NYTiimes- shill for brokers?
Started by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008
Discussion about
Have been noticing that the feature article (front page) of the NYTimes Sunday real estate section often features owners/properties bought so long ago that there's little relevance to today's re world. Case in point - today's article about lovely couple (in their 70's) who purchased condo almost 15 years ago, at what would appear to be 101 W. 79th - the Park Belvedere, a 1980's condo whose prime feature is location - the apts. weren't great, even then. So, is couple planning to retire to Florida, put the apt. on the market, and some scheming (or very smart) broker got it written up in the Times? Or am i just overly suspicious?
they needed a space filler - nice article, but right, so what.... re your ? - you know they are. ads=$.
Who do you think buys ad space in their real estate section???
Just overly suspicious. Today's RE section also includes stories about newer-condo construction defects and the mess at the Brompton.
Re: the article about the Gisslers, people like to read about how other people live, what they did to their apartments, and so on. No sense limiting that to those who bought recently. Stories usually come from somebody who knows somebody who knows somebody at the paper, as is usual. The simple explanation makes more sense than the cabal or conspiracy.
BTW, if you want to see shilling, try getting trapped at an airport, say, and having to read the RE sections of the News or Post or some provincial paper.
Interesting double-bubble history at the Park Belvedere:
1985 #6D $....337,000
1987 #6D $....473,000
1996 #6D $....480,000 (the Gisslers)
2006 #8D $1,650,000
2006 #5D $1,725,000
Ah, nice work. BTW, I tried to buy 6D a couple of years ago (unsolicited letter under door) because the adjacent S-facing 2 bedroom was on the market. Would have made a very pretty 4br+lr+dr combo.
But to put the seemingly-high prices in perspective, you could have bought a C6 in '96 for what the Gisslers paid for their 2br.
why is there a question mark at the end of this thread title.
Speaking of double-bubble history, it seems that some at the Park Belvedere aren't aware that the bubble has burst:
16A (http://www.streeteasy.com/nyc/sale/452066-condo-101-west-79th-street-upper-west-side-new-york) is asking almost $5K a square foot, 80% more than its 2004 sale price:
09/28/2004 Previous Sale recorded for $2,325,000.
09/06/2009 Listed in StreetEasy by Halstead Property at $4,250,000.
The transfer tax on this unit in 1985 was $1826, which makes the sales price around $456k, correct?
20C (http://www.streeteasy.com/nyc/sale/465990-condo-101-west-79th-street-upper-west-side-new-york) is asking $3,295,000. Assuming a 0.4% transfer tax, this unit sold for $877,500 in 1997 and $644k in 1985. It has the oddest master bath layout I've seen.
so...you either climb over the toilet or the sink to get into the tub?
cc: don't be silly. when you can afford over $2100 psf (if we are to believe the broker wouldn't mislead us on the sf), you can certainly afford to install a hydraulic lift to carry your big ol ass from one end of the bathroom, gently glide over the toilet and lower you into the gentle bubbles of the bath ( filled by remote control system). I believe Miele and Viking are going to start designing hydraulic ass lifts so if you get one of those, it would be great for re-sale.
i like it: HAL. perhaps if its on wheels, it can used for other essential activities---getting into bed, getting seated on a high stool.
......reaching the book on the top shelf of the library, helping you reach the ledge of the terrace wall when the value of your apt drops 80%......infinite uses.
Apt 23. Thanks!! I needed to laugh out loud today.
A 900 sf closet for $4 mm. Ha ha ha. I think they would be lucky to get the 2004 price.
NYTimes RE section is NOT a news section. Look at how they break it out... it falls with autos and classifieds.
Its an *advertising* section.
The bizarre thing is that it's not 900 sf, it's at least 1,300sf. It's still insanely expensive, but it's an odd mistake.
Right, it's 1330. The A on lower floors is 857. Maybe that's where the mixup arose.