If You Can Demonstrate Market Movement With Comps: Upper Manhattan Edition
Started by notadmin
over 16 years ago
Posts: 3835
Member since: Jul 2008
Discussion about
somehow given how many people are interested in harlem and up (specially on townhouses), i'm surprised this thread didn't prosper. maybe was the lack of (if you can... on the subject). anyway, let's give it another try. 10 Saint Nicholas Place in Hamilton Heights very unique property, in contract for $423 per ft², 45% less than once hoped for (in april 2009). these few are livable townhouses... [more]
somehow given how many people are interested in harlem and up (specially on townhouses), i'm surprised this thread didn't prosper. maybe was the lack of (if you can... on the subject). anyway, let's give it another try.
10 Saint Nicholas Place in Hamilton Heights
very unique property, in contract for $423 per ft², 45% less than once hoped for (in april 2009).
these few are livable townhouses sitting on the market, here with their current asking prices per ft2 and reductions with respect to original asking prices:
430 West 147th Street,$461 per ft², 27% less than 2 years ago.
11 East 128th Street,$476 per ft²,30% less than 1 year ago.
151 West 122nd Street,$490 per ft²,30% less than a year ago.
421 West 144th Street,$461 per ft²,13% less than 3 months ago.
471 West 140th Street,$337 per ft²,34% less than 2 years ago.
108 West 131st Street,$424 per ft², not reduced yet but just listed 2 months ago.
[less]
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007
5J, 4J sold for $405,600 03/09. both sponsor sales, new development.
09/22/2009Listed by Barak Realty at $488,000.
04/23/2010Listing sold.
06/30/2010Sale recorded for $324,480.
Ignored comment.
Unhide
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007
went into contract at a listing price slightly higher than 2005 sale. not possible to tell who renovated, but it looks not unlikely to have been current sellers. $405 psf.
08/19/2005Previous Sale recorded for $345,000.
10/16/2009Listed in StreetEasy, but temporarily delisted, by New Heights Realty at $379,000.
01/21/2010Price decreased by 4% to $365,000.
04/20/2010Price decreased by 2% to $357,000.
07/14/2010Listing entered contract.
Ignored comment.
Unhide
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007
sponsor coop sale. 4C. 2C sold for $440k, also sponsor sale, 10/05. no idea of 2C's condition, but 4C was recently renovated. and the listing claims that this unit's views are unusual, doubt second floor had the same.
10/30/2009Listed by Access Property Group at $449,000.
04/23/2010Listing entered contract.
06/24/2010Listing sold.
06/24/2010Sale recorded for $382,500.
10/14/2005Previous Sale recorded for $270,000.
01/15/2010Listed by Barak Realty at $320,000.
03/27/2010Listing sold.
06/24/2010Sale recorded for $300,000.
06/27/2006Previous Sale recorded for $202,000.
09/15/2009Listed by Corcoran at $234,500.
10/22/2009Price decreased by 8% to $215,000.
12/14/2009Listing is no longer available.
01/06/2010Re-listed by Corcoran.
02/05/2010Price decreased by 7% to $199,000.
03/19/2010Listing entered contract.
06/30/2010Listing sold.
06/30/2010Sale recorded for $199,000.
Ignored comment.
Unhide
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007
3/1.75. 7B. 5B sold for $830k 08/05. 6B sold for $620 07/04. don't know the condition of either, but this unit was recently renovated. quite the chop.
11/12/2008Listed by Corcoran at $1,049,000.
03/13/2009Price decreased by 7% to $975,000.
04/30/2009Price decreased by 8% to $899,000.
08/13/2009Price decreased by 6% to $849,000.
10/19/2009Price decreased by 6% to $799,000.
02/05/2010Price decreased by 8% to $735,000.
04/22/2010Listing entered contract.
06/29/2010Sale recorded for $720,000.
06/30/2010Listing is no longer available.
Ignored comment.
Unhide
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007
looks like they spent quite a bit on the renovations.
06/01/2005Previous Sale recorded for $547,560.
01/07/2010Listed by Prudential Elliman at $550,000.
03/23/2010Listing entered contract.
06/29/2010Listing sold.
06/29/2010Sale recorded for $542,500.
The people who bought apartment 4H on Arden Street got an amazing place for $199k. The two subway lines look fairly close too...maybe I'm missing something, is that block HQ for serial killer society?
Ignored comment.
Unhide
Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
1200 Fifth Avenue seems more like Upper East than East Harlem to me, but I'll defer to SE's geography. Anyway, #5D now asks 35.3% less than the owner paid in 2007.
