Wow, summer is realy boring in this market. Thought I'd jazz up the board with a review of this OH from this past Sunday. GOOD IDEAS GONE WRONG This is a great place to visit if you are the type of person (like me) that wants to live in an interesting non-cookie cutter apartment. On the surface this place seems ideal. It's an add on. Added to the building as recent as about 2004. It's occupied by... [more]
Wow, summer is realy boring in this market. Thought I'd jazz up the board with a review of this OH from this past Sunday.
GOOD IDEAS GONE WRONG
This is a great place to visit if you are the type of person (like me) that wants to live in an interesting non-cookie cutter apartment. On the surface this place seems ideal. It's an add on. Added to the building as recent as about 2004. It's occupied by the original owner who is clearly Austrialian as noted by the decor. We start with a large central room with a 15 foot ceiling good windows and light. This is your Kitchen/living room/dining room. Large glass doors that let out into a large greenhouse room(heat/AC). I always loved the idea of a city greenhouse. Now the reality...the roof of the greenhouse has been painted black because the room was unuseable due to excessive heat and light......hmmmm, good to know. The painted roof eliminates the dramatic joy of the open experience and coverts the room into some unattractive 'add-on' space...not so nice. There is a monster skylight over the tiny mezzanine master br., seems like a good idea unless you have ambitions of sleeping later than dawn. It had shades and it was a rainy overcast day and that room was still to bright to take a nap. Interesting tiny shower in master bath. The too brs. on the main floor have strange skinny vertical windows that view out on to the common shared roof space which makes for an unusual lack of privacy. The kitchen fixtures are made of wood brought from down under and was touted as a special feature...looked like wood to me. The floors are all unfinished concrete with aboriginal designs. The best I can say for that is there is nothing to rip up when they get finished in adult format. There are two private outdoor space with good open light. Decor and taste not withstanding, this is an intersting place for a couple. The floating staircase is of a pleasing design. The main problem is that this apartment forgot where it is. It's not down under, it's on stinky Grand street in Chinatown. It's priced like it's 2006. For the right couple or single at 1.2MM this might be reasonable. Another delusional seller and their RE agent enabler at work. A sale will require a considerable change in financial expectations.
Gaaday Mate!
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Response by haymil
over 16 years ago
Posts: 7
Member since: Mar 2007
thanks for the review. i was going to try to hit the oh today but didn't make it. now i can be certain it wouldn't work for me.
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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009
Thank you falcongold.
This apartment has been at the backend of my radar for some time. The location is what has kept me from physically going as wemm as the ask.
That was also the neighborhood of a figure I was thinking for it's worth from afar.
If it was a bit more west, I wouldn't be able to ignore it.
Parking a car in that area is a major concern for me.
Same for 334 Grand as well.
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Response by avery
over 16 years ago
Posts: 153
Member since: Oct 2008
lol great review. i look forward to more reviews from you.
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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
$1.8 million to live in Chinatown? And your actually considering buying it truthskr? You would have to pay me $1.8 million to live in Chinatown. Sorry, but I'm not the type of person who enjoys smelling raw fish every day. I would not pay a penny over $350,000 for this place.
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Response by julia
over 16 years ago
Posts: 2841
Member since: Feb 2007
mr. president...ditto
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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009
Pres
You didn't fully read my post!
I wrote "That was also the neighborhood of a figure I was thinking for it's worth from afar."
to falcongolds post of "at 1.2MM this might be reasonable."
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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009
1800 sq ft interior plus @ 360 sq ft exterior
1800 plus 155(half an interior sq ft) 1955 sq ft times $600 per sq ft = 1,173,000.
I don't even think I'd even pay that but it is.....reasonable.
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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009
$1.2 million is still overpriced... way overpriced. When all those stinky fish markets are gone, then talk to me about living down there.
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Response by 11201
over 16 years ago
Posts: 100
Member since: May 2008
That's the LES, fyi. Close to Chinatown but definitely LES. Across the street from Kossar's, Pickle Guys, the Doughnut Plant and the new restaurant row on Orchard Street. http://www.lowereastsideny.com/lesdining.htm The fish markets are a few blocks down on the other side of Allen.
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Response by NYRENewbie
over 16 years ago
Posts: 591
Member since: Mar 2008
Great review falcogold1. Always entertaining!
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Response by grizzly
over 16 years ago
Posts: 11
Member since: Nov 2008
I live in the hood and it is NOT Chinatown. There are no fish markets on that part of Grand Street. Is they are three blocks away on Grand and Christye Streets. There are great restaurants are right around the corner like Barrio Chino and Brown Cafe.I saw the apartment and I thought it pretty interesting If this thing was offered at $1.2M I would take it at a blink of an eye.
