Great deal; estate cond' for those wanting to ren'

4K maintenance? No thanks.

Stencil, I know 4K is a lot and still I don't think $1.72 a sq foot is bad for a quality service building like this, with pretty serious sized rooms.

I did notice that if you compare 6A to apt 10A and 11A that the maintenance stated on those sales is less (the sales were recent) than 6 A, so maintenance must have just gone up in the building recently.

Additionally, 10A and 11A are bigger as I suspect they bought the hallway back from the building, if you notice on the floor plans they have an additional hallway. Interestingly it looks like when the building sold them hallway back that they charged a flat fee, rather than a fee and an increase in maintenance for the additional square footage.

gabrielle904: Are you sure #10A was ever divided? In the standard carve-up of an "A" unit, the private hallway became a public passage leading to the rear unit and service elevator/stairs; the dining room became the master bedroom; and a small master bath was created from part of the kitchen. I didn't see evidence of that kind of alteration when #10A was on the market. (Admittedly, I wasn't looking for it.) #11A's history was largely obliterated by renovation, so it would have been hard to spot signs of prior division there. FWIW, I didn't notice any.

#6A was divided in the manner described above. The front and rear units were later rejoined, but the public hallway was never reincorporated. For a better idea of a divided "A" apartment, see the floorplan of #8AB, reflecting the layout before the front halves of the original 8A and 8B were combined in 2009: http://img.streeteasy.com/nyc/image/76/3217276.gif

The maintenance for #6A seem to reflect four factors:
1) Maintenance is rather high throughout the Royal Summit;
2) Lower floors don't enjoy much of an advantage in share allocation;
3) The allocation for #6A includes the hallway, although it remains public;
4) #6A may also suffer a "combo effect", having received a share allocation for two units.

gabrielle904: Have you been able to determine the status of the hallway? The listing is oddly mute on the topic, and it's an important consideration.

"...Watch how fast this moves..."

Uh-huh.

I'm watching.....

matsonjones: I think the fate of this listing will depend in large part on the broker - much more so than in a typical sale. Gabrielle904 is right that $2.45MM is an attractive price for a complete "A" line unit that clears the buidings to the rear. To make that price stick, though, Elliman will have to do the legwork necessary clarify the hallway status and some other ambiguities. Otherwise, the risk of uncertainty will be priced into the deal.

The listing itself doesn't offer much basis for optimism. There are still two contradictory floor plans, with no indication as to which one is right; and neither the floor plans nor the text give any clues about the public hallway, the share allocation problem, or the degree to which the original layout can be restored (or improved upon).

One additional perk: A really cool next-door neighbor who's seldom there.
http://streeteasy.com/nyc/closing/6261

West81st - looks like Gabrielle was right - sale listed as 6B, but obviously 6A, selling almost at ask.

ph41: ???

The closing I linked is from 2006, and it's definitely #6B. Was there another sale?

I'm unexcited. If you throw out the 11A comp, then it looks less and less compelling. Also, while it's technically a 8, how much more functionality does it have than a 7? Don't like having the bedroom up front. W86th has more than a few apt bldgs with large apts (151, 161, another one on the south side, forget number). In the 300s, I believe 320 has the largest apts.

Nothing great on the UWS market right now (under 5m) that would potentially excite a future buyer with deep pockets in mint condition, and that you can purchase with a good margin for profit. 115W69 was a very nice short-term flip (no significant work done, but plans filed).

Dear West81st, hi i have been taking a break or would have responded sooner. Thank you for taking the time to share the background on the individual floor plans in that building. I would love to have all the detailed information that a local NYC real estate lover has built in.
When I made that comment about 10 A and 11A, it was because in the floor plan measurements I noticed they had an extra 4 ft in width compared to 6A, so I just assumed. You are also right about it having to be a "complete A" as ironically I was told right from the beginning that they have NOT been combined and are waiting for the expediter to do this. I didn't think this needed factoring into the price as a lawyer could protect you if for whatever reason it wasn't able to combined you could walk and the other side look after legal fees.

Nyc10023 that 115w69th deal, I so get it, a beautifully executed deal.
If you fellow streeteasy intense followers are interested in meeting to see if we can help each other, or just to talk about our love of real estate, I
would love to, let me know. Gabrielle