RE that defies all rational thinking....

Buying and selling, the new new renting.

Bought March 2006 for $1,962,500
acris (block 00234 lot 1020)

StreetEasy History
06/16/2009Listed in StreetEasy by Prudential Elliman at $3,600,000.

But in defense, the paint looks expensive

http://www.streeteasy.com/nyc/sale/429149-condo-161-grand-street-nolita-new-york

I think there is an extra 0 on the end. Should we let the broker know?

Maybe there is a missing 1.

6/16/2019?

truth, that one kicks mine in the ass. Maybe they put in one heck of a dishwasher?

refrigerator.

And maybe that water spouting french thingy that cleans your bottom.

Jacques?

The extra $2MM was paid to draft up that floorplan.

in the agents bio....

"XXXXX prides herself on continually studying the real estate market, staying on top of the trends, prices and inventory."

yes, high inventory with rediculous prices that is corcoran and eliman

161 Grand PH - B LOFT 4 / 1 / 2 1420SF listed $1,500,000 04/11/2002 Sold $1,069,162 08/03/2005

161 Grand PH - B LOFT 4 / 1 / 2 1420SF listed $2,395,000 09/26/2005 Sold $1,962,500 02/15/2006

I guess they figured if the prior buyer/seller could double by buying and listing for sale in less than 2 months at double the price, so could they.

OMG to both!!!

30yrs
Or possibly some very heavy laundry going on.(in '05)
I thought for sure there must have been some combining of apartments PHA and B or a lower floor but not the case.
I'd even almost understand a fraction of an amount if this was first listed Sept '08.

Here's one: http://www.streeteasy.com/nyc/sale/447308-condo-111-west-117th-street-central-harlem-new-york A five-floor walk up in Harlem for almost $1.5 million. See ya on Mars.

Harlem is so off my radar because I would never live there.
That being said, it is actually a nice looking apartment.
I know nothing about the neighborhood and my very uneducated guess would be to assign it the same value as the queens brooklyn coastline or 50% of lower Manhattan market.

Let's see, 2067 interior sq ft and 1486 exterior square feet (value of @ 743 interior feet) for a total 2810 interior sq ft. Asking 1,450,000 is about $516 per foot.
It's not an outrageous ask, is it?

{Fifth floor walkup is tough}

bronxboy, seen this place with my own eyes.
crazy price for a walk up and feels way smaller than the pics make it look. Lots of outdoor space which is good because your gonna need space to keep your attack dog. OK Harlem lovers...let me have it. First take a look at a map and tell me what you see.

crack epidemic redux

http://www.streeteasy.com/nyc/sale/451343-coop-65-morton-street-west-village-new-york

I can't see what this place closed for as I am not an insider, but the pricing history on this is really weird:

05/27/2005 Previous Sale recorded for $(insiders only)
01/29/2009 Previously Listed in StreetEasy by Brown Harris Stevens at $625,000.
05/14/2009 Brown Harris Stevens Listing sold.
05/14/2009 Previous Sale recorded for $(insiders only)
09/04/2009 Listed in StreetEasy by Corcoran at $835,000.

The January 2009 price seems low even for the armageddon fears whiplashing the market at that time. $835 seems closer to market for a 2-br, but doesn't seem somewhat outrageous to be attempting a flip at a 33% profit in just 4 months? What information am I missing here?

evnyc, pull up the BHS listing. the owners bought for $600k on 5/14/09 and renovated it. for what reason, and why they are selling now, one could only conjecture.

The floorplan and 720 sqft do not compute. 720 is the size of a standard one bedroom apt, neither tiny nor large. It is pitifully small for a two bedroom.

Ah, the magical one-bedroom-into-two-bedrooms trick. $235 for a renovation and an extra bedroom. Crazy.

You can't even consider a walk up, no matter the square footage, for less than a million. And the location makes it worth even less. And I like Harlem.

"http://www.streeteasy.com/nyc/sale/451343-coop-65-morton-street-west-village-new-york

I can't see what this place closed for as I am not an insider, but the pricing history on this is really weird:"

sold for $499,000 5/05
sold for $600,000 5/09
asks $835,000 9/09

However, if you look at the prior BHS listing of the unit, it's pretty clear this latest increase includes a renovation.

