They Didn't Get the Memo

but steve....
what about the panache of the west village? The highline? The weekend bridge and tunnel crowd of the now 'past it's prime' Meat Packing district? What about the transvestite hookers???
I think you're a little to focused on the intrinsic value of the property.

you can't put a price on proximity to the meatpacking district. even greater than the aubergine factor.

steve, they may have done the renovations. those subzeros ain't cheap, you know.

It's the Caesar Stone: veni, vidi, bankrupt.

It was overpriced in 2005 at $1.2 million.

AR: My GE keeps my stuff cold. Don't know about SubZ.

I thought we returned to the ideology of homes being a place to live not an investment.

9500 a month to buy...what would this rent for right now?

There aren't a lot of rentals in that area, but probably about half that.

It's EASILY 50% overpriced.

It was overpriced in 2005 at $1.2 million.
It's EASILY 50% overpriced.

Steve, I know!! Drives me f-ing crazy. I see this a lot. Then, there are instances where it sells below the bubble price but it's still overpriced.
Is it that they have so much $, they don't care?

Thing about this bld is that it's kinda unique in the area, being a post war high rise. And, this is a 2 bed high floor, but, even still. Looking at the comps, I'm thinking it'll close around $1.5-$1.6, which is still stoopidly high.

Bubbles take time to deflate, dwell. It's not a bad building, I know people who used to live there. Still, they layout is most hallway, the bedrooms are small, and no way it's worth anywhere near that.

Comps at better buildings are in the $1.1 million range, and even that is stooopid.

I want it to be worth much less. I think it is worth no more than $300,000 based on nothing at all.

There is no way they are going to get $1.75 million. Here is a recent comp that went for much lower...

http://streeteasy.com/nyc/closing/1005372

This went for $1 and it is 2100 square feet. There is no way this apt asking 1.75 is 2100 square feet. They are both apartments in NYC, so they are comparable. I think they should lower their price to 50 or 60 cents and pray they get it before this market really implodes.

I mean why would they think they could get 1.75 when a similar 2 bed 2 bath just sold for 1.6 on a lower floor in worse condition, they are so stooopid.

I will keep an eye on this one, when it drops to 50 cents I will put in a low ball offer around 10 or 20 cents.

Oh, jh - you're being silly.

That apartment is - generously - 950 square feet, of which a lot of it is useless hallway. 1.75 baths, not even 2. At a you'll-be-lucky-to-get-it $1,000 psf, you're talking $950,000.

So much for "based on nothing at all."

Now that we aren't basing thins on nothing at all anymore...Steve, I think you are being really too optimistic about this place. Based on my "comp," and your in depth analysis of the square footage, this baby will crater well below $1.

Wait a second, we haven't even done a rent vs buy comparison yet. Some people pay $0 rent, they just live with their parents. So even if someone bought this apt for 50 cents they would still have to pay $1500 a month in maintenance fees. That is just nuts!!! That money could be invested in the stock market instead of being used to pay stooopid maintenance fees. Or better yet, it could be put into the hottest penny stock out there every single day. Take CSNT, which is up 175% today. If you took that $1500 a month and made 175% on it everyday, it would be worth more than the GDP of a small country in no time.

Who is going to give this seller the memo?

come on, jhochle - that 175% return would result in a pot too big to play penny stocks after a few weeks. You'd have to move to the futures market so you could really leverage the $ but still have enough liquidity. Maybe take that return down to 50% or so daily - I mean, be reasonable...

"That apartment is - generously - 950 square feet, of which a lot of it is useless hallway."

I agree steve. In fact, if you put these two floor plans together and compare the dimensions, it is difficult to determine which one is bigger. What do you think?

http://ellingtonnyc.com/18_28_c.html

http://streeteasy.com/nyc/sale/514814-coop-61-jane-street-west-village-new-york

Fine printer, we can all agree that 50% daily return is the minimum you would make outside the real estate market. Still, the US government would have to allow me unlimited access to the federal reserve balance sheet in order for it to be worth it to buy this apartment.

juiceman - No You Didn't!

