On a beautiful, sunny Sunday, there were plenty of people walking West End Avenue with show sheets. Apartments in move-in condition continue to spark the keenest interest. 310 West 86th Street #3B Co-op, 7 rooms: 3 beds 2 baths plus maid's room and bath Asks $2,295,000 Maint. $3407 Traffic: Moderate http://streeteasy.com/nyc/sale/585198-coop-310-west-86th-street-upper-west-side-new-york 310/320... [more]
On a beautiful, sunny Sunday, there were plenty of people walking West End Avenue with show sheets. Apartments in move-in condition continue to spark the keenest interest.
310 West 86th Street #3B
Co-op, 7 rooms: 3 beds 2 baths plus maid's room and bath
Asks $2,295,000 Maint. $3407
Traffic: Moderate
http://streeteasy.com/nyc/sale/585198-coop-310-west-86th-street-upper-west-side-new-york
310/320 West 86th - a.k.a. the Royal Summit - is a distinctive mid-block coop with two attended entrances and no rear-facing original apartments. In all four original lines, the living room and one bedroom face north, over 86th Street. The format resembles the elegant 151/161 West 86th, but on a narrower set of lots. The resulting elongated floor plans, with a long corridor and the front bedroom distantly separated from the family wing, are not for all tastes. The people who like 310/320, however, seem to like it a lot: listings here continue to draw strong interest, despite maintenance above the neighborhood norm. The separately-managed sibling, 302 West 86th -where maintenance is more typical - has also fared well.
#3B is the first post-peak listing of an intact apartment at 310. (The more recent sales have been at 320.) The listing says #3B needs TLC. I would agree with that assessment of the impressive public rooms, where details have been preserved and the lovely herringbone floors can probably be salvaged. The rest of the apartment needs reconstructive surgery. The original kitchen and baths appear beyond recovery. As for the bedrooms, the rear part of both lines at 310 is awkward anyway, with the putative master sharing a bath with the second bedroom; so I think the best bet here is faithful restoration of the LR, DR and foyer and gut renovation of everything else. It might even be possible to add a bathroom, or at least to make the maid's bath more functional.
One the work is done, #3B will be charming, though it will never be overly bright. This could be an interesting listing to watch, since it bears two burdens - poor condition and high maintenance - that have recently been problematic.
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The "A" line at 895 WEA sits on the southwest corner of 104th and West End. The classic seven footprint offers some intriguing options, because the kitchen/servant's wing is unusually deep. In #2A, the extra space has been used to create a comfortable, banquetted breakfast area and a small laundry nook. In this sense, #2A functions more like an eight-into -seven than a standard WEA seven, where such comforts usually require sacrificing the maid's room.
The other design choices in #2A show less awareness of resale impact. The finishes - particularly in the upscale country kitchen and gold-plated bathrooms - leave the lasting imprint of one owner's taste, and will probably narrow the buyer pool. The public spaces offer an odd juxtaposition: the foyer and dining room are ambitiously formal (somewhere between Louis the Somethingth and Belle Epoque), but the living room has been narrowed by built-ins to a narrow den/family room with recessed lighting and the television as its focal point.
The by-owner sale of #12A for $2.425MM last fall reset the market to near-peak levels in a building where few large apartments had changed hands in recent years. #12A hit a sweet spot, with excellent light, little competition and a neutral renovation that included central air in most rooms. #12A also made different use of the footprint, pulling the kitchen back from West End, using the front half of the kitchen wing as an informal dining room and the original dining room as the living room. The casual flow and gentle styling attracted many inventory-starved C7 buyers. #2A has narrower appeal. The question is whether it can capture the fancy of at least two determined bidders.
Potential buyers should also research the cost of mandatory window replacement, which will hit ornately fenestrated apartments like #2A particularly hard.
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Response by uptowndude
almost 15 years ago
Posts: 70
Member since: Nov 2010
Wow, $2,425MM! Good to know the economy is booming on the Upper West Side. Remember the days when those in the arts could live on the UWS? Remember the days when there was a middle class in Manhattan? Now you need to be a hefty donor to the arts to even attempt living on this island.
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Response by Buywest
almost 15 years ago
Posts: 2
Member since: Feb 2011
W81- What do you think of 845 Westend Avenue, apt 3E? I know it is dark, but what do you think of the price?
825 WEA might offer some cautionary notes for buyers considering more recent condo conversions, regarding the long tail on the conversion process. Although the building is over 70% owner-occupied (at least for the purposes of reporting to Fannie and Freddie), inconveniently long-lived tenants and unrefurbished public hallways reflect unfinished business, nearly two decades after the condo became effective.
#3A is a particularly grim example. Approached through a dark landing redolent on Sunday of cat urine and schmaltz, #3A is a sponsor six in which virtually nothing is salvageable. The listing states that the $2MM price is for delivery in as-is condition. That's clearly negotiable, or perhaps a subtle joke. Nobody will pay anywhere near $2MM for this apartment in its current, bombed-out state. It's worth noting that the Weinreb organization usually offers basic gut renovation at reasonable cost. Judging by the same team's work here and at Sabrina or 315 West 86th, the main attractions of the sponsor's reno package might be price and the crew's familiarity with the building's quirks.
The apartment's strengths can be summarized in one word: size. The rooms are big, and the overall square footage is toward the upper end of WEA sixes, although it falls well short of the stated 2,100. Despite the generous footprint, flexibility may be curtailed by the position of the bathrooms, which are en-suite at the corners of the apartment. A good architect could probably solve that problem, but I think there are better uses for such an architect's talents than a low-floor wreck in which only the two front-facing rooms get decent light.
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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008
For what it's worth, I thought 895 12A was well-priced for what it is and wasn't at all surprised to see it sell quickly at slightly above ask.
The owners had utilized the apartment's top-floor location by installing central air (compressor on the roof) and building a restaurant-style exhaust hood over the top-grade chef's stove. The kitchen itself was beautifully appointed, with high-end appliances and gracious, eat-in layout.
The apartment itself was light and airy with beautiful flow and a tasteful, good quality renovation. It was clear the owners cared a great deal for their space and I believe that can have a considerable impact on a sale.
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Response by AvUWS
almost 15 years ago
Posts: 839
Member since: Mar 2008
FWIW, I love the layout of 895/12A way WAY more than 2A. Seriously, where do people live in 2A? There is a huge dining room, an additional breakfast room, and a relatively tiny LR that feels more like a viewing room than anything else. The colors in 2A don't do anything to help open it up either. If 12A is setting the price here then no way 2A, one floor above street level, with its design choices, and with its configuration can get what it is asking.