Fresh off the presses...a new high...for those who smoke too much wacky weed!
http://www.streeteasy.com/nyc/sale/451339-condo-211-madison-avenue-midtown-south-new-york
This very nice apartment changes hands in 10/2006 for $1,375.000.
This very clever buyer finds his sucker and it changes hand again 10/2007 for $2,447,500.
It re-enters the market on 09/04/2009 with a whopping ask of $2,478,000.

The faith some people have in that 'one last sucker' theory.

30 yrs- might include a renovation, but the bedrooms are the size of monks' cells - it would be amazing if they pull this off, but some people will pay anything for location rather than a better apartment.

Maybe they should talk to their upstairs neighbors in 22B who have been on the market since February at a price of $2,195,000 . . . ?

not arms length--tax free transfer at lower prices or doing the laundry at the higher--seems like former given 22B

"30 yrs- might include a renovation, but the bedrooms are the size of monks' cells - it would be amazing if they pull this off, but some people will pay anything for location rather than a better apartment."

Sorry if I came across as stating the "goodness' of the sales ask; it was just a comment that it wasn't a "naked" price increase. no more, no less.

She's perty but she is small.

http://www.streeteasy.com/nyc/sale/379846-condo-251-west-19th-street-chelsea-new-york

2,650,000...and the crack continues

paid 1,650,000 in 6/06

will they owe me the 200 sq ft that is missing from this unit????

someone's living in lala land, that's for sure

Same building....wow how this was pulled off I don't know.

3C was bought in '06 for 2,350,000.
1822 sq ft.
Then the owner mortgaged 2,115,000 of it. (yes the disaster that was countrywide mortg)

Bought 8/13/09 for 1,210,000!!!

http://www.streeteasy.com/nyc/sale/72443-condo-251-west-19th-street-chelsea-new-york

block 00769 lot 1314

truthskr10: see other thread: not real sale

Truth,
your gonna love this....
here, presented for your viewing pleasure is another apartment 'seperated at birth' from your chelsea find:
http://www.streeteasy.com/nyc/sale/392820-coop-215-east-79th-street-yorkville-new-york

Now note the OUTRAGIOUS differential in pricing.
This one might move after a 50% cut and a promise of a happy ending.
It truly defies all rational thinking!
Great post!

truthskr10:

And maybe that water spouting french thingy that cleans your bottom.

alanhart:

Jacques?

Came late to this thread but must say that the above exchange is the funniest I have ever seen on SE. Thanks for the laugh alanhart.

falcogold
Nice find! But of course a coop is worth 1m + less than a condo. ;)

30yrs
Yes Im going to continue on that other thread. Gonna read through those docs on acris more thoroughly and than respond. I saw the two mortgages and realized that the 1.2 must have been paper taken over for one of the notes with accrued interest and penalty. But what threw me is the semmingly deed transfer. The other docs don't seem to clarify but I will read them more carefully. I guess that's what title reports are for. :)

apt23

I've been on here a short time and was hoping wit was more frequent on here. Seems there is enough talent around here.
But "Jacques" was best followed by one or several actually.... SkinnyNsweet posts.

Oh jeez, streeteasy please give us some kind of edit post option so we don't look like we failed third grade english.

change;

and "than" respond to and "then" respond.

as well as "the semmingly deed transfer" to "looks and smells like a deed transfer."

T: would have loved to seen the additional posts - love a good snicker. btw, i find it interesting in OP's post that when Corcoran took over the listing they found an additional 50 sq ft. They must be worth their weight in sq. ft.

50 sq ft I could forgive. 1350 is a weird number. Even 1300 might sound better.
Like price points on everyday stuff. $6.49 or $6.99

this takes my breath away.

http://www.streeteasy.com/nyc/sale/461505-condo-110-third-ave-east-village-new-york

08/15/2007 Previous Sale recorded for $1,715,990.
09/11/2009 Listed in StreetEasy by Khurana Realty, Inc. at $2,095,000.

aboutready
Nice apartment...but the crack pipe continues
Bult in '07 so you know there were no renovations.

