How to unload an apartment

Agreed. I posted that one - grudgingly - on Spinnaker1's contrarian thread:

http://www.streeteasy.com/nyc/talk/discussion/12702-sales-that-seem-to-defy-market-trend

why is this defying trends? adjust for floor and (perhaps--at least according to listing condition) and you're down 15% or so.

Columbia: Exactly. It SEEMS to defy the trend: quick sale, above ask, within 10% of the peak comp. On closer inspection, it's just a case of a top broker doing a great job for her client (and herself) by getting the current market price really fast.

I'd say it's against the "set a dream price and watch it sit for months while making meaningless little chops" trend. They priced it well (or so it appeared to this buyer and another bidder) and got the thing done and over with.

NWT: Very well put.

I think it is very well priced - it also has an extremely valuable view.

They probably also had a statue of St. Joseph head down in a pot of dirt facing toward where they want to move.

Village: To get the full effect of that view, I think you have to position yourself in a particular corner of the living room.

What about this one:
http://www.streeteasy.com/nyc/sale/392773-coop-315-w-86th-st-upper-west-side-new-york

It's a gut-renovation case.

West81st, right, those corner-window views don't really count. Better than nothing, I guess. See also http://www.streeteasy.com/nyc/sale/429862-coop-5-riverside-drive-upper-west-side-new-york, where they've enhanced the effect by mirroring the opposite wall.

Is that a good price? For a 2 br?

That is still so depressing :(

good price for the seller seems to be the consensus.

UWS mom - I think the view on this apt is exceptional. IMHO, if it weren't for that vast protected view - it'd be $1.1 or $1.2m. Its not that special and the maintance is high.

Look if you really want to sell what you gotta do is get on Freeltor.com
there you can sell for Free. get on OLR for free.

Freeltor.com

Scoots, looks like it has one tiny window that looks to the river. That can't be worth $400K, can it?

Another one where an estate seller didn't shit around: http://streeteasy.com/nyc/sale/471717-coop-1088-park-avenue-carnegie-hill-new-york

10/16/2009 Listed by Brown Harris Stevens at $2,550,000.
11/07/2009 Listing entered contract.
12/22/2009 Sale recorded for $2,500,000.

#3B, in unknown condition, went for the same $2.5M in 2005.

Low-maintenance five: http://streeteasy.com/nyc/sale/464812-coop-535-east-86th-street-yorkville-new-york

09/22/2009 Listed by Prudential Elliman at $1,195,000.
10/23/2009 Listing entered contract.
12/23/2009 Sale recorded for $1,100,000.

7J, a floor below and presumably the same footprint, went for $1,400,000 in 2006.

and 1J, with its lowly first floor status, went for $1,250,000 in 2006 as well. that's a big apartment at that price, an easy three bedroom, although it is a pita coop board, no?

Yeah, it's pretty flexible. At first glance the middle bath looks to be en-suite, but the vestibule lets it be a hall bath too.

Don't know about the board, but PITA is OK considering the maintenance.

Must've been more than one bidder for this: http://streeteasy.com/nyc/sale/450689-coop-120-east-81st-street-upper-east-side-new-york

09/02/2009 Listed by Corcoran at $3,395,000.
10/08/2009 Listing entered contract.
01/13/2010 Sale recorded for $3,400,100.

Apparently they bid in increments of $100. Flmao. That's like .00001%

Pricing: are there pricing conventions for what to offer to buy an apartment (coop) next door? We are in a modest size pw 6 (UWS); the sponsor 2-bedroom, 1 bath apt next door is a complete dump, roughly 1000 sf and sponsor put out figure of 875K unrenovated. We are motivated by the idea that 1+1 = 2.5 or 3, and would find good use for the extra space; but believe the asking price is way high, given comparables in the neighborhood. BTW, the apt. is on a high floor, but has virtually no view; maintenance is mid-range.

Gilly: I've combined apts before, and in this market, before you jump on the neighboring apt, these are things to think about:

1) Layout - are you going to get a decent flow with the combination?
2) Price - after combination and reno, are you really getting more space than you could get on the market for the same price. Do not assume that 1+1=2.5 or 3 to anyone else BUT you (pluses for you inc. not having to move, transaction costs, etc.). Price is not a function of square footage alone, but of useable space (see point #1). Would you still combine if 1+1=2 (on the market)?
3) Combined mtce and how they compare to similarly sized apts.