Maybe swe, printer, and LIC can help compare these two floorplans. Which one is bigger?

clearly the ellington is much larger. though the measurements would say they are remarkably similar, you have to take into account the latitudinal distortion that takes effect as you move those 40 blocks north....

Well, Juicy, given that every one of the rooms in the Ellington is significantly larger except the kitchen, I'd say that one.

Plus the Ellington apartment isn't full of a long hallway, and it has 2 full baths and 2 balconies.

Plus if you look at the photos for the Jane Street apartment, the 12' x 24 dimension for the living room are obviously at the widest point - the part with the entryway - or else they have a 12' wide round dining room table.

Whereas the width of the Ellington living room is its narrowest. From the window to the front door it is 15' 2.5" wide. I know because I have a 6' long dining room table there that seats 6 (without the 2 leaves).

And the width of the room at the alcove - where I have a 44" LCD TV and a stereo system in two different pieces of furniture, is 15' 10".

The Ellington apartment is QUITE CLEARLY significantly larger at a much lower cost. Unless based on that photo of the tiny round dining room table with 3 chairs you think I can fit my 6' dining room table + 2 leaves?

Fool.

> The Ellington apartment is QUITE CLEARLY significantly larger at a much lower cost.

Oh jeez.

Now the clinton ghetto is of equal value as the west village, too?

Steve, you have no shame.

"Fool"

Well steve, since you have decide to call me names instead of prove me wrong:

Bedroom 1 – Ellington 13 x 11, Jane St. 12.7 x 12.5 – Jane St. bigger by ~16 sqft

Bedroom 2 - Ellington 16.5 x 12.1, Jane St. 10.9 x 14.2 – Ellington bigger by ~44 sqft

Kitchen - Ellington 7.9 x 7.6, Jane St. 8.10 x 12.6 – Jane St. bigger by ~40 sqft

Living Room – Ellington 23.10 x 12.3, Jane St. 24.9 * 12 – Jane St bigger by ~15 sqft

Total based on the dimensions, Jane St. bigger by ~27 sqft (and that's not even counting the long hallways and large foyer in Jane St.)

steve, only you could spend countless hours trying to convince everyone that your apartment is 1200 sqft and THEN post an apartment that is actually LARGER than yours and say it is “generously” 950 sqft.

Can I get a HA, HA, HA, HA, LMAO from the gallery please? Does anyone else out there appreciate how easy it is to make steve look silly?

Steve, this could be your low point and there have been many low points for you.

"Well, Juicy, given that every one of the rooms in the Ellington is significantly larger except the kitchen, I'd say that one."

Don't forget one of the bedrooms and the living room, but hey 1 out of 4 isn't bad.

"Unless based on that photo of the tiny round dining room table with 3 chairs you think I can fit my 6' dining room table + 2 leaves?"

Can you call up the Jane St. owner and ask if you can bring your table and 2 leaves to check it out?

"steve, only you could spend countless hours trying to convince everyone that your apartment is 1200 sqft and THEN post an apartment that is actually LARGER than yours and say it is “generously” 950 sqft."

hee hee.

"Can I get a HA, HA, HA, HA, LMAO from the gallery please? Does anyone else out there appreciate how easy it is to make steve look silly?"

You got it before you asked...

HA, HA, HA, HA, LMAO

'Steve, this could be your low point and there have been many low points for you'
-sadly, there have been lower points

Wrong again, Juiceman. The Ellington's living room and master bedroom are considerably larger than the Jane Street apartment.

Master Bedroom:

Jane = 152.33 square feet
Ellington = 194.74

Living room:

Jane = 297
Ellington = 291.92 PLUS the alcove (28 ft2) PLUS the (usable and used) entry area (32 ft2) = 359.92

PLUS

as is apparent by the photographs, the Jane Street dimensions are the room at its widest. Actual sized TBD.