03/29/2006 Previously Listed by Corcoran at $1,534,000.
10/31/2007 Corcoran Listing sold. Last priced at $1,380,000.
10/31/2007 Previous Sale recorded for $1,389,911.
11/06/2007 Listed by Corcoran at $1,525,000.
11/28/2007 Listing is no longer available.
01/08/2008 Re-listed by Corcoran.
02/28/2008 Price decreased by 3% to $1,475,000.
01/14/2009 Price decreased by 21% to $1,158,000.
01/21/2009 Listing is no longer available.
03/19/2009 Re-listed by Corcoran.
03/19/2009 Price decreased by 14% to $999,000.
05/21/2009 Listing entered contract.
09/25/2009 Re-listed by Corcoran.
11/21/2009 Listing is no longer available.
03/08/2010 Re-listed by Corcoran.
08/21/2010 Listing is no longer available.
09/28/2010 Re-listed by Corcoran.
01/17/2011 Price decreased by 10% to $899,000.
http://streeteasy.com/nyc/sale/152148-condo-1200-fifth-avenue-east-harlem-new-york
"Short sale" is an understatement. The $1,080,000 first mortgage will take a big hit, and the $202,000 second lien originated by PNC is a write-off.
Ignored comment.
Unhide
Response by columbiacounty
almost 15 years ago
Posts: 12708
Member since: Jan 2009
something screwy here.
8,9 & 11D are all on the market at $1,325,000. even accounting for possible brick wall views on the lower floor, this makes no sense.
Ignored comment.
Unhide
Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
Following up on 1200 Fifth Avenue, a sale of #5D at the current $899K asking price would reflect a drop from peak of about 42%, since #4D sold for $1.5MM plus transfer taxes.
http://streeteasy.com/nyc/closing/122289 I imagine the park-facing apartments are holding value somewhat better, but that's a pure guess at this point.
Ignored comment.
Unhide
Response by w67thstreet
almost 15 years ago
Posts: 9003
Member since: Dec 2008
'banks will not accept less!'. Unless it doesn't sell In which case theyll drop the price just like they've been doing.
Fking bank. Don't threaten me with my own taxpayer bailout. Flmaoz.
Hey west81, $900k for 5th ave 90's 2bdrm 2bath condo. 42% below 2007 price. Best buys of , WTF year was Thatz?
Ignored comment.
Unhide
Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
columbiacounty: I think it's reasonable at this point to regard the sponsor's asking prices as little more than a negotiating stance, especially where the rear-facing units are concerned.
w67: The cross streets are 101 and 102, so location is obviously a factor. Upper Carnegie Hill is way down too, but not 42%. When it gets there, I promise to document it.
'/%3e%3c/g%3e%3c/svg%3e)
5J, 4J sold for $405,600 03/09. both sponsor sales, new development.
http://streeteasy.com/nyc/sale/464940-condo-668-riverside-drive-hamilton-heights-new-york
09/22/2009Listed by Barak Realty at $488,000.
04/23/2010Listing sold.
06/30/2010Sale recorded for $324,480.
went into contract at a listing price slightly higher than 2005 sale. not possible to tell who renovated, but it looks not unlikely to have been current sellers. $405 psf.
http://streeteasy.com/nyc/sale/471745-coop-100-park-terrace-west-inwood-new-york
08/19/2005Previous Sale recorded for $345,000.
10/16/2009Listed in StreetEasy, but temporarily delisted, by New Heights Realty at $379,000.
01/21/2010Price decreased by 4% to $365,000.
04/20/2010Price decreased by 2% to $357,000.
07/14/2010Listing entered contract.
sponsor coop sale. 4C. 2C sold for $440k, also sponsor sale, 10/05. no idea of 2C's condition, but 4C was recently renovated. and the listing claims that this unit's views are unusual, doubt second floor had the same.
http://streeteasy.com/nyc/sale/475260-coop-585-w-214-street-inwood-new-york
10/30/2009Listed by Access Property Group at $449,000.
04/23/2010Listing entered contract.
06/24/2010Listing sold.
06/24/2010Sale recorded for $382,500.
same unit resale. new renovation.
http://streeteasy.com/nyc/sale/489304-coop-96-arden-street-fort-george-new-york
10/14/2005Previous Sale recorded for $270,000.
01/15/2010Listed by Barak Realty at $320,000.
03/27/2010Listing sold.
06/24/2010Sale recorded for $300,000.
4H was also newly renovated.
http://streeteasy.com/nyc/sale/462844-coop-96-arden-fort-george-new-york
06/27/2006Previous Sale recorded for $202,000.
