325 fifth avenue

Most overpriced building...it should be around 750 per foot...

I just looked at a truly "triple mint" one bedroom. Sparkled like a jewel, but $875K for 688 square feet is just insane.

Neighborhood has a looooong way to go. You should look up some old closings to see what these people paid PSF originally. Should be around $1000 or less.

I do like the *location* per se, but you're right ... Fifth (and Sixth and Seventh and Eighth and Ninth and Tenth and Eleventh) in the 30s is a bit of a wasteland.

I currently rent here and like it for that. Good building, super staff, great amenities. And I like the area very much. But I would NEVER buy a place here at the crazy asking prices they're trying to get.

matson- Do you think the owners in the building have a tough time getting rent to make up for their mortgage? Any complaints by the owners in the building?

Chatham 750 psf? really?

I honestly don't know - I don't really chat with anyone in the building. But I simply can't imagine how they can get the rent to make up the mortgage.....

I live here too. I like the staff but the building itself suffers from some serious construction quality issues. Those black tarps wrapping the balconies aren't there for decoration. The balconies have been condemned for the last year because a sheet of glass fell from one of the top floors. (Second time this happened - the last time it was in the rear of the building so not too many people knew.) Supposedly all the panels are going to be replaced "real soon now" and access will be restored. Interior construction also shows lots of shortcuts. In the bubble this place looked like a great find but anybody looking at this today is right to question the ppsf.

The neighborhood itself is actually not too bad. We don't have a grocery store, but earlier today I walked by a shop on 28th street where you can get an imitation tonka truck, a black velvet painting of the crucifixion, edible underwear, and a 4 foot glass bong all under one roof.

Seriously though, Madison Sq. Park is an easy walk. Bar Breton is nice for lunch. Wolfgang's and Ben & Jacks are there for steaks, and the ACE hotel is around the corner. Also, don't forget all the Korean Barbecue you can handle.

thanks for the info- I had put a bid into this building previously, but with reservation. I have lived on the upper east side for years, and am used to having everything at my fingertips...love the units in this building, but definitely with some concern.

and by the way, no tonka trucks or four foot bongs on the upper east. lol

> Fifth (and Sixth and Seventh and Eighth and Ninth and Tenth and Eleventh) in the 30s is a bit of a wasteland.

Agreed.

But, might be an opportunity. 30s now look like what the 20s were 10 years ago. It goes in segments. above 23rd isn't as established as below 23rd, but it looks like what it did 5 years ago.

And because the 30s have the rezoning and such, thats where the development will be.

There is that MEGA new hotel I think 30th and 6th. And 29th and broadway is the ace hotel / breslin, very cool. This stuff is all trickling upward.

If you're in for the long haul, this might be a good locale. Convenient for sure.

Of course, I might not go for the overprice high-rise, maybe more of the converted loft spaces, which the area does so well....