Sale at 118 West 79th Street #6A

People want others to take over their mortgage payments. In effect making you a slave to an underperforming asset VS. Themselves. Self serving motherfkers x

Sponsor still holds a few units, as they become available, they put them on the market. Just co-incidence that one is available just as 2 non-sponsor units are on the market.

What's funny is all 3 unit owners thought the same thing in the same time period, so it's just way way too obvious. But funny as shit, I wonder if all 3 of them get in an elevator together what the chit chat sounds like. Flmaozzzzzzzzzzzzzzzzzzzz

Just 2, w67. Sponsor doesn't care as they bought the building >30 years ago for less than the price of one unit, probably.

Huh? Dog ears in inquisitive mode.

Short sale is not a sale?
Foreclosure not sale?

@ Peaky bubble, Ppl actually held off selling. Matter of fact, people bought multiples. Hmmmmmmmmmm. Let's say we are reversing that trend.

2 out of the 3.

nyc10023: How about combining #6A and #6B?

loulounyc: It's possible that the surprisingly strong sale of #4B planted the idea that now is an opportune time to get out. I suspect the moment may have passed. Time will tell.

I saw that. It's a particular dislike of mine to join 2 mirror-image apts - especially C6+. Though, there are some (8A+B) who can afford more and like it.

Did you mean #15A+B? Anyway, I agree that it's a type of combination that is seldom done well, but that doesn't mean it can't be.

6B just sold - no longer on market. interesting. wonder if 3b selling his/hers to buy 6b - higher floor and could probably get a good deal on a 6B which was priced way too high for a gut renovation - imho.

what does it mean for the buyer of 6A i/t/o being across the hall from an apartment that will take at least 6 months to renovate? noise and debris? and can anyone provide some guidance on where the maintenance stacks up in this building? it was just raised $300 or so - and it's higher than any of the other classic 6s i've looked at -
excuse my naivete but does maintenance EVER get reduced?

>excuse my naivete but does maintenance EVER get reduced?

It could, if, for instance: Interest on underlying mortgage takes a big chunk, term ends, and re-fi is at much lower rate; or mortgage is paid off; or co-op has been using maintenance to build up reserve fund, pay for litigation, etc., and need ends; or co-op has commercial space and leases it for big increase in rent; or gets big reduction in taxes; or any number of things.

Unlikely that savings in any one component is big enough to affect maintenance. There's always something else to fix or buy with the extra money.

If maintenance is near an inflection point where it might be reduced -- you can be sure that would be a selling point.

And by "near" I mean within four years.

So unless you hear something like, "the underlying mortgage is going to be paid off in 2015, and then the board will have the option of adding a roof deck or cutting maintenance," when you see an apartment, then you shouldn't expect a maintenance reduction.

Also, remember that this particular building is a small building -- maintenance is high because you've got a full-time staff being supported by only 49 units.

ali r.
DG Neary Realty