Sale at 118 West 79th Street #6B

Prices in this building are all over the map, even during the height of the market. I think whether this gets ask really depends on the depth of the buyer market at that particular time. In fall-winter '06, the sponsor got >2m for low-floor 6es, unrenovated. But immediately after that, a 6 in better condition went for 1.6, 1.7? I can't account for that unless the buyer pool got depleted/disinterested at that point, but then bounced back up again. Because post-Bear, someone snapped up 2 N-facing adjacent 6es from the sponsor for 6? Unrenovated. Then you have the superbly renovated 6 (they lost money on this reno bcs I think this one of those >2m sponsor sales) going for low 2s at the "bottom of the market.

Pros:
1) Great location, 79th dead ends at Columbus, so you feel closer to the park. AMNH is right there.
2) Bus is on the other side, so it's quiet.
3) Large 6-layout, there are 2 mirror images N-facing 6es on each floor, with a long rooms-all-in-one-line 7 in the back. The latter rarely come on the market, and can have great views once they break the brownstones.

Cons:
1) I would double-check the school zoning of the building, the whole area is about to rezoned. www.cec3.org.
2) Dingy lobby and hallways. Manned elevator, step up to elevator.

The sponsor still owns a few units. There seems to be at least 1 sponsor apt for sale every year.

thanks - this is so helpful. for a gut renovation for a 1800 sq ft apt putting in new everything - medium to high end, including wiring and central air conditioning - who is the best person to call for this? an architect? any recommendations? anyone care to provide an estimate? i'm thinking for this apartment it will run at least 600K but i have no basis for saying that!!

Interestingly, the sponsor is still selling in their individual name(s), so it's pretty easy to figure out which are sponsor sales. This looks like a no-board-approval co-op to me. In all my years watching this building, I've never seen anyone advertise the C7 (although a few have been sold by the sponsor). I've always thought that this building got pretty high numbers. Although it is nondescript, I think that the A location and the good views & the "intimate" 3-large-apt layout gives it a bump. The C6s, while not rising to the double-LR & usable maid's room standard, has a large enough DR & foyer that you can carve a 3rd bedroom while still getting an 8 or 10-seat dining table and good traffic flow.

You know the devil's in the details, right? I would not pay ask for this apt, because it would be very hard to swallow someone walking away with a mint-reno 8B for the same. I would budget 500k for the reno, though you could absolutely do it for much less, depending on your appetite for pain.

i'm not on easy street that much and rarely blog but i've seen you on the only other blog i've posted and you have great insight into the UWS market. may i ask if you are a broker or just a property junkie? :) the other blog was for the lolita - i can't believe that is in contract so quickly.

Lolita? I don't think that was me. I am not a broker, and do not get paid for any of this.

i thought it was you b/c i noticed your handle since i tried to get it when i signed up :) lolita on 83rd and cpw - no doorman building -

i would never come close to ask on this apt - and 8B is gorgeously renovated - and sold for 2.3M?

Just reduced $200K, to $2.195MM. Still seems rich considering the terrible condition.

Looks like #4B might have been movie/book money (rights and royalties for "Too Big to Fail"). I don't think the Times pays that well. Nice to see a deserving UWSer profiting from the financial crisis.