Sale at 7 East 78th Street

Someone forgot to check the news for a couple years.

I presume you mean the seller... I'm a born and bred New Yorker who lives in the neighborhood of this one living room/no bedroom post-bubble oddity and knows the prices of the bubble well (bubble both ways - location and recent vicissitudes of the market). But I still can't figure the thinking behind this pricing, let alone the architectural mishmosh that's been made of this once gorgeous building. Have you seen the two bedroom/not much else that makes up the rest of the floor that clearly should have been left in its original state and sold at fair, if elevated, value?! Bummer, as the kids say.

Can't blame them for trying, though the pricing for the 3rd floor is a stretch, considering that the even-grander 2nd floor was assembled for just shy of $2M in 2005 and 2007.

If you think of the prices in terms of cubic feet, and the detail you're getting, this looks like a bargain compared to the new-construction crap that continues to sell.

Each floor was split into front and back apartments in 1946 or earlier. The main rooms seem to be pretty well preserved.

They may get it - prime buildings in prime locations are certainly commanding substantial premiums... Check out this listing - I must say, I was a bit taken aback when I saw the closing price. This is a much smaller north-facing studio (let's not forget about the hotel being erected on 13th street). Great building, but seriously?

http://streeteasy.com/nyc/sale/467513-condo-59-west-12th-street-greenwich-village-new-york

09/30/2009
Listed by Prudential Elliman at $800,000.
11/20/2009
Listing entered contract.
12/21/2009
Listing sold.
12/21/2009
Sale recorded for $900,000.

9A, a full one-bedroom sold for merely $75k more a few months before.

http://streeteasy.com/nyc/sale/383813-condo-59-west-12th-street-greenwich-village-new-york

At least is has a kitchen.