That said, in an UWS C7 marketplace is all really boils down to inventory and the jobs picture in NYC doesn't it? Talk about sub-markets!
(Did I mention I really like the layout choices in 12A?! I don't even have to look at the pictures to tell a difference, though those only exacerbate my love of one of these apartments over the other.)
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Response by AvUWS
almost 15 years ago
Posts: 839
Member since: Mar 2008
On 2nd viewing -
Is it just me or wouldn't someone paying $2.4 million for a 3BR apartment with all this space expect a bit more than one regular sized bathroom and one that looks like it was squeezed into a closet with the sink in the master bedroom?
This is a crazy market when you consider what someone has to pay to get the character of a pre-war apartment. Or is this part of the character we are paying for?
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
Buywest: On higher floors, I think the "E" line at 845 is quite attractive. Whether it makes sense to trade eight floors of elevation for $750K really comes down to personal priorities. My own view is that a new condo conversion carries enough negatives that I would have to really LOVE the apartment to take the risks; I can easily see a buyer falling for #11E or #12E that way. If the apartment itself were a compromise - as #3E seems to be for most of the people considering it - I'd try to put the $2.75MM (or whatever it takes to buy #3E) into a building that offers more stability and/or an apartment that didn't feel like settling.
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Response by falcogold1
almost 15 years ago
Posts: 4159
Member since: Sep 2008
'Potential buyers should also research the cost of mandatory window replacement, which will hit ornately fenestrated apartments like #2A particularly hard.'
'ornately fenestrated apartments' W81st...that's re poetry!
This high-floor six drew a big crowd to its debut, mostly because it has no glaring flaws that jump out from the listing. Location? Check. Condition? Check. Light? Check. Doorman? Check. Price and maintenance? Sufficiently plausible to be worth a look.
The renovation of #16E is nicely executed, with pre-war charm preserved and some much-needed storage added. The kitchen is attractive and well-equipped. Everything here is pleasant, but nothing is grand. The rooms are rather small, and the flow, while efficient, lacks the sweep of a really good classic six.
The total "E" footprint is under 1400 square feet, the size of a good five. The asking price works out to about $1250/SF. The previous high for this line was $1.57MM for #15E in 2006, or about $1150/SF. Secondary lines on West End can offer good value - especially on high floors - but $1250 is a level that seems more suitable for the front of a top building than the rear of 545. If the enthusiasm for #16E survives actual viewing, it will say a lot about the appetite for move-in listings with good light.
The "F" line at 670WEA is a very respectable corner seven. The rooms are large, and six of them comprise a seventy-foot avenue frontage with eleven windows. That's great on high floors. It's a mixed blessing closer to street level, but West End in the low nineties is reasonably quiet.
#4F is fairly well-preserved, with the only pressing needs being the usual updates to kitchen and baths. The apartment has one important quirk, however: the dining room has been converted to an eat-in kitchen. Reverting to a formal DR does not look daunting at first glance: the changes to plumbing, wiring, walls, gas lines, etc. appear limited; the original parquet floor remains; and none of the added kitchen fixtures are worth preserving. The full extent of the damage under appliances and cabinetry probably won't be known until demolition begins. At the very least, it seems likely that the floor is wrecked.
Another, less formal, option would be to update the kitchen where it is, and try to make better use of the original kitchen-maid's wing than its current role as laundry and storage. The space could serve well as a guest suite, teen bedroom, family room or extensive home office, while still holding the washer-dryer.
#4F also has a curb-appeal problem. The Board of 670WEA has been gradually upgrading common areas, but the landings in the front half of the building are especially challenging and remain eyesores. At the current asking price, #4F would probably cost the new owners over $3MM with renovations. That price point, with monthlies over $3K, just doesn't mesh with a landing that looks more suitable for freight and trash than elegant guests. Across the intersection, at 685WEA, this space would command that kind of money. (There are no true sevens at 685; converted sixes trade above $2MM.) At 670, for now, the price looks ambitious for an apartment that wants significant alteration.
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Response by tribecasearch
almost 15 years ago
Posts: 17
Member since: Nov 2008
Any good garden listings you're seeing?
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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008
West, do you really think the reno would cost $400K? That sounds high to me, even with a full kitchen redo.
Personally I think the current kitchen configuration is a real drawback. Most people spending that kind of money on a classic 7 are going to want a formal DR for entertaining. Being relegated to dining in a 'country' kitchen on a butcher block table does not exude elegance.
Also, FWIW, I'd work a bit on the staging. Lose the goofy extra-large family photos taking prominence on the den walls and get rid of the ridiculous caddy-corner bed set-up--that kind of layout always screams 'not enough space for proper bed placement!!'. Dump the bureau--anything. Just please put that bed in the proper position.
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Response by columbiacounty
almost 15 years ago
Posts: 12708
Member since: Jan 2009
its ironic. the apartment has a really nice sized master bedroom and nice windows because of its placement on the corner but the two sets of double windows forces a very awkward placement for the bed relative to the door.
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Response by huntersburg
almost 15 years ago
Posts: 11329
Member since: Nov 2010
but columbiacounty, you don't like windows anyway, right?
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Response by jim_hones10
almost 15 years ago
Posts: 3413
Member since: Jan 2010
were any of these apartments prices at or below $500 per square foot? west 67?
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Response by jim_hones10
almost 15 years ago
Posts: 3413
Member since: Jan 2010
Really, it's time. I'm ready to buy. I've found the perfect apartment on East 9th/University Place. I just need the price to be slashed by about 60% the way West 67th has been saying it would be for the last year or so, so when is it going to happen?
Over the past five years, 255 West 84th has offeed something of a Rorschach for prewar enthusiasts. Optimists see the building's run of bad structural luck and spiraling monthlies as a freakish outlier; pessimists figure many 100-year-old dwellings have similar latest defects and will need similar investment. I lean toward the latter view, though few Boards are forced to fix so many problems in such a short time. The latest project is the elevators, the last major item I'm aware of. The cost of the many improvements will linger, in the form of a $10MM mortgage that inflates the Alameda's already hefty maintenance.