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Response by vortec
about 16 years ago
Posts: 2
Member since: Nov 2006
The square footage in the listing can't be right. Public records show interior square footage at less than 1100. When you do some rough calculations using the floor plan (assuming it's to scale more or less), you get a bit more than 1100 including the br on mezzanine. Even if you include the solarium, it's about 1400 SF total heated interior space. How the brokers get to the 1800 SF figure is a mystery. As it is, it's ridiculously overpriced.
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Response by maly
about 16 years ago
Posts: 1377
Member since: Jan 2009
1,800 square feet is all in, the inside, the mezzanine and the terraces. It might have had a shot at 1.6 last year, when it was listed at 2.2. Now, they might have a chance at 1.45, unfortunately it's listed at 1.85.
By the time they lower the ask within 8% of 1.45, the market price might be 1.2.
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Response by truthskr10
about 16 years ago
Posts: 4088
Member since: Jul 2009
Square footage doesn't seem off.
Ground floor base interior (2 beds, living room, kitchen and elevator) look to be 33 by 38 which is 1254 sq ft. Stairwell (it's a full floor apt you have to include it) is 9 by 17 = 153
the mezzanine roughly 20 by 17= 340
1254
153
340
_______
1747 sq ft, not including terraces and greenhouse.
Still just a flush away from Seward Park.
I stand firm on my 1.173 valuation if my can find me indoor parking within 2 blocks.
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Response by vortec
about 16 years ago
Posts: 2
Member since: Nov 2006
Actually, using the dimensions given in the floorplan on the broker's site, you get 514 for living/dining, 189 for the first bedroom, 187 for the second bedroom, and 256 for the mezzanine. Throw in the solarium, 278, and you still only get 1424. That's a long ways from 1800.
Couldn't even get 7200 a month rent for it, how anyone would consider to pay more than $1.4 (200 x 7k) in this fringier than fringe area is full retard.
StreetEasy History
03/26/2009Listed by CORE at $7,900.
07/10/2009Price decreased by 8% to $7,250.
02/02/2010Delisted.
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Response by NYC10013
almost 16 years ago
Posts: 464
Member since: Jan 2007
Sold for $1.745mm. Someone just lost $500-750K. Ouch.
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Response by Underwhelmed
almost 16 years ago
Posts: 17
Member since: Sep 2009
Wow, I can't believe someone bought this! Saw this several months back, and as we walked there the neighborhood was so disgusting we almost didn't even make it to the OH without turning back. The apartment itself was even worse...horrible decor, bizarre layout [literally, the bedroom windows look-out and open onto the buidlings common roof deck), and the 'greenhouse' outside just looks out at the ghetto if you will. I'd prefer to not have a view versus see what you see from there. Nuts. The conversation when we left consisted of 'if your cooky uncle died and left you this place free would you even live there, period?' and 'how cheap would you list this to off-load it asap [I said $750K!!]
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Response by Underwhelmed
almost 16 years ago
Posts: 17
Member since: Sep 2009
Wow, I can't believe someone bought this! Saw this several months back, and as we walked there the neighborhood was so disgusting we almost didn't even make it to the OH without turning back. The apartment itself was even worse...horrible decor, bizarre layout [literally, the bedroom windows look-out and open onto the buidlings common roof deck), and the 'greenhouse' outside just looks out at the ghetto if you will. I'd prefer to not have a view versus see what you see from there. Nuts. The conversation when we left consisted of 'if your cooky uncle died and left you this place free would you even live there, period?' and 'how cheap would you list this to off-load it asap [I said $750K!!]
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Response by grizzly
almost 16 years ago
Posts: 11
Member since: Nov 2008
I met the seller of this property at an event on Tuesday PM. He said he got $7200/month of a furnished rental short-term from straight through June-December. He had about 4 tenants during this time. He also told me what he sold for and SE confirmed it. I posted it yesterday
BTW...I live in the hood and although it may be considered "fringe", it's really great.
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Response by falcogold1
almost 16 years ago
Posts: 4159
Member since: Sep 2008
Here I am to EAT MY HAT!
Wow! I am impressed with the sale price and humbled by my inability to forcast.
Congrats to all parties!!!
Enjoy...mate
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thanks for the review. i was going to try to hit the oh today but didn't make it. now i can be certain it wouldn't work for me.
Thank you falcongold.
This apartment has been at the backend of my radar for some time. The location is what has kept me from physically going as wemm as the ask.
That was also the neighborhood of a figure I was thinking for it's worth from afar.
If it was a bit more west, I wouldn't be able to ignore it.
Parking a car in that area is a major concern for me.
Same for 334 Grand as well.
lol great review. i look forward to more reviews from you.
