Sale at 400 West End Avenue #9E

1.6 ask was "value pricing" on a 5-room. Hmm.

and are brokers seeing this kind of activity on larger apartments?

Also mentioned was http://www.streeteasy.com/nyc/sale/445593-coop-850-park-avenue-upper-east-side-new-york, listed at $4.2M, in contract for a bit more.

400 is a great building, a great location and all of the units that have been on sale there for the past year have sold well at reasonable prices. It's not all doom and gloom as many would suggest on these boards.

True, except for 13CD that was pulled. Just looking at the four in contract and the last several that sold, days-on-market tended towards low or normal. Not much of the over-reaching and long-drawn-out price-chopping on stale stuff you so often see. What's interesting is that they were all with different brokers.

I wouldn't say that 400WEA is an A+, A+ for location & building. 1.8m for a 5 room with views is steep in this market. Not that long ago, they had trouble selling a 3-br duplex with outdoor space (18th floor-ish), open views over the church for 1.8m.

A to A- for location...if you can believe the listing, condition seems to be A. smallish 2nd bedroom; can't quite figure out what the elimination of the maid's room re: classic 6 means in terms of value. i would agree that $1.8 million seems steep.

CC: Pretty sure this never had a maid's room.

i agree....shouldn't have said elimination. wondering about difference in value between a 5 and 6. generally maid's room is tops 150 sq ft and often the small bath is converted to laundry so how much less is a 5 than a 6?

Yep, classic 5. The 6 room is much larger. BTW, the higher floor terraced duplex I looked at faced the same direction and closed in early 2006. I was sorely tempted to make a bid on that at the 1.8 level. I don't know if this is a value pricing example as much as the Park Ave example. Could be that the sellers got lucky.

Everything scales differently when you go from a 5 to 6 - usually the views are better, rooms are larger, more generous foyer - so it's hard to ask "What does one maid's room add?" B-line 6 (with great layout) in this building, but facing a completely diff. direction closed for over 2m.

Maybe it's my personal taste, but I don't get the love the market seems to have for this building. Art Deco isn't my thing, and in addition, the 1st Baptist Church is NOT landmarked. That was why I pulled back from paying the premium for a view apt, because the church is cash-strapped and would love to sell the site.

Looks as if the small dining room was made a bit smaller, with the kitchen enlarged. I'd call condition A+, as people really fall for built-in speakers, new wiring, skim-coating, stuff like that. There's no telling how much someone'll pay to not have to do a real full renovation themselves.

Hmm, with a cursory search on ACRIS, most classic 5s in this building have closed for well over 1.5m (but none over 2m) for the last 3-4 years. Again, don't get the love as views are not protected over the church, but to each his/her own.

The terraced duplex I looked at was last priced under 2m and went for just over 2m.