These issues won't help the marketing of #5C, a 'tweener apartment with no obvious niche. In its original configuration, the Alameda's "C" line was probably one of the better Edwardian Fives, with high ceilings, beautiful details, a gracious dining room and ample southern light in the living room and bedroom. Times changed between the wars, and the market dried up for one-bedroom apartments with servants' quarters. This line, like many E5s, was rebadged as a two-bedroom to compete with classic fives, high-end fours and low-end sixes. The scars from this change vary. In #5C, it seems that space from the dining room was borrowed to expand the foyer into a dining area, with the remainder of the original DR becoming a second bedroom. On paper, the use of space makes sense; but the relocated wall disrupts the pattern of the herringbone floors that are among the apartment's prettiest features.
#5C is generally in good condition. The kitchen and home office are well-appointed, attractive and efficient, with excellent storage and workspace and a functional bathroom. The master bedroom might look bigger without the red carpeting and drapery, and with the bed in a different location. The mirrored living room and gold-trimmed hall bath could use a facelift. Floors throughout the apartment show wear. The second "bedroom" (the original dining room) is currently a den, with extensive built-ins that shrink the space and limit it, as a bedroom, to occasional guests.
The biggest challenge here, as with many outdated apartment formats, is identifying the target buyer and the best use of the space. Despite many decades of tweaking, the "C" line remains, essentially, a really great one-bedroom. In a buiding where a high-floor seven in fair condition with open views just closed for $1.5MM, I would be surprised to see #5C come close to the current ask. Direct comps are scarce; I think #4C sold a year or so ago, but there's no sign of a public record.
Ps. Please don't feed the trolls.
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
Bramstar: At a purchase price of $2.6MM for 670 WEA, I think it would be hard to close the deal, move the kitchen, do the bathrooms, take care of the inevitable "miscellaneous" upgrades, fix-ups and move-in expenses and keep the all-in cost much below $3MM. Even if the number is $2.85MM, it's still a lot of money.
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
Typos in that 255W84 write-up:
has offeed ==> has offered
latest defects ==> latent defects
The Normandy's "K" line offers direct river views from the living room and one of the three bedrooms. That river-facing bedroom poses a bit of a puzzle, though: it's not a true master; the apartment's en-suite bath is attached to the second bedroom, which faces east. The river-facing bedroom shares the large hall bath with the northeast-facing third bedroom. Another oddity of the "K" floor plan is a small dining room which, coupled with the absence of a maid's room, generally puts this line in competition with classic sixes rather than grander prewar 3BRs.
When these limitations are added to the Normandy's lackluster hallways and highish maintenance (which does include electric), it's understandable that the "K" line has never been a market favorite, despite the views. For eight years, sales have clustered around the $2MM mark, with renovated low-floor units generally outperforming high-floor units that need more work. Corcoran's stale listing for #19K and Halstead's new offering of #11K both tend toward the latter category. Neither apartment is a wreck, but #19K hasn't been touched in decades and #11K seems to have worn out the patience and resources of its owners, who bought it as a fixer-upper in 2007 for $1.995MM.
In a bake-off, each apartment has advantages. #11K offers grandfathered laundry facilities, plus the beginnings of a good renovation: electric has been upgraded, with wiring and cabling embedded in walls; windows have been reglazed; and some modest bathroom updates are evident. #11K also boasts a recent skim-coat job, though the new owners might have to bring the painters back after other work is done. #19K has better views (the highway is much less prominent) and the extra eight floors also seem to help with traffic noise - more so than the new glass on eleven. I think the bathrooms in #19K are nicer; the recent updates in #11K seem mostly of the "bare mininum to sell it" variety.
Although both kitchens are outdated, the layout in #19K seems less bad, with a reasonable eating space and a doorway to the dining room. Admittedly, the main reason #11K's kitchen is so cluttered and closed-in is the presence of a full-size washer and dryer, which are probably not even an option in #19K. Both kitchens feature ugly storage and workspace, though it's possible that #11K retains its original cabinets, under many layers of paint. Both apartments have the original herringbone floors that run throughout all major rooms. The floors in #19K seems to be in slightly better condition; that impression might stem from the concealing effect of a darker stain. Refinishing is needed in both apartments, and is already scheduled in #11K. Both apartments have through-wall AC in some rooms. The units appear more modern in #11K.
Halstead seems to be mounting a savvy, well-aimed counter-sales campaign against the competition eight floors up. I think the pitch might succeed, to the extent that #11K could fetch a higher price than #19K. It remains to be seen whether the improvements to #11K are sufficient to overcome a near-peak, same-unit sale (by the same broker) for $500K below the current ask. In any case, the collision between two such similar listings - one of which was already struggling to attract bids - looks like an opportunity for a river-view buyer who likes Art Moderne and isn't afraid of some work. With the Normandy steadily upgrading its amenities - which already include one of the most functional, attractive lobbies in the neighborhood - the overall value here could be pretty good.
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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008
At least Halstead has put up a readable floor plan. Corcoran outta be ashamed with their shoddy copy-n-paste rendition. Sloppy work, Marsha.
I've not yet seen 11K but am familiar with the line. I've personally never been wild about the long, narrow rooms of these apartments. (That seems, unfortunately, to be a Normandy trait.) Also, though the river views are indeed open they never feel quite as expansive as I'd like since this line happens to be in the set-back section of the building. When you stand at the window you see the building jutting out on either side which somehow makes things seem strangely closed-in.
Floor condition always seems to be an issue in the apartments I've seen at the Normandy. Which is odd, considering they're thick herringbone ties (not the thinner veneers generally used in buildings built earlier than the Normandy).
We've discussed the problems with the public hallways, which are generally run-down and shabby since their care and decor are left to the tenants. That's always been a turnoff.
It will be interesting to see how these two units do now that there is direct competition. I think Corcoran needs to really step up the presentation a bit (replace that crappy floor plan already!) in order to stay in the race with the fresher listing.
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
bramstar: Good point about the garden recess: the river views from "K" are direct, but they are somewhat narrowed by the building's arms. The 3BR to have is the "H" line. At least one high-floor "H" unit seems to hit the market every decade, so we shouldn't have to wait more than four or five years.
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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008
Yes, and those 'arms' also block the southern light so it always feels a bit darker in the recessed units, at least until late afternoon. I've never seen the H line in person. I did like 18A, at least view-wise--if one could get the next-door apartment on 18A's NW side and combine--wow. That would be one helluv an apartment!
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Response by nyc10023
almost 15 years ago
Posts: 7614
Member since: Nov 2008
Bram: I forget, did you see the current "A" line listing at 5RSD. That would be a pretty combo (A+B).