There was a rental listing for that same size apartment at $6995 3 months ago.
Will be fortunate to get around 1.4m.....today.

the building is god awful ugly. really. looks like a steroidal elementary school from the '70s.

So they buy at the top of the market and 2 years later, they emerge from a cold war era bomb shelter and drop it on the market with a 12% price increase. You know what this is going to feel like to the seller? Like being hit with a large amount of ice water while in deep concentrated thought. Who ever their broker is, should have said, "don't price it like that, I'll lose all credibility!"

Ouch, my ribs hurt from laughing!

I guess I'll continue my penthouse fever

195 bowery PH aka #12
2409 sq ft interior 800 sq ft exterior
Bought 11/07 for 2,300,000

http://www.streeteasy.com/nyc/sale/432616-condo-195-bowery-lower-east-side-new-york

StreetEasy History
06/26/2009Listed in StreetEasy by Prudential Elliman at $3,900,000.
08/11/2009Price decreased by 10% to $3,500,000.

Pretty close to my dream apt of the moment.
Looks like a trust fund ownership somewhere in there.

block 00425 lot 1021

Yes I am available for adoption.

Sorry my error, it is units 15/16 and bought on 1/07 for 3,500,000.

block 00425 lot 1024

Still available for adoption however.

another penthouse, this at 1 York. they got the market improvement memo, i see.

02/12/2008 Previously Listed in StreetEasy by Brown Harris Stevens at $25,000,000.
06/04/2008 Brown Harris Stevens Listing is no longer available.
06/02/2009 Listed in StreetEasy by One York Sales Office at $34,000,000.

And not to mention the open houses planned through October.

Open Houses:
Sun, Sep 13 (12:00 - 2:00) SAVE to open house planner
Sun, Sep 20 (12:00 - 2:00) SAVE to open house planner
Sun, Sep 27 (12:00 - 2:00) SAVE to open house planner
Sun, Oct 04 (12:00 - 2:00) SAVE to open house planner

I don't know, this may relay lack of confidence in their asking but I could be wrong.

as a prostitute, why limit yourself to one corner when you can walk all four corners?

http://www.streeteasy.com/nyc/sale/178012-coop-2-fifth-avenue-greenwich-village-new-york

a little off topic, but this looks like an example of why you shouldn't overprice. Listed at almost 7mil in Jan 08 and still on the market now for 2.5m less & still a little overpriced imo.

Greedy seller probably would've sold pre Lehman collapse if it was priced more appropriately.

If you read the fine print of One York PH there is an upgrade to this unit that you most likely over looked. the entire apartment is being sealed with a high grade silicone. This will allow you to fill the apartment completely with water and use it as a 'life size' personal aqurium. (reef and tropical fish not included).

or you could move you prostitution business to the town of Four Corners and work all four states.

How does she do it? volume, volume, volume.

Hear the echo?

falco.. did you know the four corners is off... like 20 feet or something... gotta go re-take those pictures......

Sorta like RE, 1500 sq ft, 1520sq ft... who carez?

Ok here's a beauty, 246 west 17th who's lower floors un tax abated are a nightmare in costs is ready to flip for a quick profit. ;)

You have 1B which has $3318 per month in costs sold;
06/09/2009 #1B $998,000 -22.9% $1,295,000 ↓ Sold 1 bed 1.5 baths 1,208 ft²

StreetEasy History
02/14/2008Listed in StreetEasy, already in contract, by Core Group Marketing at $1,450,000.
08/07/2008Re-listed by Core Group Marketing.
01/23/2009Price decreased by 11% to $1,295,000.
04/02/2009Listing entered contract.
06/09/2009Listing sold.

http://www.streeteasy.com/nyc/sale/182289-condo-246-west-17th-street-chelsea-new-york

Has grown 100 sq feet (my those green shoots sprout fast)but prefers discretion and has no apt# listed;

http://www.streeteasy.com/nyc/sale/465526-condo-246-west-17th-street-chelsea-new-york

StreetEasy History
09/23/2009Listed in StreetEasy by Prudential Elliman at $1,395,000.

