Sales That Seem To Defy Market Trend

those are insider transactions arent they?

Insider as in Marilyn and Patrizia belong to the same bridge club?

You're right tho, there's likely something fishy with all of these. After all we are 20% off of peak prices.

The 15 West 72nd resale in 2010 appears to be arm's length. #18M was listed at $779K and sold for $748K. Nothing fishy there. The question would be the 2007 sale, where there was no public listing and the seller's address is one floor up. Doesn't look like an insider sale, but it might not be arm's length either. More importantly, the apartment is described as "completely renovated" in the 2010 listing. Condition in 2007 is unknown.

Still a nice sale, but the available information doesn't support any conclusions about market movement. Spinnaker1 knows that, of course, and is probably just trying to get a rise out of us.

251 West 89th St #3F: This oddly-proportioned seven-room at the Admaston looked like a potential train wreck when it was listed with BHS last summer. Instead, it held all but about 3% of its peak value.
12/23/1999 Previous Sale recorded for $1,050,000.
06/20/2002 Previous Sale recorded for $2,300,000.
06/22/2007 Previous Sale recorded for $3,200,000.
03/03/2009 Previously Listed by Brown Harris Stevens at $3,300,000.
08/24/2009 Delisted temporarily by Brown Harris Stevens. Last priced at $3,100,000.
12/31/2009 Listed by Prudential Elliman at $3,100,000.
01/28/2010 Listing entered contract.
04/06/2010 Sale recorded for $3,100,000.
http://streeteasy.com/nyc/sale/486291-condo-251-west-89th-street-upper-west-side-new-york
I didn't like this apartment at all, but scarcity was probably a huge factor here: the pre-war condo options for foreign money are very limited.

W81: Without ACRIS-ing, I bet this guy bought it. http://www.nytimes.com/2010/04/18/realestate/18deal3.html?ref=realestate. And there are fewer than 6 deg. of separation between the 2 of us.

Yup, that's the guy. Pretty generous dad.

Sponsor-renovated 3/3 (no DR): http://streeteasy.com/nyc/sale/501031-coop-444-central-park-west-manhattan-valley-new-york

03/09/2010 Listed by Margaret Bassett Real Estate at $1,200,000.
03/22/2010 Listing entered contract.
05/14/2010 Sale recorded for $1,288,201. (Buyer paid the taxes.)

Same-line #9F, one flight up but apparently unrenovated, went for $1,200,000 in 2007.

Depending on the value of a sponsor renovation, we could call this flat or a bit up.

@444 CPW 9F was asking $1,085,000, but the recorded sales price is $1,200,000. Who knows? Perhaps they built into the price a "renovation allowance" (which probably never made it to the bank or board) so the buyer could finance their renovations?