If this is the apt you will be in forever, then ignore 1-3.

BTW, in '02 and '04 (when I bought the component apts for combo), I paid market (and negotiated 5% off ask). 2 of the apts were sponsor units (no board approval).

Multiple bids for 2/2 #11D at Alwyn Court: http://streeteasy.com/nyc/sale/445478-coop-180-west-58th-street-clinton-new-york

08/17/2009 Listed by Halstead Property at $1,650,000.
09/17/2009 Listing entered contract.
01/28/2010 Sale recorded for $1,700,000.

#8D went for $2,200,000 in May 2008.
#9D went for $1,800,000 in 2006.

A combo of two small studios: http://streeteasy.com/nyc/sale/472127-coop-5-tudor-city-place-murray-hill-new-york

10/19/2009 Listed by Bellmarc at $599,000.
01/16/2010 Listing entered contract. (Probably earlier than this.)
01/28/2010 Sale recorded for $650,000.

Priced right (or right for somebody) and moved fast at a hair under ask: http://streeteasy.com/nyc/sale/473913-coop-180-east-79th-street-upper-east-side-new-york

10/24/2009 Listed by Stribling at $4,250,000.
11/18/2009 Listing entered contract.
02/25/2010 Sale recorded for $4,200,000.

Faulty in that the main terrace is off a bedroom, as discussed elsewhere.

Interesting timing and outcomes on these back-facing one-bedrooms in a walk-up TH.

#3C: http://streeteasy.com/nyc/sale/440937-coop-292-riverside-drive-manhattan-valley-new-york

07/30/2009 Listed by Prudential Elliman at $438,000.
09/01/2009 Listing entered contract.
11/10/2009 Sale recorded for $438,000.

#2C: http://streeteasy.com/nyc/sale/481078-coop-292-riverside-drive-manhattan-valley-new-york

11/27/2009 Listed by Halstead Property at $399,000.
12/11/2009 Listing entered contract.
03/02/2010 Sale recorded for $430,000.

http://streeteasy.com/nyc/sale/355435-coop-2025-broadway-lincoln-square-new-york

And sometimes things don't quite work out. when do you say "Uncle"?

Hey what is with the little shriveled gray guy? Do I really want to unhide it? Seems like we should leave the gray shriveled nasties ignored.

Second-floor original-condition classic-six: http://streeteasy.com/nyc/sale/488195-coop-885-west-end-avenue-upper-west-side-new-york

01/11/2010 Listed by Brown Harris Stevens at $1,850,000.
02/06/2010 Listing entered contract.
03/26/2010 Sale recorded for $2,200,000.

#12A went for $2,700,000 in 2005.
#4A sold for $2,000,000 in 2004.

Duh, make that a classic seven. Just learning to count....

Five rooms and big terrace at the Chatham: http://streeteasy.com/nyc/sale/496949-condo-181-east-65th-street-lenox-hill-new-york

02/18/2010 Listed by Stribling at $4,300,000.
02/26/2010 Listing entered contract.
03/31/2010 Sale recorded for $4,200,000.

Sale at Chatham. That's an astounding #. Not prime UES, not name avenue. I've never been to the Chatham - any reason you can think of for the sale price?

Not my choice, either, given the money, but people seem to go for it. See http://streeteasy.com/nyc/talk/discussion/19166-the-chatham

10023, it has seen huge appreciation (beyond the norm). i looked there in 1999, 2000. again, if i could afford it back then it wasn't top of the line. nice for the genre, but nothing special, certainly not $2400 psf for a 2/2 special, no matter how nice that seventh floor terrace is.

Some of the layouts were, IMHO, decidedly better (and larger) than other condos of that era. If you look at the high floor A units (2900+sf) you'll see that while they have come down from the peak in 2008, the three recent sales (30,31,32A) were all in the $2,200psf area, and the layout of those units seems very spacious and gracious. Almost as if he was going for a "pre-war" feel in a postwar condo.

Ph41: but, but - surely there are better buildings than the Chatham in the same area that are trading for less/sqft? What is sustaining the 2k/sqft there, when you don't get that in a Park Ave co-op? I understand the condo-beauty, but does that account for the diff?

AR: What's your theory on the high prices there (then and now)?

ph41: do you remember a prewar Park Ave PH (bigger) that you pointed out to me - closed for something in the 4s? How do you account for this Chatham listing & that listing closing within single-digit %s?

Gotta run. Buried in the tax returns.

