OH - Sunday --UWS

sjtmd, guess you got over your fear of the bedbug menace?

sjtmd, I've stopped going to OHs for the time being. Depressing, meager inventory and still overpriced. It means I get to take midday naps on Sundays, which are definitely more satisfying.

"The realtors were for the most part detached and dejected."

Isn't this the traditional time of the year to get all excited about upcoming bonuses?

800 West End Avenue #3D
Coop, 2BR / 2BA + Maid's; 1700ft² (stated)
Asks: $1.395MM; Maint.: $1845; Down: 25%
Traffic: Moderate

This estate-condition classic six debuted in June at $1.75MM. Each previous price cut has renewed buyer interest - probably a reflection of the scant inventory of family-size apartments with reasonable maintenance in established UWS coops. The latest reduction, which followed a failed November contract, also attracted a steady flow of visitors on Sunday.

The "D" line is a good - though not overly large - Candela six. The floorplan includes three front-facing rooms on WEA. The full bathrooms are configured as most C6 buyers prefer: one en-suite in the master, and one in the hall. The maid's sink has been removed, though the plumbing remains. Closet space is adequate. The total footprint is probably closer to 1600ft² than the advertised 1700. The rear half of #3D (dining room, kitchen and maid's) is rather gloomy. I think it could be opened up, at least to some degree. The front half of #3D gets nice afternoon light for the third floor.

#3D's lingering presence on the market can be attributed entirely to condition, as the apartment will need extensive renovation. The kitchen has some modern appliances, but any buyer will almost certainly replace everything and reconfigure the rear section of the apartment. The original cabinets are buried under so many layers of paint that they probably aren't worth restoring. The bathrooms are a bit better: the sinks and tile are in decent shape, so it might be possible to just reglaze or line the tubs and do some other spot repairs.

The wood floors throughout the apartment are stained dark and show varying degrees of damage. The living room floor has been gouged by furniture in some spots; cracking an buclking is evident elsewhere. In the master bedroom, chipping and cracking is so severe that total replacement seems in order - unfortunate, since the bedroom floors are the same attractive, rectangular parquet as the public spaces. It might be possible to save the floors elsewhere. The walls are more difficult to assess, since the apartment has been painted for better display. Like the kitchen cabinets, trimwork is submerged under generations of paint.

Looming over the anticipated renovation is a severe electrical constraint. Service is limited to about sixty amps, and an upgrade will have to await building-wide upgrades that have not yet been scheduled. That means the first round of renovation will be largely cosmetic, and the new owners will have to choose their modern conveniences carefully. That probably narrows #3D's appeal to buyers who are willing to endure renovation without reaping many of the usual rewards of the process.

...and what are the characteristics of those genuinely interested in buying"? Tape measures? Pre-filled offer forms? Your 10% down payment in change filling a Chock full of Nuts coffee can?

sjtmd: Please don't feed the trolls. Anyway, I think you're right. Inventory remains weak and stale. It's too early to call January a bust, though. Wait a couple of weeks and see what hits the market.

Spring season doesn't typically start till after the Super Bowl. Too early to tell whether this is the start of a weak quarter or whether people are just watching the Jets.

ali r.
DG Neary Realty

Ali: You're not from around here, are you? UWS is Giants country, along with Westchester, Connecticut and North Jersey. In your new neighborhood, you'll see a lot of Patriots regalia this week. Green (Jets/Eagles) is widely reviled in these parts; and many fans old enough to remember SB XXV still have a soft spot for Belichick, who engineered two of the greatest post-season upsets ever during the 1991 title run.

sjtmd

aren't you based in ct and looking for a weekend place in the city? i remember you being turned off by manhattan in general and coops in particular after your unpleasant experience with the board. i guess my question is how are you selecting which ohs to attend? did you know ahead of time that these boards permit pied-a-terres? did you check the bedbug registry for these adresses? is there a reason you're only looking at coops and not condos?

sorry if my question came off as trollish, it wasn't meant to be, i'm really curious about your situation. you're the one who posted these presonal bits, can't blame the peanut gallery for wanting to know.

lucillemissSE: The troll reference was not directed at you. I was referring to another, more overtly provocative post, to which sjtmd had responded. The site moderator appears to have deleted that one.

We are specifically going to OH's that state "pied a terres accepted". For all others, I had contacted the seller's agent prior to attending and asked - would only go to those where it was either unknown or they are acceptable after review. We checked some condos as well. Did not check bed bug registry - it would seem that this is a very dynamic condition - no guarantee that those not on the list wouldn't be there in the future. All in all, we remain very conflicted about this entire enterprise. The apartments really are dreadful. The overall vibe from the agents, the units, the experience is depressing. My sense is, that in our price range, why bother? We can always stay in a hotel, and if we have a bed bug problem - sue for millions!

actually, w81st, not a pro football fan at -- grew up on college football and am now a baseball girl, daring to be a Mets fan in Yankees territory.

But I did know the Giants didn't play this past weekend. I guess technically the Jets didn't play on Sunday either but that was the game I kept hearing about. :>

The SB is on Feb. 6th...a full 4 Sundays away...I find it hard to beleive that you can use that as an excuse...and the game this Sunday in @ 4:30pm, so you still have all day for open houses.

A-B, traffic is low, and inventory is low, and I don't see how my working on Sunday (which I did, because I'm terrific) changes either of those factors. I held an OH last Sunday downtown, as did two other brokers, and between the three of us we got one (1) customer.

The market should pick up in the spring because it always does .. but let me reiterate something I've said on other threads -- serious buyers make appointments.

ali r.
DG Neary Realty

Any thoughts on 800 WEA -3F? Seems like it needs some remodeling...Also was placed on the market several times. Is the price right for a lower floor that needs a bit of work?