Good to see capitalism alive and well.

Where can I buy the paint that makes your apartment bigger?

Elliman hardware store!

(They can't put up a floor plan for the apt because the originals are too good and accurate.)
http://img.streeteasy.com/nyc/image/52/3578052.gif

Toss this break with reality on the fire of truth:
http://www.streeteasy.com/nyc/sale/414981-coop-49-east-96th-street-carnegie-hill-new-york
Prehaps a time machine is involved...

Have to say though, Core Group gives the best floorplans.

purchase in 2006 for 986,100
on the market today for 1,495,000

best feature of 49 east 96th street..............................fountain of youth

Come on that bathroom would make Aquaman proud.
Can't decide if I love it or hate it.

Core philosophy: if you can't dazzel them brillance befuttle them with bullshit.

It's all about the package it's not about the product. As long as they keep making lip stick we can keep getting top dollar for pigs. They would gladly up grade that kitchen at a cost to them of a few thousand dollars and pass it to you for a few hundred thousand dollars. If anyone cracked the code of the hapless buyer and their pushy disingenuous broker it's the core group. They know at most buyers core is a fasination with amnities w/o a basic understanding of their value. Like a Viking stove in a motor home.

falco, you simply can't put a price on that blue bathroom.

we showed some restraint in our motor home. just a viking cooktop. the oven is kitchenaid.

BUBBLE BUBBLE I DON'T SEE NO STINK'ING BUBBLE!

http://www.streeteasy.com/nyc/sale/464287-condo-300-east-93rd-street-yorkville-new-york

score another one!
http://www.streeteasy.com/nyc/sale/433607-condo-198-roebling-street-williamsburg-brooklyn

I love these new-construction-condo tales. The sponsor, unloading their last few units, sold 29B for $2.5M in May.

A month later, this yutz offers 32B at $4M: http://www.streeteasy.com/nyc/sale/434459-condo-555-west-59th-street-lincoln-square-new-york

06/06/2008 Bought from sponsor for $3,290,000. (2007 contract)
07/06/2009 Listed in StreetEasy by Steven Kopstein, LREB at $4,000,000.

260 PAS, 12G. up, up and away.

09/07/2006 Previous Sale recorded for $1,588,470.
12/19/2006 Previous Sale recorded for $1,800,000.
08/24/2007 Previous Sale recorded for $2,135,000.
03/09/2009 Listed in StreetEasy by Prudential Elliman at $2,395,000.

146 West 57th Street #74C in Times Square

09/16/2005 Previous Sale recorded for $2,400,000.
06/04/2009 Listed in StreetEasy by Corcoran at $3,695,000.
08/20/2009 Listing is no longer available.
09/24/2009 Re-listed by Corcoran.

So . . . we're back to 2004/2005 prices? Apparently, this owner in the Metropolitan Tower didn't get the memo . . . .

*bump*

weird . . . just entered the comment and this thread didn't make it up to the top of the list . . . hmmmm

Mr Bubble is selling his apartment!
http://www.streeteasy.com/nyc/sale/32462-coop-245-east-87th-street-yorkville-new-york

I need a place that keeps growing in value when the entire market is heading in the other direction.

bump

Mr Bubble is learning but, still riding the little yellow bus to school. Like the hockey helmet.
http://www.streeteasy.com/nyc/sale/377897-coop-245-east-87th-street-yorkville-new-york

forgot about this thread, what do you think of this one?

http://www.streeteasy.com/nyc/sale/466795-condo-59-west-12th-street-greenwich-village-new-york

New to market & completely mispriced. $1,555/sqft for a gut reno in this market when you can get bigger & triple mint for 3.5? Good luck with that. Either the seller isn't motivated or the broker should be fired.

Here try this instead.

http://www.streeteasy.com/nyc/sale/406458-coop-60-west-15th-street-chelsea-new-york

An unscrupulous edit caught my eye.
Though I realize you'll have to take my word for it, the taxes for this apartment used to be listed at $1542.
2 bleecker PH(316 bowery) used to be listed with cc 1939 and tax 1542 and offered 1 year free of common charges.