10023 - I must say that I passed the building a while ago, didn't know anything about it, but it looked so nice that I looked it upon SE, and was taken aback at the prices. Has a very "elegant" look to it, even, or especially, on that stretch of Third Avenue.

Don't know for sure, but I think apartments on the higher floors have fairly decent, though distant, views of Central Park. Also, remember, it was newer "luxury" construction" with some pretty large layouts, that had many of the advantages of the old-line coops (space, grace, foyers, hallways,etc.) with the advantages of the new (large windows, central HVAC, brand new kitchens and baths, etc.). Even Sandy Weill left his UES penthouse to move across the park to 15CPW in pursuit of the "prewar" feel in a "postwar" condo. I also think that at price points at $$4M and above, a lot of buyers (Weill being one) would really hate having to "humble" themselves before a Park/Fifth Avenue /CPW coop board. And also would hate having to renovate within the strangling constrictions of the renovations rules of those buildings (i.e. all renovations must be done only within the summer months, with heavy fines for time overruns. I believe they call that the "Seinfeld" rule.

I don't remember the Park Ave. PH you mention, but I will try to find it.

10023 - Beacon Court- more expensive, in what I think is a much worse location (I mean, someone may want to shop at Bloomie's but do you really want to live next to it and above a Home Depot?), and the layouts are not always as nice. People go uptown a few blocks, find a much smaller, more elegant building, with some well-laid out apartments at "lower" prices (well, lower to them) and pay because the building looks good by comparison. And I think some of the bigger apartments on the higher floors have the "semi-private" elevator hall, just like some of the large, expensive coops do.

Priced to move, and it did, with multiple bids: http://streeteasy.com/nyc/sale/490501-condop-45-east-89th-street-carnegie-hill-new-york

01/21/2010 Listed by Prudential Elliman at $1,475,000.
02/06/2010 Listing entered contract.
03/30/2010 Sale recorded for $1,610,000.

Then there was #23G, two floors down. Tried to sell a year ago at $1,900,000 and $1,700,000, but gave up.

Another one at the Chatham: http://streeteasy.com/nyc/sale/494497-condo-181-east-65th-street-lenox-hill-new-york

07/21/2004 Previous Sale recorded for $3,300,000.
02/05/2010 Listed by Stribling at $4,150,000.
03/01/2010 Listing entered contract.
04/13/2010 Sale recorded for $4,150,000.

A quickie with multiple bids: http://streeteasy.com/nyc/sale/491771-coop-115-central-park-west-lincoln-square-new-york

01/25/2010 Listed by Stribling at $14,500,000.
02/12/2010 Listing entered contract.
04/30/2010 Sale recorded for $15,100,000.

#8C, a few floors down and also renovated, went for $12,000,000 a year ago.

NWT - wow, do you think the extra two floors might clear the trees for better views? As in a $3,000,000 premium?

Hmmm, the ad does say 10 is the ideal height. But I have no idea why people pay what they do, least of all in the 115 CPW C-line market. Seems to be along the lines of "it's there and I want it."

I remember some agent (Kory?) saying something about 10th or 11th being the perfect height so when you sit down you can still see the view. Too high up, you just get sky when sitting. I'll let you know when I am worth 100m, and able to plonk 20m on my CPW apt of choice.

From today's NY Post:

That psychologist Andrew Shiva, grandson of MCA founder Jules C. Stein, just paid $15.1 million -- $600,000 over the asking price -- for a four-bedroom co-op in the Majestic, at 115 Central Park West, reports The Post's Jennifer Gould Keil

If you inherit the money, you don't worry about spending it.

There is an abundance of silly-money-heir/heiresses on the UWS. Most times when I see an unbelievable comp, there's serious bank behind it.

Multiple bids for this Brevoort East one-bedroom: http://streeteasy.com/nyc/sale/495654-coop-20-east-9th-street-greenwich-village-new-york

02/11/2010 Listed by Corcoran at $949,999.
02/23/2010 Listing entered contract.
05/06/2010 Sale recorded for $950,000.

Multiple bids on a back-facing six at http://streeteasy.com/nyc/sale/495860-coop-101-central-park-west-lincoln-square-new-york

02/12/2010 Listed by Warburg at $2,400,000.
03/02/2010 Listing entered contract.
05/19/2010 Sale recorded for $2,500,000.

The last D-lines to sell went for $2.4M and $2.6M in 2005.

