Pricing?
Started by andreanm7
about 15 years ago
Posts: 58
Member since: Mar 2010
Discussion about
http://streeteasy.com/nyc/sale/620697-condo-230-riverside-drive-apt-10d-upper-west-side-new-york What do you think would be fair price? How much to renovate?
Not sure about the price but for a full gut it should be anywhere from 260k to 390k. That is for a very nice reno
I think it looks pretty fairly priced, especially considering the full river views, which always command a premium. You could offer $1 to $1.1 and see what happens from there. If in completely original condition, you may want to budget up to $450K for the reno just to be safe.
I think Bramstar is pretty close to the mark. Prior sales in the line point to a number around $1.2MM, despite the condition. I wouldn't pay it, because I don't like the location at all, but that's what the comps say.
A buyer could probably save money on the renovation by hiring the in-house crew that handles jobs for the (successor) sponsor. Unfortunately, their work gets very mixed reviews.