What do people think of this renovated alcove

apt 2d

seems like the 1brs aren't going for much more than the studios. I see the maintenance is much higher though. I would look at the 1brs

looks like it will be very loud on 2nd floor facing Park. i agree with ccc, look at the 1 br.

Or the studios next door at 10 Park.

The maintenance at 16 Park runs high, as you've got only 64 apartments (all one-bedrooms except this one) carrying the freight of a full-service building.

love the apt because all the rooms have really BIG windows.....prewar detail..etc.....BUT the buyer purchased in 2005 for 275k and now selling for 432k.......i thought we were back to 2005 level? the apt is totally renovated with top end stuff....but would renovating a 550 sq ft studio cost more than 100k.....whats this apt worth on 2nd floor facing park? the 1 beds have pricing in the high 400s.....this apt will prob go for high 300s....but the 1 beds have even higher mtce......the mtce on this studio is 1.5 the sq footage...isnt that normal for manhattan? 10 park is nice but the studios have ZERO character....... but yes the mtce is lower......the 1 beds at 16 park take a long time to sell since the mtce is high......i do like the cute little apt tho.......

it's a cute little apartment, and mid to high 300k is probably the right price. i would be concerned about facing the street on the 2nd floor. while it has a nice feel to be level with the trees the noise would concern me.

Look at it this way:

There're 94 studio co-ops for sale in 10016.

Only 22 of those have maintenance higher than 16 Park #2D.

Only 11 of those have a higher asking price.

It ain't *that* cute, and granite is cheap these days. Look at the cabinets before you call it high-end.

Granted, those rankings might change if you were to eliminate, say, those east of Third.

NWT - you are truly awesome. More than just "comps" - looking at the whole package - maintenance plus price.

PLUS - placing it in the perspective of all comparable sales in the general area. Truly great.

Thanks! It was a slow day, and I like the studios at 10 Park -- those big steel casements -- so wanted to cut down 16 Park. Easy to do.

$350k.

nycmatt.....i was thinking 350k as well esp since buyer paid 275k in 2005.....

i thought we were back to '05 prices...i'm so confused....this seems to prove what i've been seeing that studios and one bedrooms have not moved and only the million $+ aparts. are dropping in price. Regarding this apartment...the maintenance is way too high...you can find studios with maintenance ranging from $450 - $1000 with most of them in the mid $500. a month range.

yes but lots of those studios julia dont have windowed kitchens and bath and on park in murray hill.....lots of those studios are on the UES or east of 3rd ave in murray hill with no character.....BUT i agree this is still high for a studio but its compensated with location....and layout of apt......and if you could get it for 350k....perhaps not such a bad deal....

just looked at the 1000 sq ft 1 bed available in building...its 2500 mtce per month....something has to be inherently wrong if mtce on some apts in this building are 2.5 x sq ft?

So building has high mtce....42% tax deduction and reserve fund of just over $100k.......does this sound financially stable....whats a good amount for a reserve fund for a building of this size?

2500 mntce is ok as long as the mortgage is only 500 month.

This is an incredibly noisy area. The windows in this building do absolutely nothing to lessen the noise. Before buying, account for the cost of putting in new windows and make sure that to do so is allowed. Believe me, you will not be able to sleep unless you change the windows.

i live in the area now and dont have any issues with the noise.....its more about the mtce and reserve fund and was asking about that.

Eastside semi-lowballed and got it for 10% off last-asking:

03/03/2005 Previous Sale recorded for $275,000.
04/01/2010 Listed by Prudential Elliman at $432,000.
04/20/2010 Price decreased by 9% to $395,000.
05/04/2010 Listing entered contract.
06/17/2010 Sale recorded for $355,000.