Awesomely psychotic listing - building at 301 East 62nd Street

Do you think the broker is clueless, or scheming? Are they just taking whatever the owner says and putting it in the listing??

I have an essentially unlimited capacity to think bad thoughts about brokers, but even I can't believe that a broker could come up with this one This has to be the owner.

I appreciate one of these every once in a while. Comic relief in a tough market.

i do note that they painted the apartment... perhaps that accounts for the feeling of the extra 500 sq ft...

Duh, if you put a wall up it makes another room and TOTALLY adds a few hundred square feet. It's magic! Based on the number of converted jr-4s marketed as "huge 2-bedrooms" right now, I figured this was standard practice.

Someday I'm going to buy a studio apartment and transform it into a "sprawling 5 bedrooms, 4 full bathroom residence" by putting up lots of walls - who cares if you'd barely be able to live in it if you were the size of a Barbie doll. The ceilings get a lot higher that way too, so they'll be at least 20 feet. I'll make a fortune.

Maybe they bought a studio next door?

The main problem with that theory is that they didn't. The 2007 listing is still live on Corcoran's web site and the floorplan is identical to the current listing.

#5BCD
So, as we all agree this place changed hands at the top of the market 'Q1-07' for a hair over 2M. That seens like a very low price for the space given the date of the sale. There is more here than meets the eye. That being said, This is priced to sit....4ever. It's is an unrealistic price considering the comp of #9C which is a studio smaller.
Prehaps they have installed central vacume with a 'special attachment' that can only be procured through a clandestine North Korean operative. I could tell you what that 'special attachment' does but, then I'd have to kill you.

falco - thanks, very interesting point about 9BC. Your post made me look closer at the building history. I agree that the 5BCD price seems low for the location and time period, I'm not sure there is more here than meets the eye, at least with respect to in-building comps. Maybe there is something that makes the building trade low vs. others. If so, the new 5BCD listing is even more psychotic.

6B, 6C and 6D all sold between Sept 2006 and Feb 2007 (to different buyers, so not someone buying to combine) for a total of $2,200,000. This is the same aggregate space one floor up for basically exactly the same money as 5BCD, which sold for the full ask of $2,195,000. Obviously with 5BCD you get the combination for free, which makes that apt a bargain for someone looking for space, but it isn't in a different zip code from the comps.

On your 9BC point, if you add the most recent D line sale, 10D for $537,500 in Nov 2007, to the 9BC ask, you get a little under $2.3mm, or about 4% above the 5BCD sale price. Again, in the zip code of where 5BCD sold, and potentially below 5BCD by the time 9BC actually sells.

As an aside, what's REALLY wierd is that 6D resold in April 2007 for $446,000, a loss of almost $200k (30%) in well under a year, which would bring the 6th floor comparable sum-of-the-parts to $2mm from $2.2mm. It looks as if this is not indicative of the building overall as there were several other 2007 or 2008 sales that were up from same unit 2004, 2005 and 2007 sales. Overall, it just doesn't look like this building ran up as much as many others from 2004 to peak, although the exception to that rule would be the same unit resale of 14CD in mid 2007, up 45% from mid 2004.

Here is another interesting feature.
9BC is 2000sq/ft as listed on SE
6D is 580 sq/ft
Now I'm going to get a little fancy here...2000+580=2580

See where I'm going with this 'hint-hint'.
In 5BCD (3000sq/ft) the normal time-space continuuum does not exisit as we know it. They have a 'special-attachment' that allows the occupant to subvert all the laws of physics.
NOW, do you think it's still over priced?

<< Entrance gallery leading to a grand living room with graceful curves and shapes.>>

Unless you think round is funny.

no studio acquired -- not enough increase in maint. re: same

It still sits. It is the second-cheapest 5-bedroom option on the UES, though.

In all honesty, it's the ugliest 2+ million dollar apartment I've seen listed.

Psychotic board as well:
http://streeteasy.com/nyc/talk/discussion/20878-war-of-words-among-co-op-board-members

It's baaaaack. Now listed as #5D instead of #5C, with the asking price cut by more than half and the extra 500sf nowhere to be seen
http://streeteasy.com/nyc/sale/648518-coop-301-east-62nd-street-lenox-hill-new-york

What is the name of this building?

Price cut to $2.2. Now will it sell?

Also been available for rent for the past year. Started at $13K, now at $10K.

http://streeteasy.com/nyc/rental/911141-coop-301-east-62nd-street-lenox-hill-new-york

The building's name is Faulty (Floorplan) Towers.

Why is this place not selling? there must be a reason - any insights?

If you live in the building or sold an apartment in the building - can you please share any insights?

lived there maybe 5 years ago, got out before 2nd avenue subway hit, building well run, decent mid-rise post WW building, roof deck, etc....board a bit crazy back then but issue has to location, next to MTA sub-stations, 2nd ave. subway crap, man stores over there closed, thats the issues

Just went to contract:

04/04/2007 Previous Sale recorded for $2,195,000.
02/18/2009 Previously Listed by ArdorNY
09/03/2009 ArdorNY Listing is no longer available
03/04/2010 Previously Listed by Avenue Real Estate
07/05/2011 Off market temporarily Last priced at $2,495,000.
12/02/2011 Previously Listed by Avenue Real Estate
06/12/2012 Delisted by Avenue Real Estate. Last priced at $2,349,000.
01/11/2013 Listed in StreetEasy, but temporarily delisted, by Town Residential at $2,299,000.
01/25/2013 Re-listed by Town Residential.
06/05/2013 Price decreased by 4% to $2,199,000.
08/06/2013 Listing entered contract.

Curious as to what happened to the board after all the name calling and who's still on the board.