Sale at 24 Fifth Avenue #PH1701

You just DON'T understand how real estate works, do you?

Heading back down:

StreetEasy History

09/29/2009 Listed in StreetEasy by Corcoran at $5,750,000.
09/30/2009 Listing is no longer available.
10/24/2009 Re-listed by Corcoran.
10/24/2009 Price increased by 39% to $8,000,000.
11/18/2009 Price decreased by 13% to $6,995,000.

Come Down down down to the gap! Anyone remember the first gap on 34 th street. Jeans!!!!!! Then jordache. Those were the days.

67th Street I believe the first Gap in NYC was on Greenwich Avenue just north of 10th street in a basement storefront. A little later they opened a store on the corner of Washington Place and 6th Ave where my best friend worked through college but I never got a discount (Think I will remind her at Thanksgiving and make her feel guilty...right). At time the slogan was "Fall Into THe Gap" and they sold Levi's exclusively. I think 34th street was later.

You want to see pricing DISASTERS? Check out the old Police Building at 240 Centre St. No sellers there seem the have any idea what the units are worth.

I have never understood the appeal of this building aside from the obvious architectural merits of those few trophy residences. The location is bloody awful - it's on the cusp of about 8 neighborhoods but derives none of the benefits of any of them.

Really, you would consider this location "bloody awful", you are a tough customer

lizyank, i worked at that gap on 6th ave in about 1988, just before it moved a little south to bleeker and i gave a discount to half my high school!
The place would get robbed by roving bands of hoods at least weekly.

kiz, I think buster is referring to the Police Building I mentioned when saying it isn't in a neighborhood; I don't think he meant 24 Fifth which is pretty obviously in as AAA a location as exists in Manhattan. People argue over many things on this site--one of them is not whether lower Fifth Ave is a prime location. 24 Fifth benefits from its location more than anything else. As said in many other threads, as a building it leaves a lot to be desired.

Speaking of the Police Building, I love this broker babble:

"It represents the vision and genius of the world renowned and acclaimed architect, the late Charles Gwathmey. This is the only apartment he ever designed from the ground up"

"Ground up"? It's on the 5th floor of a landmarked building from 1905.

http://www.streeteasy.com/nyc/sale/445592-coop-240-centre-little-italy-new-york

Agree with kylewest.
As a possible consideration for a comp, the penthouse at 30 fifth which was about 1000 interior and 750 exterior sold for 1.8m.
Strictly on sq footage considerations, that would put this apartment at around 5.5m as raw evaluation.

Though I recognize that status of lower fifth, I wouldn't overpay to live there.Cabs are a bitch, deli/food stores aren't close,etc. But some people like that.

Kiz my girlfriend worked at the Gap more like (thank God this is an anonymous board) 1978 when the only gangs of hoods roaming around the neighborhood were our friends.
Lower Fifth Avenue and the blocks between 5th and 6th on 9-12th streets are truly gorgeous in a very classical way. I don't feel the same way about it as I do the rest of the 0verly gentrified Village/West Village because it was ALWAYS "where the rich people lived". (Which made it even more amazing that that the "rich kids" blew up one of their own townhouses but you would have to be old as Methusela--or me--to know what I'm talking about). And it is convenient to every subway line in Manhattan. My only reason for not wanting to live there, other then not being able to afford it in a million years is not wanting to live amidst a college campus. (Hell I lived in Murray Hill/Kips as that evolved into a post-college dorm and it was increasingly tired).

http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=18-west-11-street-manhattan&sll=37.0625,-95.677068&sspn=53.564699,118.740234&ie=UTF8&hq=&hnear=18+W+11th+St,+New+York,+10011&ll=40.734414,-73.995929&spn=0.000769,0.001812&t=h&z=20&iwloc=A&layer=c&cbll=40.734369,-73.995819&panoid=yEfem8qbZya9YzyjgB-0LQ&cbp=12,238.2,,0,-10.18

Liz: I read about the explosion. It was in the Times as recently as 5 years ago.