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Response by gabrielle904
almost 15 years ago
Posts: 121
Member since: Jan 2009
Oh my goodness, you guys are good. I am sure we must have seen each other at these open houses. This is such a small parallel world we are playing in. With regards to 5 RSD combining A and B, I must admit I was very excited about that till I noticed that 12 B was bought by Robert Anzalone (CEO of Real Estate broking firm Fenwick Keats), ......and more that I won't get into here. Unfortunately the combination stopped looking quite so dreamy for me after that. However I agree it would have been pretty dam amazing!
On another note nyc10023 I am so happy that I made a mistake and you are not that lady that frustrated me beyond belief. I am going to go back and open that previous conversation.
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Response by Boss77
almost 15 years ago
Posts: 88
Member since: Dec 2007
West, great write up on 255 W. 84th, my thoughts exactly. Second and third bedrooms aren't great and 2nd bathroom is tiny. Those floors were nice though.
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Response by falcogold1
almost 15 years ago
Posts: 4159
Member since: Sep 2008
So, NOBODY went to an open house except W81?
NOBODY? NOBODY SAW NOTHING?
one guy running around like crazy all alone?
come on folks...anybody see anything besides W81?
Write what you saw this weekend...don't compare your evaluation to W81...we will take anything!
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Response by nyc10023
almost 15 years ago
Posts: 7614
Member since: Nov 2008
Feeling lazy. Also I am thinking of twittering open house comments instead of posting on SE.
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Response by newbuyer99
almost 15 years ago
Posts: 1231
Member since: Jul 2008
Regarding 11K at 140 Riverside Drive: Wouldn't anyone who is seriously considering plunking down $2MM+ actually take the time and research the building/apartment, quickly finding out that the same unit sold in 2007 for $500K less? And after that, do the sellers/brokers have any remote chance of getting anywhere close to their ask? Or am I missing something?
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Response by sjtmd
almost 15 years ago
Posts: 670
Member since: May 2009
I am a little light headed at this altitude. Doesn't anyone ever go to and comment on open houses in the < $1,000,000 range? Hey Falco - what's with the double negatives?
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Response by front_porch
almost 15 years ago
Posts: 5316
Member since: Mar 2008
10023, what's your twitter ID?
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Response by switel
almost 15 years ago
Posts: 303
Member since: Jan 2007
sjtmd, I agree, I am also interested to hear about < $1,000,000 range
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Response by aboutready
almost 15 years ago
Posts: 16354
Member since: Oct 2007
the weather was awful.
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
nyc10023: I've considered Twitter, but it seems more suited to sharing/reporting dynamic events in real time than describing static things. In other words, I think Twitter is great for verbs, especially in the present tense, and not so good for nouns and adjectives. Although an open houses is an event, very little happens there. The story - to the extent there is one - is the property, not the open house itself. I'm also too windy to tweet well.
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Response by lucillebluth
almost 15 years ago
Posts: 2631
Member since: May 2010
"the weather was awful."
the weather was terrible. and at an open house your options would have been to either walk all over someone's home in your wet filthy rain boots...or remove them. don't you think a certain someone deserves a big thanks for reminding you to buy some nice socks? i think so.
"I've considered Twitter, but it seems more suited to sharing/reporting dynamic events in real time than describing static things...great for verbs, especially in the present tense, and not so good for nouns and adjectives."
Not up for the challenge W81? Think how poetic you could be. legendary.
10023 - couldn't you cut and paste to SE for those of us who knew you when? doesn't get any lazier than that.
i've never been on twitter. is there a real estate community of twits?
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Response by West81st
almost 15 years ago
Posts: 5564
Member since: Jan 2008
140 RSD in haiku:
Narrow winter view
From a master with no bath.
Await the price cut.
Astor Court's "B" line is a classic seven in every sense. Radiating from an elegant central gallery, the floorplan offers well-proportioned rooms, good flow and a kitchen/servant's wing flexible enough for in-kitchen dining, office space, a fourth bedroom, etc. The big family bedrooms accommodate retrofitted storage for modern living, if the 1916 originals are insufficient. If the line has a significant weakness, it might be light: eight of twelve windows face north, onto 90th Street. Only the living room and a secondary bedroom face south toward the gardens.
In #7B, Halstead has taken an interesting gamble. The listing promises "triple mint" condition. That description drew a big crowd on Sunday, but I'm not sure it bears close scrutiny. The bathrooms are mostly original, albeit well-preserved; the kitchen has undergone only spot updates (e.g. fridge and counters) and minor rearrangement since the current owners purchased the apartment six years ago; the legacy cabinetry shows significant wear, as do the floors and some moldings. If triple mint means those elements are like-new, I don't think #7B qualifies; and if that shortfall turns off the first wave of prospective buyers, #7B could be in for a rough ride.
Notably, the owners are seeking 24% more than they paid. Frankly, it's hard to see where much value has been added since 2005. Prior pictures are at http://www.corcoran.com/property/listing.aspx?ListingID=754654&Region=NYC and they are quite nice. To the extent the major challenges of a WWI-vintage home have been addressed, most of the credit goes to prior owners. (For example, I like the pre-2005 built-in storage in the master bedroom.) The current owners did inherit antiquated climate control, but they haven't done much about it: the window A/C units just appear older.
What the current owners HAVE added is a lot of black: black stain on the floors of all the public spaces, black built-ins under the windows in the living and dining rooms; a sleek black stone mantle, black countertops in the kitchen. Adding to the slick appearance is the choice of glossy paint for the walls. I think the latest touch-ups just dried in time for the open house.
Will #7B yield a big markup over the 2005 price? Sixty people showed up on Sunday, and it only takes two to make price war. I think of Astor Court as a building that attracts stodgy traditionalists like me - people who will look at that fireplace and ask "Why?" But there are certainly buyers with more eclectic tastes who may see the vast expanses of black - and the hefty price tag - and ask, "Why not?"
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Response by West81st
over 14 years ago
Posts: 5564
Member since: Jan 2008
A few updates:
- I was dead wrong about 670WEA #4F; it closed on 8/25 for $2.55M, a discount of less than 2% off ask.
- 210 W90 #7B has been in and out of contract, and was just reduced for the first time, by $100K.
- At 140 RSD, #11K recently returned to the market after a three-week hiatus. #19K is languishing. Both prices have been reduced a bit.
- 255 W84th #5C is off the market.
- 545 WEA #16E went to contract quickly, but does not appear to have closed, five months later.
