Barbizon 63

All but the PH are resales. All are asking more than they paid the sponsor in 2007.

But look at 5G. Paid $1,200,000 in 2007, and resold in 2009 for $890,000.

okay. who is more delusional? 7G who is asking 35% over a comp of the same apt? Or 6E who was asking 100% over what they paid when they bought near the peak of the market?

Both pretty delusional. 6E is more entertaining to make fun of.

First off, the square footage is a fantasy. It would be lucky to be 1200SF

Second, it's basically a decent-sized two-bedroom. No dining room, no outdoor space, really nothing distinguishing it.

Now the fun part: Note the maintenance and RE taxes. $3600!!! That's $3psf!

And even more fun: What would it cost to rent something similar? $3500? $4000? $4500 if you want to be really generous? (forgive me for ignoring the equally delusional rental asks in the building).

Obviously not there yet, but I wonder if this could end up as the poster child for the apartment that trades for $1 because the seller doesn't want to / can't pay the common charges anymore.

newbuy: yes. it should be the poster child for what is wrong with this market right now. 6E was bought in late 06 just months away from peak. 3 months later -- THREE MONTHS!!!!--later, it is put on the market with a 100% premium. That was indicative of the wild market back then. Now they have dropped the price --off the 100% premium---by 15%. If this seller was really aware of the market and were serious about selling they would drop the price to 10% over their purchase price and hope some moron will bite and they can get out whole-- if they are extremely lucky. How can people not think the market has not come down in a significant way when sellers are so out of touch. The market cannot be sustained by sellers hoping for some uninformed foreigner to bail out their mistakes.