Sum of the parts!?
Started by SquatterTX
about 16 years ago
Posts: 2
Member since: Aug 2008
Discussion about
Is this strange? Apartment 2 Fifth apartment 4PO is listed at 2.9MM, apartment 4o is listed at 1MM and 4p is listed at 1.9MM. The only difference between "O" and "P" is a bedroom and a full bath. This means they are ascribing a value to the extra bed and bath of 900K! Seems a bit much... 4PO: http://www.streeteasy.com/nyc/sale/365834-coop-2-fifth-avenue-greenwich-village-new-york 4P: ... [more]
Is this strange? Apartment 2 Fifth apartment 4PO is listed at 2.9MM, apartment 4o is listed at 1MM and 4p is listed at 1.9MM. The only difference between "O" and "P" is a bedroom and a full bath. This means they are ascribing a value to the extra bed and bath of 900K! Seems a bit much... 4PO: http://www.streeteasy.com/nyc/sale/365834-coop-2-fifth-avenue-greenwich-village-new-york 4P: http://www.streeteasy.com/nyc/sale/479194-coop-2-fifth-avenue-greenwich-village-new-york 4o: http://www.streeteasy.com/nyc/sale/479195-coop-2-fifth-avenue-greenwich-village-new-york [less]
Same thing in my building: the two-bedrooms have gone for about double the one-bedrooms.
What's odd is that there's no adjacency premium at all. Used to be that two adjoining owners could get much more together than they could separately, if a good (or even not so good) combo was possible.