What is a good price per square footage

sorry bldg built early 60s

625$ sq foot is a very decent price now for the UES. Just two years ago most went for $1,000 per sqf or just under. If the building looks good, etc, etc., than you are doing well for the this moment. They might fall further in six months but right now, that's about where they should be.

Agree with Bronxboy -- I think $625 sq ft is a very decent price in the current environment.

I agree that $625 per square foot is a very good price, particularly for a full service building. We've been looking at condos in UES for a few months and the price per square foot for a UES 2 bedroom condo is quite a bit higher. Plus Yorkville is a very good area with alot of conveniences.

It is a decent price but let me ask you this:

1. Elevator building?
2. Doorman?
3. Good light?
4. What ave? (It's a lot cheaper to be on York than on 3rd, for example)
5. The sqft quoted - how accurate is it? The place we recently bought advertised 950 sqft but that may be total construction sqft. The TRUE interior sqft is 890. So your price per sqft will vary depending on which sqft you were quoted.

Good luck! We are waiting for the commitment letter these days. It's very stressful, but exciting nonetheless!

Same question posed - what's a good p/sf - for the financial district in an elevator, full-service, "luxury", new development building in this environment?

Sounds like a good price.

But you have to factor in the maintenance as well. Some buildings have high maintenance because the building has a big mortgage on it. Some buildings don't own the land and have a land lease. Lots of factors to consider.

Regarding FiDi...20 Pine had large sunny 2 bedrooms go for $737 psf recently.

yes elevator bldg with doorman and good southern light....it is though between york and first...
thank you all for the feedback: i feel better now....

Who gives a crap what's trading at today. Do you buy IBM at $70 bc it used to trade at $120? You guys have been completely borkered stupidized. Where do you think it trades the year you will sell? Or how about just a good old guess in 1/2/5/10 yrs?

One other thing what is a comparable rental? Pls all you lemming buy at $645psf so I can use that to bid 30% lower in 12 months. W67 and miniw67 will thank you. Hugs and kisses from w67 wife also.

Rissos
For a condo it is def a good price and coop probably a safe price.
As long as maint/cc is 1.50 per ft or less.
For my definition of safe- I think $500 per sq ft is a near worst case scenario in the next 2 to 3 years for a hard deck. Being in at $625 is certainly safe.

On square footage- Yes bring your ruler!