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Overpriced?

Started by ephraim2
about 16 years ago
Posts: 67
Member since: Jun 2009
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Response by PMG
about 16 years ago
Posts: 1322
Member since: Jan 2008

Yes, but this one in the same building is even smaller:

http://streeteasy.com/nyc/sale/524648-condo-111-west-67th-street-lincoln-square-new-york

Lured by the description, "the owner MUST sell it in a month!" I went to see it. It is the size of a small maids room or walk-in closet.

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Response by ephraim2
about 16 years ago
Posts: 67
Member since: Jun 2009

PMG: Worth the price or no? From your description, I think you thought it wasn't. And in my opinion, regardless of the luxuries in a building and the fantastic view, I still need to both live and entertain in a space. A small studio doesn't really give one the option to do so, and if I can afford $610k, I certainly want to do better.

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Response by PMG
about 16 years ago
Posts: 1322
Member since: Jan 2008

You could always rent the tiniest studio in that building, in that neighborhood, but it doesn't make it a great investment. Plus I couldn't live in it on more than a temporary basis. I thought the cheaper one might be worth what the owner paid years back, which I thought was around $330k Someone that owns a larger apartment upstairs might want a guest room or maids room.

Are you in the market for a livable studio?

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Response by ephraim2
about 16 years ago
Posts: 67
Member since: Jun 2009

No, not currently trying to get a studio. Just saw the ad for this place, and compared with multiple other apartments I have seen in the $500k - $700k range, both condos and coops. Seems ridiculously priced in comparison with this rather nice alcove studio for much less $: http://streeteasy.com/nyc/sale/506715-condo-155-west-70th-street-lincoln-square-new-york

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Response by PMG
about 16 years ago
Posts: 1322
Member since: Jan 2008

yeah, but that 70th St alcove studio also has high monthlies and only one window, and no view. there are even better ones out there.

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