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Response by dwell
over 14 years ago
Posts: 2341
Member since: Jul 2008
Thanks for the update, W81
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Response by West81st
over 14 years ago
Posts: 5564
Member since: Jan 2008
545 WEA #16E finally closed on 9/13 for $1,657,500. At nearly $1200/SF, the sale surpasses the previous high for the line: #15E in for $1,570,000 in 2006.
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Response by Brooks2
over 14 years ago
Posts: 2970
Member since: Aug 2011
sold only 17% from initial listing,, great brokering!!
STREETEASY HISTORY
08/21/2010
Listed by Brown Harris Stevens at $1,795,000.
09/20/2010
Price decreased by 6% to $1,695,000.
11/06/2010
Listing entered contract.
02/03/2011
Listing sold.
02/03/2011
Sale recorded for $(insiders only)
SOLD for 1.5mm
Probably because they had no interest at 1.295mm still well below 06' prices
November 21, 2006 Unit 12C 2 BD / 2 BA
1,400 Sq. Ft. Co-op $1,600,000
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Response by West81st
about 14 years ago
Posts: 5564
Member since: Jan 2008
Update: 825 WEA #3A sold for $2,018,250 - better than I thought it would do, though it's hard to assess the value proposition without knowing what kind of renovation the sponsor threw into the deal.
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Response by West81st
about 14 years ago
Posts: 5564
Member since: Jan 2008
Also, 310 West 86th #3B closed way back in June for $2.3MM, a hair above the asking price.
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895 West End Avenue #2A
Co-op, 7 rooms: 3 beds 2 baths plus maid's room and bath
Asks $2,295,000 Maint. $2236 (unverified)
http://streeteasy.com/nyc/sale/584781-coop-895-west-end-avenue-manhattan-valley-new-york
The "A" line at 895 WEA sits on the southwest corner of 104th and West End. The classic seven footprint offers some intriguing options, because the kitchen/servant's wing is unusually deep. In #2A, the extra space has been used to create a comfortable, banquetted breakfast area and a small laundry nook. In this sense, #2A functions more like an eight-into -seven than a standard WEA seven, where such comforts usually require sacrificing the maid's room.
The other design choices in #2A show less awareness of resale impact. The finishes - particularly in the upscale country kitchen and gold-plated bathrooms - leave the lasting imprint of one owner's taste, and will probably narrow the buyer pool. The public spaces offer an odd juxtaposition: the foyer and dining room are ambitiously formal (somewhere between Louis the Somethingth and Belle Epoque), but the living room has been narrowed by built-ins to a narrow den/family room with recessed lighting and the television as its focal point.
The by-owner sale of #12A for $2.425MM last fall reset the market to near-peak levels in a building where few large apartments had changed hands in recent years. #12A hit a sweet spot, with excellent light, little competition and a neutral renovation that included central air in most rooms. #12A also made different use of the footprint, pulling the kitchen back from West End, using the front half of the kitchen wing as an informal dining room and the original dining room as the living room. The casual flow and gentle styling attracted many inventory-starved C7 buyers. #2A has narrower appeal. The question is whether it can capture the fancy of at least two determined bidders.
Potential buyers should also research the cost of mandatory window replacement, which will hit ornately fenestrated apartments like #2A particularly hard.
Wow, $2,425MM! Good to know the economy is booming on the Upper West Side. Remember the days when those in the arts could live on the UWS? Remember the days when there was a middle class in Manhattan? Now you need to be a hefty donor to the arts to even attempt living on this island.
W81- What do you think of 845 Westend Avenue, apt 3E? I know it is dark, but what do you think of the price?
825 West End Avenue #3A
Condo, 6 rooms: 2 beds 2 baths plus maid's room and bath
Asks $2,000,000 CC $1386 RET $763
http://streeteasy.com/nyc/sale/576019-condo-825-west-end-ave-manhattan-valley-new-york
825 WEA might offer some cautionary notes for buyers considering more recent condo conversions, regarding the long tail on the conversion process. Although the building is over 70% owner-occupied (at least for the purposes of reporting to Fannie and Freddie), inconveniently long-lived tenants and unrefurbished public hallways reflect unfinished business, nearly two decades after the condo became effective.
#3A is a particularly grim example. Approached through a dark landing redolent on Sunday of cat urine and schmaltz, #3A is a sponsor six in which virtually nothing is salvageable. The listing states that the $2MM price is for delivery in as-is condition. That's clearly negotiable, or perhaps a subtle joke. Nobody will pay anywhere near $2MM for this apartment in its current, bombed-out state. It's worth noting that the Weinreb organization usually offers basic gut renovation at reasonable cost. Judging by the same team's work here and at Sabrina or 315 West 86th, the main attractions of the sponsor's reno package might be price and the crew's familiarity with the building's quirks.
The apartment's strengths can be summarized in one word: size. The rooms are big, and the overall square footage is toward the upper end of WEA sixes, although it falls well short of the stated 2,100. Despite the generous footprint, flexibility may be curtailed by the position of the bathrooms, which are en-suite at the corners of the apartment. A good architect could probably solve that problem, but I think there are better uses for such an architect's talents than a low-floor wreck in which only the two front-facing rooms get decent light.
For what it's worth, I thought 895 12A was well-priced for what it is and wasn't at all surprised to see it sell quickly at slightly above ask.
The owners had utilized the apartment's top-floor location by installing central air (compressor on the roof) and building a restaurant-style exhaust hood over the top-grade chef's stove. The kitchen itself was beautifully appointed, with high-end appliances and gracious, eat-in layout.
The apartment itself was light and airy with beautiful flow and a tasteful, good quality renovation. It was clear the owners cared a great deal for their space and I believe that can have a considerable impact on a sale.
FWIW, I love the layout of 895/12A way WAY more than 2A. Seriously, where do people live in 2A? There is a huge dining room, an additional breakfast room, and a relatively tiny LR that feels more like a viewing room than anything else. The colors in 2A don't do anything to help open it up either. If 12A is setting the price here then no way 2A, one floor above street level, with its design choices, and with its configuration can get what it is asking.
That said, in an UWS C7 marketplace is all really boils down to inventory and the jobs picture in NYC doesn't it? Talk about sub-markets!
(Did I mention I really like the layout choices in 12A?! I don't even have to look at the pictures to tell a difference, though those only exacerbate my love of one of these apartments over the other.)
On 2nd viewing -
Is it just me or wouldn't someone paying $2.4 million for a 3BR apartment with all this space expect a bit more than one regular sized bathroom and one that looks like it was squeezed into a closet with the sink in the master bedroom?