09/15/2009Listed by Corcoran at $234,500.
10/22/2009Price decreased by 8% to $215,000.
12/14/2009Listing is no longer available.
01/06/2010Re-listed by Corcoran.
02/05/2010Price decreased by 7% to $199,000.
03/19/2010Listing entered contract.
06/30/2010Listing sold.
06/30/2010Sale recorded for $199,000.
3/1.75. 7B. 5B sold for $830k 08/05. 6B sold for $620 07/04. don't know the condition of either, but this unit was recently renovated. quite the chop.
http://streeteasy.com/nyc/sale/365161-coop-790-riverside-drive-washington-heights-new-york
11/12/2008Listed by Corcoran at $1,049,000.
03/13/2009Price decreased by 7% to $975,000.
04/30/2009Price decreased by 8% to $899,000.
08/13/2009Price decreased by 6% to $849,000.
10/19/2009Price decreased by 6% to $799,000.
02/05/2010Price decreased by 8% to $735,000.
04/22/2010Listing entered contract.
06/29/2010Sale recorded for $720,000.
06/30/2010Listing is no longer available.
looks like they spent quite a bit on the renovations.
http://streeteasy.com/nyc/sale/487584-coop-880-west-181st-street-washington-heights-new-york
06/01/2005Previous Sale recorded for $547,560.
01/07/2010Listed by Prudential Elliman at $550,000.
03/23/2010Listing entered contract.
06/29/2010Listing sold.
06/29/2010Sale recorded for $542,500.
renovated 2/1.
http://streeteasy.com/nyc/sale/476205-coop-552-riverside-drive-morningside-heights-new-york
07/16/2005Previous Sale recorded for $675,000.
11/04/2009Listed by Klara Madlin at $675,000.
01/07/2010Price decreased by 4% to $650,000.
03/28/2010Listing sold.
06/30/2010Sale recorded for $600,000.
The people who bought apartment 4H on Arden Street got an amazing place for $199k. The two subway lines look fairly close too...maybe I'm missing something, is that block HQ for serial killer society?
1200 Fifth Avenue seems more like Upper East than East Harlem to me, but I'll defer to SE's geography. Anyway, #5D now asks 35.3% less than the owner paid in 2007.
03/29/2006 Previously Listed by Corcoran at $1,534,000.
10/31/2007 Corcoran Listing sold. Last priced at $1,380,000.
10/31/2007 Previous Sale recorded for $1,389,911.
11/06/2007 Listed by Corcoran at $1,525,000.
11/28/2007 Listing is no longer available.
01/08/2008 Re-listed by Corcoran.
02/28/2008 Price decreased by 3% to $1,475,000.
01/14/2009 Price decreased by 21% to $1,158,000.
01/21/2009 Listing is no longer available.
03/19/2009 Re-listed by Corcoran.
03/19/2009 Price decreased by 14% to $999,000.
05/21/2009 Listing entered contract.
09/25/2009 Re-listed by Corcoran.
11/21/2009 Listing is no longer available.
03/08/2010 Re-listed by Corcoran.
08/21/2010 Listing is no longer available.
09/28/2010 Re-listed by Corcoran.
01/17/2011 Price decreased by 10% to $899,000.
http://streeteasy.com/nyc/sale/152148-condo-1200-fifth-avenue-east-harlem-new-york
"Short sale" is an understatement. The $1,080,000 first mortgage will take a big hit, and the $202,000 second lien originated by PNC is a write-off.
something screwy here.
8,9 & 11D are all on the market at $1,325,000. even accounting for possible brick wall views on the lower floor, this makes no sense.
Following up on 1200 Fifth Avenue, a sale of #5D at the current $899K asking price would reflect a drop from peak of about 42%, since #4D sold for $1.5MM plus transfer taxes.
http://streeteasy.com/nyc/closing/122289
I imagine the park-facing apartments are holding value somewhat better, but that's a pure guess at this point.
'banks will not accept less!'. Unless it doesn't sell In which case theyll drop the price just like they've been doing.
Fking bank. Don't threaten me with my own taxpayer bailout. Flmaoz.
Hey west81, $900k for 5th ave 90's 2bdrm 2bath condo. 42% below 2007 price. Best buys of , WTF year was Thatz?
columbiacounty: I think it's reasonable at this point to regard the sponsor's asking prices as little more than a negotiating stance, especially where the rear-facing units are concerned.
w67: The cross streets are 101 and 102, so location is obviously a factor. Upper Carnegie Hill is way down too, but not 42%. When it gets there, I promise to document it.