The buyers are down-sizing. Here's their old place: http://streeteasy.com/nyc/sale/500597-coop-630-park-avenue-lenox-hill-new-york

Multiple bids on this 2/2: http://streeteasy.com/nyc/sale/491865-coop-305-west-86th-street-upper-west-side-new-york

01/26/2010 Listed by Halstead Property at $950,000.
02/22/2010 Listing entered contract.
05/20/2010 Sale recorded for $955,000.

#5B upstairs, also renovated, went for $1,030,000 in 2006.

Drop-dead renovated 8-room moved fast: http://streeteasy.com/nyc/sale/499420-coop-610-west-end-avenue-upper-west-side-new-york

03/01/2010 Listed by Corcoran at $3,950,000.
03/23/2010 Listing entered contract.
06/04/2010 Sale recorded for $3,900,000.

Earlier D-line sales:

11/30/2007 #8D $4,100,000 (OK reno)
10/12/2006 #9D $2,850,000 (unrenovated)
02/10/2005 #7D $1,100,000 (estate)
04/15/2003 #8D $2,310,000 (?)

Multiple bids and quick sale for a 2/2 combo: http://streeteasy.com/nyc/sale/503006-coop-10-west-15th-street-chelsea-new-york

03/16/2010 Listed by Halstead Property at $1,325,000.
04/21/2010 Listing entered contract.
06/29/2010 Sale recorded for $1,355,000.

Ditto: http://streeteasy.com/nyc/sale/494494-coop-140-east-81st-street-upper-east-side-new-york

02/05/2010 Listed by Stribling at $1,550,000.
03/23/2010 Listing entered contract.
07/08/2010 Sale recorded for $1,601,500.

#45D, 2/2.5 duplex: http://streeteasy.com/nyc/sale/500326-coop-1020-park-avenue-upper-east-side-new-york

Seller priced it for 2005-ish, and it moved fast with multiple bids. (If actual consideration was reported to the city.)

03/04/2010 Listed by Avenue Real Estate at $2,395,000.
03/17/2010 Listing entered contract.
07/22/2010 Sale recorded for $2,500,000. (not yet linked on SE)

#1011D, apparently not as renovated, went for $2,500,000 in 2005.

Oops, forgot #45D's previous sale, from DoF rolling sales update. Must be 2002 contract.

01/24/2003 Sale recorded for $1,310,000.

NWT: would you say that the common theme is to price at 2005 levels?

That's the vague sense I have. Sort of slicing off the top of curve.

Quick sale at ask: http://streeteasy.com/nyc/sale/507883-coop-1016-fifth-avenue-upper-east-side-new-york

04/06/2010 Listed by Brown Harris Stevens at $4,200,000.
04/27/2010 Listing entered contract.
08/02/2010 Sale recorded for $4,200,000.

Peak in the line was #5B (also fully reno'd with central AC, etc.) for $5,800,000 in 2006.

Triplex next door to Bloomberg's house: http://streeteasy.com/nyc/sale/499752-coop-31-east-79th-street-upper-east-side-new-york

03/03/2010 Listed by Brown Harris Stevens at $7,200,000.
04/01/2010 Listing entered contract.
07/28/2010 Sale recorded for $7,000,000.

No other W-line sales since 2003.

205 West 89th #7H: Big Astor Court six-into-five sold 11.9% above ask in less than three weeks.
04/27/2010 Listed by Halstead Property at $2,100,000.
05/17/2010 Listing entered contract.
08/04/2010 Listing is no longer available.
08/11/2010 Sale recorded for $2,350,000.
http://streeteasy.com/nyc/sale/517474-coop-205-west-89th-street-upper-west-side-new-york

Peak sale in the line was #9H in estate condition for $2.555MM in early 2008.
http://streeteasy.com/nyc/sale/178041-coop-205-west-89th-street-upper-west-side-new-york

2/1 (with an extra toilet off the kitchen) went quickly with multiple bids: http://streeteasy.com/nyc/sale/521314-coop-588-west-end-avenue-upper-west-side-new-york

05/12/2010 Listed by Prudential Elliman at $989,000.
06/02/2010 Listing entered contract.
08/18/2010 Sale recorded for $1,040,000.

Peak was #6A, one floor down, for $1,106,100 in early 2007.

