This poor little property can't find a new owner no matter how hard all the different brokers try, no matter how many times this place is resurrected. There is a reason and a price that would bring a new family to this apartment. Let's help this seller. What should the ask be to render this place SOLD. http://www.streeteasy.com/nyc/sale/465295-coop-220-east-67th-street-lenox-hill-new-york... [more]
This poor little property can't find a new owner no matter how hard all the different brokers try, no matter how many times this place is resurrected.
There is a reason and a price that would bring a new family to this apartment. Let's help this seller.
What should the ask be to render this place SOLD.
http://www.streeteasy.com/nyc/sale/465295-coop-220-east-67th-street-lenox-hill-new-york
StreetEasy History
07/08/2008 Previously Listed in StreetEasy by Corcoran at $1,300,000.
02/07/2009 Corcoran Listing is no longer available. Last priced at $999,999.
02/11/2009 Previously Listed in StreetEasy by Prudential Elliman at $1,100,000.
07/10/2009 Prudential Elliman Listing is no longer available. Last priced at $990,000.
09/23/2009 Listed in StreetEasy by Corcoran at $950,000.
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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009
needs a kitchen and no doubt bathrooms (no pics) as well. 125 K
maintenance is too high by $1,000 per month 200 K
$795,000 tops. they'll never come that low. it'll sit for a long time.
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Response by evnyc
almost 17 years ago
Posts: 1844
Member since: Aug 2008
The maintenance is crazy. Even with the lovely terrace, to bring it down to a reasonable rent/buy ratio, it would have to come down to $600k. Even then your monthly carrying costs are well over $5k.
Shame, because I really like the apartment.
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Response by patient09
almost 17 years ago
Posts: 1571
Member since: Nov 2008
then bid 600k
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Response by evnyc
almost 17 years ago
Posts: 1844
Member since: Aug 2008
patient, thanks for the advice, but I'm not in the position to carry $5k plus in monthlies. Like I said, crazy maintenance.
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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009
the terrace made me stretch and the square footage appears to almost be real. let's split the difference at $695K
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Response by evnyc
almost 17 years ago
Posts: 1844
Member since: Aug 2008
cc, sounds good to me. I love terraces.
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Response by maly
almost 17 years ago
Posts: 1377
Member since: Jan 2009
What would be a fair rent on such an apartment? I don't know the UES very well, but it seems like a lovely place, not perfect, a bit bland and boxy, and North-facing terrace, but not so bad. Is the fair rent for a large 2br with terrace about $5-6,000?
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Response by evnyc
almost 17 years ago
Posts: 1844
Member since: Aug 2008
Maly, last rental market report had 2/2s at an average of $4,300. So my completely uninformed guess is that a nice rental with a big terrace might fetch in the high-$4k to mid-$5k range. I think this is being generous.
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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009
tough question i think because of the relative scarcity of rentals with terraces. to my mind, its a matter of what would this be worth without the terrace--$4,500? and how much would someone pay extra for it.
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Response by apt23
almost 17 years ago
Posts: 2041
Member since: Jul 2009
With maintenance that high, you have to believe there is something wrong with the building. When something is wrong with the building, there is no end to the headaches. So there is no price in world could make me buy this. Anyone else considering it should include the yearly costs of value pack prices of Excedrin.
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Response by columbiacounty
almost 17 years ago
Posts: 12708
Member since: Jan 2009
i think this would call for prescription meds; otc just won't cut it.
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Response by falcogold1
almost 17 years ago
Posts: 4159
Member since: Sep 2008
I've been to this place and it's not bad. I question the sqfootage as a matter of experience rather than the ruler. I don't like the absence of a dining or earing area. Basicly you'll be eating in your living room. It's got an illegal W/D so that's an iffy point as well. The kitchen and baths will need freshening no matter who the buyer is. There was also an assessment that drove the cc over 3000/mo. Don't know if or when that ended.
The place is cursed. On one hand if priced right...let's say ask is 850K and they are willing to let it go for 800K their prints will come.
Poor Cinderella......
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Response by newbuyer99
almost 17 years ago
Posts: 1231
Member since: Jul 2008
On the rental question, rentals with terraces are not frequent, but not that rare either. We saw a bunch when looking last fall/winter. I would think a $5K ask for a place like this would be reasonable, if it was in good condition.
On the other hand, you may note that 3G in the sale building is for rent for $4500 and for sale asking MORE than PHB. So maybe my estimate is high.
needs a kitchen and no doubt bathrooms (no pics) as well. 125 K
maintenance is too high by $1,000 per month 200 K
$795,000 tops. they'll never come that low. it'll sit for a long time.
The maintenance is crazy. Even with the lovely terrace, to bring it down to a reasonable rent/buy ratio, it would have to come down to $600k. Even then your monthly carrying costs are well over $5k.
Shame, because I really like the apartment.
then bid 600k
patient, thanks for the advice, but I'm not in the position to carry $5k plus in monthlies. Like I said, crazy maintenance.
the terrace made me stretch and the square footage appears to almost be real. let's split the difference at $695K
cc, sounds good to me. I love terraces.
What would be a fair rent on such an apartment? I don't know the UES very well, but it seems like a lovely place, not perfect, a bit bland and boxy, and North-facing terrace, but not so bad. Is the fair rent for a large 2br with terrace about $5-6,000?
Maly, last rental market report had 2/2s at an average of $4,300. So my completely uninformed guess is that a nice rental with a big terrace might fetch in the high-$4k to mid-$5k range. I think this is being generous.
tough question i think because of the relative scarcity of rentals with terraces. to my mind, its a matter of what would this be worth without the terrace--$4,500? and how much would someone pay extra for it.
With maintenance that high, you have to believe there is something wrong with the building. When something is wrong with the building, there is no end to the headaches. So there is no price in world could make me buy this. Anyone else considering it should include the yearly costs of value pack prices of Excedrin.
i think this would call for prescription meds; otc just won't cut it.
I've been to this place and it's not bad. I question the sqfootage as a matter of experience rather than the ruler. I don't like the absence of a dining or earing area. Basicly you'll be eating in your living room. It's got an illegal W/D so that's an iffy point as well. The kitchen and baths will need freshening no matter who the buyer is. There was also an assessment that drove the cc over 3000/mo. Don't know if or when that ended.
The place is cursed. On one hand if priced right...let's say ask is 850K and they are willing to let it go for 800K their prints will come.
Poor Cinderella......
On the rental question, rentals with terraces are not frequent, but not that rare either. We saw a bunch when looking last fall/winter. I would think a $5K ask for a place like this would be reasonable, if it was in good condition.
On the other hand, you may note that 3G in the sale building is for rent for $4500 and for sale asking MORE than PHB. So maybe my estimate is high.