Episode 2 of "Defend Yourself Borker"

No staples unfortunately but there is a fabulous powder room. I am not sophisticated enough to know what the true benefits of a fabulous powder room are, but there you have it. A $4 million frigging powder room.

That powder in question would be Bolivian Marching powder. The Bolivian Armed services would be nowhere without it. So where do you keep all that powder??? the powder room! (refered to as a magazine in military parlance). I was just thinking, this summer is as boring as it gets and, there, before my eyes is the unimaginable! Thank you Mr. W67....you saved the day!

No but there is that high end electronics store... called Crazy Best Buy!

falco... who needs a comedy show when you have listings like these.... just set up SE search for over $1000psf, and newest... it's fu*king hilarious...

Please feel free to submit more episodes.. .seriously, I'd love for Monique to chime in on this.. or other listings....

2E sold in June 2009 for $7,740,000. What kind of idiot wouldn't be asking $8 mil for this place?

w67th and falcogold: You both remain/add a credit to your funniest guys on SE rating!!!

"What kind of idiot...?"

And-a 1, and-a 2, and-a 3 : Go guys!!!

Miette... you are right of course, don't go full retard like this gal!
http://streeteasy.com/nyc/sale/510600-condo-15-central-park-west-lincoln-square-new-york
Emily Beare of CORE! at $9,821psf and $55MM asking making Monique Silberman the sanest insane broker in the WORLD!!!!!!!

I think Emily is often a winner in the broker version of the winner's curse.

She also has this listing, which was flogged on Selling NY, which is just 6 days shy of 900 days on market:

http://streeteasy.com/nyc/sale/172603-condo-141-fifth-avenue-flatiron-new-york

Pricing is still at pre-Bear $12 million. They (owners, not brokers) really have no clue as to the value of this thing. Rental asking price history:

02/09/2010
Listed by Prudential Elliman at $39,000.
02/24/2010
Price decreased by 13% to $34,000.
06/08/2010
Price decreased by 15% to $29,000.

inonada, the condo at 141 5th is a sponsor unit. I doubt the broker has much say about the price in that scenario. Which is a shame, because it's a pretty unique space. But not for $12m.

Getting back to the theme though, why pin all this on brokers? Sounds like a lot of shooting the messenger if you ask me.

W67: I support you only because I'm still annoyed that I didn't make 4m+ on a flip at 15CPW ala Evan Cole.

Bjw. Why the f'k do we jail the Ho and not the John? Would my wife take a terminal cancer patient And tell them she could cure them, if they become her patient? Is that ethical? It's a waste of people's time.

Nyc10023, it is but human nature to look at only the lost winning opps, in 5 yrs you'll be singing 'thank god I didn't double down'. And in fact you did make the NYC re 'bet' in your own way, so you were definitely in the 'gotta be in it to win it' camp. :)

If it makes you feel better, my best friend in HS mom 'owned' 20 homes in bayside, but when the mkt turned lost every single unit and ended up on 2 bdrm rental off northern blvd.... And that is where he stayed until he got a job as a trader 10 years later.

5 more days! I think I'll send her some flowers when it hits 900 days.

w67th, it's probably to your credit that you don't know more about this, but johns are nabbed all the time. The comparison of medicine to real estate sales is pretty terrible however.

" You can send me dead flowers every morning,
send dead flowers by the U.S. mail
say it with dead flowers at my wedding;
and I won't forget to put roses on your grave..." ("Dead Flowers" , The Stones)

And when johns get nabbed, what are they forced to resort to? Real Estate. Eliot Spitzer, case in point.

apt23, that's a special case. Expensive ho, expensive property.

my daughter had a hissy fit bc her dress didn't have enough colors.

bjw:  "inonada, the condo at 141 5th is a sponsor unit. I doubt the broker has much say about the price in that scenario. "

Yah, that's what I said.  Lemme break it down like MC Hammer.

nada quote: "I think Emily is often a winner in the broker version of the winner's curse."

Commentary:  In an auction where the participants have imperfect information, the guy who wins is the sucker because no one else is willing to pay that high a price.  The guy wins, but he really loses.  This is known as the winner's curse.  The broker version of the winner's curse, brought to you by nada, is when you think your property should be listed $12M but are willing to sell at $8M, but every broker out there thinks it should be listed at $8M and sold for $7M because that's where the market is.  Except for the one broker who sees the value / specialness of your property that no one else can see.  She "wins" the listing, lists it at $12M, and flogs it for 3 years with lots of time, effort, and money, but cannot ever get to the mythical $200K gross payday.

nada quote: "Pricing is still at pre-Bear $12 million. They (owners, not brokers) really have no clue as to the value of this thing."

Commentary: With that statement, I was trying to implicate the owners, not the brokers, for the pricing.

"... is when you think your property should be listed $12M but are willing to sell at $8M"

Err, make that "willing to sell at $10M"