building at 447 East 57th Street

Smaller buildings have to (or should) hold the hoop higher, because of the impact of one owner becoming unable to carry their share of the weight.

The financial requirements aren't enacted in any formal way, but can change as the board tries to balance saleability with stability.

I am trying to think of how to say this gently and fear I will not succeed. This building's tenants have no interest in sharing their building with people who are not like them. One way to insure this is to welcome only people of some means. They are not interested in someone who has managed to save $1MM and who can swing $3000 a month in maintenance. That is only a starting point. Ease of sales is not high on their priority list. And yes: among a certain set there are plenty of people who keep $4MM in liquid assets. Even asking that evinces a certain naivete about what these buildings are about. You want to really drop you jaw? Look at requirements for River House on 52nd Street or many Park Avenue or Fifth Avenue coops. In those, apartments costing far far more than those at 447 E 57th St. end up requiring liquid assets of well over $100MM in some cases and require buyers to pay 100% cash.

You miss a very big part of the picture is you approach such a building as if it were just another coop with $1MM one bedrooms.

Drool over the full-flr Candela now in contract. I would not belong in the bldg at all, the staff would probably direct me to the servants' entrance. Long live the aristocracy.

NY10023 - That apartment Is incredible - and look how fast it went to contract. Someone thought they were getting a bargain paying just over $1,000,000 more then the sellers paid pre-renovation. Yup, the super-rich ARE different than us mere mortals.

Layout is great, ph. But I would redo the whole place. Not my taste. Only thing missing is outdoor space.

Yes, the layout is serviceable. The removal of the pantry between kitchen and dining room is troubling since there is no longer a buffer between dining room and kitchen which could be undesireable during diner parties. But that could be fixed I suppose. An additional staff room would be nice, too. You can't really ask the laundress or housekeeper to share quarters with the personal assistant. I would find a way to make it all work if I had to. But nyc10023 you are quite correct. Even if it were to double to cost of the place, it could really use a few terraces off the public rooms.