Which has now upped the ante...."Owner will pay common charges for one year will discount Real estate taxes $500 a month for Ten years!"
However it has magically changed it's taxes to;
Common Charges: $1,938 Taxes: $1,945

http://www.streeteasy.com/nyc/sale/364325-condo-2-bleecker-street-noho-new-york

And for some background on the developer
http://www.streeteasy.com/nyc/talk/discussion/9279-316-bowery

Um correction but same point, it was the common charges that mysteriously rose to make up for the ten years taxes "gift."

Common Charges: $1,470
Taxes: $1,945

http://www.streeteasy.com/nyc/sale/432151-condo-2-bleecker-street-noho-new-york

truth,
let's just figure it out.
the tax seem unchanged at $1945/mo. There going to discount that over 10 years (face value $60,000).
One year cc paid by developer. current cc =$1938 (face value $23,256) I see you object to the cc being raised $468 just moments before this discount, whose face value is $384. WOW what a discount!
This is clearly the special olympics of crafty marketing.

If it's not put together with spit and hope maybe there's a deal to be had. the seller is most likely in trouble although I have no apriory knowlege.

falco
Yeah, nice to pay pocket A with pocket B! ;)

It re-came up on a new search listing and the new monthly nut caught my eye.
(there's an ally-oop for a lewd remark ;) )

The seller is certainly in trouble if you read the discussion thread on them.
http://www.streeteasy.com/nyc/talk/discussion/9279-316-bowery

I saw this apartment and the sq footage is exaggerated, it exceeds the footprint of the building! I recall posting that on one of the sq footage threads.
Further, the floors have to be seriously crooked. The california kitchen counter which was about 10 feet long with those screwing foot pegs to level it had one side all the way screwed in and the other side as high as those legs could go to make the countertop level.

That aside, the cc/taxes are made up as they go along. The developer is still the seller, with all three units still unsold(though maybe rented). Supposedly according the developer, the restaurant (Manhatta)was paying a higher portion of the taxes as told to me.
According to propertyshark, the taxes on the building are

Taxable Value $694,012
Tax Rate x 0.13053
Tax before Tax Abatements = $90,589
Tax Abatements - $0
Annual Tax Bill = $90,589

90,589 divided by 4 units EVENLY (including ground floor restaurant Manhatta) = $22,647.25 per unit or $1887.27 per month!

I think poster NYCHK is not far with his post on the discussions thread;
"NYCHK
about 6 months ago
ignore this person
report abuse If you buy into this development, you're a fool. Kaish & Taub has one of the worst reputations in New York - and that's saying a lot considering how awful most developers are. And Kaish and Taub will never be gone from the building - they'll continue owning the retail spaces on the first floor - and most likely operating them contrary to every applicable Code and Regulation that exists. You'll have nothing but battles and lawsuits. Unless they're practically giving the apartments away, I'd strongly suggest to not buy into this building."

The IED of Manhattan RE.

Williamsburg resales at the Berry Street Lofts. Delusional.

http://www.streeteasy.com/nyc/sale/462935-condo-55-berry-street-williamsburg-brooklyn

11/01/2005 Previously Listed in StreetEasy by Prudential Elliman at $880,000.
02/14/2006 Previously Listed in StreetEasy by Corcoran at $930,000.
08/18/2006 Corcoran Listing is no longer available.
04/20/2007 Prudential Elliman Listing is no longer available. Last priced at $745,000.
09/15/2009 Listed in StreetEasy by Halstead Property at $859,000.

http://www.streeteasy.com/nyc/sale/421803-condo-55-berry-street-williamsburg-brooklyn

03/01/2006 Previously Listed in StreetEasy by Corcoran at $848,000.
08/18/2006 Corcoran Listing is no longer available.
11/14/2006 Previously Listed in StreetEasy by Prudential Elliman at $795,000.
06/06/2007 Prudential Elliman Listing sold.
06/06/2007 Previous Sale recorded for $(insiders only)
06/11/2009 Listed in StreetEasy by Corcoran at $950,000.
07/30/2009 Price decreased by 6% to $895,000.

crazy crazy crazy!!!
Purchased on 03/14/2005 for $868,669 and today....
http://www.streeteasy.com/nyc/sale/461353-coop-300-east-74th-street-upper-east-side-new-york
almost double!!!!
now that's a good investment!