Sorry.

And sorry, somewherelse the average price per square foot of 10019 is so much higher than the average of 10010. Don't know what link you used in the other thread, but here you go again:

http://realestate2.nytimes.com/community/ManhattanMarketData_Average.asp?intflag=3

HAHAHAHAHA!

The memo is really about where you want to live? What type of place do you want to live in? That will set the value.

I hope they tell the buyer not to use the pay phone on the corner and watch out for the drug dealers and their pit bulls with the vocal chords removed.

"Wrong again, Juiceman. The Ellington's living room and master bedroom are considerably larger than the Jane Street apartment."

The numbers above already conceded that the master bedroom at the Ellington is larger however, the living room (using real math above – not steve math) is not larger. Just look at the numbers above steve, it's not hard.

"PLUS the alcove (28 ft2) PLUS the (usable and used) entry area (32 ft2) = 359.92"

steve, then you should measure the foyer of Jane St, because it is definitely larger than your alcove. Regardless, even if what you said was true (which it is not) the Ellington would still only be larger than Jane St. by ~25 sqft. So, if Jane St. is "generously 950 sqft" that would make the Ellington unit "generously 975 sqft". I don't know if you know this steve but 975 sqft is MUCH smaller than the 1200 sqft you claimed was the size of your apartment. So how is it that I’m “wrong again”?

steve, you are really sloppy with your lies lately. Here is the thread where you tried to convince everyone (unsuccessfully) that your apartment was 1200 sqft. Now, using your own words, it is under 1000 sqft. Can't make this stuff up.

http://streeteasy.com/nyc/talk/discussion/15605-where-can-you-buy-this-apartment-for-3600-a-month

Yet another thread that steve ran away from because he could lie himself out of his lies

couldn't

inonada, how about this for an example of "real numbers"?

Wow, I just saw this. steve the lying clown strikes again. He actually is trying to say that his apartment is bigger when both floorplans have the dimensions of each room and, using simple math, the Jane Street apartment clearly is bigger. JM, good point in that even if they are the same or within 25sf of each other, it exposes steve's earlier lie that his place is 1200sf.

LICC, I wonder why steve won't comment on this thread anymore?

He is probably looking for a research paper from Harvard that says something about measuring rooms so he can distort it and claim that it supports his lie that 950sf is really 1200sf.

JuiceMan,
It's off topic but, how is dad life?
BabyJuiceMan keeping you on your toes?
At least your time on SE has prepared you for taking shit albeit in small packages at home.
Best regards to JuicsMama.

Hey falco, thanks for asking. Baby JuiceMan is doing terrific. He is sleeping / eating great and has a fantastic disposition (lots of smiles, laughs, and loves people). Love being a dad, I'm a very lucky guy to have such a great little boy. We can already tell he is going to be into everything and will definitely keep us on our toes. How are you? Do you have little ones?

JuiceMan, why don't you come over to my house and measure it for yourself? Then we'll go over to the Jane Street house together, and measure it.

Until then, just live your little fantasies. (Can't make this stuff up.)

Even if your measuring technique were close to close, mine still costs 1/3 the price.

HAHAHAHAHA!

JM: best sound in the whole wide world - your baby laughing at something you did.

Please give BabyJuiceMan a squeeze for me too! Congrats!

"JM: best sound in the whole wide world - your baby laughing at something you did."

"Please give BabyJuiceMan a squeeze for me too! Congrats!"

:)

"JuiceMan, why don't you come over to my house and measure it for yourself? Then we'll go over to the Jane Street house together, and measure it."

I can see the two of us bickering in your living room, that would be a classic streeteasy moment.

Juice,
Got 1, old enuf that for some strange reason...I owe her money.
All is good on the UES as we prepare for the fiscal rigors of middle school.

i owe mine money too. falco, weren't you going to give me a call about this insanity? i promise not to be too dour. how's the search going?