A smidgen over asking: http://streeteasy.com/nyc/sale/554059-condo-151-east-58th-street-midtown-new-york

06/16/2005 Previous Sale recorded for $6,012,257.
02/14/2008 Previously Listed by Corcoran at $13,500,000.
02/21/2008 Corcoran Listing sold. (Date error; there was no sale between 2005 and 2010.)
09/16/2010 Listed by Warburg at $14,750,000.
10/08/2010 Listing entered contract.
11/01/2010 Sale recorded for $15,000,000.

The asking price was a stretch to begin with, as 47D had sold for $11,000,000-something in June. Ambition pays off sometimes....

I don't get the attraction of Beacon Court.

10023 - its like Nello's - paying absurdly high prices for mediocrity is the attraction in itself.

Nicely-done 2/2 got multiple bids: http://streeteasy.com/nyc/sale/504123-coop-201-west-16th-street-chelsea-new-york

09/26/2005 Previous Sale recorded for $1,350,800.
03/22/2010 Listed by Corcoran at $1,295,000.
04/13/2010 Listing entered contract.
10/28/2010 Sale recorded for $1,400,000.

The sellers are down a bit, though, if they paid for that renovation.

1/1 with big terrace got multiple bids: http://streeteasy.com/nyc/sale/507178-condop-63-east-9th-street-greenwich-village-new-york

04/02/2010 Listed by Corcoran at $829,000.
05/27/2010 Listing entered contract.
07/23/2010 Re-listed by Corcoran.
07/23/2010 Price increased by 3% to $850,000.
08/10/2010 Listing entered contract.
10/29/2010 Sale recorded for $900,000.

151 Central Park West (Kenilworth) #8N: Corner seven with big rooms and great views. Estate condition, but worth the effort. Agent did an excellent job of quickly reaching the target audience and letting the market set the price for a fast deal.
07/31/2010 Listed by Brown Harris Stevens at $5,495,000.
08/20/2010 Listing entered contract.
10/20/2010 Sale recorded for $5,049,000 (ACRIS).
http://streeteasy.com/nyc/sale/543660-coop-151-central-park-west-upper-west-side-new-york

415 Central Park West #7D: A well-priced, well-managed FSBO. Classic six reconfigured to take maximum advantage of the Park views. Small bedrooms, but otherwise very nice. The owners had good grasp of their apartment's strengths and weaknesses. They solicited feedback from buyers and brokers, and accepted input graciously. I'm glad the process ended well for them.
04/11/2005 Previous Sale recorded for $1,590,000.
06/19/2010 Listed by Owner at $1,749,000.
09/13/2010 Listing sold.
11/04/2010 Sale recorded for $1,739,000.
http://streeteasy.com/nyc/sale/533951-coop-415-central-park-west-manhattan-valley-new-york

I'd missed this: 1/1 sold in two days, at asking, to the broker next door: http://streeteasy.com/nyc/sale/516686-coop-11-riverside-drive-upper-west-side-new-york

04/24/2010 Listed by Corcoran at $750,000.
04/26/2010 Listing entered contract.
06/01/2010 Sale recorded for $750,000.

The mirror-image 11TE, two floors up, went for $675,000 in mid-2009.

NWT: Looks like DF might have been negotiating that deal before Corcoran published the listing.

Also, hard to use a sale to a neighbor a comp, since neighbors will generally pay something of a premium.

Yes, not a comp. That's why I posted it here and not in a comp thread. Just an example of the neighbor being the best buyer.

West81st, I don't know the terminology, but the Corcoran listing agreement would've excluded a sale to DF, right? (It's funny, I've known him for 20+ years, but this seems too personal to ask about....)

NWT: Yes, there was probably an exclusion clause for direct sales that either exempted the neighbor deal entirely or stipulated a reduced commission. There was a similar sitution recently on 79th Street: long negotiation between neighbors bogged down; owner listed the apartment to create some urgency. It worked - for everyone except the listing agent, who came up empty. I think there was full disclosure, so the broker knew the risk.

The late Louis and Adele Auchincloss's apartment, priced to sell and did, apparently with multiple bids: http://streeteasy.com/nyc/sale/514820-coop-1111-park-avenue-carnegie-hill-new-york

04/17/2010 Listed by Brown Harris Stevens at $3,900,000.
05/27/2010 Listing entered contract.
11/09/2010 Sale recorded for $3,905,000.

Other D-lines went for about $4,500,000 in 2005 and 2007.

A quickie: http://streeteasy.com/nyc/sale/553443-coop-565-west-end-avenue-upper-west-side-new-york

09/14/2010 Listed by Corcoran at $879,000.
10/10/2010 Listing entered contract.
12/03/2010 Sale recorded for $870,000.

