Sale at 210 East 73rd Street #8C

Fortunately, it last sold on 08/10/2004, so those who are less cheap than I am can see it's current value -- no floorplan or photos necessary, as the borker apparently knows.

I let my $10/month lapse. So I dont know the 2004 price. But I do know a lot of people who feel lucky to sell at their 2004 price. This is a joke. Between 2nd and 3rd. This is an aggressive peak ask. $1.4mm for a straight two bed? Only in real estate. More imbeciles per square foot than anywhere else.

Sorry, "its".

Now I'm really curious about that 2004 price (although it was probably renovated subsequently, fwiw). Anyone?

I am too. They probably overpaid and overspent and are now looking to earn a return, whereas return on renovation is rarely 1 for 1 and prices are at 2004 levels. And people wonder why I hate people.

Bingo. Who rationalizes spending $500k in renovations on an 1100 sqft 2 bed apartment.

It is priced for the condition and the building. This apt clears over the other buildings with great light and a 500k renovation. It is a very special apartment.
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Karin Posvar-Picket, SVP
The Corcoran Group Real Estate
O: 212.605.9248
C: 917.673.1135
Sent from my BlackBerry

We are in a moment of rebirth!
ever moment springs a new!
The RE bubble never came near 73rd street.

My guess...this is a garden apartment. The owners can't see outside so they have no idea what the heck is going on. Not to worry, the experience of the sale will school them. Hope they like their broker b/c their going to be intouch for a long time.

They paid $960k in 2004

I dont see how its humanly possible to put $500k into an apartment like this...especially if you paid that in 2004. 9C just sold for the 2004 price. It must be in better shape than something that allowed for $500k... Or maybe the $500k is just a flat lie. So it seems overpaid and overspent on renos.

This is interesting - none of you serial posters pays the 10 bucks for the price info? LMAO

At this size, in this location, I think you are fooling yourself if you think $1mm is estate condition price. To boot, the maintenance is top of the range for an apartment this size. I think your sellers probably spent way too much on renovations and will be hard pressed to capture a reasonable fraction of what they spent. I will save the listing and be in touch when the sellers have had a chance to enjoy the lack of interest they will receive at this price level.

- Hide quoted text -

On Wed, Sep 30, 2009 at 4:37 AM, Posvar-Picket, Karin wrote:

9C actually it needed a full gut renovation.

If you are looking to pay less than 1M this is not the apt to even waste your time looking at. These sellers spent alot to renovate and wont sell for "estate condition" prices.

Karin Posvar Picket
Senior Vice President
The Corcoran Group
212-605-9248 office
212-415-6229 fax
917-673-1135 cell
kap@corcoran.com
View My Listings

From:
Sent: Tuesday, September 29, 2009 9:04 PM

To: Posvar-Picket, Karin
Subject: Re: [StreetEasy] About your listing at '210 East 73rd Street #8C'

I'd have to see it first. Also, I generally prefer not to get involved with deranged sellers. Either someone is lying about the $500k, or the sellers are very silly to put that much into something that size that they paid $960k for. Really, the starting price for this apartment is the $975k that 9C sold for. That one doesnt look like a wreck.

On Tue, Sep 29, 2009 at 8:36 PM, Posvar-Picket, Karin wrote:

Tom,

Make an offer if you like the apartment. An asking price is just that, it does not mean it will sell at that price....

Karin Posvar Picket
Senior Vice President
The Corcoran Group
212-605-9248 office
212-415-6229 fax
917-673-1135 cell
kap@corcoran.com
View My Listings

From:Sent: Tuesday, September 29, 2009 11:39 AM
To: Posvar-Picket, Karin
Subject: Re: [StreetEasy] About your listing at '210 East 73rd Street #8C'

Its way out of line. What did they pay in 2004? They should be looking to get out at their cost basis. This is a joke.

On Tue, Sep 29, 2009 at 11:37 AM, Posvar-Picket, Karin wrote:

Thomas,

It is priced for the condition and the building. This apt clears over the other buildings with great light and a 500k renovation. It is a very special apartment.
--------------------------
Karin Posvar-Picket, SVP
The Corcoran Group Real Estate
O: 212.605.9248
C: 917.673.1135
Sent from my BlackBerry

----- Original Message -----
From:To: Posvar-Picket, Karin
Sent: Tue Sep 29 11:21:09 2009
Subject: [StreetEasy] About your listing at '210 East 73rd Street #8C'

has sent you a message from StreetEasy.com
About your listing at http://www.streeteasy.com/nyc/sale/466826-coop-210-east-73rd-street-upper-east-side-new-york

Pricing maybe a little aggressive?

