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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?
Response by romary
almost 17 years ago
Posts: 443
Member since: Aug 2008

they needed a space filler - nice article, but right, so what.... re your ? - you know they are. ads=$.

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Response by bronxboy
almost 17 years ago
Posts: 446
Member since: Feb 2009

Who do you think buys ad space in their real estate section???

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

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.

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

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.

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

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

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Response by nyc10023
almost 17 years ago
Posts: 7614
Member since: Nov 2008

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.

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Response by nyc10023
almost 17 years ago
Posts: 7614
Member since: Nov 2008

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.

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Response by jasonkyle
almost 17 years ago
Posts: 891
Member since: Sep 2008

why is there a question mark at the end of this thread title.

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Response by OnTheMove
almost 17 years ago
Posts: 227
Member since: Oct 2007

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.

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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009

so...you either climb over the toilet or the sink to get into the tub?

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Response by apt23
almost 17 years ago
Posts: 2041
Member since: Jul 2009

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.

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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009

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.

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Response by apt23
almost 17 years ago
Posts: 2041
Member since: Jul 2009

......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.

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Response by JEM
almost 17 years ago
Posts: 50
Member since: Jun 2007

Apt 23. Thanks!! I needed to laugh out loud today.

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Response by budda
almost 17 years ago
Posts: 69
Member since: Jan 2009

A 900 sf closet for $4 mm. Ha ha ha. I think they would be lucky to get the 2004 price.

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Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008

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.

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Response by maly
almost 17 years ago
Posts: 1377
Member since: Jan 2009

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.

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

Right, it's 1330. The A on lower floors is 857. Maybe that's where the mixup arose.

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