very good building. That seems a great price (for the buyer).

70% down, but still. wonder what they bought it for, and when.

I don't think anybody would argue about the building quality. Nice section of Carnegie Hill, etc..etc..I think what it really brings to light is that in stressful and fearful times, most folks won't "settle". This was discussed in length last fall on several UWS threads. Why go for the basement, prime building no view, bad floor, etc..etc..if this unit actually did trade for 1mm, then wow! I guess we were all right.

Too lazy to ACRIS the transaction. I'm also wondering if the seller bought the basement rooms from the co-op and annexed. If this is your "carry me out the door in a box" apt, I suppose 1m is okay for a nicely renovated dungeon.

10023, it certainly is better than over $2,000,000 for a nicely renovated dungeon.

Holy snooty pants. Come on, this is a pretty nice apartment.

It's nice for a dungeon. I'm not a big views person, but 1st flr apts always trade at a huge discount. Even in the most heated markets, they have to be priced right. I remember a 1st floor apt trading at approx. 50% discount to a 4th flr apt in a nearby building (classic 6es both) at the height of the market. And this is arguably worse than an all-first-floor apt.

this may actually be an exception to the old rule of worst place in the best location.

Fair enough...it is a part of peak that slopes up... So I think the top floor of this is first floor plus a bit of a wedge.

I was once tempted to put in a bid for a 1st floor - maybe a foot above sidewalk level in one of my fav. buildings (Dorilton). E-line, with loss of 2 back rooms. My partner vetoed. Am I ever glad he did. Listen, grasshopper, NEVER buy a 1st floor apt unless it's the apt you want to leave in a box.

When the Dorilton converted, I believe the buyers bought for a little under a 1 million (1700+ sqft). The other apts appreciated at least 100%. This one sold for maybe 40% above conversion price.

my friend tells me the basement level of this apartment is "creepy." Still $1 million seems like a good price.