This is a crazy market when you consider what someone has to pay to get the character of a pre-war apartment. Or is this part of the character we are paying for?
Buywest: On higher floors, I think the "E" line at 845 is quite attractive. Whether it makes sense to trade eight floors of elevation for $750K really comes down to personal priorities. My own view is that a new condo conversion carries enough negatives that I would have to really LOVE the apartment to take the risks; I can easily see a buyer falling for #11E or #12E that way. If the apartment itself were a compromise - as #3E seems to be for most of the people considering it - I'd try to put the $2.75MM (or whatever it takes to buy #3E) into a building that offers more stability and/or an apartment that didn't feel like settling.
'Potential buyers should also research the cost of mandatory window replacement, which will hit ornately fenestrated apartments like #2A particularly hard.'
'ornately fenestrated apartments' W81st...that's re poetry!
545 West End Avenue #16E
Co-op, 6 rooms: 2 beds 2 baths plus maid's/office
Asks $1,729,000 Maint. $2016
Traffic: Heavy
http://streeteasy.com/nyc/sale/585565-coop-545-west-end-avenue-upper-west-side-new-york
This high-floor six drew a big crowd to its debut, mostly because it has no glaring flaws that jump out from the listing. Location? Check. Condition? Check. Light? Check. Doorman? Check. Price and maintenance? Sufficiently plausible to be worth a look.
The renovation of #16E is nicely executed, with pre-war charm preserved and some much-needed storage added. The kitchen is attractive and well-equipped. Everything here is pleasant, but nothing is grand. The rooms are rather small, and the flow, while efficient, lacks the sweep of a really good classic six.
The total "E" footprint is under 1400 square feet, the size of a good five. The asking price works out to about $1250/SF. The previous high for this line was $1.57MM for #15E in 2006, or about $1150/SF. Secondary lines on West End can offer good value - especially on high floors - but $1250 is a level that seems more suitable for the front of a top building than the rear of 545. If the enthusiasm for #16E survives actual viewing, it will say a lot about the appetite for move-in listings with good light.
670 West End Avenue #4F
Co-op, 7 rooms: 3 beds 2 baths plus maid's
Asks $2,595,000; Maint. $2838 plus Assmt. $363.
Traffic: Light
http://streeteasy.com/nyc/sale/583513-coop-670-west-end-avenue-upper-west-side-new-york
The "F" line at 670WEA is a very respectable corner seven. The rooms are large, and six of them comprise a seventy-foot avenue frontage with eleven windows. That's great on high floors. It's a mixed blessing closer to street level, but West End in the low nineties is reasonably quiet.
#4F is fairly well-preserved, with the only pressing needs being the usual updates to kitchen and baths. The apartment has one important quirk, however: the dining room has been converted to an eat-in kitchen. Reverting to a formal DR does not look daunting at first glance: the changes to plumbing, wiring, walls, gas lines, etc. appear limited; the original parquet floor remains; and none of the added kitchen fixtures are worth preserving. The full extent of the damage under appliances and cabinetry probably won't be known until demolition begins. At the very least, it seems likely that the floor is wrecked.
Another, less formal, option would be to update the kitchen where it is, and try to make better use of the original kitchen-maid's wing than its current role as laundry and storage. The space could serve well as a guest suite, teen bedroom, family room or extensive home office, while still holding the washer-dryer.
#4F also has a curb-appeal problem. The Board of 670WEA has been gradually upgrading common areas, but the landings in the front half of the building are especially challenging and remain eyesores. At the current asking price, #4F would probably cost the new owners over $3MM with renovations. That price point, with monthlies over $3K, just doesn't mesh with a landing that looks more suitable for freight and trash than elegant guests. Across the intersection, at 685WEA, this space would command that kind of money. (There are no true sevens at 685; converted sixes trade above $2MM.) At 670, for now, the price looks ambitious for an apartment that wants significant alteration.
Any good garden listings you're seeing?
West, do you really think the reno would cost $400K? That sounds high to me, even with a full kitchen redo.
Personally I think the current kitchen configuration is a real drawback. Most people spending that kind of money on a classic 7 are going to want a formal DR for entertaining. Being relegated to dining in a 'country' kitchen on a butcher block table does not exude elegance.
Also, FWIW, I'd work a bit on the staging. Lose the goofy extra-large family photos taking prominence on the den walls and get rid of the ridiculous caddy-corner bed set-up--that kind of layout always screams 'not enough space for proper bed placement!!'. Dump the bureau--anything. Just please put that bed in the proper position.
its ironic. the apartment has a really nice sized master bedroom and nice windows because of its placement on the corner but the two sets of double windows forces a very awkward placement for the bed relative to the door.
but columbiacounty, you don't like windows anyway, right?
were any of these apartments prices at or below $500 per square foot? west 67?
Really, it's time. I'm ready to buy. I've found the perfect apartment on East 9th/University Place. I just need the price to be slashed by about 60% the way West 67th has been saying it would be for the last year or so, so when is it going to happen?
255 West 84th Street #5C
Co-op, Edwardian five (listed as 2BR/2BA)
Asks $1,295,000 Maint. $2594.15
http://streeteasy.com/nyc/sale/579916-coop-255-west-84th-street-upper-west-side-new-york
Over the past five years, 255 West 84th has offeed something of a Rorschach for prewar enthusiasts. Optimists see the building's run of bad structural luck and spiraling monthlies as a freakish outlier; pessimists figure many 100-year-old dwellings have similar latest defects and will need similar investment. I lean toward the latter view, though few Boards are forced to fix so many problems in such a short time. The latest project is the elevators, the last major item I'm aware of. The cost of the many improvements will linger, in the form of a $10MM mortgage that inflates the Alameda's already hefty maintenance.
These issues won't help the marketing of #5C, a 'tweener apartment with no obvious niche. In its original configuration, the Alameda's "C" line was probably one of the better Edwardian Fives, with high ceilings, beautiful details, a gracious dining room and ample southern light in the living room and bedroom. Times changed between the wars, and the market dried up for one-bedroom apartments with servants' quarters. This line, like many E5s, was rebadged as a two-bedroom to compete with classic fives, high-end fours and low-end sixes. The scars from this change vary. In #5C, it seems that space from the dining room was borrowed to expand the foyer into a dining area, with the remainder of the original DR becoming a second bedroom. On paper, the use of space makes sense; but the relocated wall disrupts the pattern of the herringbone floors that are among the apartment's prettiest features.
