Home of the Flipper

$1.05MM seems like a great deal a year ago, even with the need for TLC. I'm almost tempted at the current ask (and would be very tempted if it was a bit bigger, even if that meant more $$)

What am I missing?

what kind of range is that in the kitchen?

I like the old floorplan better.

Flippers area abounding again:

http://www.nytimes.com/2011/04/08/business/08housing.html?_r=1&ref=business

Not a good sign. The cheap money heroin high that has oil at $110 a barrel, gold at $1400 a ounce, and you can't even afford an ear of corn.

This is going to end disastrously. Smells just like the summer of 2008.

kylewest, better picture at http://www.hfirealty.com/brokerwebsite3/code/showphoto.asp?lid=643146&listing_type=sale. 60", 12 knobs, and makes no sense. Firing that thing up would suck all the air out of the apartment.

yorkville baby!

It's this: http://www.ajmadison.com/cgi-bin/ajmadison/UM150S.html#Ilve_Majestic_Collection_UM150S

If a household appliance could be called a monster of affectation, this is it.

What you can't see is the view.
It's a case of taking one for the team.
Out the south exposure are the industrial componets on the top of the next building. You don't clear the contraptions, you inspect them from close range along with a terrace close enough to share sugar. The apartment has a large terrace that faces an enclosed area formed by the tall buildings.
This is the case of the girl with the super hot body and a face that could knock a buzzard off a shit wagon. Isn't life a bitch.

Reminds me of this one, a very deceptive outdoor pic, the two exposures you don't see are rows and rows of floor to ceiling windows of neighboring building apartments.
http://streeteasy.com/nyc/sale/527843-condo-120-west-18th-street-chelsea-new-york

NWT: Yes, good find. It's a 60" Majestic dual-fuel. I think there are 11 knobs (from left to right): 2 knobs for the left oven; 1 for each of 4 burners; 1 for griddle; 2 more for right 2 burners; 2 for right side oven. That is a serious vent for this stove too. I'm not familiar with the brand. But it does seem out of place in such a small galley kitchen. My guess is that the range costs between $15,000-$20,000 based on what I know of La Cornue which is similar in appearance. Odd choice for a city apartment at this price point. I hope the current owner actually used that beast and loves cooking versus just treated it as a vanity purchase.

I don't like the layout at all from the floorplan. I didn't take the time to see what it was if this is reconfigured. I'd have prefered a living room, dining room and den against the side with the terrace and the current living room space to be the second bedroom. Too many narrow spaces right now making a decent sized place appear cramped from the pictures. Unfortunate that the kitchen is the same size as mine is even though my apartment is 1/2 the size. Even with bad views from terrace, It could be nice enough if planted well and hardscaped with proper screening devices so long as noise from rooftop turbines nearby isn't an issue. Gas hookup would be great for a grill and of course a water source would be key. Without a water source, the roof is pretty seriously compromised in terms of plantings.

At least there's a Coup de Feu.

purchased to flip
or
crazy reno...now no longer interested
or
?

well 10 mins of scris and googling tells me it was bought from an estate
purchaser is an artist, and doesn't appear to have given up his rental in morningside heights
he and his wife did take out a mortgage on it.
and 1/2 years earlier sold another apartment downtown while still retaining mornigside heights address

Id say definite reno flip

creepy what you can learn on the internet ...ay?

Yes, the coup de feu is lovely. I'm certain 90% of people who have one don't use it let alone know what it is for. I was trying to figure out how the range is vented. It appears to have a soffet over it, but there isn't any clear way it can vent out of the kitchen, and the photos don't reveal anything. There is a recirculating fan option in the Majestic range brouchure for nonventing hoods--which sounds like a horrifying prospect given the amount of heat and smoke and particulate a range like this can give off. No way a recirculating hood is going to address what's coming from the range. I hope that isn't what they put in.

Not purchased to flip; but never lived in either. There was a vision of extended family, gathered around the hearth (if a hearth can have that many burners) and it didn't work out.

falco, great imagery. Now I am tempted to go see it, just to see for myself.

newbuyer99
If your not overly picky about the bedroom views this could have served your needs and, come in way under your proposed budget. I liked the terrace except for the 'central stage' it is with respect to it's surrounds(minimal privacy). It's too far east for you anyway. The last owner had opaque screens in all the southern exposures.
Originally...lots of space for the money.
The flipper might take it on the chin.

Falco, most of your comments are spot on. Almost tempting precisely because it's well under our budget, and brings a nice-sized terrace along with it. That far east is annoying, but not necessarily a deal breaker. I actually like the layout for a 3-bedroom. Problem is that we need a practical way to make a 4th bedroom while (a) leaving sufficient living space and (b) not cutting off a tiny, windowless kitchen. For this floorplan, (a) is borderline, but (b) is a the deal-breaker.

Flippers at it again

http://streeteasy.com/nyc/sale/569247-condo-530-east-76th-street-upper-east-side-new-york

"huge price drop" - 2.9% most recent or 9.8% since first placed on the market. How does one define "huge"? Any takers?

If you read the NYTimes article that Steve linked to above, this is where the opportunity is;

"Ms. Moore, meanwhile, has plowed her earnings into her own deals, recently purchasing a second duplex for $30,000 in cash. %u201CI%u2019m getting $650 a side in rent, a lot better than the stock market,%u201D she said. %u201CMy plan is to buy up as much multifamily as I can while the market is down.%u201D"

$15K annual return on $30K total.

Beat that.

Hey falco... this crazy bitch is getting 50% return. Hey howz about you lend your pal w67 $300K? I'll pick up ten of these... and we'll give it to Ms. Moore by charging only $600/month in rent... next year we'll make 40% return... still kickazz...

Oh mothfker.... yeah, you crazy LL Ms. Moore, I'll beat your $550/month.... $400/month plus a free car!....

Hey falco... my bad... here's 5% return... ooops forgot my 15% mgmt fee.... you owe me money falco. When can I expect a check?

back on topic...

A homesitting degree, while hard to get does not guarantee the recipient has a grasp of the english language.

a NOTE TO SELLER... that 1.2inch penis ain't HUGE even in the micro penis world. Cause your husband says it is... don't make it so.

http://streeteasy.com/nyc/sale/569247-condo-530-east-76th-street-upper-east-side-new-york

>A homesitting degree

Is that what is necessary to be a stay at home mom?

I just thought that the credentials required a minimum of two children under 8. Any fewer under 8 children, you aren't a stay at home mom. Try lazy, alcoholic, unemployable, or entitled. (or combination thereof)

Bedrooms are a big letdown. Which one is the master???