O/H Upper West Side 10/4/09

Oh, and 161W75 had good traffic (surprising at this price) but I'm not sure if it would attract bids at ask. The layout was fairly good, though kitchen can't be made an "eat-in" without giving up the maid's. The LR is large & immediately adjacent to the DR. Yes, I would create an opening between LR to get 40' of entertaining space.

nyc - we saw 67 RSD as well. Thought the reno job wasn't half bad, actually. Not great, but not as terrible as I've seen. Nice light and space but concerned about the fact that it's on the top floor - leaks from the roof could be a problem. I love river views in general (who wouldn't?) but am not wild about apartments looking out over the 79th st traffic circle. Feels very "zoomy", especially in winter when there's no foliage to hide the speeding cars. Maintenance is quite high for a non-doorman building.
Still and all, a very nice looking apartment.

We're heading up to 300 RSD 13A later - I've seen the line on the ninth floor (estate condition) but am interested in how the same layout looks renovated. Views are tremendous, but, as I recall, there isn't sufficient closet space in that line. At $2.4 it's way over-priced in this market, IMO. But definitely worth a look...

What's interesting is the 300RSD 14EF combo. On the market as a 4-bed rental at 10k. I saw this combo on the market circa '05 and was shocked that it went to contract so quickly in the high 2s. Substantial work was put into the apt, and I wonder how much $ they're hemorrhaging. Why buy a classic 6 for 2.4 when you can rent a huge 4-br (albeit w/o river view, but higher fl) for less. 300RSD also has unmanageable steps and the doormen can't see you to help you.

Ah, sorry on the market at 12k - still, that's got to be close to costs to buy 13A.

There's no way they'll get $2.4 for 13A. That's extremely aggressive pricing in this market, killer views or no. The apartment itself is small for a 6 - having the river view makes it seem more spacious. The place does need work; the bathrooms seem tired and the original reno seems dated. Kitchen is quite nice, though - they made a great decision to blow out the maid's room/bathroom to create a nice-sized eat-in while converting the orig kitchen space into a small study.

Agreed re: the steps to the lobby - one doesn't think about that when visiting but that would be a real bear with a cart of groceries or a stroller.

So nice to have the open house reviews again. Thanks!

I'm trying to keep up the W81 tradition. I don't think he can comment any more now that he's an agent of sorts. I almost made it up to 161W86, but got lazy (and also I've seen numerous apts there, so I know the building).

bump

thank you

nyc10023, thanks for your feedback on those two apartments. I also saw 67 Riverside Drive and was impressed with the views and the condition of the apartment. However, I saw 2 big issues. There are very few closets ( 3 in total with no entry closet for coats ) and only 1 1/2 baths in the main part of the apartment. I asked the broker if you could add a bath to the second bathroom and she told me that if the board allowed it, it would have to replace 1 of the only 3 closets. I would think these would be big issues for many buyers.

i saw 161 w 86th two weeks ago. ho hum sort of. kitchen needs everything, but there is space to expand. my issue with this line is how big the entrance foyer is. In the larger line in the building (for those of you who know me this is my "the one that got away") there's enough space around it - the living room, the library, the enormous dining room to make it feel gracious and well proportioned. in this one it feels boxy to me, and the flow of the rooms never recovers (in my opinion). bathrooms original, but ok. floors the same - not a bargain at the offering price, and from the agent I did not get the sense that they were hoping got a down 30% offer that they would accept immediately.

hijacked my own post to keep things in order -
15 rsd - penthouse duplex. went with my dad, not for me. reminded me of nothing more than a show poodle. all dressed up in fancy clothing, but in the end very little underneath. the view - to DIE for - perhaps the best of any I have seen. but the interior spaces all felt impossibly cramped and the stairway was too vertical for my taste. Interesting building, but not overall only a great apartment for your friend to have so they can invite you over. there were also two nice cats.

apologies - that penthouse I mentioned above is at 310 Riverside, cans 315 (or 15) -
http://www.halstead.com/detail.aspx?id=1761290

I saw the Goodman apt (that's the one you mean?) - open issue with the church/chapel & what's going up next to it. Don't see how they're going to get more than mid-2s given that, and condition issues. It's 10 rooms, sure but it's my least favorite "classic" layout - long thin apt, with 2 bedroom wings.

Speaking about RSD apts & views, 22RSD, 14th flr was possibly the best apt with views on the lower part. I felt it was fairly priced at 3.3 for a 4br, and the market did not disagree with me. A bit cobbled together, and the casement windows did not do it for me, but nevertheless it sold quickly and I'm not surprised.

EAO: the bathroom issue was not huge for me as I would not buy 9A without 9D.

nyc10023: I enjoy your reviews, although the apartments are way outside my stratosphere. Thanks for picking up the "UWS OH beat reporter" mantle!

LP: Fascinating apartment at 310 RSD - is the storeroom really only accessible via a terrace that can only be reached by a door in the middle of the master bathroom? The apartments in this building seem to be the victims of a bad hatchet job. Do you know if there are adjacent apartments that would combine well with "25022601"?

10023: Great writeups. Thanks so much for covering 67 RSD. I had hoped to see that one but got held up on the East Side. I second all the remarks above re. 300 and 310 RSD. In defense of 310, the Masters was never a building for families; it was more of a residential hotel for artists. So the terraces are great for inspiring a painter or a jazz composer; but the original interiors (of which this apartment combines two or three) were mostly suitable for abusing various substances and sleeping them off - activities that have figured prominently in the building's history.

