Ok I would buy this @ 181 East 73rd Street #5D

not sure if i follow you.

oh phew, 10023, you lost him. don't get all cocky though, tomorrow is another day. maybe wear a disguise.

this discussion got way off track. I do have a serious question though. If this apartment is as great a deal as this guy Rhino86 says it is, then why has it been on the market for almost 2 years? --

maybe because it is way over priced... just maybe......

Brooks2
Rhino is not insisting that it's a great deal. He says that it's appropriate pricing for the market at the moment.

every time there is a closing those facts become a matter of public record.
This is why the actions of talented compers really have such great value. Right here on this chat board were regular posters that are truly gifted compers. The trolls ultimatly ran them off but if you examine old threads you can garner enormous amounts of information from their posts.
The value of RE is fluid and always set by the buyers.

Agreed. The value of an apartment is what a qualified buyer will pay for it. If this broker were to appropriately price the apartment, I doubt it would be on the market for this long. In 2/2010 it was priced at 999k, then taken off the market. If this apartment was listed at that level, maybe, just maybe it would attract more qualified buyers. I have noticed way too many brokers have been listing apartments way too high. The apts sit there for months; have price reductions after price reductions, and then finally sell or get taken off the market.
I don't get it... in this market? with all the information available to buyers these days... With SE?

really, a "comper" is talented because he or she can take public information and re-post it?

I think that these "talented compers" ran themselves off. Take aboutready, she was even given a moderator spot on another real estate blog, where open commenting was not allowed and even comments that were not favored could simply be deleted by the moderator. But she ran herself off of that board. What could that be blamed on, not enough medication?
But back to streeteasy, some of these "talented compers" would then go an insult anyone who disagreed with their comps. What was the reason for the insult? If the comp is real, evident, and accessible, shouldn't it stand on its own? Why would does it need additional defense in the form of attacking someone who disagrees with that "talented comper's" point of view?

"Oh, to clarify, I am not saying to go out and buy in NYC. There is no way in hell I would buy in NYC right now. I am saying to buy in 1978, 1985, 1991, 1997, even 2003. By now, you've missed the boat, and it will be a long ride down. I was addressing the lifelong nutcase renters who will never buy anything, ever. Good luck paying market rents in 2041. "

So the presumption is I will never see in my lifetime a purchasing opportunity as good as any of those dates? Dude that's preposterous.

I didnt say its a great deal.... I am basically saying when things start pulling back to ~15x annual rent in a rate environment this low, you cant shit all over buying as aggressively as I have liked to in the past.

PS: There is no sense to argue preference. If a Manhattan 2/2 werent worth $1mm people wouldnt pay $1mm for it. If a 1900 sqft house in Darien weren't worth $1mm then people would not pay that for it. These are the prices. I like the house better. Many people in my rental building split the 2nd bedroom and raise two kids up in there. For them, the park is priceless. I have a tough time understanding what they do when the kid finishes PS6, but to each their own. I actually understand the trade better if you're a single part dating, as some in my building clearly are.

"this discussion got way off track. I do have a serious question though. If this apartment is as great a deal as this guy Rhino86 says it is, then why has it been on the market for almost 2 years? --"

Even better question is why is 14G, which sold in July for $835K, back on the market at $789K already?

What's going on in this building?

I think you are mis-reading the history -- it just switched brokers with a price drop, there was no sale.

Even better question is why is 14G, which sold in July for $835K, back on the market at $789K already?

It probably was not sold in July. Just delisted.

This is typical. Over zealous broker convinces seller he can sell the apartment at too high of a price. Greedy seller takes the bait, hook line and sinker. After sitting on the market for 6 months unable to sell at above market price, Broker A's exclusive contract expires with seller. Seller finally realizes broker A was full of Sh$t and decides to switch to broker B. Broker B relists the apartment at a lower price, but still above market(because market is now lower). It sits on the market for another 3 months. After no interest and maybe a few offers(below listing price), Broker B lowers the price. Broker B shops the few offers he has(which are below the listing price) to other buyers(a lot of the time they make it up) until the seller finally relents and sells, sometimes 15-20% below initial asking. I have seen some sell for 40% below initial asking, but that was 08-10' time frame.

Oh-- and there may be nothing wrong with the building..

>>> __________ broker convinces seller he can sell the apartment at too high of a price.

or you can fill in your own blanks...

appt only open house sunday--- i sense a price drop comming

tic toc tic toc tic toc-- 693 days and counting..

"Ok I would buy this @ 181 East 73rd Street #5D"

I guess no one else would.

tic

humm says offer accepted on website. is that normal.. all interest parties place your bids hurry hurry...

is someone getting shopped or is this SOP for brokers?

>s been so well convinced by the broker who does this for a living?
No idea what I did there.

>or is this SOP for brokers?
All brokers or just some brokers?

don't know. not a rhetorical question. Is it that an ethical business practice? Post on line that you have an offer that is not in contract yet?

"humm says offer accepted on website. is that normal.."

Ive seen that before, but I would not call it normal. A deal is never done until contract is fully executed - then its in the financing gods and coop gods hands, for the most part. Saying that on a website in my opinion, is meant to create a sense of urgency either for other interested parties or for the bidder who is now conducting due diligence with their atty

it does not seem like the sellers are in an hurry. The Apt has been on the market for almost 2 years. It seems to me that the Broker is trying to shop the offer to other bidders to bid up the price.

What does the broker community think of this? I'd stay away of an listing I saw from a broker that shopped an offer like that.

Open House Sunday October 16,1:30pm

SE Meet up?

funny. yesterday it said offer accepted on the brokers site.

price was dropped $50k too. I wonder if Rhino86 would still buy it for $1.149k?

also-- looks like 3D just closed at $950k.. I wonder if that had something to do with the offer being pulled. Or was it because of another unscrupulous broker.... humm

toc

No W/D is a dealbreaker for many.

seems like on this one, its the price.

tic

toc.

over 2 years on the market.

Do yourself a favor. price it right or take it off the market!