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Sale at 781 Fifth Avenue #1011

Started by AnonymousUser
over 15 years ago
Posts: 150
Member since: Mar 2010
Discussion about 781 Fifth Avenue #1011
This may be the nicest looking building in the city, but the units look just so-so. I do not understand how anyone, though, can pay such hefty maintenance fees. I realize there are hotel services included as well as room service (although correct me if I'm wrong - it isn't complimentary meals!), but to pay >5K/month for an apartment that's under $1 million is nauseating. A friend of mine in Philly is getting married in NY and wants to have a rehearsal dinner at Cipriani's. I think they oughta check the menu prices first!
Response by NWT
over 15 years ago
Posts: 6643
Member since: Sep 2008

I want that bathroom. Looks as if almost everything is original.

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Response by ph41
over 15 years ago
Posts: 3390
Member since: Feb 2008

If you think that's ridiculous you should check out the listings at the Lombardy Hotel - no fancy location, coop units sold in the same way (can be rented out as hotel units), and no real services to speak of.
http://streeteasy.com/nyc/sale/497893-coop-111-east-56th-street-midtown-new-york
apartment 1104 1 bedroom listed at $795,000 with maintenance of $3,704

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Response by matsonjones
over 15 years ago
Posts: 1183
Member since: Feb 2007

Well, you DO get evening turndown service.

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Response by ph41
over 15 years ago
Posts: 3390
Member since: Feb 2008

http://streeteasy.com/nyc/sale/557931-coop-111-east-56th-street-midtown-new-york. Penthouse unit.
7/24/2009 Previously Listed by Sotheby's International Realty, Inc. at $9,500,000.
04/23/2010 Sotheby's International Realty, Inc. Listing is no longer available. Last priced at $6,900,000.
09/29/2010 Listed by Brown Harris Stevens at $5,495,000 01/08/2011
Price decreased by 11% to $4,900,000.
Well, I guess even with turndown service people just can't see paying $15,613/mo., even for the penthouse unit. I mean, let's face it, the Lombardy is definitely NOT the Carlyle.

I really can't figure out how they ever sell anything in this building.

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Response by AnonymousUser
over 15 years ago
Posts: 150
Member since: Mar 2010

my god those fees are crazy! a 450K studio that had a $2,300 co-op fee or a 650k 1 bedroom with a $3,700 fee. it's obscene. maid service isn't that important!

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Response by AnonymousUser
over 15 years ago
Posts: 150
Member since: Mar 2010

I stand corrected - looks like the Carlyle takes the cake for most insane co-op fees. Studios and 1 bedrooms sold 500-600k but with monthly fees of $8,000 - $12,000. Try the $3 million penthouse with a monthly fee of 21K!!!

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