#5C is generally in good condition. The kitchen and home office are well-appointed, attractive and efficient, with excellent storage and workspace and a functional bathroom. The master bedroom might look bigger without the red carpeting and drapery, and with the bed in a different location. The mirrored living room and gold-trimmed hall bath could use a facelift. Floors throughout the apartment show wear. The second "bedroom" (the original dining room) is currently a den, with extensive built-ins that shrink the space and limit it, as a bedroom, to occasional guests.
The biggest challenge here, as with many outdated apartment formats, is identifying the target buyer and the best use of the space. Despite many decades of tweaking, the "C" line remains, essentially, a really great one-bedroom. In a buiding where a high-floor seven in fair condition with open views just closed for $1.5MM, I would be surprised to see #5C come close to the current ask. Direct comps are scarce; I think #4C sold a year or so ago, but there's no sign of a public record.
Ps. Please don't feed the trolls.
Bramstar: At a purchase price of $2.6MM for 670 WEA, I think it would be hard to close the deal, move the kitchen, do the bathrooms, take care of the inevitable "miscellaneous" upgrades, fix-ups and move-in expenses and keep the all-in cost much below $3MM. Even if the number is $2.85MM, it's still a lot of money.
Typos in that 255W84 write-up:
has offeed ==> has offered
latest defects ==> latent defects
140 Riverside Drive #11K vs. #19K
Co-op, 3BR 2BA
11K asks $2,495,000; maint. $2897.
19K asks $2,395,000; maint. $3064.
The Normandy's "K" line offers direct river views from the living room and one of the three bedrooms. That river-facing bedroom poses a bit of a puzzle, though: it's not a true master; the apartment's en-suite bath is attached to the second bedroom, which faces east. The river-facing bedroom shares the large hall bath with the northeast-facing third bedroom. Another oddity of the "K" floor plan is a small dining room which, coupled with the absence of a maid's room, generally puts this line in competition with classic sixes rather than grander prewar 3BRs.
When these limitations are added to the Normandy's lackluster hallways and highish maintenance (which does include electric), it's understandable that the "K" line has never been a market favorite, despite the views. For eight years, sales have clustered around the $2MM mark, with renovated low-floor units generally outperforming high-floor units that need more work. Corcoran's stale listing for #19K and Halstead's new offering of #11K both tend toward the latter category. Neither apartment is a wreck, but #19K hasn't been touched in decades and #11K seems to have worn out the patience and resources of its owners, who bought it as a fixer-upper in 2007 for $1.995MM.
In a bake-off, each apartment has advantages. #11K offers grandfathered laundry facilities, plus the beginnings of a good renovation: electric has been upgraded, with wiring and cabling embedded in walls; windows have been reglazed; and some modest bathroom updates are evident. #11K also boasts a recent skim-coat job, though the new owners might have to bring the painters back after other work is done. #19K has better views (the highway is much less prominent) and the extra eight floors also seem to help with traffic noise - more so than the new glass on eleven. I think the bathrooms in #19K are nicer; the recent updates in #11K seem mostly of the "bare mininum to sell it" variety.
Although both kitchens are outdated, the layout in #19K seems less bad, with a reasonable eating space and a doorway to the dining room. Admittedly, the main reason #11K's kitchen is so cluttered and closed-in is the presence of a full-size washer and dryer, which are probably not even an option in #19K. Both kitchens feature ugly storage and workspace, though it's possible that #11K retains its original cabinets, under many layers of paint. Both apartments have the original herringbone floors that run throughout all major rooms. The floors in #19K seems to be in slightly better condition; that impression might stem from the concealing effect of a darker stain. Refinishing is needed in both apartments, and is already scheduled in #11K. Both apartments have through-wall AC in some rooms. The units appear more modern in #11K.
Halstead seems to be mounting a savvy, well-aimed counter-sales campaign against the competition eight floors up. I think the pitch might succeed, to the extent that #11K could fetch a higher price than #19K. It remains to be seen whether the improvements to #11K are sufficient to overcome a near-peak, same-unit sale (by the same broker) for $500K below the current ask. In any case, the collision between two such similar listings - one of which was already struggling to attract bids - looks like an opportunity for a river-view buyer who likes Art Moderne and isn't afraid of some work. With the Normandy steadily upgrading its amenities - which already include one of the most functional, attractive lobbies in the neighborhood - the overall value here could be pretty good.
At least Halstead has put up a readable floor plan. Corcoran outta be ashamed with their shoddy copy-n-paste rendition. Sloppy work, Marsha.
I've not yet seen 11K but am familiar with the line. I've personally never been wild about the long, narrow rooms of these apartments. (That seems, unfortunately, to be a Normandy trait.) Also, though the river views are indeed open they never feel quite as expansive as I'd like since this line happens to be in the set-back section of the building. When you stand at the window you see the building jutting out on either side which somehow makes things seem strangely closed-in.
Floor condition always seems to be an issue in the apartments I've seen at the Normandy. Which is odd, considering they're thick herringbone ties (not the thinner veneers generally used in buildings built earlier than the Normandy).
We've discussed the problems with the public hallways, which are generally run-down and shabby since their care and decor are left to the tenants. That's always been a turnoff.
It will be interesting to see how these two units do now that there is direct competition. I think Corcoran needs to really step up the presentation a bit (replace that crappy floor plan already!) in order to stay in the race with the fresher listing.
bramstar: Good point about the garden recess: the river views from "K" are direct, but they are somewhat narrowed by the building's arms. The 3BR to have is the "H" line. At least one high-floor "H" unit seems to hit the market every decade, so we shouldn't have to wait more than four or five years.
Yes, and those 'arms' also block the southern light so it always feels a bit darker in the recessed units, at least until late afternoon. I've never seen the H line in person. I did like 18A, at least view-wise--if one could get the next-door apartment on 18A's NW side and combine--wow. That would be one helluv an apartment!
Bram: I forget, did you see the current "A" line listing at 5RSD. That would be a pretty combo (A+B).
Oh my goodness, you guys are good. I am sure we must have seen each other at these open houses. This is such a small parallel world we are playing in. With regards to 5 RSD combining A and B, I must admit I was very excited about that till I noticed that 12 B was bought by Robert Anzalone (CEO of Real Estate broking firm Fenwick Keats), ......and more that I won't get into here. Unfortunately the combination stopped looking quite so dreamy for me after that. However I agree it would have been pretty dam amazing!
On another note nyc10023 I am so happy that I made a mistake and you are not that lady that frustrated me beyond belief. I am going to go back and open that previous conversation.
