Sale at 20 East 74th Street #7G

Not bad, compared to other listings in the building. The UES is glutted with overpriced one-bedrooms, though many of the cheaper options are further east.

This is right off Fifth - really can't compare with places east of Lexington (all those cookie cutter 2nd and 3rd avenue buildings). It must show really badly, and look at brick walls because otherwise it really does seem to be a helluva good price.

I would never, ever consider nearly three quarters of a million dollars for a one-bedroom a "good price," but to each his own.

Well,it's $695, not three quarters of a million, and they paid $785 for in it 2007 - obviously they're in trouble on this one, so it would sure seem to appeal to all those who want to see things return to pre-2005 levels, as this one might.

As I said: nearly three quarters of a million dollars. $695k is damn near that, especially if you factor in closing costs. So one person overpaid for an apartment, and now that this person is in distress you want to make the same mistake? Because I think you will see a lot lower than a measly 11.4% off the original purchaser's price over the next five years.

I think one-bedrooms and studios have the farthest to fall. 2005 was not exactly a golden year for rent/price ratios in this city. But if it's appealing to you, and you want to throw another couple hundred thousand dollars into renovating the place, hey, have at it.

50% down? Pasadena.

It's in contract...again. Way back when I was looking more seriously I asked my broker about it and word was you needed 4x price liquid AFTER your down payment. That's a lot of Benjamins.

Say it goes for $650k, that means you need 4x650 = $2.6M + down payment (50%) $325k = $2.9+M to start.

It also needs renovation. You can look at the floor plan from the previous broker to see a "recommended" layout. http://img.streeteasy.com/nyc/image/29/2533429.jpg

Well, turns out it was a bargain.