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How much would you bid given the comps...

Started by potential_bid
about 16 years ago
Posts: 6
Member since: Oct 2007
Discussion about
Unit and Building information: 1) new construction (sponsor unit) 2) a unit on the same floor with the same floorplan and square footage sold in June for a little less than 580 square foot (about 800k total) 3) a slightly larger unit with a very similar floorplan and on the same floor sold in July for about 590 a square foot (for about 860k total) Thanks for your input.
Response by Fluter
about 16 years ago
Posts: 372
Member since: Apr 2009

Hi, not enough information for me, actually.

But OK, I'll play: no more than $580 a square foot as a start. Unless I'm in love with the place I would definitely bid less.

{Manhattan real estate agent.}

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Response by maly
about 16 years ago
Posts: 1377
Member since: Jan 2009

Are there different views, or a significantly different layout?
How many units are left? Is the one you want to bid on objectively better or worse than the 2 that sold?
Depending on the answers, I'd offer 500-550 psf
and see what concessions I can get (closing costs, parking, storage space, etc).

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Response by potential_bid
about 16 years ago
Posts: 6
Member since: Oct 2007
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Response by potential_bid
about 16 years ago
Posts: 6
Member since: Oct 2007

basically the same "views" as the comp units are all on the same floor (first floor). the building is about 70% sold.

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