Here's an uninspired cookie cutter on the 4th floor of a not so fantastic part of the UES with Common Charges: $3,437 http://streeteasy.com/nyc/sale/391404-condop-130-east-63rd-street-lenox-hill-new-york 03/12/2009 Listed by Prudential Elliman at $1,995,000. 09/08/2009 Listing is no longer available. 09/15/2009 Re-listed by Prudential Elliman. 09/15/2009 Price decreased by 7% to $1,850,000.... [more]
Here's an uninspired cookie cutter on the 4th floor of a not so fantastic part of the UES with Common Charges: $3,437
http://streeteasy.com/nyc/sale/391404-condop-130-east-63rd-street-lenox-hill-new-york
03/12/2009
Listed by Prudential Elliman at $1,995,000.
09/08/2009
Listing is no longer available.
09/15/2009
Re-listed by Prudential Elliman.
09/15/2009
Price decreased by 7% to $1,850,000.
11/16/2009
Price decreased by 5% to $1,750,000.
03/16/2010
Price decreased by 10% to $1,570,000.
06/17/2010
Price decreased by 6% to $1,470,000.
Where is the pricing coming from? Is this all just wishful thinking or am I missing something. Help me understand.....really....
[less]
130E63 is carrying a $7,500,000 mortgage with only 73 apartments. That's about $71 per gross square foot, which doesn't seem to be reflected in the pricing. The maintenance is high even after accounting for the underlying mortgage and small number of units.
#5C upstairs went for $1,475,000 a few months ago, but that was fully renovated.
Ignored comment.
Unhide
Response by falcogold1
over 15 years ago
Posts: 4159
Member since: Sep 2008
Thanks NWT
Ignored comment.
Unhide
Response by maly
over 15 years ago
Posts: 1377
Member since: Jan 2009
You'd think they'd have looked at comps from their own building before setting a listing price. They tried to set a record high in March 2009? Oh well, they're almost where they should have started then, around $1.4M.
Ignored comment.
Unhide
Response by NWT
over 15 years ago
Posts: 6643
Member since: Sep 2008
Looks as if they want a huge premium for the condo-like rules: 10% down, subletting, no board approval.
The comp at 150E69 isn't really, as that's 50% down, etc.
They're whacked. Compare with http://streeteasy.com/nyc/sale/542740-coop-150-east-69th-street-lenox-hill-new-york where maintenance is only $2,000.
130E63 is carrying a $7,500,000 mortgage with only 73 apartments. That's about $71 per gross square foot, which doesn't seem to be reflected in the pricing. The maintenance is high even after accounting for the underlying mortgage and small number of units.
#5C upstairs went for $1,475,000 a few months ago, but that was fully renovated.
Thanks NWT
You'd think they'd have looked at comps from their own building before setting a listing price. They tried to set a record high in March 2009? Oh well, they're almost where they should have started then, around $1.4M.
Looks as if they want a huge premium for the condo-like rules: 10% down, subletting, no board approval.
The comp at 150E69 isn't really, as that's 50% down, etc.