let's play "what's wrong with this place?"

Hard to say from the one picture although you would hope that someone trying to sell an apartment would try to at least minimally stage the photo. "Early Anarchist" as the East Village's preferred decorating scheme went out in about 1981.
Aside from that the fact that there is only 1 photo, no look at kitchen or bath is always a "watch out". Anytime I see a listing like that I always suppose its a disaster and appreciate when they openly say "bring your designer", "needs renovation" or the more subtle "estate condition." (Extra credit if they don't beat around the bush at all and say "its a wreck"). And there is also no floor plan...which makes me think its even tinier than one would expect for $300K. No one expects luxury at that price point but, unless one is a great and talented DIYer it is no doubt a challenge. And you have to consider potenial reasale opportunity if its as small as I think it might me--unless someone buys it as a pied a terre.

Assuming it's like the other two units that have floorplans (http://streeteasy.com/nyc/building/3990/floorplans), it's small, 450 sq ft tops. That's about $670 per sq ft, which is low but not outrageously low.

The listing says #1 which might mean it's on the first floor. There could be traffic/bus noise if it's facing 14th St, or darkness if it's facing the back. Actually it's probably dark either way. And being on the first floor could get a lot of noise from the front door -- I remember I could feel my tenement door slam from the 4th floor, it was probably worse from the 1st floor.

Then of course there's the condition of the place, as lizyank mentions.

Sold in January '09 for $385k and listed this year for $300k? I wonder if the owner was trying for a bidding war or simply just wanted out. $100k+ in losses, after transactions costs, would be a bitter pill to swallow on such a small apartment.

thats so far over you're basicall at coned and near the fdr mess. location sucks butt.

I'm shocked it even sold...

there is massive development planned for the east end of 14th street, so no i don't think it's the location. also i believe these buildings are raised from the street level so while yes it's first floor, it's not street level. for alphabet city it still seems really cheap, regardless.

Layout is terrible, assuming it's the same as apt #10. You can only access the living room via the bedroom. It doesn't make sense to flip the rooms unless you want a tiny LR and fireplace in the bedroom. Also only one (very large) closet.

now you're talking.

let's see, you start with $900 a square foot at peak for a tenement coop in Alphabet City, then deduct 10% for Avenue D, 10% for the first floor, 10% for the disgusting decor, and finally, 20% for market conditions: $435K, $390, $350, $315, $250k. Anything more is overpaying.

Does the toilet work? Must add a premium on top of aboutready's apartment.

I agree with Jason. It's very small, probably minimal light but some may like that area/layout. I've been in several of those units and I never liked them.

Look at this rental!
http://streeteasy.com/nyc/rental/633169-rental-118-w-69th-st-lincoln-square-new-york?email=true

They couldn't even make the bed??

with regards to the 14th street apt. I think its the location. 3 avenues to the L trian , next to housing projects, next to a Con Ed plant.

Has anyone BEEN that far east on 14th? Probably the only corner left in sub-96 Manhattan that I do not feel comfortable in, day or night.

I agree with OTNYC. I've lived on A for a few years, was here in the 80s when it was bad, and even now I still feel unsafe on Ave D - even during the day. And 14th street that far over is just gross.

i am telling you guys, they are going to do massive "renewal" on this stretch of east 14th street over the coming years. rs strauss lost their lease, the landlord kicked them out b/c they know they can get a lot of money for a commercial space of that size and location. i'm not saying this will be for the better, personally i see the EV in massive danger of losing its mom and pops, its diversity, its soul and whatever shred of affordability it might still have. but it will happen. however you guys have cracked the code on the apt itself, the sq ft is massively overstated and the layout is awful (neither of which is evident on the listing). A plus.