The peak for a B-line was $895,000 in early 2008.

A nice three-line history. Three weeks to sell, at asking: http://streeteasy.com/nyc/sale/553316-coop-11-riverside-drive-upper-west-side-new-york

09/14/2010 Listed by Halstead Property at $1,395,000.
10/06/2010 Listing entered contract.
12/15/2010 Sale recorded for $1,395,000.

11LW (one floor down) went for $1,150,000 in early 2005, and 13LW (one floor up) went for $1,255,000 in early 2006. Don't know whether they had this one's spiffy renovation.

215 West 92nd Street #11A: Sponsor six, on the market just long enough to complete a quick-and-easy renovation.
10/19/2010 Listed by Sotheby's International Realty, Inc. at $1,800,000.
11/12/2010 Price decreased by 6% to $1,700,000.
11/24/2010 Listing entered contract.
12/21/2010 Sold and closed. (Price not yet recorded; appears to be $1.6MM)
http://streeteasy.com/nyc/sale/562764-coop-215-west-92nd-street-upper-west-side-new-york

Peak sale in the line was #15A for $1.785MM in early 2007. #11A appears to have been priced off that sale initially, but with some room to negotiate. By the way, the "asking" price on this listing was reduced to $1.6MM yesterday. Assuming that was also the sales price, does anyone know whether the discount off final ask will be treated as 6% or 0% when the brokerages generate their quarterly reports? I have noticed a trend toward adjusting prices on listings after a deal is struck. There has always been a certain amount of book-cooking in this area, but it seems more prevalent lately.

30 Fifth Avenue, 2bdrm, 1.5 bath. 40 days on market. Sales history makes it look like prior purchaser had to sell quickly and had no choice but to accept about a $50K loss. Don't know about the views (I think a couple windows on Fifth Ave but most face back of 24 Fifth), but this is a GREAT apartment in an awesome building in a AAA location. Low maintenance, too, for the area.
09/09/2004 Previous Sale recorded for $(insiders only)
02/03/2009 Previously Listed by Stribling at $1,495,000.
07/08/2009 Stribling Listing sold.
10/21/2010 Listed by Stribling at $1,450,000.
11/30/2010 Listing entered contract.

kyle - I know it's a pre-war (which you love), but looking at the floorplan (and pictures) I really don't get what is so great about this apartment. Kitchen hard by entry, tiny dining area, have to go through the living room to get to the bedrooms - not a wonderful pre-war layout, and worse than many postwars.

ph41: I'll qualify my comment because you are absolutely correct. If you are interested in a 2 bdrm pre-war in this area, this is a very good apartment at this price point. If it were on the upper west side, it would not be good in comparison to what I've seen posted for 2 bedrooms and the related prices in that area. But on lower Fifth Ave, the pre-war layouts are not great, generally. This is a really sweet apartment that costs just a bit more than many one bdrms in the area (okay--30% more) but you also get an extra 1/2 bath. Compared to 2 Fifth, One Fifth, 39 Fifth, 11 Fifth, 20 E 9th (selection of pre and post wars in this just-north-of-the-park section of GV), this is a great apartment for the price/maintenance/building quality/location. And it was priced to sell--obviously. As someone in a jr-four, this apartment would be a terrific stop up one notch; I'm already used to a little dining area and smallish kitchen, so the added building charm and extra bedroom and bath and phenominal location are very appealing.

Hi kylewest,
I think the current O of 10K purchased for $1,125,000 on 9/9/2004, listed at $1,495,000 on 2/3/2009 & went to contract on 11/30/2010 at $1,450,000 (or less). So, current O dropped asking price $50k, but he bought at $1,125,000 in 2004.
Note that 11K sold on 11/30/2009 for $1,227,500, so it'll be interesting to see where 10K closes

Small courtyard-facing one-bedroom: http://streeteasy.com/nyc/sale/544642-coop-305-west-72nd-street-upper-west-side-new-york

08/05/2010 Listed by Halstead Property at $409,000.
09/13/2010 Listing entered contract.
12/17/2010 Sale recorded for $410,000.

The mirrored LR wall does wonders. #4D upstairs went for $360K in 2007, and #7D for $390K in 2005.

The building had famously-high maintenance in the early '90s, but has turned it around since.

