203 West 90th
Started by bigdude2103
almost 16 years ago
Posts: 46
Member since: Jul 2009
Discussion about
THere's a penthouse for sale now, just under $1.7mm, that seems ridculously underpriced (3br, huge terrace). Aside from general arguments that the entire market is overpriced (I don't disagree), does anyone know why this unit seems cheap on a relative basis? Just over $1k psf without including the huge terrace. Thanks.
dude, that building has been wrapped in scaffolding for a few years now. It's a hybrid oddball of prewar with new floors added on top. Last year I saw a group of people in very non-construction attire being led through the matrix of the scaffolding. Could have been board members but I remarked to my wife that it looked more like a jury. Anyway, caveat emptor. It's likely underpriced for a reason.
I looked into this building, and the main issue is that the top floors have some structure issues. There was a lawsuit against the builder and the building won. However, it is very tough to get a mortgage in this building. The work will go on for years and I don't know if it will ever be resolved.
Is this the building Tim Gunn bought a high floor unit in?
Yes, it is. He owns PHG. The buyer will be neighbors with Tim Gunn. Guess there's not a Tim Gunn neighbor premium. ;)
checked this unit out. no real clarity on the construction, other than the facade on the added units needs to be replaced. it's a really nice unit. real 3br / 3 bath, small kitchen and living room. the terrace is amazing. all in all, if you're willing to take the risk, its worth it, but man, who knows that the risk is...