Visitors to 300 RSD may have noticed that the owners' clothes were all hung in the guest bedroom, because the corner master is virtually devoid of closets.

10023: Apart from the views, I didn't like 22RSD at all, and thought it would drop much farther. Game and set to you on that one.

liquid,
Tell me about the penthouse.
Interesting layout, great views, two levels (love that as it reduces the 'steel cage matches' between me and the loved ones), outdoor space with KILLER views, etc. The pricing does not look outragious esp. given the CC and to be fair I have a soft spot in my heart for RSD. I could not exactly follow...is this a winner property at a great price or did you and the dad discover a fatel flaw?

I'm not a fan of cobbled-together apts, ala 22RSD. But if you have to have views, want prewar condo on RSD - not a lot of choice. The renovation was neutral enough to appeal to many, layout was better than the previous layouts used for the full floor (1 more br, but less spacious master br and I think one less full bath).

Weird that 22RSD was priced at market, when 235W71 (also a Dominion project) is so ridiculously overpriced.

NYT has a great article on the Masters apts.

W81: are you precluded from commenting on O/Hs now?

10023: No, but there are a few practical constraints:
1) Owing first allegiance - i.e. the good stuff - to my clients;
2) Time;
3) [a distant third] Trying not to alienate listing agents.

falco - interesting on paper/pictures, in person much less so. the downstairs bedroom is really so small as to be practically useless and the kitchen isn't big enough to seat more than 2 (really) so if u were ever trying to eat there with more than one person at a time you would be up & down those rather difficult steps all the time. That's the first thing I thought if, but there are other things I found objectionable as well. I suspect that elevator service to the penthouse is SLOOOOOOOWWWWWW as there a lot of units and only two cars.. this is a pet peeve of mine as our cu rrent situation in this respect is difficult but I would say would be even worse in this building. As I said initially, interesting to see for anopen house if you have the time and are nearby, and if you had a friend you could convince to buy it then you would have a friend with an apartment it as cool to visit, but def not a winner in my book. also closets very small as well.

W81: did you just become a broker?

bfgross: I got a license back in the spring. No intention of quitting the day job, but I respected what Keith B. was doing with commission rebates and wanted to be part of it; seemed like a decent starting point for a disruptive business model. I do miss the freedom of unrestrained snarkiness.

West81st, I do miss your open house reports. They were my initial addiction to Streeteasy.

""I asked the broker if you could add a bath to the second bathroom and she told me that if the board allowed it, it would have to replace 1 of the only 3 closets. I would think these would be big issues for many buyers.""

The broker mentioned this to us as well. I wonder, though, at the wet-over-dry issues that would cause. Most boards would not allow closet space to be turned into a bath.

As for 310 RSD, West81st is correct - it was built as an artists' enclave, and doesn't have original classic 6s or 8s that I'm aware of. Primarily studios and one-beds, some of which have been cobbled together to make larger units. We saw one of the terrace apts a few months ago - was tiny inside with no kitchen to speak of (reminded us of being on a ship). The star of the show was the outdoor space. Otherwise, the apartment was basically useless unless one were a bachelor or emptynester.

The closet issue at 67 RSD 9A is a definite concern, though not as great as that of 300 RSD 13A. The latter simply has no space to eke out extra storage. The 'closet' in the MBR at 13A is nothing but narrow and shallow shelving because the shower body pokes out behind it. The room itself is too small to build in any substantial storage units. I was also irked by the shallow coat closet in the foyer, which is not deep enough to hang coats properly.

Oh, and another thought re: 67 RSD - I am frankly baffled at the high maintenance. If I recall correctly, the show-sheet says the building has no underlying mortgage. There is minimal staff (I think it's just a live-in super and a handyman) and no amenities. Yet the maintenance for 9A is comparable to that of a full-service building.

Danka Shane,
The value of SE...before your eyes. I would have never noticed 310 RSD (outside my general search area) but,I continue to claim to my wife that I would move beyond my constrained geographic criteria for something special. Disclaimer: I have walked to work for the better part of the last 20 years and have gotten spoiled by the effortless commute. When traveling around the city I am a serial cabber and recognize the crazy pile of money saved walking to work. In my house we keep track of expenses and I'm always amazed at the $$$ we spend on transportation even though the wife is a bus/subway girl. Initially, I thought I might go see this place. I'm the kind of guy who thought Gomes Adams had a cool crib. So thanks, I'm not going and you saved me a few hours!
Next decision, should I use the time to go to the gym or over eat?
Always have trouble with this one.

Bramstar: people are a little out of touch with maintenance these days. $1.50/sqft would be well within normal for a full-service building with no mortgage. The only way you are going to get ultra-low maintenance would be if the building had a low tax assessment and//or had commercial income (like a lot of downtown lofts).

This building has annual taxes of approx. 260k. Divide that by 9 floors, that's approx. 29k annually per floor (more for higher floors, as I assume that they have a higher share count). There are 4 apts/flr (assuming a 2 6-room split and 2 4-room split). You can see that taxes make up approx. half the maintenance bill (and is tax-deductible). What about the water bill & oil bill? Not cheap. Also, there is a mortgage on the building, held by NCB - according to ACRIS, it's 250k.

Compare 67 RSD to 300 RSD (14 floors, with 113 apts according to cityrealty). That building has a tax bill of 550k, but has many more apts.

NYC, you're right, which is why I generally prefer larger buildings.