Sale at 50 East 89th Street #TH54

no bid

Really...
What do you think the market will bare for this property?

By the way, great building and great location in the city.

They have not dropped the price in a long time. I saw this a while ago. It was nicely renovated but it is a 2 bedroom (can prob configure to 3) but cannot add a bathroom or expand the 1/2. Light is just OK. It is a 'townhouse' but really a ground floor apartment. It will no longer be in PS 6 after the zoning change. I think 1.1-1.2. I would consider it for that.

I would expect it to sell near the ask. The exterior is fugly, but it is a nice area in a full service building with some outdoor space.

Any lazy day thinkers out there up for a comp challenge ?
Try this one...
save the 'I think its worth' comments...just comps

It looks like the are using the 2/2 that sold for $1.345mm and scaling by the common charges. That sounds like a ok way to set a price. Maybe +/- 5% of offer.

That 1.345 apartment has 3 full baths and a terrace with central park views.
this has 1 1/2 baths no view and questionable secrity. that's not even close to likes to likes.
I'm looking for somewhat similar situations to compare.
There's a reason this place is sitting...price.
I like the location...trying to find the right is the question.

http://streeteasy.com/nyc/sale/558797-coop-64-east-91st-street-carnegie-hill-new-york

But TH54 is 1.5 bathrooms and higher maintenance. Also it was originally designed as a doctors office so maybe one of those on the gound floor that is now being sold as residential might be a better comp.
The unit that is mentioned as a comp is a higher floor with good lighting, 2 bathrooms and was in ps 6 when sold.

security

Why will it not be zoned for ps 6?

Probable zoning change.

Do u have a link to the zoning changes?

No. Went to the meeting. Might be on the ps 6 or ps 290 site since those
Schools are very affected. Also prob .gov site

When do the changes go in to effect 11? 12?

Not sure but I believe for 2011 school year

Here's a recap of the PS6 meeting:

http://www.ps6nyc.org/site_res_view_folder.aspx?id=e8193e27-2d32-43f2-bf3a-d4f0a848e46a

290 certainly is not awful, and some would even prefer it. but the real question is what are they going to do about the middle school situation?

AR and others: the real test is going to be what happens when this year's 3rd graders apply to middle school. Across the board, that's the first "humongous" class across public schools on UWS.

ues_shopper
good comp!