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300 East 54th 11CDE - How would you comp this apartment?

Started by newbuyer99
almost 17 years ago
Posts: 1231
Member since: Jul 2008
Discussion about
http://www.streeteasy.com/nyc/sale/167360-coop-300-east-54th-street-sutton-place-new-york It's a combination, and I didn't see any other floors in the building that did the same combination. I tried to find the pieces that make it up when I went back, but only found one. Any ideas? Thanks in advance.
Response by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008

The "den" can't really be used as a bedroom, because you have to go through it to get to the actual bedroom, so it definitely loses value. Not a 4 bedroom

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Response by 30yrs_RE_20_in_REO
almost 17 years ago
Posts: 9913
Member since: Mar 2009

very hard to comp white elephants. But in general I recommend against buying units which are very out of line with the vast majority of units in the building.

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Response by newbuyer99
almost 17 years ago
Posts: 1231
Member since: Jul 2008

Interesting comments:

ph41 - why can't you use most of the den as a 4th bedroom by building a wall 3-4 feet in, and leaving a walkway on the outside to get to the other bedroom?

30yrs - I've seen your other posts and recognize you are pretty knowledgeable about Manhattan RE. Would you mind elaborating? What makes this a white elephant?

Thanks again.

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