Sale at 101 West 23rd Street #3D

It's a one bedroom, not 2.

The living room is 9 feet wide!! And the "second bedroom" is not a legal bedroom because it doesn't have a window. This place looks like to would be better as a dollhouse. And for that space, yes, the maintenance is very high.

Isn't it the private land lease building? I believe the land lease will expire in 30 years or so, making it very difficult to 1- get a 30 year loan, and 2- resell down the line. So you have to look at your purchase in terms of depreciation to 0 over time.

I think it is a ground lease that is expiring with no resolution in sight.

The one bedroom was chopped in two. See 6D at http://img.streeteasy.com/nyc/image/45/2616145.jpg for original layout.

...and it's a very large maintenance, considering the size of the apartment and the lack of amenities (probably because of that land lease.)
I would say it's about twice as expensive as it should be considering all the information.

Here's a recent discussion about the situation there: http://www.streeteasy.com/nyc/talk/discussion/2876-sale-at-101-west-23rd-streetwhat-is-the-deal-here

That co-op is in for prolonged agony. The payments to the landowner probably reset periodically, based on the unimproved value of the land. So there's the co-op, with only 80 small apartments in a low-rise building, paying for a lot of frontage at a major intersection. Makes no sense.