Pricing 2011

Where did you see it?

Brokers are trying to push pricing up hoping naive buyers will fall for the ruse.

DTD,

I do not know what you mean by "downtown" (ie whether EV/LES vs. Tribeca), but prices in my coop (east village) have not exceeded peak, which is what I think you are asking, but some of the nicer units are getting peak prices.

Chelsea, Flatiron, Gramercy. As well Murray Hill/Kips Bay. Basically everywhere. If it was purchased in 2007/2008 at 1.6 it's now asking 1.8. I've seen this in most apartments...great to even average listings.

I am on the board at our UWS pre-war building - we saw about a 3-5% dip in our building in early 2009 deals, then back to flat. We just had a unit go into contract, all cash, at 18% above 2006 closing price (same unit). I think it is very specific to the nabe/building/unit. What I am hearing from friends in the UWS is there are no deals to be found, expect to pay top dollar unless there is something significantly wrong with the property. Can't speak for other areas.

DTDWIH, do you want to share a few comps....even with that, ASKING is a different than purchase price. Even if those places are listed more than purchase, they might be assuming they will sell flat or at a loss...

if you have purchase price to purchase price, that is the best way...

You are correct. These are ask. However I've found if the place is in good shape it's going at ask.

http://streeteasy.com/nyc/sale/588276-coop-264-lexington-avenue-murray-hill-new-york

http://streeteasy.com/nyc/sale/588714-coop-205-third-avenue-gramercy-park-new-york

DTD,

I see from the Gramercy link you are looking at a 2/2, yes? IMO, 2/2s are high in demand almost everywhere because you have so many more families in the city (despite the crash). And now that there are many good schools downtown compared to what there was 5 years ago, you see more families moving down there as opposed to having to stay in the traditional "family" UWS/UES 'hoods. However, I have heard there are great deals to be had right now in the lower LES for 2 bedrooms, might want to check there, although the downside to that area is that it is somewhat remote if you like to live near a lot of activity.

What does "triple mint" actually MEAN?

Yes, I think prices are way up. I purchased a condo in 2009, and comps in my building are going for 25%-30% more than I paid.

I think this is a bit too much of a bounce back. I would expect maybe 10-15%, but this is ridic.

Even I'm starting to think NYC mini-bubble, and I'm totally bullish.

I think triple mint is a flavor often found in Wrigley's and Tic Tacs.:)
I would agree with your last comment Needsadvice.

NA, "triple mint" refers to the old appraisal forms -- in categories, a property's condition could be "poor," "good," "very good," "excellent" or "mint."

So "triple mint" is a category that would rack up three mints on an appraisal form -- but I don't remember what the categories are -- anyone senior to me want to jump in here?

ali r.
DG Neary Realty

'What does "triple mint" actually MEAN?'

To the professional re broker it means very, very, very minty.
Almost too minty...like an Altoid after a glass of OJ.
Maybe even mintier...think eating a York Pepper Mint Patty while being dipped naked and sunburnt into a vat of Noxema.

Let just say...extream mint...mintymaximus!

It's said to refer to the separate conditions evaluations of the kitchen, the bath(s), and the overall home. But I don't buy that ... I think it's similar to falco's gold: equal measures of triple orange liqueur and creme de menthe. Ick.

When I buy into a new YORK triple mint pad....EEE!, I get the sensation of a cool gale force hurricane ripping my savings away.

This can't be right! Where are stevejhx, somewhereelse, and w67th to tell us that this is all untrue? Shocking I say.... shocking

I think it all depends on the niche. The one I know well -- downtown townhouses -- is still extremely soft and a good 25 - 30% below 2007. Almost nothing has gone into contract in recent weeks and there is a large stale inventory. Asking prices are sometimes double actual market values ....

148 Chambers St 2 - had to laugh...

10/01/2008
Previously Listed by Thomas D. Currier at $1,995,000.
01/09/2009
Previously Listed by Thomas D. Currier at $1,745,000.
01/09/2009
Delisted by Thomas D. Currier. Last priced at $1,595,000.
03/18/2010
Thomas D. Currier Listing sold. Last priced at $1,550,000.
03/18/2010
Previous Sale recorded for $1,476,462.
03/09/2011
Listed by CitySites Real Estate Gr

And the part that made me laugh was cut off! Let's try again:

03/09/2011
Listed by CitySites Real Estate Group at $1,995,000.

Seriously funny Falco, alanh and truth. I needed that. Good end of day read.

wait wait wait. none of this can be right. this can't be anectodoal evidence that the real etate market isn't collapsing. WHERE THE FUCK IS THE DOOMSDAY PRICING? w67? aboutready? what is going on? i thought they'd be giving apartments away by now, what gives?