49 E. 12th St. #2c

Well, #4C sold for $750K in December 08. Is #2C THAT much better? And is it THAT much better than #4H, which is currently on offer for $699K?

#2C looks way overpriced to me.

IMO, don't buy a 2nd fl apt

I'm also a prospective buyer, but I have no real estate background so bear that in mind. I took a fast look at the unit floorplan and tried to find a comparable unit in the building. It looks like Apartment 4C (which I'm assuming is the same layout) sold for $750,000 almost a year ago. I'm sure that all the real estate brokers on this site will correct me if I'm wrong, but I believe that sale prices were a bit higher last fall. I'm not partial to lofts for sleeping, but many people love the look of a loft apartment. You have several nice closets and a separate dining area which look nice on the flooplan. In addition, as you've mentioned, the neighborhood is great. My advice would be to look at as many similar apartments in the same neighborhood as you can to get a feel as to what else is available and at what price. Best of luck to you.

Thanks everyone for the feedback. I agree its overpriced, but the million dollar question is by how much? I have seen 4H and it is not comparable. I had noticed that a similar unit sold for less last year, but wasn't sure how much of a discount should be factored in for this year for this neighborhood. I know that overall prices are down about 20-25% from last year. Any thoughts on what the right price should be?

I think that you're correct that overall prices are down from 2008, but maybe not as high as 25%. Is the apartment in move-in condition or does it need work?

Another lesson that I've recently learned is that despite the decreased sales prices over this past year, you have to be as "flexible within a range of prices" if you really want the apartment. Much of selecting your ceiling on what you'll be willing to pay for an apartment is how much you want the apartment regardless of what price the seller wants. If you really want the apartment, you'll go much closer to what the seller wants (if you can afford to) than if you're not "in love" with the apartment.
Although you'll get much argument from SE posters, if you're very uncertain about what price to bid then you might want to consult with a buyer's broker who can then negotiate on your behalf. But ultimately the decision on pricing is yours after considering all the factors involved. Again good luck to you.

Another lesson that I've recently learned is that despite the decreased sales prices over this past year, you have to be as "flexible within a range of prices" if you really want the apartment. Much of selecting your ceiling on what you'll be willing to pay for an apartment is how much you want the apartment regardless of what price the seller wants. If you really want the apartment, you'll go much closer to what the seller wants (if you can afford to) than if you're not "in love" with the apartment.
Although you'll get much argument from SE posters, if you're very uncertain about what price to bid then you might want to consult with a buyer's broker who can then negotiate on your behalf. But ultimately the decision on pricing is yours after considering all the factors involved. Again good luck to you.

Another lesson that I've recently learned is that despite the decreased sales prices over this past year, you have to be as "flexible within a range of prices" if you really want the apartment. Much of selecting your ceiling on what you'll be willing to pay for an apartment is how much you want the apartment regardless of what price the seller wants. If you really want the apartment, you'll go much closer to what the seller wants (if you can afford to) than if you're not "in love" with the apartment.
Although you'll get much argument from SE posters, if you're very uncertain about what price to bid then you might want to consult with a buyer's broker who can then negotiate on your behalf. But ultimately the decision on pricing is yours after considering all the factors involved. Again good luck to you.