It might have been renovated since then, which certainly would justify some sort of uptick.

Looking at the few F lines that sold, they were all above $1.3M - this might have been a divorce sale where one party bought out the other.

As the new owner of a little UWS penthouse I decided to do a search on keyword penthouse. This one might serve to illustrate the dangers of applying faux paint without the proper respiratory apparatus.

STREETEASY HISTORY
09/10/2008 Previous Sale recorded for $999,900.
09/24/2009 Listed in StreetEasy by Corcoran at $1,895,000.

http://www.streeteasy.com/nyc/sale/465637-condo-253-west-73rd-street-upper-west-side-new-york

Or else they're smoking some very powerful stuff. Well, that's what happens when the only way to get to the terrace is upstairs and through your bedroom

spinnaker1: Maybe you can convince Larry Schier to give you a special combo price for 17H and this other unit at the Level Club:

http://www.streeteasy.com/nyc/sale/466005-condo-253-west-73rd-street-upper-west-side-new-york

I wonder... if I go to Venice, am I really going to see plaster like that?

Spin, OnTheMove,
these paint jobs only reinforce one major theme:

Say no to drugs, stay in school.

Larry schier 'the queen of level club'. That guys got that bldg so locked into his thighs noone noone can pry that thing open.

falcobigot, you piece of sh*t, I thought you were taking w67's advice to lay low. Guess you decided to come scurry around in the sunlight for a bit. A**hole.

spinnaker - you'll see plaster like that , but not those godawful psychedelic colors

It's spelled shit and asshole, that's for your mceducation. Who is this dipshit or is he one of the similar sounding handle crew? F'n loser.

sidline,
Are you OK?
Your writing like your having a stroke.
Bigot? what the heck are you talking about?

http://www.streeteasy.com/nyc/talk/discussion/15030-another-inventory-uptick

OK, little thin in the skin but, if your antenna is that sensitive...sorry.
You have to admit there are alot of Optomitrists in Chinatown (that's what I had in mind).

on another note...kiss you mother with that mouth?

Here's another really deluded seller - 111 Central Park North - Penthouse A
Sold 2/2008 for $4.975MM
Now on the market for $6.4MM (which is probably somewhat less the the original asking (can't find original asking in SE)

Just for reference, PHB, originally on the market for $12MM in 2007, sold for $8MM in 4/08. Hard to believe that someone paid that much for it - probably regretting it now.

Well the value of 111 CPN has risen dramaticly since news leaked that their property would soon be graced by McDonalds. Keep in mind they are not in the hamburger business, they are in the RE biz.
Good spot!

We went to an event that was held in the big penthouse before people had moved into the building. Penthouses at that time were still for sale. The views, straight down Central Park were absolutely amazing.

See the rats on the street as we came out was something other than amazing.

Seeing the 112 CPN listing made me think about Spinnaker1's post a few days ago about penthouses, so, had a little fun doing an SE search.

Basic criteria - 2BR/2BTH, doorman, (anywhere in Manhattan) Penthouse. Up to $6MM. Came back with 179 apts.

Okay, assuming if you're looking for a penthouse you might want a terrace, (NOT a balcony sort of thing) so put that into the search. Came back with 114 apts.

Okay, so you really want a fireplace, but don't need the terrace. Came back with 31 apts.

Now, let's be greedy - want the penthouse, WITH a terrace, AND with a fireplace. Have all of 11 apts. to look at.

Didn't even bother to put in "washer/dryer in apt

ph41,
just took the time to look at PHA.
just a fishing trip, I would bet.
Nice place.

Okay, I guess this means your prewar (?) PH must be worth at least 10m, right? Because you have a terrace, WBFP and W/D in your apt.