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I have to hand it to the broker, her answers are very professional to you very aggressive, bordering on rude, e-mails. I smiled when I read you don't like to deal with deranged sellers. Ha! Don't like competition?

Its interesting that you would say I "border on rude" but then refer to me as "deranged". Quite a bit of real estate between those descriptors, no? I see precision is not your thing. You can congratulate the broker all you like, but the fact is she is "bordering on neglect" in her duties to the seller at this price for an apartment of this size, maintenance, location. At least this thing should be priced to show up in $1.25mm searches.

Maybe the lady doth protest too much. If you were so confident, would you really be so aggressive?
To me, your e-mails come off slightly unhinged, the sort of indignant communications that come with its own shower of spit. One wonders why you are so angry. So the sellers mispriced their apartment (maybe). Why the anger?

You make a good point. That said, besides the use of the word deranged, I dont see much wrong with the exchange. Ah wait, when I said 'this is a joke' that was probably a bit much too.

whatever the case karen p-p (like that) has done a shltload of bus this year

It's a privilege to read such brillant reasoning.

Rhino: your email sounds a tad angry. Don't get worked up about delusional sellers. Life is short.

Rhino, I completely agree with you that this listing is priced wildly incorrectly. But I agree with others that your emails were pretty pointless and unnecessarily confrontational.

The broker is (possibly) well aware that the pricing is all off, but is working with difficult sellers and hoping they'll stick with her as they gradually come to understand the realities of the market ... and the listing began literally the same day that you emailed her (unless there was re-listing hanky-panky). She is obligated to try to talk up the positives of the property, not the negatives, and to let buyers decide what's right for them.

And certainly many properties are priced for delusion these days. Is this particular broker in a position to change that?

I don't think you're deranged, but I'd feel better if I knew that the point to your emails was to provide snarky fodder for posting here. But only because I'm an asshole and I like snarky fodder ... objectively speaking, I don't think that sort of button-pushing entrapment is fair game.

Just move on to an apartment that is in your price range.

It was for fodder and I think it is fair game. In the heyday, I had brokers telling me good luck and read a book if I were waiting for the market to come down any time soon. Given the maintenance and the location, I think this is particular poorly priced, even for a market in transition. Further, I would venture that the $500k renovation figure is a lie. "This is a special apartment" was especially annoying.

Frankly, the broker here presents herself well, given the situation. Maybe off the record (i.e. not email) she would have said something different, but she has signed a contract with the sellers to represent them to the utmost of her ability (or at least by prevailing industry standards).

Hotproperty, why would you assume I cant afford this? Dope.

Where do I ay that you can't afford it? What I don't understand is why you would want to get involved with these "silly" "deranged" "lying" sellers.

posture is a componet of negotiating.
negotiating in a RE transaction is done via an intermediary (broker) who may or be may not be a competent practiced negotiator. I believe all offers must be communicated to the seller. In this market if I wanted to sell my place I really would not care if the buyer was a prick, I'm leaving, ands it's the brokers job to deal with the prick anyway. Isn't that what they get paid for (in part)? If that's a negotiating style that works for you then all the more power to you. This is still a business transaction not a cocktail party. I know lots of pricks in business and their 'prickness' is their super power, socially they are lovely people. Now I don't aprove of jerking around Karin unless you are a serious buyer for that property. The woman has a job to do, we have to respect that.
Interesting strategy.

Why cant I fiddle with Karin? Now they come down $100k. Still far gone.

Ms. P-P looks like a genius now. It actually sold, and for 4.2% over asking price. My brain hurts. The renovations in that apartment are quite nice, but I don't understand that sale price.

Isn't this in the UES comp thread?

I met Karin Posvar-Picket. She was the seller's broker for an apartment at 65 East 96th Street which was taken off the market. I was impressed with her manner. I've met alot of seller's brokers over the past few months and she's one of the few brokers that I actually remember. I later found out that she was the broker for one of my husband's partners when he sold his Carnegie Hill coop. She seems to have a good reputation as an UES broker.

I nominate this for best thread ever - Rhino, the absurdly aggressive know-it-all, getting a schooled by this broker not only on how human beings should interact, but on the realities of the market. Thank you FGC for bringing this back to life.

Lobster-I just saw this. Thank you. I actually had a bidding war on that apartment!

yes printer. happy to note that the asshole rhino hasn't been on this board for months. good riddance to him, and ar. hopefully some of their friends will follow suit.