NYC Peak

I asked the same question a few weeks ago. You can look up the thread I think I called it pinpoint the peak or similar. If I recall correctly some people said Q3 2007, some others said early 2008.

completely depends who you ask. In my opinion No. i think the seller is hoping to get lucky

It's not enough information. How did the price they paid in 2006 reflect towards comparable apartments at that time + how much work did they put into it?

Back in 2006 it sold for quite a bit lower price than comps in size because it needed the updates. Updates have been made to the kitchen and bathrooms, although not to everyones taste, but clearly money was spent. However, the wood flooring needs to be totally redone and a few minor things need to be corrected. They are asking for 35K more than they paid for it in 06. Does that sound fair in this market with the updates?

what you need to consider is that there are many buyers who are scared to take a beat up apartment, no matter what the market is. if they take it and make it liveable for $35K, i would expect that the buyer pool would increase significantly and they will get more then they put into it.

you should look at what this apartment would have cost if it was in current condition in 2006 when they bought. then do the discount from that price to current.