West, great write up on 255 W. 84th, my thoughts exactly. Second and third bedrooms aren't great and 2nd bathroom is tiny. Those floors were nice though.
So, NOBODY went to an open house except W81?
NOBODY? NOBODY SAW NOTHING?
one guy running around like crazy all alone?
come on folks...anybody see anything besides W81?
Write what you saw this weekend...don't compare your evaluation to W81...we will take anything!
Feeling lazy. Also I am thinking of twittering open house comments instead of posting on SE.
Regarding 11K at 140 Riverside Drive: Wouldn't anyone who is seriously considering plunking down $2MM+ actually take the time and research the building/apartment, quickly finding out that the same unit sold in 2007 for $500K less? And after that, do the sellers/brokers have any remote chance of getting anywhere close to their ask? Or am I missing something?
I am a little light headed at this altitude. Doesn't anyone ever go to and comment on open houses in the < $1,000,000 range? Hey Falco - what's with the double negatives?
10023, what's your twitter ID?
sjtmd, I agree, I am also interested to hear about < $1,000,000 range
the weather was awful.
nyc10023: I've considered Twitter, but it seems more suited to sharing/reporting dynamic events in real time than describing static things. In other words, I think Twitter is great for verbs, especially in the present tense, and not so good for nouns and adjectives. Although an open houses is an event, very little happens there. The story - to the extent there is one - is the property, not the open house itself. I'm also too windy to tweet well.
"the weather was awful."
the weather was terrible. and at an open house your options would have been to either walk all over someone's home in your wet filthy rain boots...or remove them. don't you think a certain someone deserves a big thanks for reminding you to buy some nice socks? i think so.
No
>>I'm also too windy to tweet well.<<
Gotta lay off the beans, West :-)
http://streeteasy.com/nyc/sale/587522-coop-105-west-73rd-street-upper-west-side-new-york
"I've considered Twitter, but it seems more suited to sharing/reporting dynamic events in real time than describing static things...great for verbs, especially in the present tense, and not so good for nouns and adjectives."
Not up for the challenge W81? Think how poetic you could be. legendary.
10023 - couldn't you cut and paste to SE for those of us who knew you when? doesn't get any lazier than that.
i've never been on twitter. is there a real estate community of twits?
140 RSD in haiku:
Narrow winter view
From a master with no bath.
Await the price cut.
Pass it on by, don't look it in the eye.
210 West 90th Street #7B
Co-op, 7 rooms: 3 beds 2 baths plus maid's room and bath
Asks $3,495,000 Maint. $2982
http://streeteasy.com/nyc/sale/589258-coop-210-west-90th-street-upper-west-side-new-york
Traffic: Heavy
Astor Court's "B" line is a classic seven in every sense. Radiating from an elegant central gallery, the floorplan offers well-proportioned rooms, good flow and a kitchen/servant's wing flexible enough for in-kitchen dining, office space, a fourth bedroom, etc. The big family bedrooms accommodate retrofitted storage for modern living, if the 1916 originals are insufficient. If the line has a significant weakness, it might be light: eight of twelve windows face north, onto 90th Street. Only the living room and a secondary bedroom face south toward the gardens.
In #7B, Halstead has taken an interesting gamble. The listing promises "triple mint" condition. That description drew a big crowd on Sunday, but I'm not sure it bears close scrutiny. The bathrooms are mostly original, albeit well-preserved; the kitchen has undergone only spot updates (e.g. fridge and counters) and minor rearrangement since the current owners purchased the apartment six years ago; the legacy cabinetry shows significant wear, as do the floors and some moldings. If triple mint means those elements are like-new, I don't think #7B qualifies; and if that shortfall turns off the first wave of prospective buyers, #7B could be in for a rough ride.
Notably, the owners are seeking 24% more than they paid. Frankly, it's hard to see where much value has been added since 2005. Prior pictures are at http://www.corcoran.com/property/listing.aspx?ListingID=754654&Region=NYC and they are quite nice. To the extent the major challenges of a WWI-vintage home have been addressed, most of the credit goes to prior owners. (For example, I like the pre-2005 built-in storage in the master bedroom.) The current owners did inherit antiquated climate control, but they haven't done much about it: the window A/C units just appear older.
What the current owners HAVE added is a lot of black: black stain on the floors of all the public spaces, black built-ins under the windows in the living and dining rooms; a sleek black stone mantle, black countertops in the kitchen. Adding to the slick appearance is the choice of glossy paint for the walls. I think the latest touch-ups just dried in time for the open house.
Will #7B yield a big markup over the 2005 price? Sixty people showed up on Sunday, and it only takes two to make price war. I think of Astor Court as a building that attracts stodgy traditionalists like me - people who will look at that fireplace and ask "Why?" But there are certainly buyers with more eclectic tastes who may see the vast expanses of black - and the hefty price tag - and ask, "Why not?"
A few updates:
- I was dead wrong about 670WEA #4F; it closed on 8/25 for $2.55M, a discount of less than 2% off ask.
- 210 W90 #7B has been in and out of contract, and was just reduced for the first time, by $100K.
- At 140 RSD, #11K recently returned to the market after a three-week hiatus. #19K is languishing. Both prices have been reduced a bit.
- 255 W84th #5C is off the market.
- 545 WEA #16E went to contract quickly, but does not appear to have closed, five months later.
Thanks for the update, W81
545 WEA #16E finally closed on 9/13 for $1,657,500. At nearly $1200/SF, the sale surpasses the previous high for the line: #15E in for $1,570,000 in 2006.
sold only 17% from initial listing,, great brokering!!
STREETEASY HISTORY
08/21/2010
Listed by Brown Harris Stevens at $1,795,000.
09/20/2010
Price decreased by 6% to $1,695,000.
11/06/2010
Listing entered contract.
02/03/2011
Listing sold.
02/03/2011
Sale recorded for $(insiders only)
SOLD for 1.5mm
http://streeteasy.com/nyc/sale/547940-coop-255-west-84th-street-upper-west-side-new-york
- 255 W84th #5C is off the market.
Probably because they had no interest at 1.295mm still well below 06' prices
November 21, 2006 Unit 12C 2 BD / 2 BA
1,400 Sq. Ft. Co-op $1,600,000
Update: 825 WEA #3A sold for $2,018,250 - better than I thought it would do, though it's hard to assess the value proposition without knowing what kind of renovation the sponsor threw into the deal.
Also, 310 West 86th #3B closed way back in June for $2.3MM, a hair above the asking price.