I wonder what sorry excuse for an architect came up with that indented angular front entrance for the replacement townhouse for the one that exploded?

modern: i actually think the reference to what happened being incorporated into the design of the rebuilt townhouse is kind of cool. It looks like the facade was "blown out" in a way. At least the idea was there even if great aesthetic consideration wasn't. More than can be said of most crap built in the years since then in the area.

Truthskr10: As for lower Fifth, there actually are tons of cabs if you want one, especially on 9th and 10th streets if not 5th Ave itself. I've lived at 30 Fifth and 20 Fifth and cabs were pretty much non-issues in my mind until you just mentioned it. And what do you mean no food? Citarella is one block away on 6th and 9th--1 block is "far"? University has a D'Agostino and another full supermarket (can't recall which one) on 9th and 11th Streets. 8th Street has bodegas. Not sure what you meant about no food being easily available.

Lizyank, as for being on a "college campus" it isn't the problematic experience I expected--quite the contrary. NYU students, who are almost without exception perfectly nice neighbors, bring a youthfulness to the area that keeps it vibrant. Aside from some shouting in the streets on warm Saturday nights in spring, I love the mix of older dowagers, preppies, yuppies, students,etc in this central village stretch. I hate to think what Wash Sq Park would be without the students. And frankly, they don't really venture much above 8th St.

kylewest

My friend lived in 24 fifth for many years. Cabs were always a problem and no we are not black (pc police please don't flame me).It's just something I always noted about the immediate area. Not enough people getting dropped off, too many looking to be picked up. But I didn't live there so my opinion is as a passerby and I defer to your living there experiences.
Yes I know, one avenue block seems incredibly lazy. Specifically if I want a deli, it's at a time when I am feeling most lazy to get to one, and least patient to get there. And there is for the most part, nothing but residential on fifth between 11th or so and the park.
And as I said in my first post, I recognize the charm and appeal of lower fifth but it's just not for me. At least not for me to pay a premium. And again,I see it's appeal to other people and have no problem with it.

thruthskr, I'm surprised to hear about your friend's experience re: cabs. I lived at 24 5th for years and never, ever had a problem with transportation, either with finding cabs or taking the myriad nearby subway and bus options. Finding a cab on the corner of 9th and 5th was simply never a concern, especially with 9th's relatively robust cross-town traffic.

As for the location in general, there are plenty of nice restaurants and stores in easy walking distance, as well as decent food markets. It's a great area.

Footnote to comment above:

There are also plenty of cabs to be found one block over on 6th ave if you're heading uptown.

Ok guys. LOL! I'm not trashing lower fifth. yowzah.
Just said it's not for me.

bramstar
I wasn't relaying my friend's experiences, just mine as a visitor.

Actually, I'd like a critique of my comp.
I'm on this site because I am looking for an apartment a long time. I'm here to learn, apply, adjust, do whatever it takes to get a place that makes me happy.
I'm confident enough to know Ive got some things right, and humble enough to know there is plenty more to learn. Bear bull matches are so secondary to me.

So please, would love to hear peoples thoughts on the value of this apartment.
It's out of my league, but something here may help with the next place.

This allure of this place is the spectacular terrace, which is about the size of the interior space. I love it!
The downsides:
#1 -- The rest of the building appears (from what I see here on StreetEasy) to be much smaller apartments. One needs to think hard about how this impacts one's investment. Who are your coop neighbors? And I am one of the fans of this part of Manhattan.
#2 -- Unless the floor plan measurements are wrong (or I'm misreading, as it's hard to see this clearly on my screen), there doesn't appear to be anywhere near 2800 sqft interior - I'm not even sure there's 2000. That drives up the $/sqft dramatically.

I've got the upper floor at around 1450 sq ft(including that loge section to the right) and 1400 sq ft on the lower floor (including all the wasted hallways). That is, if it's to scale and the 14 ft length second bedroom length is correct.