$1.8 million to live in Chinatown? And your actually considering buying it truthskr? You would have to pay me $1.8 million to live in Chinatown. Sorry, but I'm not the type of person who enjoys smelling raw fish every day. I would not pay a penny over $350,000 for this place.
mr. president...ditto
Pres
You didn't fully read my post!
I wrote "That was also the neighborhood of a figure I was thinking for it's worth from afar."
to falcongolds post of "at 1.2MM this might be reasonable."
1800 sq ft interior plus @ 360 sq ft exterior
1800 plus 155(half an interior sq ft) 1955 sq ft times $600 per sq ft = 1,173,000.
I don't even think I'd even pay that but it is.....reasonable.
$1.2 million is still overpriced... way overpriced. When all those stinky fish markets are gone, then talk to me about living down there.
That's the LES, fyi. Close to Chinatown but definitely LES. Across the street from Kossar's, Pickle Guys, the Doughnut Plant and the new restaurant row on Orchard Street. http://www.lowereastsideny.com/lesdining.htm
The fish markets are a few blocks down on the other side of Allen.
Great review falcogold1. Always entertaining!
I live in the hood and it is NOT Chinatown. There are no fish markets on that part of Grand Street. Is they are three blocks away on Grand and Christye Streets. There are great restaurants are right around the corner like Barrio Chino and Brown Cafe.I saw the apartment and I thought it pretty interesting If this thing was offered at $1.2M I would take it at a blink of an eye.
The square footage in the listing can't be right. Public records show interior square footage at less than 1100. When you do some rough calculations using the floor plan (assuming it's to scale more or less), you get a bit more than 1100 including the br on mezzanine. Even if you include the solarium, it's about 1400 SF total heated interior space. How the brokers get to the 1800 SF figure is a mystery. As it is, it's ridiculously overpriced.
1,800 square feet is all in, the inside, the mezzanine and the terraces. It might have had a shot at 1.6 last year, when it was listed at 2.2. Now, they might have a chance at 1.45, unfortunately it's listed at 1.85.
By the time they lower the ask within 8% of 1.45, the market price might be 1.2.
Square footage doesn't seem off.
Ground floor base interior (2 beds, living room, kitchen and elevator) look to be 33 by 38 which is 1254 sq ft. Stairwell (it's a full floor apt you have to include it) is 9 by 17 = 153
the mezzanine roughly 20 by 17= 340
1254
153
340
_______
1747 sq ft, not including terraces and greenhouse.
Still just a flush away from Seward Park.
I stand firm on my 1.173 valuation if my can find me indoor parking within 2 blocks.
Actually, using the dimensions given in the floorplan on the broker's site, you get 514 for living/dining, 189 for the first bedroom, 187 for the second bedroom, and 256 for the mezzanine. Throw in the solarium, 278, and you still only get 1424. That's a long ways from 1800.
It's now gone.
http://streeteasy.com/nyc/closing/959451
Couldn't even get 7200 a month rent for it, how anyone would consider to pay more than $1.4 (200 x 7k) in this fringier than fringe area is full retard.
StreetEasy History
03/26/2009Listed by CORE at $7,900.
07/10/2009Price decreased by 8% to $7,250.
02/02/2010Delisted.
Sold for $1.745mm. Someone just lost $500-750K. Ouch.
Wow, I can't believe someone bought this! Saw this several months back, and as we walked there the neighborhood was so disgusting we almost didn't even make it to the OH without turning back. The apartment itself was even worse...horrible decor, bizarre layout [literally, the bedroom windows look-out and open onto the buidlings common roof deck), and the 'greenhouse' outside just looks out at the ghetto if you will. I'd prefer to not have a view versus see what you see from there. Nuts. The conversation when we left consisted of 'if your cooky uncle died and left you this place free would you even live there, period?' and 'how cheap would you list this to off-load it asap [I said $750K!!]
Wow, I can't believe someone bought this! Saw this several months back, and as we walked there the neighborhood was so disgusting we almost didn't even make it to the OH without turning back. The apartment itself was even worse...horrible decor, bizarre layout [literally, the bedroom windows look-out and open onto the buidlings common roof deck), and the 'greenhouse' outside just looks out at the ghetto if you will. I'd prefer to not have a view versus see what you see from there. Nuts. The conversation when we left consisted of 'if your cooky uncle died and left you this place free would you even live there, period?' and 'how cheap would you list this to off-load it asap [I said $750K!!]
I met the seller of this property at an event on Tuesday PM. He said he got $7200/month of a furnished rental short-term from straight through June-December. He had about 4 tenants during this time. He also told me what he sold for and SE confirmed it. I posted it yesterday
BTW...I live in the hood and although it may be considered "fringe", it's really great.
Here I am to EAT MY HAT!
Wow! I am impressed with the sale price and humbled by my inability to forcast.
Congrats to all parties!!!
Enjoy...mate