522 West End Avenue #7A: Front-facing six in decent condition, with maintenance on the high side.
09/14/2010 Listed by Corcoran at $1,450,000.
10/18/2010 Listing entered contract.
12/23/2010 Listing is no longer available.
http://streeteasy.com/nyc/sale/553441-coop-522-west-end-avenue-upper-west-side-new-york

Corcoran's final update to the listing indicates a closing price of $1.425MM, within 2% of the ask. If that's right, the transaction suggests a significant uptick from the unloading of #6A in early 2009 for $950K - a sale that made several "Best Buy" lists, including mine. #6A was a wreck (from the estate of a sponsor, IIRC), but #7A is hardly pristine.

it appears that 4A sold for 1,542,000 in 2006. certainly tends to support your earlier idea that 6A was a nice bargain.

Another Schwab House one-bedroom: http://streeteasy.com/nyc/sale/529651-coop-11-riverside-drive-upper-west-side-new-york

06/03/2010 Listed by Halstead Property at $925,000.
06/29/2010 Price decreased by 6% to $870,000.
10/14/2010 Listing entered contract.
12/23/2010 Sale recorded for $900,000.

When the nutty first ask got no takers, they quickly chopped and then got multiple bids.

#9RW and #11RW, a few floors up and unrenovated, went for around $750K in mid-2010.

NWT - my head is aching from this.

522WEA - classic 6, no views, I assume okay light goes for 950k, wreck a year and a half ago.
11RSD - Schwab house 1-br, no views, okay light goes for 900k now.

I DON'T UNDERSTAND THE MARKET.

how about this?

the person who bought at 11 rsd make a foolish purchase.

for whatever reason.

reminds me of the old expression

there's no accounting for stupidity.

Me neither. Maybe it was the broker's enthusiasm, or the buyer has a horror of multiple paint layers.

It does help make me appreciate our neighborhood more.

cc, I think they've been bad decisions since 2000. But then my mindset is trapped in 1991.

On that, I think we agree, NWT. My head is stuck in '98 as far as prices go. 522WEA was a good deal. Though of course, one could easily spend and there are those who would argue that 500k is the minimum to spend on renovations.

but however you look at it, if the buyer at 11 rsd saw some of the other possibilities they would be sick. or rationalize them away.

Here's an exception to $20M+ apartments sitting forever: http://streeteasy.com/nyc/sale/564913-coop-927-fifth-avenue-upper-east-side-new-york

10/29/2010 Listed by Brown Harris Stevens at $26,000,000.
12/22/2010 Sale recorded for $29,101,890. (On SE as #11FL.)

This RE couple started out in 1986 in a relative dump at 101 W 79th, moved to a 7-room at 115 CPW in 1998, and are now decamping for the big time.

Yes, this was the home of the late Bruce Wasserstein, and the buyer is supposedly William Zeckendorf who lived in an apartment at 15 CPW (not 115 which is The Majestic). He is the developer of 15 CPW and sold his unit for $40M. It's a huge trade up, imho. 15 CPW looks like a soulless office building in Boston. I think it really tells you something when the building developer moves out for a pre-war stalwart like 927 Fifth Ave.

sorry, NWT, I didn't carefully read your post about 115 CPW in 1998.

I thought 15 vs 115 was a typo too, but looked it up. They may have thought of 15 as an investment and never moved in. I can see why not, as it'd be too much like living above the shop, with the other owners whining if stuff went wrong. (Aside from 115CPW and 927Fifth being better buildings.)

No listing for the 115CPW place (#15G) yet, but not as if there's any rush....

Five-room cut-up on the park: http://streeteasy.com/nyc/sale/551983-coop-907-fifth-avenue-lenox-hill-new-york

09/09/2010 Listed by Stribling at $5,000,000.
10/05/2010 Listing entered contract.
12/16/2010 Sale recorded for $4,950,000.

$100-150K of that would represent a no-bath extra room on the old maids' floor.

No comps for this, but apparently well-priced. This layout occurs on the 6th/8th/10th floors, the C on others having one less room.

Park-view 1/1.5 sold quickly and with multiple bids: http://streeteasy.com/nyc/sale/564497-condo-58-west-58th-street-midtown-new-york

10/27/2010 Listed by Bellmarc at $1,100,000.
11/08/2010 Listing entered contract.
12/30/2010 Sale recorded for $1,150,000.

No peak high-floor A-line sales that I can see. The other one-bedroom lines lack the half-bath.