Sale at 11 Fifth Avenue #3G

There seems to have been something aberational about the #2G sale. It was an estate and looks not quite "pristine" from pix--kitchen looks dated, for instance. In any event, estate may have decided to dump the property for any number of reasons. Also question where the G line in building is and whether the second floor had major issues like being over the garbage collection area or something. Past g-line sales seem more in keeping with 3G asking price.

Very curious. If you find out more, please let us know.

2G says it sold for 1,050,000; perhaps this is the new price point for apartments needing renovation like 3G.

I'm pretty sure 2G was bought by the Coop. There may be more to the sale than meets the eye.

Maybe they bought it for the super.

Does it matter if the coop bought it? It still sets a market price, doesn't it?

I don't care what the back story is...3G should be prepared to get spanked.

2G was an estate sale and was bought by the co-op after making it virtually impossible for them to sell. Their liquidity requirements were more than the total ask of the apartment.

So what does it mean for 3G?

$1.15mm considering that they may have a bit more patience than 2G owners. It is still very close to the street level.

It is interesting that the coop would buy an apartment. What would make more sense to purchase would be the vacant retail space under the apartment which in the future will be occupied by a restaurant/bar. This is what is making it so difficult to sell apartments in this line.

j,

That's the first thing that came to my mind, but when I looked at the floorplan, it seems like 2G is in the North wing and thus overlooking the driveway, as opposed to the South wing where the (8th st) commercial space is; but perhaps I looked too fast.

Going by the pictures from the balcony, 2G and 3G are at the SW corner, at 5th & 8th.