Sale at 1 West 72nd Street

I remember this one. It came and went in about a month and I don't think it sold. I remember the floorplan and it had large space with a small sep kitchen and bath. I wonder if we'll ever see that listing again?

It did have a kitchen? That means it was definitely more than just a maid's room. Wish I could see the floorplan! Really stunning. We can all fantasize!...Thanks Bill ;-)

Not a maid's room. This one has 12 ft ceilings. It appeared like something cut off of a unit next door. There was much cutting up units I would imagine during the depression through the post war era. I don't remember which way this one faced. At time of the posting I remember thinking square foot wise this would rival any other apartment in the area that would have been going for thier ask price. In 2006 I don't think 500K got much in the way of oppulance.

but you would have had to put 50% down, and then have a bunch of cash left over. You can still buy in, say, the Osborne on those terms.

P.S. I believe the purchaser later bought the neighboring apartment and recombined...

ali r.
DG Neary Realty

Thanks Ali, I knew someone would know. You are right, I had thought that the 500K was just the beginning of the deal accompanied by a larger than life cash flow. I am glad that the owner combined. There needs to be a bit more combining there.

Trie Bill, especially since the market was unstoppable then. It is gorgeous. But for the financing requirements, would've still been hard for a *less wealthy* prospective buyer.

I guess it is safe to say that there won't be any short sales at the Dakota anytime soon! To have become the "brand" that they are, they can easily require 50% down and I sure without complaint. Here's a good one, I remember when Gilda Radner bought one of the maids rooms for 150K. Just few short years before there were units in Cafe Des Artiste going for 29K. The prices seemed to explode at the very end of the 1970's.

Well 500k is a LOT in and of itself, but to own ANYTHING there in 2006 for that price seems like a steal. :)

As my friends' parents who bought in NYC then like to remind me, the subways were haphazard (and certainly unairconditioned), you were stepping over bags of garbage during the strike, and the West Side was kind of dicey.

still, sigh.

ali

Ha! I remember visiting NYC for the first time on a school trip in '93 at age 12 and my mom was chaperoning and we walked past the Dakota at about 11pm and a hooker was standing on the corner. My mom told me not to stare, and she said "Lady you got a lot more miles on ya than I do!"

The hooker said that to your mother or your mother said that to the hooker? [no names please, lets keep this anonymous]

The hooker said to mother, I guess after she heard my mom say to me "Don't stare!"

http://online.wsj.com/article/SB10001424052748704099704576289491084958626.html?mod=WSJ_NY_RealEstate_LEADNewsCollection

Above is the link regarding the Gilda Radner apartment. It's now for sale for $4.9 million and is owned by John Madden. Indeed, she paid 150k in 1979 and he paid 625k in 1985 when he bought it from her.

unusual private entrance to the Dakota. Is Melanie interested?

Thank you Anonymous; When I tell friends what the prices were, they look at me like I need a clue or something. It's interesting that I was told that she bought a maids room and that was not the case. I wonder if that apartment is what was the dining hall/public space that used to be off the courtyard. I feel that the plaster design in the ceiling of that one room looks like a dining space or card room. That will really sell since the kind of means that moves in there, they would have a status of private entry and not riding the elevator with the masses if that's what you call the gentry there.

i actually think keeping the studio w/o recombining would've been better. kind of my own quirk but i like seeing a smattering of variety - sizes and prices. bill do you recall the sq. footage? 400 ?

anyone read about the dutch owner who was indicted for embezzlement and the dutch government made a deal with the dakota to force the sale of hi unit?

Anonymouse; I don't remember the demensions of the room. Large and wide is all that I remember. However, here is something about the "Dutch Fraudster".

http://therealdeal.com/newyork/articles/dutch-fraudster-jan-dirk-paarlberg-sells-at-the-dakota

Hey Bill, indeed that people look at you weird when you mention prices says a lot. The more you read about atronomical prices, then the *LESS* astronomical prices seem like nothing. It does give pause.

My best friend and his wife just bought a 562k one bedroom loft in Carroll Gardens, Brooklyn and were in a big legal tug of war over financing rules b/c the bank appraised it much lower but the developer wanted more. The developer solved the problem by alotting them a private section of roof space with a locked gate. The developer simply REFUSED to market it for less than the bank determined it was worth. Corcoran wasn't willing to get their feet dirty even though they were the exclusive listing agents for the building. So yes it was solved, but not without some bloodshed.

http://streeteasy.com/nyc/talk/discussion/27620-sale-370-ocean-pky-9kl-turndown-thanks-corcoran

You may want to send this link from today's SE to your friend. I wonder, how large is the locked space on the roof that was allocated to them? In the future when they sell, they will have something the comps in that building don't have. Resale might be sweet. Also, what great use they will get.

true true....I'd say the space is maybe 150 sf. More than enough for the large grill and wooden dinner table for 4. 4.5 ft brick wall with great views. it's 10 story building.

Make sure when they grill that you will be one of the four people at that table. The bank did them a favor and the outcome could be a blessing.

I promise to wrap up this discussion, but does anyone remember the $801,000 basement storage until that sold in the building that got at least 8 bids from different owners? Last I heard, the buyer was converting it into a small gym for the good of the group.

make storage UNIT! ;)