* Attempted* Sale at 26 West 76th Street

same developer hasnt made alot of progress on two units at 41 west 74th - how over priced are these? Big monthlies too...

Oops, I think they were playing the game of paying 6m+ for the unrenovated, plunking in 1m+, and hoping for an outsize return. Maybe, they just need more Weinsteins to buy up the block. Seriously, it's not a bad game to play but don't get burned...

We'll see how bad the game is 12 months from now.

Adam Gordon, the self-storage guy, is behind this. He did sell 92 Jane St for 13.4m to the Chipotle dude, so he does make hefty profits. He bought W76th for 5.8m which strikes me as a pretty good price, mortgaged to the hilt, but should still make a profit from this when all is said and done.

He might have bought for $5.8, but what did he put into it? Any idea? Over seven figures for sure. Good luck.

He had to buy out some tenants. Maybe all in, 10m? He'll break even at worst. Case of too-ambitious asking price. Reno is a bit Home-Depot-ish vs. his Jane St. reno but maybe UWSers go for that.

BTW, 76th is entirely financed by "Bank of Smithtown" - do they know what they're doing in the Manhattan RE market? Hmm.

You think he'll get $10 mil for this place. I'd love to meet the people who buy it. This place is a joke. This is the Bluth model home, right? LOTS of renos on that block (at least last summer).

10023, I know you love your hood, but this is going to be a tough sell.

the location IS fantastic. this space might just be TOO large, imo. we'll see. i think it's going to sit for a long, long, long time.

uwsmom: yes, there is such a thing as too large. IMO, over 4500sqft, it gets a bit unmanageable and you would "need" live-in help constantly picking up after your family. I would hate that, so my personal limit is 4500 sqft.

I am not speaking as to whether 10m is a good price, just that I am sure that's where the market for such a beast, if well-renovated (I haven't seen the thing in the flesh and it is home-depot-y) is. Of course, as time goes on, he is more unlikely to get even 10m. Now, if he'd priced it at 10m or 11m to start with, I think it would have been sold already. It's not because it's my particular neighborhood. It's the block. 70th (where Weinstein bought) and 74th, 75th, 76th, the closer you are to the park (so 40s, 50s not as good) are the best bstone blocks on the UWS. There aren't many because there are too many low-rise bldgs on park-side streets.

I dunno why it's so much uglier (from the pics) than Jane Street.

i think they could be in as much if not more trouble at 41 w 74th - 7 million +/- for 3000+ sf in half a townhouse?! not alot of comps, but market is definitely closer to 1000/foot than 2000+, even for nicely renovated with an elevator.
i thought the develper was out & howard lorber took over all these projects? still, will be interesting to see what they sell for...

http://streeteasy.com/nyc/sale/469730-house-26-west-76th-street-upper-west-side-new-york

It's in contract. We were all wrong.

Market is still over 8 figs for a completely renovated house (6000+ sqft) on W76th.

We were wrong. It's in contract now.

ok - so on to 41 west 74th - any guesses what happens here and when?