building at 24-26 East 93rd Street

There is a discussion on apt 4cd - no way the apt is 2k sq ft as the broker claims. Definitely overpriced. Also noticed someone else started another thread on the building looking for info on the building or simply stating the building was horrible. The super is no good etc.

but 3CD sold for $2.25MM a few months ago...and the current residents of 4CD (who are selling it now) bought it for $2.4 in 2006...the market peaked in early 2008 so this apartment was arguably worth a couple hundred thousand more at its peak? no? thanks for the comment/help nycREjunkie. anyway, the two data points i mention above seems to imply to me that the apartment is worth less than the $2.5MM they are asking for but probably more than th $2.25 MM that 3CD went for. thoughts?

no, the apartment is definitely not 2,000 square feet. probably more like 1,600-1,700 square feet. something like that.

4cd is probably in better condition/recent renovation but certainly not worth the 2.5 ask. I'd personally argue buyer of 3cd overpaid based on low floor, condition of apt and building and size but to each their own with taste and finances and all you need is one person to make the purchase. No doubt good location especially for a family and limited supply especially that is not a typical Carnegie hill park ave ccop. To me they all seem overpriced. I have not seen the pats in question so cannot truly judge the apt or building but definitely seems joke it has some issues. Also why are no past sales or rentals listed for any higher floors? Has no one moved out post public acris data? I guess so.

We've seen 4cd and there's one window on the living room window that faces west down 93rd street towards the park. This window has treetop and reservoir views. You probably won't be able to see reservoir when trees have leaves. 3cd looks into the trees going west down 93rd and there's a ledge sticking out from the brownstone next door that takes away from the view.

we've also looked at 38 east 85th street, which is between madison and park. Aptmt 6A. there is no square footage listed but it looks like a very similar size to 26 east 93rd. it has an extra bathroom, which makes it better in that regard. but 26 east 93rd is on madison between madison and 5th, so a little closer to the park. #3A in 38 east 85th sold for $2.29MM recently...if you assume yuo can get 26 east 93rd for less than the ask, say $2.3-$2.4, it would suggest that the $/sq foot in the $1,400 range could make sense for apartments near central park. what do you think?

$1400 to me seems high even being so close to the park. Also some think the 90s are too high. Like I said it only matters to you or whoever buys it. My previous discussion was more about how the broker was blatantly lying about the sq ft. Also, 85th is a busy thru park street. Warburg has listing for apt on 11 th floor in that building. You should take a look

i guess my point is that if 38 east 85th goes for about $1,400/square foot, then maybe thats not so high...maybe nice apartments near the park just go for that much?

@cbsml I'd really do due diligence on the building. I am not hearing good things and your original question of the lines all selling would make me wonder (I've heard water damage and rodents). Also, like nycRejunkie's observation about lying about square ft, I was lied to about the fact that it was a full-service building. It's not. But I love the 90's between 5-mad, if you want a nice apt in a horrible building, you can't beat the neighborhood.

apple-orange locations--38 e 85 is an awful block compared to 93/mad--no comp

Thehill- when you say that you are not hearing good things, are you referring to posts on this website or do you know people who live there? And, what exactly are you hearing?

@cbsml I have a friend who rents in #26. They like location (kids in school in area) but said building is not well-maintained (which is why they haven't bought and chose to rent). When I looked at a 1-br (4k) apt (which was nice but overpriced) my friend suggested I keep my expectations in-check since it isn't a full-service bldg and look up violations which were numerous, but I didn't do since I found another apt.

2CD just closed at $2mln.

big difference between 2nd floor and 4th floor, dont you think?

The building is on Madison ergo it will be noisy, no matter the floor. I'm amazed at the price. This is not a $2 million dollar building in my estimate. The location is great re the schools, but this building is way over priced. The lobby says it all. The apartment (4th floor) is recently redone, but that doesn't make up for everything else negative in my view.

See my other discussion...this one didn't pop up right away so I started another. Re the rodents, I can't respond, but again I say the lobby and back elevator (which is how I went up as front was having work done) was horrible - and I couldn't imagine how you would even get a queen size bed in it though I imagine they did. Anyway, it looked dirty and I thought high maintenance given only a part time doorman (not that I'm a late nighter, but what are they paying for?). What are the building finances like...maybe the building has a lot of outstanding debt? When was the last time the maintenance was increased? I'd definitely do your due diligence. I know a building a few blocks north that is much nice, and for some reason much less expensive. Go figure.

cbsml - did you do it? 4CD in contract.

I did not do it. Looked at it but couldn't get there, especially with all the issues everyone here brought up. Plus, have heard some negative things in addition. Cant remember who described it like this but 4cd is basically a nice aptmt in a crappy building. Am currently bidding on another building in the area.

Good luck. Shocked this one went. We'll know price and buyer soon enough.

I understand they got their asking price.